Blue Star Limited, an air-conditioning and refrigeration firm, has intensified its focus on the commercial refrigeration market that is expected to touch ₹5,000 crore mark in the next three years.
Post COVID, the company has been witnessing an uptick in demand for commercial refrigeration products and solutions from across segments and especially from Pharmaceutical, Healthcare, Fast Food Chains, Quick Service Restaurants clients.
Blue Star on Thursday unveiled a new range of commercial refrigeration products and solutions for storing vaccines. These specifically designed, temperature-controlled refrigerators and transporters, included Ice Lined Refrigerators (+2°C to +8°C) and Vaccine Transporters (+8°C to -20°C).
Addressing the media B Thiagarajan, MD, Blue Star said, “The need for commercial refrigeration in India is increasingly becoming vital across industries. In fact, compared to developed countries, adoption here is only at a sub-5% level, which translates into huge opportunities for us. We expect to double our revenue from commercial refrigeration to ₹2,000 crore in three years.’’
At present, the county’s commercial refrigeration segment is valued at ₹3,000 crore of which Blue Star has a share of ₹1,000 crore. Its vaccine-related storage and transporters orders could reach ₹150 crore until September 2021, he added.
Blue Star is setting up a new plant at Wada, where it already has a manufacturing facility, to produce deep freezers and storage water coolers. The new plant, which’s coming up at an outlay of ₹130 crore, will have the capacity to produce 2,00,000 deep freezers and 1,00,000 storage water coolers per annum.