Shangliao Sun
Research expert covering India
Consumer durables in India - statistics & facts
Consumer durables was one of the largest and fastest growing segments within India’s consumer market. It consists of two main categories: home and household appliances, and consumer electronics. Major and small appliances, like refrigerators, washing machines, and microwave ovens, vacuum cleaners and fans, are broadly classified as home appliances. As for consumer electronics, the definition in India vary depending on the source. When mentioned in the context of consumer durables, it mostly includes television sets, radios, personal computers and sometimes mobile phones and other electronic devices, like tablets, wearable devices, etc.
Major players
The leader of the household appliances market was Whirlpool of India Limited, with a revenue of 62.1 billion Indian rupees in financial year 2023. Domestic brands like Bajaj and Crompton were also popular in the market. And with the growing popularity of smart devices, including smartphones, smart TVs, and smart wearables, despite the initially low penetration rate compared to other more mature markets across the globe, the consumer electronics segment in India would become a more and more important, with an estimated market size of 92 billion U.S. dollars in 2028. In the category of smartphones and smart wearables, Chinese vendor Xiaomi had preformed very well in recent years.Consumption
As a country with a huge population, and growing household income and purchasing power, India was the second largest market for major appliances and the third largest market for small appliances in 2022, based on revenue. For instance, the air conditioner market has seen steady growth since 2009, with climate change induced heat waves in India as one of the driving forces behind its increased demand. For many durable goods, India is still a market with great growth potential. In the consumer electronics segment, televisions occupied the top with an estimated 226 million households in 2022 with an estimated market size of 16.02 billion U.S. dollars in 2023. However, with the impact of COVID-19 pandemic, the market growth has been interrupted for a few years.
