India Large Appliances Market Segmentation by Product Categories on the Basis of Sales Volume in Thousand Units : Ken Research
The sector has been witnessing significant growth in recent years, supported by several drivers such as the emerging retail boom, real estate and housing demand, greater disposable income and an overall increase in the level of affluence of a significant section of the population. The industry is represented by major international and local players such as BPL, Videocon, Voltas, Blue Star, MIRC Electronics, Titan, Whirlpool and several others.
According to Ken Research ,The Market for large appliances was evaluated at USD ~ million during 2015, grown at a CAGR of ~% during 2010-2015. Television has been the leading segment which has contributed around ~% share in sales value. This was followed by Washing Machines, Air Conditioners and refrigerators respectively. In terms of sales volume, ~ million units were sold during 2015 (combined together refrigerator, air conditioners, washing machines and television). The biggest attraction for MNCs is the growing Indian middle class.
What Have Been The Major Segments That Has Driven Change
Television has accounted for the ~ revenues in India large appliances market with a share reported at during 2015. Over the years 2010-2015, the share has increased since 2010 where it was evaluated at ~%. Surge in personal disposable incomes, launch of smart TVs with advanced technologies and surge in nuclear families has supported the demand.
Consumers are switching to flat panel televisions, which have led to phasing out of CRT (cathode ray tube) TV sets from the market. During 2011, ~ million CRT TVs were sold, while in 2014 the combined sale for LCD and LED TVs was around ~ million.
During 2015, the total sales volume for TV was witnessed at ~ million units which have reduced from ~ million units in 2011.
Washing machines market has been the second largest revenues contributor to the market during 2015. This category has contributed ~`% share to the revenues which has increased from 2010, where the share was positioned at ~%
The washing machines market in India has increased at a CAGR of ~% during 2010-2015. 70% of the washing machines sales in India belong to semi automatic range ,According to Ken Research.
Which Large Appliances Are Majorly Preferred By Indians?
Traditional bulky televisions have posted a rapid decline in sales volume. LG, Samsung and newly emerging players are only focusing on LCD/LED TV segment, but a handful of domestic manufacturers led by Videocon and Salora are still betting on CRT, or cathode ray tube, models due to strong demand in rural and semi urban markets.
Price gap used to be around INR 5,000-6,000 on a similar screen size for CRT compared to LCD/LED TV, which has kept some part of demand to originate for CRT TVs
It has been observed that the LED televisions with screen sizes above 40 inches have recorded a remarkable growth over the period 2011-2014. Although the customer base for bigger screen sizes is small but the growth has been rapid in the segment in terms of sales volume. The most popular LED television screen size is 32 inches which accounted for nearly ~% of the total LED television sales in 2014
Topics Covered in the Report
- India Air Conditioner Market
- India Washing Machine Industry
- India Refrigerator Market Size
- India Air Conditioner Sales
- Refrigerator Market Competition
- Television Sales Household India
- Residential AC Market in India
- India Online Electronics Sales
- Household Appliances Market in India
- Market Share Daikin Air Conditioner
- LG Sales Television market
For more information about the publication, refer to the link below:
India LED Television Market Outlook to 2018 – Rising Price Competition with New Players Entry
China Large Appliances Market Outlook to 2020 – Rising Preference for Smart Technology Appliances and Replacement Demand to Drive Market
Japan Large Appliances Market Outlook to 2020 – Growing Preferences for Technologically Innovated Products and Robust Replacement Demand to Shape Future
Ankur Gupta, Head Marketing & Communications
This post first appeared on Market Research Reports, Top 10 Market Research Co, please read the originial post: here