The government's spending on infrastructure coupled with a revival in the real estate sector will spur demand for commercial cooling products, Toshiba Carrier Corporation (TCC) said today.
TCC, which provides cooling solutions for the commercial sector, is a JV between Japan's Toshiba and US-based United Technologies, which owns Carrier Air Conditioner.
The company today unveiled new products to expand its offerings here.
"Our overall business in India is growing in double digits from last 3-4 years," United Technologies -Climate, Controls & Security, India Region Managing Director Arun Bhatia said.
"The government is spending on infrastructure and we are definitely seeing our pipeline on that side going up as new metro, hospitals, airports are coming up, while on the private side, commercial real estate is coming back," he added.
Bhatia also expects high-end residential projects as well as the Smart City scheme to give a further fillip to demand.
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The company is working with leading real estate players like Tata Housing, Rahejas, DLF and Godrej.
Presently, around 40 per cent of JV's revenue comes from Toshiba while the rest 60 per cent is contributed by the Carrier brand.
"In the large chillers category, which is used in big buildings and airports, there we are investing more in our factory in India and localising more and more. We are investing here ahead of the curve," Bhatia said.
For the room air-conditioner segment, Carrier has a joint venture with Midea Group here.
According to Bhatia, the overall Indian air-conditioner market is estimated to be around Rs 20,000 crore, of which the residential segment accounts for 80 per cent share.