India Refrigeration Appliances Market Analysis for 2022-2028

Triton Market Research presents the India Refrigeration Appliances Market report segmented by Distribution Channel (E-commerce, Home and Garden Specialist Retailers, Electronics and Appliance Specialists, Other Distribution Channels) and by Category (Fridges, Fridge Freezers), discussing Market Summary (Definition, Size & Forecast, Driving Aspects, Restraining Aspects), Industry Outlook (Impact of COVID-19, Brand Share Analysis, Market Share Analysis, PESTLE Analysis, Key Buying Criteria, Value Chain Analysis), Competitive Landscape, Research Methodology & Scope, and Market Analysis (2022-2028).

Triton Market Research, in its report on the India Refrigeration Appliances Market, has stated that the market is likely to evolve at a CAGR of 6.52% (by revenue) over the forecasting duration from 2022 to 2028. Also, as per category, the market is expected to grow at a CAGR of 2.25% (by volume) in this period.

Manufacturers across the country have developed and launched technologically advanced and innovative refrigeration appliances. For example, the Godrej Eon Valor and Godrej Eon Alpha refrigerators by Godrej offer up to 60% higher preservation. This is a key factor expected to contribute to the growth of the refrigeration appliances market in India.

However, the high cost of refrigeration appliances is one of the major factors expected to hinder the growth of the refrigeration appliances market in India during the forecast period.

The growing disposable income has increased consumer desire to spend on expensive refrigeration equipment. Additionally, the number of people using mobile internet is expected to surge further, supporting the use of appliances that can be linked with mobile app functionality. These factors are expected to strengthen the demand for connected refrigeration appliances in India, which, in turn, is likely to positively impact the country’s market growth over the forecasted period.

LG Corporation, Samsung Electronics Co Ltd, Haier Group Corporation, Whirlpool Corporation, and Panasonic Corporation are some of the notable players in this market.

With Samsung Electronics Co Ltd and LG Corporation jointly accounting for around 50% of the volume sales, the market in the country is highly competitive. Both these top players are focused on introducing premium appliances in India and have a strong presence across all categories. Whereas, the shares of all other market players are significantly lower.