Industrial solutions provider Ingersoll Rand has taken the next step in entering the residential market through its Trane brand, which is now targeting the premium segment of the air-conditioning market.
The company, essentially in the business-to-business space, began the rollout of its ‘Trane’ brand of heating, ventilation and air-conditioning (HVAC) systems here on Tuesday. The new portfolio uses the ‘ZigBee’ technology, which allows various products to be controlled by a single remote.
“We realised that we needed to expand the number of sectors that we are in. We are considering an overall investment of $100 million over the next three to five years. With this, we hope to target 5 per cent of residential market in the next two to three years,” said Venkatesh Valluri, Chairman and President, Ingersoll Rand India.
“What we are trying to do is aim at people who are looking for better, more upgraded versions of their existing AC units, not the people who are buying an AC for the first time,” he said.
The firm, whose Chennai plant will be ready in the first-half of 2013, will expand its distribution reach to 250 partners and dealers across 30 cities over the next year.