PartagerIndian domestic refrigerator market in 2012
The Indian domestic refrigerator market is expected to grow at a compound annual growth rate (CAGR) of 11% in the near future
According to Netscribes, the Indian domestic refrigerator market is currently valued at INR 97.69 billion (USD 1.8 billion) and is expected to grow at a compound annual growth rate (CAGR) of 11%, to reach INR 169 billion (over USD 3 billion) by 2014-2015.
It is one of the fastest growing segments in the consumer durable industry. Its significant growth is related to rising per-capita income and improved social indicators. The average income level is expected to triple by 2025. As a result, urban consumption expenditure is expected to rise 62% by 2025 (compared to 43% in 2006).
Increasing growth in the retail sector has also contributed to the Indian refrigerator market. Indian refrigerator manufacturers have opportunities to export products to Australia, Nigeria and Nepal, and imports in the sector (mainly from Thailand which supplies up to 50% of the refrigerators on the Indian market) are gradually decreasing owing to an expanding domestic production base.
For further information, please contact Sourav Mukherjee at Netscribes: info [at] netscribes.com
It is one of the fastest growing segments in the consumer durable industry. Its significant growth is related to rising per-capita income and improved social indicators. The average income level is expected to triple by 2025. As a result, urban consumption expenditure is expected to rise 62% by 2025 (compared to 43% in 2006).
Increasing growth in the retail sector has also contributed to the Indian refrigerator market. Indian refrigerator manufacturers have opportunities to export products to Australia, Nigeria and Nepal, and imports in the sector (mainly from Thailand which supplies up to 50% of the refrigerators on the Indian market) are gradually decreasing owing to an expanding domestic production base.
For further information, please contact Sourav Mukherjee at Netscribes: info [at] netscribes.com