Ingersoll to launch more India specific cold chain products

The diversified firm has introduced a new refrigerated transportation product, Thermo King B 100, priced at Rs 2 lakh, as it looks to capture 25 per cent share in the estimated USD 500 million refrigeration market in India within 2-3 years. "We are targeting a share of 25 per cent in the Indian refrigeration solutions market within 2-3 year," Ingersoll Rand India Chairman and President Venkatesh Valluri told reporters.

He, however, declined to share the company's current share in the Indian market as it is "very much unorganised at the moment" but said it is valued at around USD 500 million and is growing at 15 per cent annually. "The product that we launched today is a step towards addressing the problem of large scale wastage of perishable food items in the country," Valluri said, adding more products would be launched in the coming months.

Thermo King B 100 is intended to address the needs of a tropical climate like India where up to 35 per cent of agriculture produce is wasted due to lack of cold chain infrastructure, he said. "In the next few months we will also launch a product for applications that require temperatures below zero degrees Celsius which could serve a variety of applications including special food, dairy, pharmaceuticals and health," he said.

On the company's India strategy, he said: "We are the only global player in this segment offering products and solutions for the entire cold chain and our aim is to create and dominate the organised segment." Valluri said the 'B 100' launched today has features like a cooling capacity of 1,050 watts at zero degree temperature and is designed to be fitted in small refer trucks for use in narrow lanes and can operate in low horsepower engines.

Asked about the sales target from the new product, Valluri said: "It is too early to provide a sales figure. However, there is absence of any other player in this category and we hope to garner a dominant share in this segment."

In the Indian market, the company has presence in various segments, including farm refrigerated transport, food processing and packing refrigeration, insulated panels for warehousing, retail refrigerated display merchandising. The Dublin-headquartered USD 13 billion company specialises in a number of fields including consumer durables, electrical and home appliances and security systems.