Demand for consumer appliances in India has been growing, along with rising rural incomes, increasing urbanisation, the growing middle-class and changing lifestyles. Rising disposable incomes coupled with easy financing schemes have led to shortened product replacement cycles and the changing perception of owning appliances, whereby appliances previously considered luxuries have now become considered necessities.
Consumer appliances in India increased at a steady pace throughout the review period, driven by both major appliances and small appliances; in 2018, major appliances saw slightly higher growth than small appliances. Most categories within consumer appliances saw both retail volume and current value growth in 2018.
International companies view India as one of the key markets for future growth in consumer appliances. The growth in demand is being driven by favourable demographics in terms of the working population and higher disposable incomes in rural areas.
Electronics and appliance specialist retailers remained the most popular distribution channel in 2018, as consumers prefer to shop at physical stores to be able to touch and try out the product before purchasing. When buying any product, but especially major appliances, people continue to see it as a significant investment, and want to study and see the product physically before purchasing.
The growing economy and the evolving lifestyles of Indian consumers are leading to a rise in the number of working couples, nuclear families and single-person households, along with the migrant working population. Consequently, these evolving households have an increasing need for convenience and are looking for products that offer convenience and significantly reduce the time and effort spent on household chores.
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Discover the latest market trends and uncover sources of future market growth for the Consumer Appliances industry in India with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Consumer Appliances market research database.