India Refrigerator Market Overview, 2022-28

India Refrigerator Market Overview, 2022-28

India Refrigerator Market Overview, 2022-28’ gives a comprehensive analysis on the refrigerator industry in India. Consumer durable industry is one that is passing through a very interesting stage in India. Home appliances and consumer electronics sector has witnessed a substantial growth since the process of liberalization began. The sector has become an important part of the India economy and played a vital role in providing employment to millions of people and also improving the quality of life of people in the country. Refrigerator is not a new category in India but still its market is increasing with high growth rates because of low penetration and huge consumer base. Initially, refrigerator was regarded as a luxury item but increased temperature and rise in disposable income has now made it a mandatory item in any home. Other factors fuelling double digit growth of refrigerators in India are rise in number of nuclear families, easy availability of credit, evolving lifestyle, introduction of new models, technology advancement and increasing consumer awareness.

According to 'India Refrigerator Market Overview, 2022-28’, refrigerator sales grew with more than 8% of CAGR for 2016-2021 and is expected to witness prominent market growth during the forecast period. India refrigerators market is categorized into two product types' i.e. direct cool refrigerator and frost free refrigerator. Frost free refrigerator does not require manual defrosting and on the contrary in direct cool refrigerator manual defrosting is needed. Direct cool refrigerators dominate in the Indian market whereas frost free refrigerators are fast becoming popular among urban households. LG, Samsung, Videocon, Whirlpool, Godrej, Panasonic and Hitachi are the major players operating in the Indian refrigerator industry. Previously Godrej and Videocon were large players in the industry but with the passage of time and technology, they lost their place due to entry of many international giants. At present, LG and Samsung are the top two players in the market. They provide latest technology refrigerators with different models, capacities, colour and designs.

Low household penetration of refrigerator in India will provide ample opportunities for companies to expand their reach. Expansion of modern retail and exclusive company outlets across regions is expected to spur the volume growth. Refrigerators, especially direct cool, are expected to post strong growth in non-metro cities & rural areas. Direct cool refrigerators are mostly demanded by rural area consumers and middle income group whereas frost free refrigerators are a choice of higher income group people living in urban areas. LG is major player in direct cool segment whereas Samsung is a key player in frost free category. Region wise, the market is divided into south, north, west and east.

“India Refrigerator Market Overview, 2022-28' examines the following aspects of refrigerator in India:
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The report gives an in-depth understanding of the refrigerator market in India:
• India Refrigerator Market Outlook
• India Refrigerator Market Size By Value & Forecast
• India Refrigerator Market Size By Volume & Forecast
• India Refrigerator Market Segmental Analysis: By Company, By Product Type, By Target Demographics, By Region, By Sales Channel
• India Direct Cool Refrigerator Market Size By Value & Forecast
• India Direct Cool Refrigerator Market Size By Volume & Forecast
• India Direct Cool Refrigerator Market Segmental Analysis: By Company
• India Frost Free Refrigerator Market Size By Value & Forecast
• India Frost Free Refrigerator Market Size By Volume & Forecast
• India Frost Free Refrigerator Market Segmental Analysis: By Company
• The key vendors in this market space

This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Report Methodology
The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various channel partners of refrigerator in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.