India Refrigeration Appliances Market 2022-2028
MARKET OUTLOOK
The refrigeration appliances market in India is expected to grow at a CAGR of 6.52% (by revenue) over the forecast years 2022-2028. Also, the market (in terms of category) is expected to grow at a CAGR of 2.25% (by volume), in this period.
There has been a significant shift towards omnichannel retailing in India. Also, a number of players are focusing on ensuring omnichannel distribution in a bid to promote harmony between online & offline channels. For instance, Croma is striving to make refrigerator prices online and in-store, comparable. Such developments are likely to drive the growth of the refrigeration appliances market in the country during the forecast period.
Further, with the advancements in technology, an increasing number of stores, such as Croma and Reliance Digital, are offering the latest gadgets and electronic products to customers. Such electronics and appliance stores offer an extended warranty, device accessories, expert advice, etc. Electronics and appliance specialists leads the distribution channel segment in the market, accounting for the highest revenue share in 2021.
COMPETITIVE OUTLOOK
Some of the key companies operating in the Indian refrigeration appliances market are Panasonic Corporation, Haier Group Corporation, Whirlpool Corporation, LG Corporation, and Samsung Electronics Co. Ltd.
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