Consumer electrical goods maker Havells, which today announced its foray into the water purifier segment, is aiming to have around 10 per cent market share in next 3 to 4 years.
Havells has set up a plant to roll out water purifiers at its Haridwar-based unit, which is a part of Rs 100 crore over all annual maintenance capex of the company, said a top company official.
"We are targeting to garner at least 10 per cent market share in next 3-4 years," said Havells India Executive VP Narendra Choudhary.
Havells has introduced six product variants in the water purifier segment priced between Rs 10,499-23,999 and plans to launch more in the coming months.
The total market size of water purifiers is estimated at around Rs 6,000 crore and is dominated by companies as Eureka Forbes and Kent RO.
"With only one per cent of the country covered, this is an extremely under penetrated and much needed product. Our products will address consumers' need," said Havells India Vice President Shashank Shrivastav.
Havells has an installed capacity of half a million units per annum.
"With an expected growth of 15-20 per cent in this segment and aggressive plan to be a significant player, Havells is fully equipped and future ready to ramp up the capacity to one million units per annum," the company said.
According to Choudhary, Havells' water purifiers maintain the pH balance in water and add a wide range of naturally occurring essential minerals and trace elements that are lost during the reverse osmosis (RO) process.
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