The Indian refrigerator market is anticipated to grow with a lucrative CAGR of 8.4% during the forecast period (2020-2026). The growth of the market in India is expected to be majorly fueled by the rising working population coupled with an increase in disposable incomes. Additionally, the huge untapped market with low penetration of refrigerators across the country will also provide new growth opportunities for the refrigerator companies. According to the India Brand Equity Foundation (IBEF), only around 29% of households in India own a refrigerator. In addition to this, the evolving rural areas are also anticipated to provide significant potential for the expansion of the refrigerator market across the country.
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Furthermore, the presence of global refrigerator companies will also cater to the growth of the market. The global companies are also expanding their market reach in the region with the launch of new technologically advanced products that are designed specifically considering the Indian demographics and requirements. It is expected to increase the average price of refrigerators in the country. For instance, in September 2020, Whirlpool Corp. a globally recognized brand of refrigerator launched a new range of bottom-mounted range of refrigerators in a capacity ranging between 325L and 355L in Omega Steel and Steel Onyx finish in the Indian market. The refrigerators come with several features such as adaptive intelligence technology, 3D airflow technology, and IntelliSense Inverter technology that are aimed at catering to the requirements of individual households.
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Market Coverage
· The market number available for – 2019-2026
· Base year- 2019
· Forecast period- 2020-2026
· Segment Covered-
· By Product Type
· By Application
· By Distribution Channel
· Competitive Landscape- Electrolux AB, General Electric Co., Haier Group Corp., Robert Bosch GmbH, Whirlpool Corp.
India Refrigerator Market Report Segment
By Product Type
· Single Door
· Double Door
· Side by Side Door
· French Door
· Other
By Application
· Residential
· Commercial
By Distribution Channel
· Online Channel
· Offline Channel
Company Profiles
- Electrolux AB
- Godrej & Boyce Manufacturing Co. Ltd.
- Haier Group Corp.
- Hitachi, Ltd.
- LG Electronics Inc.
- Liebherr-International Deutschland GmbH
- Mitsubishi Electric Corp.
- Panasonic Corp.
- Robert Bosch GmbH
- Samsung Electronics Co., Ltd.
- Videocon Industries Ltd.
- Voltas Ltd.
- Whirlpool Corp.
- Xiaomi Corp.
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