Market by Category and Distribution Channel | Forecast 2022-2028
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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VIEW REPORT1. 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
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)
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)