Honda India Power Products Ltd. (HIPP), which has announced its entry into the marine outboard business, aims to capture a 10% market share in four-stroke engines in the first three years, a senior official said.
On Wednesday, HIPP unveiled a range of 4-stroke marine outboard engines for those working in maritime security, coastguard, tourism, leisure and commercial fishing.
“The Indian marine industry is sized at 10,000 units per year, of which 70% are 2-stroke engines and 4-stroke engines,” said Gagan Pal, vice president, director of sales, marketing and service. “We want to conquer 10-15% of the market for 4-stroke engines in three years.”
He assured that these 4-stroke engines will be imported from Japan as complete built units and said that HIPP would offer them in three categories – small (6-20 hp), medium (22-100 hp) and large (up to to 250 hp). The entry-level engine costs 1.80 lakh, while the top-end costs 23 lakh. It will be available from April.
In response to a question, he said that once it reaches scale, HIPP would consider manufacturing it in India.
