Consumer durables major LG is looking to maintain a faster than industry growth in the commercial air-conditioning space with a slew of launches in the segment.
In an interaction with Moneycontrol, Sunil Khatwani, Business Head-System Air Conditioning Division, LG said that while the industry has seen a growth of 8-10 percent for the last two years, the company has been seeing a growth of 20-30 percent in the segment.
He said in 2017 they decided to change their split air conditioners into inverter-based with a green-gas in 2017. Seeing the success of this move, LG shifted all their commercial air conditioning to being inverter-based with green gas.
Khatwani said the emphasis is on four areas: noise reduction, sleeker size, energy-efficiency and environment friendliness.
The current market for air conditioners in India is Rs 4,200-4,300 crore in terms of product sales in 2018. He added that Tier 3 and Tier 4 regions are seeing a faster rate of growth than the bigger towns because of a rise in aspirations. “The large cities are saturated. The infrastructure is growing at a faster pace in Tier 2 and below regions than metros,” he stated.
At South Asia’s largest HVAC-R (heating, ventilation, air conditioning and refrigeration) exhibition in Mumbai, LG displayed a new set of Variable Refrigerant Flow (VRF) systems, a hydro-kit for hot water generation, chillers like Magnetic Bearing Centrifugal Chiller as well as light commercial systems.
Khatwani said the new products are not energy efficient, quiet and green, and also have some features that will cater to the wide array of requirements of customers, architects and HVAC consultants.
In the light commercial systems, the company has launched products like inverted-ducted, inverter-cassette, inverter-floor standing, inverter-split air conditioners and control systems.
He said their inverter-ducted air conditioners suit most types of applications including offices, banks, retail areas, educational institutes, control rooms and industrial applications.