Chennai: Water heater manufacturing major A. O. Smith, stated that it us growing at over 40 per cent for the last two years (FY Jan-Dec) in India, with the company clocking revenues of Rs 240 crore in 2018 compared to the previous year’s Rs 170 crore.
India has also emerged as the fastest growing market for the firm worldwide, beating major markets, said a release.
The water purifier market stands at around Rs 4,500 crore. While the industry is growing at around 15 per cent in the RO segment, A. O. Smith grew by 58 per cent in 2018, said the release.
“We are growing significantly faster compared to the market growth. The water heater market in India is estimated at approximately Rs 1,800 crore and growing at about nine per cent, while A. O. Smith grew by 34 per cent 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,” said MD, A.O. Smith India, Parag Kulkarni.