New joint venture formed to try and lead fast growing market for VRF technologies in India as part of wider expansion into overseas markets
The Toshiba Carrier partnership has unveiled an Indian air conditioning joint venture intended to localise its market strategies and product development for commercial VRF products in the country.
Toshiba Carrier Air-Conditioning India was formally launched last month and builds on work of an ongoing partnership between Toshiba and Carrier that was initially established in Japan via a memorandum of understanding signed in March 2015.
The joint venture is claimed to be part of a wider collaborative approach to expand the partnership’s presence to new commercial air conditioning markets.
Meting strong demand for variable refrigerant flow (VRF) solutions that can meet larger scale demand for air conditioning functions in properties such as offices and condominiums is a particular focus of the new focus in India.
The joint venture cited figures compiled by the International Monetary Fund for its April 2018 World Economic Outlook as a reflection of the market potential in India for new technology solutions to deliver cooling.
A statement on the project read, “Driven by strong domestic demand from its population of approximately 1.3 billion, India is expected to continue a fast economic growth, as shown in its annual GDP growth at 7.4 per cent.”
The manufacturing operations of Carrier air conditioning and refrigeration in India will be used by the joint venture to support efforts to tackle demand and try and lead the country’s VRF market. This will be backed by existing nationwide distribution and sales networks used by the company.
India as a market is also a key focus of efforts to establish more viable, holistic market specific approaches to cooling that is being undertaken by experts at the University of Birmingham in conjunction with other academic and government bodies.
This work looks at wider potential challenges to ensuring sustainable cooling across the country’s supply chain that aims to take into account economic as well as political considerations that serve as market barriers.
Source: RAC plus