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Growing Demand for Sensor Enabled Products and Increasing Product Affordability and Online Sales are driving the India Large Appliances Market: Ken Research

Posted on 01 December 2016 by KenResearch Consumer Products and Retail ,

Rise in Demand for Smart Appliances, Growing Preferences for Sensor Enabled Products and Product Affordability due to Easy Finance Availability has pushed the demand for large appliances in India.

The report titled “India Large Appliances Market Outlook to 2020 - Make in Initiatives to Reduce Imports and Growing Demand for Sensor Enabled Products to Drive Demand” provides brief overview on the India Large Appliances Market and helps readers to identify the ongoing trends in the market and anticipated growth in future depending upon changing market dynamics in coming years. The report will help existing distributors, manufacturers in large appliances space to align their market centric strategies according to ongoing and expected trends in the future.

Large appliances are basic household electrical appliances used in everyday life to have better living and working experience. These appliances include air conditioner, refrigerator, washing machine, and television. Rising urban population, increase in disposable income and supportive government policies are expected to drive the market in future. Large appliances are a very dynamic market and continuous innovation is required to make the products more economical and user friendly. Within the home appliance industry, sensors are playing a significant role to influence the way consumers interact with smart appliances such as washing machines, dishwashers and refrigerators. Temperature sensing and control are among the most important and well-established sensor functions in modern home appliances in India. The use of sensors in multiple applications, including smart power grids, smart buildings and smart industrial process control, helps enable a more efficient use of resources and a reduction in greenhouse gas emissions.

Advancement in technology and higher competition has led to price reduction across various consumer durable product segments such as air conditioners, washing machines, refrigerators and TVs. With the initiative of “Make in India” campaign, many domestic and Chinese manufactures are investing in India to set up their manufacturing plants which would produce more affordable products. With the reduction in prices, the companies have also introduced star rated, energy efficient ACs and refrigerators to arrange a new product line for the customers.

The sales for large appliances in India has expanded at a robust pace owing to easier finance availability, which has increased affordability by giving lucrative payment option. This has not only pushed the replacement demand for large appliances but also supported the growth in new demand. The products are even provided at 0% finance especially in festive seasons, to garner higher sales compared to other peers.

Furthermore, an electronics development fund of USD 2 billion has been created to promote innovation, intellectual property innovation and product commercialization.

According to Research Analyst, the local companies in India should follow the global companies in terms of product innovations. The demand for new products in India is fetched from western demand. Hence, new product innovations in such countries can be replicated in Indian market. For instance, Smartcast TV, 4K and 8K OLED TV are some of the best selling TV models in US. Similarly, steam front load washer and 4.8 cubic ft high efficiency top loader washer is among best selling product models in US market.

Key Topics Covered in the Report

India Air Conditioner Sales

India Air Conditioner Market

India Refrigerator Market Size

India Washing Machine Import

Residential AC Market in India

India Washing Machine Industry

Daikin Air Conditioner Market Share

India Online Electronics Market Sales

Household Appliances Market in India

India Refrigerator Market Competition

For more information about the publication, refer to the link below:

https://www.kenresearch.com/consumer-products-and-retail/consumer-electronics/india-large-appliances-market/66043-95.html

https://www.kenresearch.com/consumer-products-and-retail/consumer-electronics/china-large-appliances-market/57225-95.html

Contact Us:

Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

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Growing Preferences for Sensor Enabled Products and Product Affordability due to Easy Finance Availability has Pushed the Demand for Large Appliances in India: Ken Research

Posted on 01 December 2016 by KenResearch Consumer Products and Retail ,

Though the manufacturers are witnessing increasingly demanding customers and intensely competitive rivals, more investments in the sector are likely to flow in and the share of organized sector will also grow rapidly
Market share of front loading washing machine, multi-door refrigerator, inverter type air conditioner and 4K smart television will become the future for large appliances in India.
Make in India initiative to support domestic manufacturing is anticipated to enhance the companies to setup their manufacturing base in Indian market. This will reduce the dependency on imports that will certainly drive down the costs.

Ken Research announced its latest publication on “India Large Appliances Market Outlook to 2020- Make in Initiatives to Reduce Imports and Growing Demand for Sensor Enabled Products to Drive Demand” provides a comprehensive analysis of large appliances market in India including revenue from domestic sale in television, washing machine, air conditioner and refrigerator. Market was also estimated based on volume sales in each category. Market is segmented based on product type and sub segmented based on their essential features and price range along with distribution channel. The report also covers the snapshot of logistics, competitive landscape of major players in India large appliances market and export and import scenario. The report concludes with market projections for future and analyst recommendation highlighting the major opportunities and cautions.

Indian large appliances industry has become one of the fastest growing sectors, primarily driven by growing Indian economy. With sound growth in disposable income and the development of product technology, the demand for the diverse consumer durable goods are growing. With GST constitutional amendment bill passed by the Rajya Sabha followed by some state legislatures, the government hopes that it would be able to implement GST from April 2017. GST will be beneficial to the consumer durable industry as the companies currently pay tax in the range of 20-25% currently which is likely to come down. The GST regime will also reduce the price differential between the organized and unorganized players. Further logistics and inventory handling costs for the companies is also expected to decline. All this would lead to lower prices for the end consumer and thereby resulting in higher demand for the companies.

Washing machines in India is largely an urban phenomenon. Urban houses are nicely structured with necessary plumbing and have clean water available, unlike rural homes where hand washing is still commonplace. Improving sanitation facilities in rural areas and availability of lower priced models especially for rural population will be the key catalyst for the growth of washing machines in India.

The frost free refrigerator market of India is gaining massive popularity and momentum over traditional refrigerator models. There is a rising trend for double door refrigerator which starts from 200 liter capacity to maximum 500 liters. The demand for refrigerator in India is mainly driven from urban areas and will continue to be demanded from these regions only.

Presently for air conditioners, the northern region accounts for the largest share of the air conditioners market in India, followed by the southern region. The country is also emerging as a major production hub for the SAARC region with all major global players’ production facilities base in India. This region will continue to experience an increasing demand for air conditioners in India.

According to Research Analyst, the companies should setup their independent recycling plants, which can be utilized in a better way. Moreover, at the time of product sales, the company can use replacement as a tool for product promotion in which they can introduce a flat discount if the customer comes to replace the product after a specified period of time. If it would incur a large cost to setup independent recycling plants, two or three companies can join together to setup their plant which will also lead to economies of scale.
Key Topics Covered in the Report