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HVAC industry to grow by 10-12%

HVAC industry has a huge potential because after a  phase of slowdown, economy is expected to grow and lot of investments will come in infra and commercial space development, feels M. P. Agarwal, Vice President and Business Head, System Air Conditioners, LG Electronics India
HVAC industry is doing reasonably well since air conditioning has become a necessity for the comfort and other applications. In an exclusive interview, M. P. Agarwal talks about the horizons of the HVAC industry and LG’s 4th-generation product.
What are the different products you offer?We have a flagship product called “Multi V”, which is based on variable refrigerant flow system. We are now offering 4th-generation Multi V-IV. It is the most energy-efficient product in its category and the industry. Our complete range of Multi V includes Multi V space which is best suited for high-rise apartments, Multi V with AHU for large commercial spaces, and Multi V with water application.
Other than the comprehensive range of Multi V, LG also offers many quality and innovative products like cassettes, ductable units and roof top units etc.
Could you brief us more about the newly launched Multi V?LG’s newly launched Multi V is the 4th-generation system which is full inverter technology. The unique feature of this product is its COP (4.78) and active oil and refrigerant control system, ensuring high reliability. This system is ideally suitable for residential, hotels, offices and various commercial applications.
How do you see the potential of this industry?HVAC industry sustains on investment in infra projects, new commercial space development and premium housing segment. After a slowdown, Indian economy is poised for growth, and we expect lots of investment in infra and commercial space development. Every player is looking forward to premium residential sector.
What percentage of growth are you expecting this year?I would say that HVAC industry should grow by 10-12 per cent. LG will definitely surpass the industry growth by a sizeable margin.
How did your company perform in the last year?LG has done exceedingly well. We have a good product portfolio and a strong channel network to meet the demands of the target market.Have you not faced any kind of challenges in the last year?Challenges and competition go hand in hand. As you know the FDI is through, do you see the opportunities coming in this HVAC industry?Positive repercussions would definitely be felt with the advent of FDI propelling growth in HVAC as well as commercial and infrastructure industry.
What are the key drivers to your growth?Innovation, value creation and customer satisfaction are the key growth drivers. Our business partners have also played an important role in nourishing our growth.
Tell us about your after-sales services.The after-sale service is most important factor for customer retention and business growth. LG is committed to provide excellent services during warranty and post warranty period. We have an online call management system though which we receive and monitor the customers’ calls. We ensure the complaints are addressed within a stipulated time.
Our engineers and channel partners are extensively trained on product technology and troubleshooting at our Greater Noida and Pune Training Academy.
Tell us about your manufacturing facility.We have two manufacturing facility: one in Greater Noida and the other one in Pune.
The commercial air-conditioning products are manufactured in Pune factory which is equipped with state-of-the-art manufacturing infrastructure to ensure best quality. LG has one of biggest test chamber in the factory to test Multi V products under simulated conditions.
Anything else you would like to share.Today the customer is very conscious about environmental issues. Since HVAC system is a major consumer of power, the focus is on the products that are energy efficient and reliable. The capital cost and operational cost play important role in decision making.
LG as an organisation is committed to offer eco-friendly products and reliable after-sales services.

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