The company aims to capture 10 per cent share of the Rs 6,000 crore market, which is largely concentrated in metros and big cities, in four to five years.
"The water purifier industry is growing much faster but its penetration is still at a nascent stage in small towns and rural areas. We believe the segment has a huge potential for growth," Havells India Senior Vice President Narendra Choudhary told reporters here.
Industry estimates have pegged the water purifier segment at Rs 6,000 crore, with an annual growth of at least 20 per cent. The organised sector caters only to Rs 3,500-Rs 4,000 crore market. The remaining is largely unorganised.
"We are still in the launch mode. Our leverage is our strong distribution and after sales service network," he added.
On Friday, the company launched six variants of its water purifier in Punjab, Haryana, Himachal Pradesh, Jammu and Kashmir and Chandigarh.
The company will make these water purifiers at its Haridwar plant in Uttarakhand which has an installed capacity to make half a million units annually.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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