V-Guard Industries launched its Pebble series of premium water heaters in two variants with features such as anti-crack protection for inner tank.
The company aims to corner significant market share from this segment of water heaters, which at present stands at Rs 100 crore in Maharashtra alone, V-Guard Industries Ltd Vice President for Marketing Deepak Augustine said after the launch.
"We are extremely delighted to launch this Pebble series of branded water heaters in Maharashtra, which is a fast growing market for these products due to new residential townships and housing projects across the state," Augustine said.
He said that the branded electric water heater market size currently stands at around Rs 800 crore and is growing at around 20 per cent annually.
At present, V-Guard electric water heaters are available in 32 districts out of the 34 districts in Maharashtra.
