HOME APPLIANCES INDUSTRY – SNAPSHOT

The home appliance segment in the Indian market has been grown significantly. Home appliances in India have been increasing at a steady rate, driven by both large appliances and small appliances.The sector has a huge opportunity and untapped market for appliances, like air conditioners (AC), washing machines, and fridges.

• In India the air conditioners have a penetration of around 4% as compared to the global average of 30%
• The growing economy and changing lifestyles of Indian consumers have led to the growth in the number of working professionals, nuclear families, single-person households, and the migrating of the job population
• This growth in India’s consumer market demand is influenced primarily by increasing disposable incomes in Indian households and easy access to credit, which promotes purchasing power
• Increasing the electrification of rural areas, along with the rise in the influence of social mass media and the popularity of online sales, is also a major factor in the growth
• The middle class in urban areas and aspirational demand from rural India, along with government reforms in the form of GST, are making the appliances industry look positively toward the next phase of exponential growth