Consumer Appliances Market Outlook in India, 2017

Rising income levels and launch of versions with advanced features are responsible for increasing demand

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The Indian Consumer appliances market has witnessed robust growth trends in the past 5 years and is expected to foresee double digit growth reinforced by surging rural consumption, reducing replacement cycles, increasing penetration of lifestyle appliances, and availability of multiple brands at various price points. Rapidly shrinking replacement cycles for consumer durables sustain demand in urban India while existing low penetration rates and increasing usage of consumer durables have catapulted rural India to a high demand (30% annual growth) generating segment. Also, the income level disparities compel alignment of marketing tactics for desired customer segments. High Income groups opt for advanced features, whereas, Middle and Low Income groups are price sensitive.

Base year for the study is FY17.
Forecast period: FY18-FY21
Geography: India (Further analysis at state and regional level)

Product segmentation Consumer Appliances:
Flat Panel Display (FPD) TV: LED vs. OLED vs. 3D TV,
Refrigerators: Direct cool vs. Frost Free vs. Side by side
Washing Machine: Semi auto (SA) vs. Fully auto (top load - TL) vs. Fully auto (front load - FL)
Microwave Ovens: Solo vs. Convection vs. Grill
Room Air Conditioners: Window vs. Split

Table of Contents

Consumer Appliances Market Outlook in India, 2017Scope & LimitationsResearch Scope and LimitationsFrost & Sullivan AdvisoryConsumer durables growth is driven by low current penetration rates, increasing consumption demand and rising income levelsRegions yielding high demand growth exhibit high per capita incomes, high economic activities and higher urbanization ratesEstablishing strong a brand association and providing easy accessibility to service holds the key to growth Income level disparities compel alignment of marketing tactics for desired customer segments. HIG* opt for advanced features; M/LIG* are price conscious.Market Outlook: Panel TV, Refrigerator, Washing Machine, Microwave Oven, Room Air Conditioner Panel TV presents the largest opportunity in the consumer durables segment with high growth in all remaining segmentsRising income levels and launch of versions with advanced features are responsible for increasing demand Need for convenience drives embracing of new, evolving products like Front Load / Semi-automatic Washing machines and Microwave ovens Owing to the hot and humid climate, demand for ACs is likely to continue on a growth path Competition AnalysisLG and Samsung stand out as clear leaders in all product categories combinedRegional Analysis: Mapping of High Growth RegionsGrowth reinforced by surging rural consumption, smaller replacement cycles and increasing penetration of lifestyle appliancesHigh growth regions witness high economic activities, rising income levels, a dual working population and higher need for convenience Delhi – NCR: Higher purchasing power in the region has led to high penetration of consumer appliances in householdsPunjab: Consumers are brand conscious and exhibit high brand loyaltyGujarat: Mumbai: Mostly dual income families, consumers look for better comfort; quick adoption of new technology that offers convenienceRest of Maharashtra: Higher urbanization rate is resulting in higher uptake of utility productsAndhra Pradesh and Telangana: Characterized by low urbanization rate and rural affluence, something that is contrary to other regionsTamil Nadu & Kerala: higher literacy rates of 80.1% & 94.0% drive higher adoption of technology and feature-rich products Karnataka: Dual income IT populace pushes tech-driven products; rapid migration of unskilled labor aids sales of lower-end appliances. Uttar Pradesh & Uttarakhand: Electricity disruptions restrict growth of the market, which otherwise has huge potentialMega Trends and their ImpactRapid urbanization rate and a growing Gen Y population will dictate consumer dynamics and purchase behaviourPrice consciousness to remain a key factor among the middle class population which will be dominant in the coming years The FutureEase of operation and demand for comfort are steering lifestyle and evolution trendsTechnology will play a vital role in product penetration, adoption and differentiationWith the industry showing a higher preference for technology, companies will focus more on revamping their product portfolios and marketing strategies Annexure: Our ServicesMaximize opportunities from existing products and markets; systematically explore new products and markets including inorganic OpportunitesGrowth Consulting – Service OfferingsLegal Disclaimer




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