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As per the research study, the India Refrigerator Market is anticipated to account a growth at a CAGR of 8.1% during the forecast period 2021-2027. The revenue generated from the sales of refrigerators in India witnessed a growth to US$ 6,900 million by the end of the year 2027. The refrigerator market in India is increasing due to improving living standards coupled with rising disposable income and technological advancements contributing to increased convenience at low prices.
Smart refrigerators are highly in demand due to rising demand for environmentally friendly refrigeration products and power efficient freezers in India.
A detailed analysis of the India refrigerator market includes an assessment of the emerging market trends by segments and various micro and macro-economic factors that are significantly changing the overall market dynamics for the forecast period. The report detailed an analysis of the India refrigerators market for the period 2017 to 2027, wherein 2017-2019 is the historic data, 2020 is considered as the base year and 2021-2027 is the forecast period.
The 150 pages report on India refrigerator market offers detailed analysis of market opportunities, market dynamics, and industry competitive structure and other major market determinants elucidated across 12 chapters.
The research report covers in-depth analysis of market traits, country breakdowns, segmentation, growth, competitive landscape and strategies and recent market trends of this market. The study traces historic and forecast data of the market within the context of India refrigerator market. The analysis part include comparison with other market segments, market definition, sales and revenue, regional market opportunity, industrial chain, and manufacturing cost analysis with detailed factor analysis.
The research report presents market size forecast and related data in the form of graphs, bar & pie charts, tables, and statistics with quantitative insights on business intelligence.
The report provides comprehensive analysis for market opportunities in refrigerator industry in India. The regions that are extensively analyzed are North India, South India, East India and West India. As per the studies, South India accounted for highest shareholding in both value and volume terms for the year 2020; with Tamilnadu contributing majorly to the dominance of regions. East India is estimated to grow at a fastest CAGR of 8.6% in the India refrigerator market during the forecast period, with Odisha leading the way in the demand of refrigerators for the forecast period.
The segment analysis section of the India refrigerator market report includes study of the market basis of following parameters – Model Type, Retail Format, Capacity, Technology and End User. These key market segments have been studied in detail along with 17 sub-segments, offering reading with exclusive and detailed insights of the marketplace.
Impact Assessment of COVID-19
This section in the research study of the India refrigerator market includes identification and investigation of the following parameters: Overall Market Structure, Supply Chain and Value Chain, Short-term Market Determinants, Emerging Product Trends & Upcoming Market Opportunities. This analytical piece of research study also inspects the financial standing of major key companies along with individual growth rate, and other financial ratios.
Growing urbanization due to high disposable income in the country is estimated to be the major factor for the growth of the refrigerator market in India. Indian cities contribute to about 2/3 of the economic output, host a growing share of the population and are the main recipients of FDI and the originators of innovation and technology and over the next two decades are projected to have an increase of population from 282 million to 590 million people. Cities and towns in India have expanded rapidly as increasing numbers migrate to cities and towns in search of economic opportunity and improved lifestyle.
Growing urbanization will augment the demand for improved infrastructure in almost all applications ranging from residential to commercial applications. Moreover, in homes, connected devices are likely to transform the consumption behavior of consumers over the forecast period. The increasing urban population creates demand for refrigerator systems and therefore, it is estimated to augment the market growth in the region.
Intensity of competition in the India Refrigerator Market
The competitive landscape section of India refrigerator market research report covers detailed company profiling of 14 key companies and scope is not limited to listed companies only, readers can ask for customization and revised list of market players according to their requirements.
The company profile section includes various categories to include detail about companies under the head of Business Description, Strategy Outlook, Product Portfolio, Financial Performance, Business and Regional Segments and Recent Developments. The companies profiled in the research report are Blue Star Limited, Croma, Electrolux AB, Godrej Group, Haier Group Corp., Hitachi Ltd., LG Electronics Inc., Liebherr-International Deutschland GmbH, Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co., Ltd., Tropicool India, Voltas, Inc. and Whirlpool Corp.
Segmentation Overview of the India Refrigerator Market
By Model Type
By Retail Format
By End User
By Region/ City