India Refrigerator Market, By Type, By Technology, By Distribution Channel (Multi Branded Stores, Supermarkets/Hypermarkets, Exclusive Stores, Online, and Others, By End Use, By Region, Competition, Forecast & Opportunities, 2018-2028

India refrigerator market was valued at USD3071.96 million in 2022, and it is anticipated to further grow at an impressive CAGR of 11.62% during the forecast years, to achieve market value of USD5880.87 million by 2028F. The growth of the India refrigerator market can be attributed to the increasing household income of the Indian middle-class families. improving living standards, rapid urbanization, and rising number of nuclear families.

Some of the major factors driving the market growth include consistent research and technological advancement in the products available. Advancements like less consumption of energy, saving electricity consumption, higher functioning efficiency, better cooling effect, and AI-enabled functions further support the growth of the India refrigerator market in the next five years. Advancements like the internet of things, self-adjustable temperature based on outside temperature and climate, better innovations, and product evolution also aid the growth of the India refrigerator market in the future five years. Although the distribution channels were disrupted during pandemic and long waiting times restrained the market growth, the demand for the advanced and highly efficient refrigerators increased, thus substantiating the growth of the India refrigerator market in the forecast years through 2028F.

he India refrigerator market is segmented by type, technology, distribution channel, end-use, competitive landscape, and regional distribution. The market is further segmented based on type: single door, top freezer, side-by-side, bottom freezer, and french door. By technology, the market is differentiated between non-smart and smart. Based on distribution channel, the market is fragmented into multi-branded stores, supermarkets/ hypermarkets, exclusive stores, online, and others like direct sales, wholesales, etc. By end-use, the market is bifurcated between residential and commercial. The market is also studied under regional analysis among the country's regions, North India, South India, East India, and West India region. North India held the largest market share of 34.30% in 2021, due to higher sales of refrigerators in the major cities like Delhi & NCR. Higher economic stability among the population supported by growing household income is the major factor driving the region's growth. Also, the region's increasing population is responsible for the regional growth and the growth of the India refrigerator market in the upcoming five years.

LG Electronics India Private Limited, Samsung India Electronics Private Limited, Godrej & Boyce Manufacturing Company Limited, Whirlpool of India Limited, Haier Appliances (India) Private Limited, Hitachi India Private Limited, Panasonic India Private Limited, Blue Star Limited, Bosch Limited, Siemens Limited, etc. are some of the leading market players in the India refrigerator market. New market players are also actively entering the market in recent years, further strengthening future market growth:

Historical Years: 2018- 2021

Base Year: 2022

Estimated Year: 2023E

Forecast Period: 2024F- 2028F

Objective of the Study:

• To analyze the historical growth in the market size of India refrigerator market from 2018 to 2022.
• To estimate and forecast the market size of India refrigerator market from 2023E to 2023 and growth rate until 2028.
• To classify and forecast India refrigerator market based on type, technology, distribution channel, end use, competitive landscape, and regional distribution.
• To identify dominant region or segment in the India refrigerator market.
• To identify drivers and challenges for India refrigerator market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India refrigerator market.
• To identify and analyze the profile of leading players operating in India refrigerator market.
• To identify key sustainable strategies adopted by market players in India refrigerator market.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the companies which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across India.

TechSci Research calculated the market size of India refrigerator market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• Manufacturers, suppliers, distributors and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to refrigerator
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, India refrigerator market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• India Refrigerator Market, By Type:

Single Door

Top Freezer

Side-by-Side

Bottom Freezer

French Door

• India Refrigerator Market, By Technology:

Non-Smart

Smart

• India Refrigerator Market, By Distribution Channel:

Multi-Branded Stores

Supermarkets/Hypermarkets

Exclusive Stores

Online

Others

• India Refrigerator Market, By End Use:

Residential

Commercial

• India Refrigerator Market, By Region:

North

West

South

East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India refrigerator market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).