The India Refrigerators Market delves into various aspects, enabling readers to gain a deep understanding of the market dynamics, trends, and potential opportunities.
India Refrigerator Market size- Industry Trends & Forecast Report 2026
India Refrigerator Market Forecast and Trends
The India refrigerator market has reached USD 3.2 Billion in 2019 and projected to grow with a significant CAGR of 9.3% during the forecast period 2020-2026. India consumers are now looking beyond cooling. Along with high capacity for a multiplicity of food and beverage storage, the growth of connected homes is driving the demand for more and smarter features in new-age refrigerators.
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In the coming future, refrigerator technology is anticipated to evolve immensely. The penetration of refrigerators is steadily increasing in the country. There is a huge scope for brands to revolutionize this space by presenting product innovations focused on semi-urban and rural India. Most of the demand is still in urban areas. This growth can be largely accredited to increasing household incomes, better-quality technologies, rapid urbanization, and environmental changes. In large untapped markets like India, these factors have changed the product and purchase patterns in the last 2-3 decades. The domestic refrigerator industry is observing a major change, right from product and design innovations to providing value for money and energy-efficient solutions to consumers with a range of choices.
India Refrigerator Market: Overview
A refrigerator includes a thermally shielded compartment and a heat pump that transfers heat from inside of the fridge to its external environment. This provides coolness inside the refrigerator by making the temperature below the room temperature. The low temperature reduces the reproduction rate of bacteria, which reduces the rate of spoilage. A refrigerator preserves a temperature a few degrees above the water freezing point. The basic reason for having a refrigerator is to keep food cold. Cold temperature help food stays fresh longer.
Growth Drivers
Electrification supporting the expansion of demand
Increased access to electricity is assisting the development of the refrigeration appliances category in the India market. Prime Minister, Narendra Modi, declared that the government had reached its target of offering every village in the country with electricity in 2018. The Saubhagya Scheme has been launched by the Prime Minister which provided free-electricity connection and low-cost power supply to the household. This led to the electrification in rural India which in turn increased the demand for electrical appliances. In India, refrigerators have the highest aspiring value among all consumer durables, with the exception of televisions. This leads to the high growth rate of the refrigerator market and providing several opportunities for the market players.
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The growing emphasis on energy-efficiency
The growing focus on energy efficiency is influencing the development of refrigeration appliances. Refrigerators come under the mandatory Standards and Labelling Programme introduced by the Bureau of Energy Efficiency (BEE) under the Ministry of Power. Given rising incomes and falling appliance prices, demand for residential, commercial appliances in India has been increasing rapidly over the last few years. India’s growing consumer appliance market is progressively adding to the demand for energy. Energy efficiency and protection practices for home appliances and industrial equipment can assist in reducing energy consumption, emissions, and energy cost burden. India has introduced important policy measures to encourage energy efficiency in appliances.
Restraint
Inconsistent temperature and raucous compressors
The inconsistent temperature and disturbing noise and loudness from the compressor are expected to hinder the market growth. The subpar noise and inconsistent temperature leads to the hurdle in the growth of refrigerator market.
India Refrigerator Market: Type
On the basis of type, the market is segmented into Direct Cool Refrigerator, Frost-free Refrigerators. The DC (direct cool) segment is expected to grow at a better pace than the FF (frost-free) segment. The consumers’ preference in semi-urban and rural areas is moving towards DC models as they employ lesser space and available at lower price points.
India Refrigerator Market: Distribution Channel
Based on its distribution channel, the market is segmented into Specialty Retail Stores, Departmental Stores, Supermarkets, Discount Store, and Online. Specialty retail stores provide a wide variety of brands and product portfolios of multiple brands across all outlets and are the most preferred distribution channel by the customers in the India market. This segment was the key revenue contributor to the market, and this trend is expected to continue in the coming years as well.
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Competitive Landscape
India Refrigerators market is fragmented owing to the presence of several large-sized companies, mid-sized & small-sized companies, and many start-ups that provide Refrigerators industry. However, the companies that hold the major share of Refrigerators market are Samsung, Whirlpool Corporation, Panasonic, LG Electronics, Godrej, Electrolux, Haier, Onida Electronics, Videocon Consumer Electronics & Home, Kelvinator, Sharp Corporation, Hitachi, Voltas, and other prominent players.
Recent Development
Ø In February 2018, Whirlpool Corporation invested in its Pune, India manufacturing facility which produces refrigerators. The investment was done to increase the refrigeration manufacturing capacity and to deliver the best products to India customers.
Ø In April 2019, Samsung launched SpaceMax series side-by-side refrigerator in India that lets to store more food without increasing external dimension that came with a harmonious kitchen interior and all-round cooling system.
- By Model Type
- Mini Freezers
- Top Freezer
- Bottom Freezer
- Side by Side
- French Door
- Merchandizers
- By Retail Format
- Online
- E-commerce
- Brand
- Offline
- Specialty Stores
- Brand Stores
- Online
- By Capacity
- <200 L
- 200 – 499 L
- 500 – 700 L
- > 700L
- By Technology
- Smart
- Conventional
- By End-user
- Residential
- Commercials (HoReCa)
- Restaurants & café
- Hotels
- Hospitals & Pharmacies
- Others (Education, Enterprises)
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By Region:
Ø Northern India
Ø Southern India
Ø Western India
Ø Eastern India
The objective of the Study:
Ø To analyze and forecast the India Refrigerator Market size of the market in terms of value.
Ø To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.
Ø The India Refrigerator Market segmented into five regions, namely, Northern India, Southern India, Eastern India, and Western India.
Ø To outline, categorized, and forecast the India Refrigerator Market based on the Product Type, Distribution Channel.
Ø To examine competitive developments like technological advancement, services, and regulative framework within the India Refrigerator Market.
Ø To highlight the impact analysis of the factors affecting the market dynamics such as drivers, restraints, opportunities, and challenges.
Ø To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
Table of Content
Chapter 1: Global India Refrigerators Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global India Refrigerators market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global India Refrigerators Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global India Refrigerators market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of India Refrigerators market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the India Refrigerators market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the India Refrigerators market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate India Refrigerators business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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