A O Smith Grows Faster than Market in India
The water heater market in India is estimated at approximately Rs 1800 crore and growing at about 9 percent, while AO Smith grew by 34 percent in the last financial year.
Milwaukee, Wisconsin, US-based A.O.Smith, the world’s largest manufacturer of water heaters continued its success story in India, growing at over 40 percent for the last 2 years. The company clocked revenue of Rs 240 crore in 2018 compared to last year’s revenue of Rs 170 crore. India has also emerged as the fastest growing market for A. O. Smith worldwide, beating major markets.
Parag Kulkarni, MD, A.O. Smith India, said that they are growing significantly faster compared to the market growth. The water heater market in India is estimated at approximately Rs 1800 crore and growing at about 9 percent, while AO Smith grew by 34 percent in the last financial year. A. O. Smith has always been a premium brand offering technologically advanced solutions in both water heater and water purifier categories.
The water purifier market stands at around Rs 4,500 crore. While the industry is growing at around 15 percent in the RO segment, A. O. Smith grew by 58 percent in 2018. A. O. Smith water purifier is now available in over 50 cities across India and the customer response from Tier II and Tier III markets are as positive as it has been from the Metros.
Kulkarni said that they’ve been gaining the trust of consumers ever since they entered the water purifier category. This inspires them to innovate and offer solutions for not just the problems of today but also of tomorrow. They have a strong portfolio of “Green Series” – Most Energy Efficient Water Heaters and India’s Highest Recovery RO Water Purifier. They’re committed to raising the bar further in both water heaters and water purifiers category,” he said.
