INDIA REFRIGERATION APPLIANCES MARKET 2022-2028

Consumer Goods & Services | Consumer Electronics

INDIA REFRIGERATION APPLIANCES MARKET 2022-2028

Market by Category and Distribution Channel | Forecast 2022-2028

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The India refrigeration appliances market is expected to grow at a CAGR of 6.52% (in terms of revenue) over the forecast period 2022-2028. It was valued at $3540.57 million in 2021 and is expected to rise to a revenue of about $5601.69 million by 2028.

In terms of volume, the India refrigeration appliances market by category is anticipated to rise with a CAGR of 2.25% during the forecast period 2022-2028. The market totaled 12641.20 thousand units in 2021 and is expected to reach 14794.40 thousand units by 2028.

Refrigeration appliances refer to cooling systems or equipment used for freezing or chilling, usually for preservation. They are largely used to store food as it stays fresher for a long time in cold temperatures. The major aim of refrigeration is to limit the activity of germs present in the food that need to be controlled in order to prevent spoilage.

Some of the key factors driving the India refrigeration appliances market include connected refrigeration appliances paving the way for premiumization, the move towards omnichannel retailing, and the development & launch of new products. Connected refrigeration appliances allow real-time access to the contents of the refrigerator. Some even offer the option to view the expiration dates of each food item so the users can remember to consume them before expiry and avoid having to buy them again. There has been a significant demand for connected refrigeration appliances in the country, which is expected to contribute to the growth of the refrigeration appliances market in India during the forecast period.

The sales of connected appliances in the country are still in their nascent stage because the majority of these gadgets are costly, available from a few companies, and reliant on network access infrastructure. However, things are starting to change. Refrigeration equipment with Wi-Fi connectivity and mobile application control are being introduced by more companies. Brands like Panasonic, Samsung, LG, and Haier have extended their range of such refrigerators since 2021. Hence, this is expected to supplement the market growth during the forecast period.

However, the costs of refrigeration appliances are increasing, which is likely to hamper the market growth over the forecast years. The consumer electronics and appliances industry in India is heavily dependent on imports of essential components. The Consumer Electronics and Appliances Manufacturers Association (CEAMA) claims that the industry is experiencing additional issues as a result of the Indian rupee’s decline in value relative to the US dollar.

And this has caused manufacturers additional problems by raising the prices of imported components. The prices of consumer electronics and home appliances, including refrigerators, are thus expected to increase, as manufacturers try to recover the higher input costs from consumers. This may hamper the market growth during the forecast period.

Triton Market Research’s report provides in-depth insight into India’s refrigeration appliances market, along with segmentation analysis. The detailed analysis of the market includes PESTLE analysis, competitive landscape, key buying criteria, market share analysis, brand share analysis, and value chain analysis. The segmentation analysis of the India refrigeration appliances market includes the market by category and distribution channel.

The key players in the Indian refrigeration appliances market are Samsung Electronics Co. Ltd, LG Corporation, Whirlpool Corporation, Haier Group Corporation, and Panasonic Corporation.

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Table of Content

1. INDIA REFRIGERATION APPLIANCES MARKET – SUMMARY

1.1. MARKET DEFINITION

1.2. MARKET SIZE & FORECASTS

1.3. MARKET DRIVING ASPECTS

1.4. MARKET RESTRAINING ASPECTS

1.5. KEY PLAYERS

2. INDIA REFRIGERATION APPLIANCES INDUSTRY OUTLOOK

2.1. IMPACT OF COVID-19 ON THE INDIA REFRIGERATION APPLIANCES MARKET

2.2. MARKET SHARE ANALYSIS

2.3. BRAND SHARE ANALYSIS

2.4. PESTLE ANALYSIS

2.5. KEY BUYING CRITERIA

2.6. VALUE CHAIN ANALYSIS FOR THE REFRIGERATION APPLIANCES MARKET

3. INDIA REFRIGERATION APPLIANCES MARKET – BY CATEGORY (VALUE IN $ MILLION & VOLUME IN THOUSAND UNITS)

3.1. FRIDGE FREEZERS

3.2. FRIDGES

4. INDIA REFRIGERATION APPLIANCES MARKET – BY DISTRIBUTION CHANNEL (VALUE IN $ MILLION)

4.1. ELECTRONICS AND APPLIANCE SPECIALISTS

4.2. E-COMMERCE

4.3. HOME AND GARDEN SPECIALIST RETAILERS

4.4. OTHER DISTRIBUTION CHANNELS

5. COMPETITIVE LANDSCAPE

5.1. SAMSUNG ELECTRONICS CO. LTD

5.2. LG CORPORATION

5.3. WHIRLPOOL CORPORATION

5.4. HAIER GROUP CORPORATION

5.5. PANASONIC CORPORATION

6. METHODOLOGY & SCOPE

6.1. RESEARCH SCOPE & DELIVERABLES

6.2. SOURCES OF DATA

6.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1: INDIA REFRIGERATION APPLIANCES MARKET 2022-2028 (IN $ MILLION)

TABLE 2: REFRIGERATION APPLIANCES MARKET, MARKET SHARE ANALYSIS, 2020 & 2021 (IN %)

TABLE 3: INDIA – COUNTRY SNAPSHOT

TABLE 4: INDIA REFRIGERATION APPLIANCES MARKET, BY CATEGORY, 2022-2028 (IN $ MILLION)

TABLE 5: INDIA REFRIGERATION APPLIANCES MARKET, BY CATEGORY, 2022-2028 (IN THOUSAND UNITS)

TABLE 6: INDIA REFRIGERATION APPLIANCES MARKET, BY DISTRIBUTION CHANNEL, 2022-2028 (IN $ MILLION)

List of Figures

FIGURE 1: REFRIGERATION APPLIANCES MARKET, BRAND SHARE ANALYSIS, 2020 & 2021 (IN %)

FIGURE 2: KEY BUYING CRITERIA

FIGURE 3: VALUE CHAIN ANALYSIS FOR THE REFRIGERATION APPLIANCES MARKET

FIGURE 4: INDIA REFRIGERATION APPLIANCES MARKET, BY CATEGORY, 2021 & 2028 (IN %)

FIGURE 5: INDIA REFRIGERATION APPLIANCES MARKET, BY FRIDGE FREEZERS, 2022-2028 (IN $ MILLION)

FIGURE 6: INDIA REFRIGERATION APPLIANCES MARKET, BY FRIDGE FREEZERS, 2022-2028 (IN THOUSAND UNITS)

FIGURE 7: INDIA REFRIGERATION APPLIANCES MARKET, BY FRIDGES, 2022-2028 (IN $ MILLION)

FIGURE 8: INDIA REFRIGERATION APPLIANCES MARKET, BY FRIDGES, 2022-2028 (IN THOUSAND UNITS)

FIGURE 9: INDIA REFRIGERATION APPLIANCES MARKET, BY DISTRIBUTION CHANNEL, 2021 & 2028 (IN %)

FIGURE 10: INDIA REFRIGERATION APPLIANCES MARKET, BY ELECTRONICS AND APPLIANCE SPECIALISTS, 2022-2028 (IN $ MILLION)

FIGURE 11: INDIA REFRIGERATION APPLIANCES MARKET, BY E-COMMERCE, 2022-2028 (IN $ MILLION)

FIGURE 12: INDIA REFRIGERATION APPLIANCES MARKET, BY HOME AND GARDEN SPECIALIST RETAILERS, 2022-2028 (IN $ MILLION)

FIGURE 13: INDIA REFRIGERATION APPLIANCES MARKET, BY OTHER DISTRIBUTION CHANNELS, 2022-2028 (IN $ MILLION)

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