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Published on: Jun 2020 | From USD $2900 | Published By: MORDOR INTELLIGENCE | Number Of Pages: 120
India is undergoing a major change in its economic environment and is growing fast. Indian major home appliance market is driven by an increase in the use of online sales, electrification of rural areas, rising disposable incomes, and easy access to the credit. The Make in India Program and the upcoming national policy for electronics (NPE) will further bring about major policy changes for the large appliance industry. There is a rise in the ease of doing business in the market which can escalate the production and consumption in the market further.
There is a huge amount of FDI in the large home appliance sector. Various companies such as GermanyŐs Bosch, Siemens, TurkeyŐs Arcelik, and domestic brands such as Godrej and BPL are planning to invest in manufacturing and use backward integration methods.
Shanghai Hitachi, a joint venture between Hitachi Japan and Shanghai is also expanding compressor units in Gujarat. Factors such as high manufacturing costs, high-interest rates of loans from the bank, and Goods and Services Tax on major home appliances purchase might restrain the growth of the market. While a rise in customs duty to reduce carbon emission from appliances likely drive the large home appliance production in country.
Key Market Trends
Rise in Production of Major White Goods in India
The Indian major appliance market has witnessed an increase in the production of white goods such as refrigerators, washing machines, and air conditioners. Production of refrigerators in India increased 3% y-o-y in the year 2018 to 11.88 million units. Production of washing appliances in India increased by 5.1 % year-on-year in the year 2018 to 5.79 million units. During the year 2018,(up to February 2018) production of air conditioners in India increased 4.9 % y-o-y to 3.19 million units. The white goods industry is highly concentrated in India with the top five players having more than 70% of market share. Xiaomi, a China-based start-up company entered the white goods segment in India in 2019.
Penetration of major home appliances is expected to rise
India is a complex market when it comes to selling of household consumer appliances. As compared to various neighboring countries there is low penetration of air conditioners, refrigerators, and washing machines in the country. The penetration of refrigerators is pretty low at around 33%, the penetration rate of air conditioner stands at 4.50%, and washing machines at 13%. A television, on the other hand, has high penetration in the Indian market.
Competitive Landscape
Indian major home appliance market is moderately concentrated in nature. The white home appliance market is concentrated with 5 major players occupying the market. However, the kitchen appliances market is fragmented in nature. Haier group holds fifth positions in the market and is aiming to get in the top three places in the market.
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1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
2.1 Analysis Methodology
2.2 Research Phases
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS and INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
4.5 PESTLE Analysis
4.6 Porter's Five Forces Analysis
4.7 Insights on impact of COVID-19 on the market
4.8 Insights on multi-functional major home appliances in the Indian market
4.9 Insights on government regulations in the market
4.10 Insights on technological disruptions in the market
4.11 Insights on Make in India and other Policies
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Refrigerators and freezers
5.1.2 Washing machines
5.1.3 Air conditioners
5.1.4 Microwave ovens
5.1.5 Cooking appliances (ranges/hobs)
5.1.6 Dishwashers
5.1.7 Others
5.2 By Distribution Channel
5.2.1 Offline
5.2.2 Online
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Mergers & Acquisitions
6.3 Company Profiles
6.3.1 Blue Star Limited
6.3.2 IFB Home Appliances
6.3.3 Hawkins Cookers Limited
6.3.4 Godrej
6.3.5 Bajaj Electricals
6.3.6 Panasonic
6.3.7 Samsung Electronics
6.3.8 LG India
6.3.9 Whirlpool
6.3.10 Voltas
6.3.11 Lloyd
6.3.12 Bosch
6.3.13 Haier Appliances
6.3.14 Electrolux
6.3.15 Hitachi Home & Life Solutions
6.3.16 Philips India
6.3.17 Bajaj Electricals
6.3.18 Morphy
6.3.19 Birla Electricals
7 FUTURE AND OPPORTUNITIES IN THE MARKET
8 DISCLAIMER
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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