The market for consumer durables in India

The foundation IBEF (India Brand Equity Foundation) recently published a report establishing that only 29% of households in India owned a refrigerator, and estimated that emerging rural areas have a great potential for appliances like refrigerators as the government plans to invest significantly in rural electrification. The segment of refrigerators makes up 27% of the consumer appliance market. The market share of direct cool and frost free segments is 75% and 25% respectively.
The estimated market size in value for refrigerators in India is estimated to be INR 195 billion (USD 3.02 billion) in 2017 and is expected to reach INR 344 billion (USD 5.34 billion) by 2022.

As for air-conditioners, the report shows that the penetration of this kind of products was low in the early 2000s (under 1%). It became superior to 3% in the late 2000s. The market size for air conditioning in India was estimated at INR 185 billion (USD 2.76 billion) in 2017 while the market for room air conditioners was estimated at around INR 120 billion (USD 1.79 billion). Air conditioners are perceived as high-end products and are expected to grow at 6.7% between 2014 and 2020.

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