Having experienced a setback amid the Covid pandemic, which affected the sale of fans during summers, the home appliances makers are banking on the northern region for water heaters. The region contributes 40% to total sales across the country.
The Indian water heater market was pegged at Rs 2,500 crore in 2019. There are around dozen players in the organised sector besides local players which cater to the demand.
“For the past two years, the water heater market is growing at 8-10%. The northern region is important to us as maximum sale is recorded during November to March. To have a bigger share of the market, we have launched nine models,” said Rohit Mathur – President – electric fans, water heaters & pumps, Usha International. The growth of water heater market is also led by new residential units, rising per capita income and improved standard of living.
“Last year, especially during December, no stock was available in market because of high demand. We hope the demand will revive with the onset of winters,” said Mandeep Saini, a senior executive working with a retail chain.
On being asked about how market in North was different from South, he said, “North is subjected to harsh winters and heaters with big capacities are preferred. However, in the South, smaller model is a preferred choice and sold across the year.”