Bhubaneswar: V-Guard Industries Ltd., India’s leading consumer electrical and electronics major, today announced the launch of its latest offering of air coolers in Odisha, which aims at consolidating its position in one of the fastest growing markets of the country.
Available in three categories –Desert, Personal, and Window, these ergonomically & aesthetically designed ranges of air coolers are at the forefront of ingenuity and innovation. The air coolers have an aerodynamically balanced body for better stability and a tetra airflow cooling system for efficient air circulation. Along with these, the corrosion resistant fan blades and un-drip water flow distribution, increases the life span of the product. With this launch, V-Guard has further strengthened its position in the air cooler market.
Commenting on the launch, Mithun Chittilappilly, Managing Director, V-Guard Industries Ltd. said, “We are extremely thrilled to launch a new series of air coolers in Odisha, which also marks our entry into this category. The Air Cooler category classifies into Industrial & the Residential segment with residential commanding a 90% share. The market for the branded air cooler is growing rapidly because of new residential townships and housing projects across the state. The air cooler market in India is growing at a fast pace. This segment has provided us an opportunity to debut with a range of products that stand for V-Guard’s assurance of quality, reliability, trust and durability. With Odisha being an important market for us, we will continue to expand more in this region”.
The air cooler range comes in three different categories offering unique features. The air coolers are ergonomically designed to suit different geographical terrains and provide consumers a choice to use these air cooler in big and small areas. The air cooler series comes with a product warranty of 1 year and extended warranty on Motor & Pump for 1 more year. Effectively, a warranty of 2 years on Motor & Pump. And this is backed up by a prompt after sales service. The air cooler range starts from an entry price of Rs. 6990.
Various estimates peg the Air Cooler industry in India at INR 3000-3500 Cr in 2017. Out of this organized is 37% & unorganized is 63%. The market is expected to grow to INR 7900Cr by 2022 with organized share growing to 56%. V-Guard have seen tremendous opportunities for growth in the air cooler market and have forayed into this sector. The growth drivers for increased share of organized players is greater affordability, urbanization & impact on the unorganized sector.