ShareThe 2014 Indian domestic refrigeration market - 2014
The Indian domestic refrigerator market is currently valued at USD 1.76 billion (1.29 billion euros).
The Indian domestic refrigerator market is currently valued USD 1,76 billion (1, 29 billion euros).
The average income level is expected to triple by 2025. The urban consumption expenditure is expected to rise 65% by 2025.
The domestic refrigeration market in India is made up of importers, large multinational companies and domestic manufacturers. Some of the importers have manufacturing facilities in India, but import the refrigerators from their parent companies, rather than manufacture them indigenously. Some key players in this space include Sharp, Toshiba, Hitachi, and Siemens, who market the products through their own channel partners.
The multinational players include names such as LG, Whirlpool, Samsung and Haier, while domestic players include the likes of Godrej, Videocon and Electrolux. They have their own manufacturing facilities in India, and a well-established dealer network covering all India.
Rural market is growing faster than the urban market for refrigerators, although the penetration level in rural area is much lower. The entry of multinational players in the Indian refrigerator market has further given a new direction to the industry with new and innovative products to compete with the domestic refrigerator manufacturers. Double-income families and increasing consumer awareness are the main growth drivers of this industry.
Source : Bharat Book Bureau
The average income level is expected to triple by 2025. The urban consumption expenditure is expected to rise 65% by 2025.
The domestic refrigeration market in India is made up of importers, large multinational companies and domestic manufacturers. Some of the importers have manufacturing facilities in India, but import the refrigerators from their parent companies, rather than manufacture them indigenously. Some key players in this space include Sharp, Toshiba, Hitachi, and Siemens, who market the products through their own channel partners.
The multinational players include names such as LG, Whirlpool, Samsung and Haier, while domestic players include the likes of Godrej, Videocon and Electrolux. They have their own manufacturing facilities in India, and a well-established dealer network covering all India.
Rural market is growing faster than the urban market for refrigerators, although the penetration level in rural area is much lower. The entry of multinational players in the Indian refrigerator market has further given a new direction to the industry with new and innovative products to compete with the domestic refrigerator manufacturers. Double-income families and increasing consumer awareness are the main growth drivers of this industry.
Source : Bharat Book Bureau