The company engaged in air-conditioners and commercial refrigeration business has set a target of reaching 10 per cent market share in air cooler business in India before 2021, company Joint Managing Director, B Thiagarajan said.
Last year Blue Star expanded the product line in air cooler business with limited quantities. Following the encouraging response it received from the public, the company expanded the product reach across geographical locations with nine models.
"Air cooler is Rs 1,800 crore market (in India). It has got the potential to move up and do well. We are expanding it (that business). Our goal is to reach a market share of at least 10 per cent before 2021," Thiagarajan told PTI.
Elaborating, he said, the company has "expanded" the range and also "strengthened" the distribution network.
"We will be promoting our products. There is going to be some (marketing) campaign as well," he added.
Asked whether the company has lined up investment plans under the air cooler business, he replied in the negative, saying "it does not require any major investment. This is a sheet metal product".
On the air purifier business, he said Blue Star widened the range last year and undertook a marketing campaign.
The company launched air purifiers during the festive season last year with high-end premium models and the range is now being expanded to cover all price points in FY18-19.
"We are certain that this product will grow only if you integrate it with air-conditioner or is promoted in the commercial segment," he said.
"Why commercial segment because, every day people do not sit inside the house. They are working in the office or they are in restaurants, car. Commercial space is where people gather in large numbers like shopping malls, air purifiers should be present," he said.
To a query, Thiagarajan said the industry was witnessing a growth and should reach a size of Rs 500 crore by 2021 from the present Rs 180 crore.
"Our focus will be on the commercial segment. We would like to do more in commercial space. Investments are not very significant," he added.
Asked whether the company was manufacturing these air coolers and air purifiers, he said, the company has been "outsourcing" them.
"The market is very small and we are outsourcing them based on our design," he added.
Thiagarajan and company officials were here to launch 40 new models of inverter split air-conditioners which can cool up to 30 per cent more than the existing models.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)