B Thiagarajan states that the growing trend of outside-the-home consumption, especially in perishable foods, is a major growth driver
Highlighting that demand from ice cream original equipment manufacturers (OEMs), quick service restaurant (QSR) chains, hotel, restaurant, café (Horeca) sector, quick commerce, food retail and healthcare has helped the industry, B Thiagarajan, Managing Director of Blue Star stated that the commercial refrigeration industry is witnessing strong growth.
Thiagarajan, in a statement from the company, added that the growing trend of outside-the-home consumption, especially in perishable foods, is a major growth driver. He highlighted that the company has made significant investments in digitalisation and Internet of Things (IoT) technologies to improve its product offerings and streamline operations.
“With a promising summer season ahead and a diverse product range, we are confident in our growth prospects for this fiscal year and beyond. We are committed to enhancing our market leadership by offering an innovative range of energy-efficient and eco-friendly products,” he added.
Earlier, speaking to the press at a conference held in Chennai, Thiagarajan stated that with India set to add approximately 450 million middle-class consumers by 2030, the market for room ACs is at its inflection point and is poised to grow exponentially over the next few years.
“Positive trends, such as the expansion of the housing sector, increased adoption of renewable energy, and growth in the rural economy, are also expected to shape the industry’s future. This represents a significant opportunity for us, backed by over 80 years of air conditioning expertise and a strong market foothold,” the MD stated.
He added that the company continues to make significant investments in research and development (R&D), manufacturing as well as supply chain to enhance competencies and capabilities to effectively leverage the growing demand.
Blue Star’s production capacity is currently around 1.4 million room ACs, with plans for gradual expansion to 1.8 million units in the near future. The company’s statement added that it operates two dedicated plants in Himachal Pradesh for manufacturing room air conditioners.
