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This is an archive article published on April 20, 2005

Daikin looks to India for growth

Global air conditioner major Daikin Industries Ltd is looking to India for driving growth in future, in the wake of a saturated market in Ja...

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Global air conditioner major Daikin Industries Ltd is looking to India for driving growth in future, in the wake of a saturated market in Japan.

“Though at the moment India’s contribution to Daikin’s global AC business is small but India should contribute about 15 per cent to our total overseas business between 2005-07,” Daikin Industries’ Deputy General Manager Global Operations S. Egawa said while sharing the company’s global demand forecast on Tuesday.

Besides India, the Japanese major is targeting a growth of 10 per cent, 9 per cent and 7 per cent from Europe, Asean/Oceanic and China respectively by 2005-07.

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Daikin which is the No 3 AC player worldwide (after Carrier and Trans of the US) enjoys 18 per cent market share in the residential and 43 per cent share in commercial segment respectively in Japan. However, the company foresees zero annual growth in Japan in the years ahead.

The company’s 100 per cent subsidiary Daikin India would be posting a net profit this fiscal, company sources said. The company, however, would continue to offer products in the premium segment only.

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