V-Guard Industries Ltd has announced the launch of a new range of water heaters styled Pebble in the market. The product is available in two variants comprising 6, 10,15 and 25 litres capacity with 5-star rating for power efficiency.
With this launch, V-Guard has further strengthened its position in the water heater market having a market size of over Rs 700 crore in the organised segment, Mithun Chittilappily, Managing Director, V Guard Industries, said.
V. Ramachandran, Director, Marketing and Strategy, said the water heater market in India is growing at a rate of 15-20 per cent every year. V-Guard currently has a 15 per cent share, of which 70 per cent of the business is from South India.
The Kerala market, with a 50 per cent share, is worth about Rs 40 crore, he said.