Hitachi is planning to enhance its focus in the Indian market. According to Franz Cerwinka, global CEO of Hitachi, the company wants to make India among the top three markets in AC markets. Presently with 11 per cent marketshare in ACs, India is among the top 10 destinations of the company.
Hitachi has recently invested Rs 150 crore in revamping its production capacity in Gujarat. Presently, the manufacturing unit can trunaround 2 million units of ACs in a year and this will further be increased in the coming years. In the next five years, Hitachi wants India to contribute 20 per cent to their revenue and for that the company is planning to launch new and innovative products which customers will like.
The company has recently launched energy efficient air conditioners and they feel this product will be a runaway hit in the market. Competitors of Hitachi are also focusing on coming up with energy efficient air consitioners because these products are in demand in the market.
According to a recent study by consulting firm EY and Consumer Electronics and Appliances Manufacturers Association (CEAMA), the appliances and consumer electronics sector in India is estimated to expand at a compound annual growth rate of 13.4 per cent, to touch $20.6 billion by 2020.
By Atanu Kumar Das