India Household Appliances Market Outlook

The indian household appliances market is expected to grow at a significant rate in the forecast period of 2018 to 2032. the increasing per capita income of the population, increasing purchasing power and rising urbanization are the factors driving the growth of the market. the indian household appliances market is divided into product type such as washing machines, refrigerators, air-conditioners and mixers/juicers/grinders. washing machines constitute the largest share in the market and are expected to register a highest cagr due to the increasing specifications and features offered, technological advancements in the products and increasing demand from rural population. refrigerators are expected to be the second largest contributor to the market in 2018 and are expected to be driven by increasing demand for energy-efficient appliances and growing demand for customization in terms of color, capacity and design. the manufacturers in india are emphasizing on launching value-added products as the customers are tending to migrate towards technologically-advanced products and designing appliances that are compact and stylish. additionally, the availability of huge distribution network due to the growing modern retail formats such as supermarkets, hypermarkets, and convenience stores are increasing the penetration rate of the sales in both urban and rural areas. price sensitivity is the major issue in the market. the organized sector has high capital outlays that leads to higher prices. many players in the market are providing discounts and offers on the products in order to capture high market share and gain consumer loyalty. e-commerce is also playing a major role in the growth of the market. the government of india is taking initiatives such as fame (faster adoption and manufacturing of hybrid and electric vehicle) scheme to reduce the pollution caused by the use of household appliances and to promote green technology. this is expected to accelerate the market growth in the forecast period. overall, the increasing household incomes and technological advancements are the key driving force for the indian household appliances market in the forecast period from 2018 to 2032. the various strategic initiatives taken by the government to promote green technology will further drive the market growth.