C.R.I Pumps a Coimbatore based pumps manufacturing company has diversified into wires and cables segment. The company enters the high-end specialises wires and cables market with an investment of Rs 125 crore and aims to target 4 to 5 per cent market share in this segment.
According to the company, the Indian wires and cables industry’s market size is estimated at Rs 40,000 crores. Out of this, C.R.I’s target segment’s market potential is about Rs 14,000 crores. “With the increasing demand for power, light and communication, this market is expected to double in the size in the next five years. This makes it the right time to enter the wires and cables segment,” C.R.I Pumps said issuing a statement.
Over the last 25 years, the wires and cables industry has moved from being a small industry to a large one. The sector continues to remain highly fragmented predominantly by organised players. “The demand for specialised cable and wire products for speciality applications will result into greater opportunities for C.R.I.,” the statement adds.
C.R.I.’s Research Centre has developed high end specialised wires and cables.Categories of manufactured applications:
High temperature application XLPE (cross linked polyethylene) submersible winding wire with higher dielectric strength.
High efficient DC solar cables for fast growing solar industry.
Lead free insulated cables for hygiene applications, EPDM cables for low ambient applications, special oil resistant and chemical resistant cables.
Halogen free flame retardant wires and fire retardant low smoke wires.
At present the wires and cables market in India comprises nearly 40 per cent of the electrical industry. The company has developed a manufacturing facility near Coimbatore and invested over Rs 90 crore. With this new facility and the diversification into wires and cables segment, the company is targeting Rs 5,000 crore turn over by 2021.