Chennai, Aug 14 (IANS) Ingersoll Rand India Tuesday launched the China-made Trane brand premium split air conditioners and said it is targeting a market share of five percent in the domestic market.
The company would start making the product at the Chennai plant once the volumes pick up, said a top company official.
"We are currently importing the product from China. We will start making the air conditioners at our Chennai plant once the volumes pick up. The Chennai plant is a multi-product factory would go on stream next year," Venkatesh Valluri, chairman, India Region, told reporters here.
Added Sameer Nagpal, vice president (Residential Solutions: "The company estimates the residential air conditioner market in to be around 2.5 million units. In two-three years, we are targeting a market share of five percent."
Asked about the severe competition from South Korean and Indian brands, Nagpal said the air conditioners are targeted at premium end, and not the first time buyers, and going forward, products for mid-segment would be launched.
He said the company would market the air conditioners through dedicated Trane and multi-brand retail outlets.
In addition, Ingersoll Rand would sell the air conditioners through lifestyle stores like those vending modular kitchens and others.
He said the unique selling proposition (USP) of the air conditioners is that one can operate multiple air conditioners in a residence without moving an inch.
According to Nagpal, the company is also launching an interactive electronic door lock which could be operated with the air conditioner's remote.
Valluri said the company is investing around $25 million in its facility near here and going forward the investment could be scaled up to $100 million.