Thaindian News

Kolkata, Feb 2 (IANS) Air-conditioner maker Hitachi Home and Life Solutions (India) Ltd (HHLI) is eyeing 10 percent market share in volume in the country this year, a top company executive said here Wednesday.”We are aiming to capture 10 percent market share in air-conditioner segment in India in volume terms this year. That will translate into 12 percent market share in value terms,” HHLI managing director Motoo Morimoto told reporters here.

Currently, the company’s market share is about seven percent in volume terms.

Hitachi, which is doing business in India for the past 20 years, registered Rs.685 crore turnover in 2009-10, posting a growth of 35 percent, he said.

The industry grew by 20 percent last year, Morimoto said, adding this year the market size was expected to be 3.8 million units.

The company had a portfolio of 44 air-conditioners, including 25 in the split category, said Gurmeet Singh, head, sales and business planning.

“In the next five years we want to capture 15 percent market share in air-conditioner segment in the country,” he said.

Stating that Hitachi had two manufacturing plants - one in Gujarat and another in Jammu - in India, he said the total capacity of the two plants was four lakh annually.

“We will utilise the full capacity this year and take a decision on expansion in March,” he added.

Singh said the firm will launch “green product” air-conditioners for both residential and commercial uses in 2012.

“The gas currently used in air-conditioners is not eco-friendly. But we will introduce green product air-conditioners which will be eco-friendly,” he said.