The India refrigerator market is anticipated to grow at a CAGR of 8.4% during the forecast period. Continuous GDP growth, rising disposable income, & urbanization, increasing temperatures of the country (especially in summers) are rising the demand for refrigerators in India. Moreover, with the increase in supermarket penetration in the country, the demand for commercial refrigerators are also expected to grow considerably in the near future. Moreover, the market is attributed to the strong presence of various global market players that are engaged in various product portfolio expansion activities as per the consumer requirements across the country. For instance, in February 2020, Haier Group launched a new range of single-door inverter refrigerators that is available in HRD-242-E, HRD-2623-E variants in the Indian market. 

Due to COVID-19 and the nationwide lockdown, consumer expenditure on the luxury item is expected to decrease in 2020. Hence, in order to increase consumer spending, the government of India is offering advance LTC (Leave Travel Concession) to the central government employees. It was estimated to be around $2.6 billion. The only condition for the LTC is the consumer has to spend the money on the product which attracts 12% GST (Good and Service tax). These tax slab products include white goods such as refrigerators, washing machines, mobiles, and two-wheelers/ four-wheelers. Such cohesive government schemes are expected to support the refrigerator market in India during the COVID-19 pandemic. 

The India refrigerator market is segmented based on product type, application, and distribution channels. Based on the product type, the market is sub-segmented into a single door, double door, side by side door, French door, and other. Based on the application, the market is sub-segmented into residential and commercial. Further, based on the distribution channel the market is bifurcated into the online channel and offline channel. 

The key players of the India Refrigerator market include Samsung Electronics Co. Ltd., LG Electronics Co. Ltd., Electrolux AB, Haier Group Corp., Robert Bosch GmbH, Whirlpool Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers, and acquisitions, collaborations, and funding, to stay competitive in the market. 

Research Methodology

The market study of the India refrigerator market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts to bring more authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for refrigerator manufacturers & distributors, consumer appliance, research organizations, start-ups, seed funders, venture capitalists, and other related organizations for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, products offered by the companies, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.

Market Segmentation

1. India Refrigerator Market Research and Analysis by Product Type
2. India Refrigerator Market Research and Analysis by Application
3. India Refrigerator Market Research and Analysis by Distribution Channel

The Report Covers

• Comprehensive research methodology of the Indian refrigerator market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Indian refrigerator market.
• Insights about market determinants which are stimulating the Indian refrigerator industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.