India Small Home Appliances Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

India Small Home Appliances Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Demand for home appliances on rise amid Covid-19, premium products driving revenues. As people are spending more time at home in the Covid world, home appliances are increasingly making their way to shopping carts. While the industry witnessed a slight turbulence owing to the lockdowns, the overall consumer sentiment has been positive and the outlook, optimistic.

India’s appliances and consumer electronics market size is expected to grow steadily in the upcoming years. The small home appliances are expected to the growth in the market due to ongoing urbanization, expanding the middle class, and growing demand for convenience in the midst of hectic urban lifestyle.

The rise in the number of nuclear families and a sedentary lifestyle with space constraints in the household will further aggravate the demand for small home appliances which can accompany the daily tasks in less time. Semi-urban and rural areas are also expected to contribute to the demand owing to the growing awareness regarding small ticket appliances in those areas.

Technological advancements and rising user access to the internet are expected to contribute positively to the redevelopment of the small home appliances in the market. Small Kitchen appliances have high growth potential for new products such as blenders, mixers, coffee machines in the market. The rise in smart homes along with new connected appliances are expected to boost the demand in the future by offering new appliances that would be easily used by the consumer and reduce their tasks at home. The smart home appliances would allow autonomy, control, monitiring and other advanteges.

Rising awareness about personal grooming is further adding its value. The changes in lifestyles due to hectic work schedules are also leading to product demand. Asia- Pacific salons, and India specifically are investing in salon chains to increase their customer base as the country is one of the high population. Thus the rising number of hair salons along with urbanization and the young population in the country is anticipated to contribute to the growth of the hairdryers market in India.

Cost-efficient technology, reliability, and eco-friendly technology are driving the demand for water heaters in the country. Water heaters are gaining popularity due to low-cost running making its adoption feasible. Also, the availability of piped water facilities and rising infrastructure is making water heaters more accessible in rural areas and is forecasted to drive demand in upcoming years. This will drive the positive organized players in the market.

The water heater comes in storage-type and tankless water heaters designs in the market. Polymer-based storage tanks are also gaining traction in the market as it has a high resistance to corrosion. With consumers moving toward adopting tankless and high-efficiency water heater technology, the manufacturers are focusing on redesigning their products to maintain their position in the water heaters market.

Small Home appliances market in India is fragmented with several local and global players existing in the market. Cost-pricing and innovation strategies are adopted by manufacturers in the market. To make customers' life convenient and comfortable manufacturers are making products that are integrated with IoT. Investments in R&D to cater to the rising demand of the technology-savvy consumers in the market is on the rise, manufacturers are making efforts to offer the best technological solutions to them.

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