80 Market There is a vast potential for the water heater industry to expand in India. With around five million water heaters sold in 2020, the industry is valued at about C2,800 crore and is expected to grow at a CAGR of 9-10%.The growth rate can easily be accelerated by widening its penetration which presently stands at 10-12% of the population. Today, some of the factors driving the industry include increasing disposable incomes and spreading urbanisation, amongst others. Another key trend of the industry is the wave of digitisation, namely the traction in the smar t products category. As the Internet of Things (IoT) has evolved, everything including phones, watches, cars and cities are turning smar t and increasingly becoming a par t of the connectivity web. From connected lighting systems to voice-activated intelligent speakers and programmable thermostats that learn the customer’s preferences, IoT integrated with smar t home appliances are redefining our daily routines to make life easier.The water heater segment is no different.With increasingly busy lifestyles, instant heating along with other smar t features are becoming must-haves, apar t from the other functional aspects of water heaters. The growth in the real estate and construction sector has increased the demand for water heaters over the last few years. Although the water heater segment can be divided into industrial, commercial and residential, it is, in fact, the residential sector that is the largest revenue contributor to this market.This is on account of the increase in housing projects in the country and the government’s push towards affordable housing and rural electrification. While electric storage water heaters are currently dominating the market, a surge can be seen in other technologies like heat pumps and tankless instant water heaters. Solar water heaters, though growing at a slightly lower pace, are still prominent in the overall water heating industry construct as consumers are becoming more conscious about the environment and renewable energy. Achievements Racold has been setting standards in the Indian water heating industry by bringing in new technology, enhancing the aesthetics, quality, durability and performance of its products. Racold is amongst the most respected, trusted and the oldest brands of water heaters in India. It has been challenging existing norms in the industry through its path breaking innovations which resonate with consumer needs. Racold is the only water heater brand to be recognised by the Bureau of Energy Efficiency (BEE) for the tenth time in 2020; it has also won multiple Ministry of New and Renewable Energy Awards (MNRE).These and many other such recognitions have cemented Racold’s status as one of the country’s largest water heating solutions provider. Racold has added another feather to its cap by bagging the prestigious Emvies Grand and Emvies Gold Awards in the consumer durables category. Racold won these awards for its innovative search campaign on Amazon – Mind Your Language – that resulted in an elevated ROI on the platform. The brand competed with other top consumer brands from the country and was felicitated by Adver tising Club, Mumbai. History Racold is one of India’s largest water heating solutions providers with over 60 years of customer trust. It is a fully-owned subsidiary of The Ariston Group, Italy the world leaders in the manufacturing and marketing of water and space heating products and their components. Ariston Group is a leading global company in the water heating and heating industry.The group develops and provides solutions based on renewable energy sources, such as solar thermal systems and heat pumps through a continuous investment in innovation for the development of increasingly advanced connectivity systems. In 2020, the group recorded a turnover of C1.66 billion and sold 7.5 million products in over 150 countries. It is spread large with 7,400 employees; 70 operating companies and six representative offices in 42 countries; 25 production sites in sixteen countries and 26 centres of competences and R&D in fifteen countries.The group offers a full range of products, systems and services, mostly under the brands Ariston, Elco, Chaffoteaux, ATAG, Racold, NTI and HTP. The goal of Ariston Group is to look at the future of thermic comfor t, offering an optimal combination of quality, energy savings and care for the environment. Product Racold is a brand synonymous with breakthrough innovation and redefining the category. Ever since its inception, Racold, has been setting unprecedented benchmarks for the industry by bringing in new technology, enhancing the aesthetics, quality, durability and performance of Ever since its inception, over 60 years ago, Racold, a pioneer in the water heater market, has been setting unprecedented benchmarks for the industry by bringing in new technology, enhancing the aesthetics, quality, durability and performance of its products. Backed by a deep understanding of evolving consumer needs and its strong global expertise, Racold has been the front-runner of technology in water heating. Its new launch of Omnis and Aures range of water heaters with advanced features are proving to be game changers. for its energyefficient water heaters 10th time Racold has received the Bureau of Energy Efficiency Award for the Superbrands 2022 in.superbrands.com
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