Daikin India Eyes USD 920 Million Turnover In Two Years
Published Date | 2019 January 9
Daikin India target to achieve 42 billion riding on the back of exports to SAARC region and third factory in South India by 2020-21 will drive the Air Conditioner consumer market in India.India: Daikin India, Japanese air conditioner maker eyeing to touch an annual sales turnover of 100 billion yens (about Rs 6,400 crore) in the next two years, addition of new products and increase in exports to SAARC region, eastern Africa and Middle East countries. Currently, company has two functional units in Neemrana, Rajasthan The company is also planning to have third plant in South India to catch up the growing AC market and to optimize cost structure and export oriented. Daikin India MD and CEO, Kanwaljeet Jawa said: "Daikin India with now managing business across East Africa, Sri Lanka, Bangladesh, and Nepal have set a target to achieve 100 billion yens riding on the back of exports and third factory by 2020-21". India is gaining a reliable manufacturing reputation across the globe; the third Daikin facility will serve the growing local consumption. Company is expecting estimated revenue around Rs 4,200 crore in 2018-19. They had reported a turnover of around Rs 3,250 crore in 2017-18. Company has forayed into commercial refrigeration/cold chain business last year, has a present capacity to roll out 15 lakh room ACs, 50,000 VRV units, 1 lakh cassette units, 20,000 duct able units, and 1,000 chillers. According to BlueWeave Consulting, Daikin, Japanese air-conditioner maker is a global leader in the manufacturing of commercial-use and residential air conditioning systems. Backed by the superior technology offers premium air conditioning solutions in the Indian market for large-scale projects. Growing retail and hospitality sectors, rising construction activities across airports, metros and new housing societies along with the increasing establishment of SMEs and commercial hubs have fueled the market for air conditioners in India. Air conditioners were once considered a luxury but are now seemingly becoming a necessity. Commercial and residential space-cooling demands are growing steadily all across India. Moreover constantly rising temperature along with increasing purchasing power, increasing government spending towards public infrastructure have increase the air conditioner market in the country. Additionally, advance technology in air conditioners, like inverter technology, smart air conditioners, etc., is further anticipated to augment the demand for air conditioners across India over the forecasted period. According to BlueWeave consulting upcoming report Title - “India Air Conditioners Market, by Type (Centralized AC, Split AC, Window AC, Packaged AC, Portable AC and Others), by Application (Residential & Commercial), by Region (North, West, East and South); Size and Forecast, 2014-2025,” India Air Conditioners market is expected to grow at a significant growth rate during the forecast period owing to changing climatic conditions, and changing consumer lifestyle. The Northern region has captured major share in the overall air conditioner market followed by the Southern and Western region due to constantly rising temperature along with increasing purchasing power of the consumers is further fueling growth in the India air conditioners market.