The India Large Appliances Market: Ken Research
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:
Related Reports
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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