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India Home Appliances Market

India Home Appliances Market Size, Share, Growth, Forecast: By Type: Major Appliances, Small Appliances; By Price Range: Economy, Mid-Economy, Premium; By Distribution Channel: Supermarkets and Hypermarkets, Specialty Stores, Online, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

India Home Appliances Market Size

The India home appliances market reached a value of approximately USD 77.74 billion in 2023. The market is further expected to grow at a CAGR of 5.70% between 2024 and 2032, reaching a value of USD 127.07 billion by 2032.

 

India Home Appliances Market Outlook

  • As per industry reports, about 50% of households own a microwave oven and 33% of Indian households own a refrigerator.
  • The market is expected to see a 20-35% increase in sales of refrigerators and air conditioners this summer, driven by hotter than usual weather predicted across the country.
  • Godrej Appliances is expecting a 20% growth in sales of air conditioners, and it announced an additional investment of around INR 800 crore in expanding its manufacturing capabilities, aiming to close the current fiscal year with a revenue of INR 8,500 crore.

 

India Home Appliances Market

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India Home Appliances Market Growth Rate

Home appliances are devices that help in various household activities such as cleaning, cooking, and storing food, among others. Some of the common home appliances include air conditioner, washing machine, clothes dryer, refrigerator, freezer, water heater, and dishwasher. Utilisation of these appliances help individuals in saving both time and energy while efficiently finishing the household chores.

 

Some of the factors aiding the India home appliances market development include the modern Indian consumers' time-constrained lifestyle, which necessitates home appliances that perform seamlessly without glitches. Additionally, factors like rising disposable incomes, improved living standards, and the growing awareness of energy-efficient and smart appliances contribute significantly to the expansion of the home appliances market in India.

 

Key Trends and Developments

Several benefits of home appliances, introduction of energy-efficient appliances, and growing penetration of market in rural areas are factors boosting the India home appliances market expansion

 

May 2024

FCB Interface secured the creative mandate for Philips Home Appliances, aiming to drive marketing and communication strategies for Garment Steamers and Air fryers. This partnership solidified FCB’s position as a key player in promoting Philips Kitchen Appliances and Garment Care products.

 

April 2024

LG Electronics introduced cutting-edge kitchen appliances at Milan Design Week 2024, featuring the Signature Kitchen Suite built-in oven, free zone induction hob, and downdraft hood. These innovative products offer premium design, convenience, and elegance and allows the brand to reach European consumers.

 

April 2024

Samsung has announced AI TVs in India, such as Neo QLED 8K, Neo QLED 4K, and OLED TVs at the 'Unbox & Discover' event in Bengaluru. The new TVs are designed to deliver unparalleled visual immersion and sound quality, solidifying Samsung's position in the Indian market.

 

April 2024

Voltas became the first brand to surpass the 2-million-unit sales figure in in the fiscal year 2023-24. The company recorded a robust 35% year-on-year growth in sales, driven by strong consumer demand and its extensive distribution network across the country.

 

Rising adoption of home appliances in rural areas

Increasing urbanisation and improvements in connectivity of rural areas is projected to increase the overall demand for home appliances in India. With rising urbanisation and enhanced connectivity, home appliances are becoming easily accessible and widely adopted in rural and urban areas of the country.

 

Rising awareness about advantages of home appliances

Growing promotions of home appliances and rising awareness about their advantages are increasing the demand for the regular use home appliances in India. As a wide range of products are becoming available in varying price points, more consumers are investing in suitable home appliances to improve their daily lives.

 

Increasing demand for smart and connected appliances

Smart refrigerators from Samsung and LG, smart air conditioners from Voltas, and smart washing machines from Bosch are gaining popularity in India. These appliances offer features such as remote control via smartphone apps, energy usage monitoring, and compatibility with virtual assistants like Amazon Alexa.

 

Shift towards energy-efficient appliances

Leading brands like Whirlpool, Haier, and Godrej are introducing a range of energy-efficient appliances in the Indian market, such as 5-star rated refrigerators, inverter technology air conditioners, and eco-friendly washing machines. These appliances help consumers save on electricity bills.

 

India Home Appliances Market Trends

Companies like Panasonic, IFB, and Symphony are expanding their distribution networks and retail presence in tier-2 and tier-3 cities across India to reach a wider customer base. By establishing partnerships with local retailers and leveraging e-commerce platforms, these brands are making their products more accessible to consumers in smaller towns and cities. This strategic expansion is not only driving sales growth but also fostering brand loyalty, contributing to the overall India home appliances market growth.

 

Moreover, LG, Samsung, and Whirlpool are continuously introducing innovative features in their products, such as AI-powered refrigerators, steam-cleaning ovens, and app-controlled appliances. These advancements are aimed at enhancing user experience, improving efficiency, and differentiating their offerings in a competitive market.

 

India Home Appliances Market

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India Home Appliances Industry Segmentation

The EMR’s report titled “India Home Appliances Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments

 

Market Breakup by Type

  • Major Appliances
    • Air Conditioners
    • Refrigerators
    • Washing Machines
    • Dishwashing Machines
    • Freezers
    • Ovens
    • Others
  • Small Appliances
    • Vacuum Cleaners
    • Grills and Roasters
    • Food Processors
    • Air Purifier
    • Water Purifier
    • Others

 

Market Breakup by Price Range

  • Economy
  • Mid-Economy
  • Premium

 

Market Breakup by Distribution Channels

  • Supermarkets and Hypermarkets
  • Specialty Stores
  • Online
  • Others

 

Market Breakup by Region

  • North India
  • East and Central India
  • West India
  • South India

 

India Home Appliances Market Share

Refrigerators are high in demand due to the need to keep food fresh and beverages cool in tropical climate

The tropical climate across numerous regions of the country results in a greater need for refrigeration to extend the shelf life of perishable foods and keep beverages cool, thereby increasing the demand for refrigerators. The rising disposable income of consumers and the availability of the energy efficient and smart refrigerators is boosting the purchase of refrigerators.

 

As per India home appliances market analysis, the air conditioners segment, based on major appliances, has witnessed notable growth, driven by factors such as rising levels of heat or temperature, increasing urbanisation, rising disposable incomes, and the need for comfortable living environments. The production of air conditioners in India has been on the rise, with significant year-on-year increases in unit production.

 

Supermarkets and hypermarkets hold a significant market share as they facilitate proper inspection of home appliances and better decision-making

Supermarkets and hypermarkets like Big Bazaar, Reliance Retail, and Metro Cash & Carry hold a large India home appliances market share as they carry wide range of home appliances under one roof. Easy availability and the benefit of checking out the appliance properly before purchasing is a major factor enhancing the growth of supermarkets and hypermarkets. They often have a strong presence in urban areas and are known for their competitive pricing.

 

Online retail channels like Amazon, Flipkart, and Paytm Mall have gained significant traction in India, offering consumers a wider selection of products and the convenience of shopping from anywhere. Consumers in even the remotest parts of the country can access a wide array of products, including premium and high-end home appliances like kitchen appliances from brands like Philips and Bajaj. These channels are popular as they often introduce attractive deals, discounts, and festive sales.

 

Specialty stores like Croma, Vijay Sales, and Reliance Digital are a significant segment in the India home appliances market, offering a curated selection of products from various brands. These outlets are known for their expertise in product knowledge and after-sales service, which can be particularly important for consumers investing in expensive appliances.

 

India Home Appliances Market

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Leading Companies in Home Appliances Market in India

Market players are introducing innovative features, enhancing product offerings, and expanding their presence in tier-2 cities to tap into the growing demand for smart home appliances

 

Samsung Electronics Co. Ltd. is a machinery and equipment manufacturing company that was founded in 1995, as a division of the global Samsung brand. The company is headquartered in Gurugram, Haryana and is known for providing technological and electrical devices.

 

Whirlpool Corporation was founded in 1960 and has its headquarters located in Gurugram, Haryana. It is an appliance manufacturing company that provides its customers with a wide range of kitchen appliances and smart electronic products for their household.

 

LG Electronics Inc., founded in 1958, has its headquarters in Seoul, South Korea. The company offers consumer electronics, home appliances, mobile devices, and vehicle components. The company consistently introduces cutting-edge technologies and solutions to meet the evolving needs of consumers worldwide.

 

Voltas Limited, incorporated in 1954, is headquartered in Mumbai, India. Specialising in air conditioning, refrigeration, engineering solutions, and consumer durables, Voltas Limited offers a wide array of products and services.

 

Other key players in the India home appliances market include Koninklijke Philips N.V., Electrolux AB, Hitachi Ltd., Panasonic Holdings Corporation, Robert Bosch GmBH, Haier Group Corporation, and Havells India Limited, among others.

 

India Home Appliances Market Analysis by Region

North India is the prominent user of home appliances due to increased discretionary income of consumers

The Northern India dominates the market share due to the region's large population, changing lifestyles, and increasing disposable incomes. As more people migrate to urban centers in the North, the adoption of time-saving and convenient appliances like refrigerators, washing machines, and air conditioners has increased. Meanwhile, the presence of major manufacturing hubs and the availability of a skilled workforce in South region have contributed to the India home appliances market growth.

 

Meanwhile, consumers in the West region are particularly interested in products that offer enhanced features, connectivity, and smart capabilities, such as Wi-Fi-enabled refrigerators and voice-controlled air conditioners. The expansion of distribution networks has further strengthened the home appliances market in the West.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Price Range
  • Distribution Channels
  • Region
Breakup by Type
  • Major Appliances
  • Small Appliances
Breakup by Price Range
  • Economy
  • Mid-Economy
  • Premium
Breakup by Distribution Channels
  • Supermarkets and Hypermarkets
  • Specialty Stores
  • Online
  • Others
Breakup by Region
  • North India
  • East and Central India
  • West India
  • South India
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Samsung Electronics Co. Ltd.
  • LG Electronics Inc.
  • Whirlpool Corporation
  • Electrolux AB
  • Hitachi, Ltd.
  • Panasonic Holdings Corporation
  • Havells India Limited
  • Voltas Limited
  • Haier Group Corporation
  • Robert Bosch GmbH
  • Koninklijke Philips N.V.
  • Others

 

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India Home Appliances Market Report Snapshots

India Home Appliances Market Size

India Home Appliances Market Share

India Home Appliances Market Growth

India Home Appliances Market Trends

India Home Appliances Market Regional Analysis

India Home Appliances Companies

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface  
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers    
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
7    Opportunities and Challenges in the Market
8    Asia Pacific Home Appliances Market Overview

    8.1    Key Industry Highlights
    8.2    Asia Pacific Home Appliances Historical Market (2018-2023) 
    8.3    Asia Pacific Home Appliances Market Forecast (2024-2032)
9    India Home Appliances Market Overview
    9.1    Key Industry Highlights
    9.2    India Home Appliances Historical Market (2018-2023) 
    9.3    India Home Appliances Market Forecast (2024-2032)
10    India Home Appliances Market by Type
    10.1    Major Appliances
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
        10.1.3    Breakup by Type 
            10.1.3.1    Air Conditioners
            10.1.3.2    Refrigerators
            10.1.3.3    Washing Machines
            10.1.3.4    Dishwashing Machines
            10.1.3.5    Freezers
            10.1.3.6    Ovens
            10.1.3.7    Others
    10.2    Small Appliances
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
        10.2.3    Breakup by Type 
            10.2.3.1    Vacuum Cleaners
            10.2.3.2    Grills and Roasters
            10.2.3.3    Food Processors
            10.2.3.4    Air Purifier
            10.2.3.5    Water Purifier
            10.2.3.6    Others
11    India Home Appliances Market by Price Range
    11.1    Economy
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Mid-Economy
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    Premium 
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
12    India Home Appliances Market by Distribution Channel
    12.1    Supermarkets and Hypermarkets
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Specialty Stores
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Online
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    India Home Appliances Market by Region
    13.1    North India
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
        13.1.3    Breakup by Type
        13.1.4    Breakup by Price Range
        13.1.5    Breakup by Distribution Channel
    13.2    East and Central India
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
        13.2.3    Breakup by Type
        13.2.4    Breakup by Price Range
        13.2.5    Breakup by Distribution Channel
    13.3    West India
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
        13.3.3    Breakup by Type
        13.3.4    Breakup by Price Range
        13.3.5    Breakup by Distribution Channel
    13.4    South India
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
        13.4.3    Breakup by Type
        13.4.4    Breakup by Price Range
        13.4.5    Breakup by Distribution Channel
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Trade Data Analysis (HS Code – 8509, 8450, 841821, 841822, 841829)
    15.1    Major Exporting Countries 
        15.1.1    By Value
        15.1.2    By Volume
    15.2    Major Importing Countries 
        15.2.1    By Value
        15.2.2    By Volume
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Samsung Electronics Co. Ltd.
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    LG Electronics Inc.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Whirlpool Corporation
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Electrolux AB
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Hitachi, Ltd.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Panasonic Holdings Corporation
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Havells India Limited 
            16.2.7.1    Company Overview
            16.2.7.2    Product Portfolio
            16.2.7.3    Demographic Reach and Achievements
            16.2.7.4    Certifications
        16.2.8    Voltas Limited  
            16.2.8.1    Company Overview
            16.2.8.2    Product Portfolio
            16.2.8.3    Demographic Reach and Achievements
            16.2.8.4    Certifications
        16.2.9    Haier Group Corporation
            16.2.9.1    Company Overview
            16.2.9.2    Product Portfolio
            16.2.9.3    Demographic Reach and Achievements
            16.2.9.4    Certifications
        16.2.10    Robert Bosch GmbH
            16.2.10.1    Company Overview
            16.2.10.2    Product Portfolio
            16.2.10.3    Demographic Reach and Achievements
            16.2.10.4    Certifications
        16.2.11    Koninklijke Philips N.V.    
            16.2.11.1    Company Overview
            16.2.11.2    Product Portfolio
            16.2.11.3    Demographic Reach and Achievements
            16.2.11.4    Certifications
        16.2.12    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Asia Pacific Home Appliances Market: Key Industry Highlights, 2018 and 2032
2.    India Home Appliances Market: Key Industry Highlights, 2018 and 2032
3.    India Home Appliances Historical Market: Breakup by Type (USD Billion), 2018-2023
4.    India Home Appliances Market Forecast: Breakup by Type (USD Billion), 2024-2032
5.    India Home Appliances Historical Market: Breakup by Price Range (USD Billion), 2018-2023
6.    India Home Appliances Market Forecast: Breakup by Price Range (USD Billion), 2024-2032
7.    India Home Appliances Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
8.    India Home Appliances Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
9.    India Home Appliances Historical Market: Breakup by Region (USD Billion), 2018-2023
10.    India Home Appliances Market Forecast: Breakup by Region (USD Billion), 2024-2032
11.    Major Exporting Countries by Value
12.    Major Importing Countries by Value
13.    Major Exporting Countries by Volume
14.    Major Importing Countries by Volume
15.    India Home Appliances Market Structure

Key Questions Answered in the Report

In 2023, the India home appliances market reached a value of approximately USD 77.74 billion in 2023.

The market is expected to grow at a CAGR of 5.70% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 127.07 billion by 2032.

Rising disposable income, increasing availability of home appliances, and growing population are the major market drivers.

Key trends aiding market expansion include the rising standards of living, increasing connectivity in rural areas, and growing urbanisation.

Regions considered in the market are East and Central India, West India, South India, and North India.

Based on type, the market is segmented into major appliances and small appliances.

Home appliances are devices that aid in completion of various household activities such as cleaning, cooking, and storing food, among others, in an efficient and time saving manner.

Key players in the market are Samsung Electronics Co. Ltd., Whirlpool Corporation, LG Electronics Inc., Voltas Limited, Koninklijke Philips N.V., Electrolux AB, Hitachi Ltd., Panasonic Holdings Corporation, Robert Bosch GmBH, Haier Group Corporation, and Havells India Limited, among others.

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