India Refrigerator Market with Top of Industry Trends 2018-2028Posted by TechSci Research on June 19th, 2023 Improving living standards with rising disposable income will fuel the Indian refrigerator market through 2028F. According to TechSci Research report, “India Refrigerator Market – Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F” The Indian refrigerator market is forecast to grow at an impressive CAGR of around 11.62% in the forecast period due to rapidly surging demand from the consumer durables industry. In India, the market's growth is stimulated by the rising urbanization, the rising disposable income of consumers, and the technological advancements contributing to increased convenience at low prices. The demand for refrigerators in the projected period is likely to register sustainable growth due to the increasing working population and preference for modernity in living standards. Over the years, refrigerators have been widely used across households and commercial places to provide a convenient and safe means of food preservation. They are available based on their features, size, and applications. With rising awareness among customers, they seek "value options" that balance the characteristics of price, quality, convenience, consistency, and innovation. The demand for refrigerators is expected to increase in the forecast years. Furthermore, refrigerator companies are now in India focusing on innovative products to attract end-users. Nowadays, refrigerators are coming up with eco-friendly refrigerators that do not release harmful compounds. The sector's rise has been fueled by new technology such as door configuration, convertible, edge-to-edge shelves, smart inverter technology, auto smart connect, Wi-Fi connectivity, etc. The India refrigerator market is segmented into single-door, top freezer, bottom freezer, side-by-side, and french door in terms of type. The single-door product type has dominated the market, with a market share of more than 50% in 2022. It will maintain its dominance during the forecast period, but the market share will decline as consumers shift towards refrigerators with additional features and higher storage space. However, refrigerators such as top-freezers, side-by-side, etc., are the fastest growing because consumer preferences have shifted toward modernity instead of the traditional one. https://www.techsciresearch.com/report/india-refrigerator-market/10606.html The India Refrigerator market is segmented based on the type, technology, distribution channel, end user and region. In terms of technology, the India refrigerator market is segmented into smart vs non-smart. The distribution channel segment is divided into multi-branded stores, supermarkets/hypermarkets, exclusive stores, online, and others (direct sales, wholesales etc.). Among which, the multi-branded stores have dominated the India refrigerator market, but online channels have gained popularity after the COVID-19 pandemic. Key market players in the India refrigerator market include:
Download Sample Report@ https://www.techsciresearch.com/sample-report.aspx?cid=10606 Customers can also request for 10% free customization on this report. LG Electronics India Pvt. Ltd. is one of the top leading companies and is an owned subsidiary of the South Korean-based company LG Electronics, established in January 1997 in India. It is the most trusted brand for Indian customers in consumer electronics, home appliances, etc. It engages clients to intensify their actual limits and value life by empowering them to be more liberated through its innovative and convenient technology. “Demand for refrigerators in India is growing steadily due to improving living standards. Rising disposable income, urbanization in India, and technological advancements increase convenience at low prices. Additionally, market leaders are constantly advancing the technology of their products to meet the growing demand expected to drive the Indian refrigerator market over the next few years. Additionally, Indian customers prefer to buy only after touching or trying on a product for home appliances. These customers find their products immediately in the stores. Also, they can access after-sale customer service by only contacting the seller if they ever need it, which will positively impact the Indian refrigerator market during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. Related Reports: Baby Carrier Market Triathlon Clothing Market Saudi Arabia E-Retail Market Saudi Arabia Fruit Concentrate Market Europe Skin Care Market Europe Hair Care Market Contact Like it? Share it!More by this author |