Indian households spend over Rs 1,164 crore on purchasing electric water heaters

Indian households had spent over Rs 1164 crore on purchasing electric water heaters for bathing purpose in last twelve months, a latest study by market tracker GfK said.

The study also pointed out Indian consumers prefer storage water heaters over the instant type with every seven in ten units sold being the storage type with balance 30% being the relatively cheaper instant water heaters. Around nine of the ten water heaters sold in India were either rated four or five star in energy efficiency indicating Indian consumers are now much more conscious about saving energy and electricity cost.

“Although Indian households utilize several different methods of heating up water such as boiling, using immersion heating rod, solar water heaters, and gas water heaters, many are increasingly turning to electric water heaters for safety,” said Dheeraj Mukherjee, senior director, technology and home & lifestyle for GfK in India. “Although storage water heaters are more expensive, they are preferred due to the larger family sizes in India, which makes more financial sense in the long run.” Read More…