Air-Conditioner maker Blue Star is aiming to achieve 12.5 per cent market share during the Financial Year 2018-19 as against the present market share of 11.5 per cent. Blue Star has grown faster than the air condition industry in calendar year 2017. While the industry achieved a growth rate of 10% in CY 2017, Blue Star achieved a growth rate of 15%.
India Meteorological Department has predicted a hot summer this year when the peak summer temperature is expected to cross all time high. Air Condition makers in the country expect a good demand for air conditioners because of severe hot summer.
Like other AC makers Blue Star too is introducing new air conditioners this season. The company has launched 100 new air conditioners including 40 new models of energy-efficient 3-star and 5-star inverter split air conditioners. Blue Star is introducing a few innovative models which deliver 30 per cent extra cooling power, faster temperature pull-down and extra energy savings apart from precise temperature setting in steps of 0.1 degree Celsius and 0.5 degree.
Blue Star will be setting up new AC manufacturing unit in Andhra Pradesh. The company has acquired 20 acres of land in Sri City in Chittoor District of Andhra Pradesh. The company will invest about Rs 200 crore in the proposed project. The plant construction works will start in September this year and will complete after 18 months period. The plant will start production of air-conditioners during the summer season of 2020. The plant capacity will be around half million units.