India White Goods Market, By Product (Air Conditioner, Refrigerator, Washing Machine, Dishwasher, Microwave Oven, Others), End-User (Residential, Commercial), Distribution Channel (Supermarket and Hypermarket, Specialty Store, Retail Store, E-commerce, others) – Industry Trends and Forecast to 2030.
India White goods Market Analysis and Size
White goods are an important part of every household. From being measured as luxuries former, they have become important goods now. These white goods are used in several ways and directly link with society's basic requirements. They are linked with individual well-being and with the environment of the home. These goods play a dynamic role in saving resources such as time and energy to a great extent. In today’s business scenario, demand for these goods is high owing to improved lifestyles of people and their use in day-to-day life applications.
Data Bridge Market Research analyses that the white goods market was valued at USD 11788.81 million in 2022 and is expected to reach USD 18092.13 billion by 2030, registering a CAGR of 5.50% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.
India White goods Market Scope and Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 to 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 (Customizable to 2015 - 2020)
|
|
Quantitative Units
|
Revenue in USD Million, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Product (Air Conditioner, Refrigerator, Washing Machine, Dishwasher, Microwave Oven, Others), End-User (Residential, Commercial), Distribution Channel (Supermarket and Hypermarket, Specialty Store, Retail Store, E-commerce, others)
|
|
Market Players Covered
|
Friedr. Dick GmbH & Co (Germany), GLOBAL APPLIANCES USA (U.S.), KAI USA LTD (U.S.), Kiya corp. (Japan), Messermeister (Germany), Victorinox AG (Switzerland), Anker Innovation Technology Co., Ltd. (China), Samsung Electronics Co., Ltd (South Korea), Shenzhen Proscenic Technology Co. Ltd. (China), Neato Robotics, Inc. (U.S.), Cecotec Innovaciones S.L. (Spain), L.G. Electronics Inc (South Korea), Dyson Limited (U.K.), Panasonic Corporation (Japan), and Sharp Corporation (U.S.)
|
|
Market Opportunities
|
|
Market Definition
White goods are large household appliances such as washing machines, tumble driers, dishwashers, stoves, refrigerators, freezers and air conditioners. They are large electrical goods that were traditionally available only in white. White goods are normally kitchen and home appliances used for several common purposes such as heating & cooling, cleaning, in the hospitality sectors, washing of clothes, cooking and preservation of food and many other applications used widely in daily life.
India White goods Market Dynamics
Drivers
- Increasing usage of washing machines in hospitals
Washing machines are mainly used to get the dirt out form clothes. In hospitals, laundry service is very essential from healthcare point of view. Hospitals receive hundreds of patients daily who suffer from different types of diseases. Their clothes get infected by diseases and bacterial effects they carry with them. Washing machines aid in the control of infectious diseases, which can transmit from one to another person. Washing machines are mainly essential to maintain hygiene in hospitals. Special detergents are used for washing clothes which can kill the maximum bacteria. Thus, the increase in the number of hospitals and patients in this region also acts as one of the major factors for the increasing usage of washing machines in hospitals and is thus is anticipated to drive the market growth.
- Inclination towards advanced features of refrigerators
Technological awareness about refrigerators has augmented the market of advanced products of refrigerators. Advanced models of refrigerators comprise new features such as automatic temperature controls, sensors for lighting, chiller, door style, and among others. The market is highly inclined towards advanced models owing to the increase in technological advancement, buying power and smart refrigerators which Wi-Fi and smartphones can also control. Thus, the advancement and automation in the refrigerator have augmented the demand for the white goods and are anticipated to propel the market growth.
Opportunities
- Government initiatives toward energy-efficient household appliances
In the last few years, numerous R&D activities and investments have been done by government to create advanced and innovative kitchen and home appliances such as smart refrigerators, which would be energy efficient in the long term. Furthermore, the growing investments towards sustainability in manufacturing kitchen and home appliances that would produce fewer emissions further contribute to the augmented demand for white goods. This, in turn, is anticipated to provide an opportunity for the market.
- Increasing demand for evolving electronic brands with new and advanced technologies
The electronics industry is normally divided between electric utilities, consumer electronics, and general electronics, where consumer electronics mainly drive the growth of this sector, including kitchen appliances and smart home. The increasing demand for smartphones, voice recognition technology, artificial intelligence, and replacement cycles of old and manual machines have stimulated the usage of smart electronic devices. The highly mature and competitive home appliance sector has long focused on product innovation. Moreover, advanced technology development and increasing e-commerce activities in manufacturing electronic goods in the smart home appliance sector have augmented the demand for white goods. This, in turn, is anticipated to enhance the market growth.
Restraints/ Challenges
- High service and maintenance cost of new refrigerators
The price of running a new model refrigerator highly depends on the power of consumption per day. Factors such as refrigerator features and size affect the extent of power used. Still, a great portion of the price also depends on the service and maintenance expenses that must be spent on the new kind of refrigerator. Moreover, the fridges need cleaning from top to bottom every week only with a cleaner which appliance manufacturer will recommend. This reduces the demand for white goods and is anticipated to hamper the market growth.
- Low replacement rate due to life span of refrigerators
Awareness has augmented about electronic gadgets among the people because they know when replacement is required. Instead of going for a replacement process, the repair of refrigerators is most common in the refrigeration market. Furthermore, the replacement of refrigeration includes high expenses which further go-slows the replacement process. Thus, the reduced replacement rate of refrigerators has dropped the demand for these goods and is anticipated to hamper the demand of these goods in the market.
This white goods market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the white goods market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact of COVID-19 on India White Goods market
COVID-19 pandemic has impacted several manufacturing industries in because it led to the closure of disruption of supply chains, workplaces and restrictions on transportation. However, a substantial impact was noticed on the white goods market. This pandemic had minimal Impact on India white goods market. White goods supply and operations chain, with several manufacturing facilities, were still operating in the country. The service providers continuously offering white goods following safety and sanitation measures in the post-COVID scenario.
Recent Development
- In June 2022, Johnson Controls has launched OpenBlue technology that allows companies to transform and future-proof their building estates into healthy, smart, and sustainable spaces. This in turn helps the company build a strong presence worldwide.
India White Goods Market Scope
The white goods market is segmented on the basis of product, application and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Refrigerator
- Cooking Appliance
- Dishwasher
- Air Conditioner
- Washing Machine
- Microwave Oven
- Others
Application
- Commercial
- Residential
Distribution channel
- Supermarket and Hypermarket
- Specialty Store
- Retail Store
- E-commerce
- others
Competitive Landscape and White Goods Market Share Analysis
The white goods market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to white goods market.
Some of the major players operating in the white goods market are:
- Friedr. Dick GmbH & Co (Germany)
- GLOBAL APPLIANCES USA (U.S.)
- KAI USA LTD (U.S.)
- Kiya corp. (Japan)
- Messermeister (Germany)
- Victorinox AG (Switzerland)
- Anker Innovation Technology Co., Ltd. (China)
- Samsung Electronics Co., Ltd (South Korea)
- Shenzhen Proscenic Technology Co. Ltd. (China)
- Neato Robotics, Inc. (U.S.)
- Cecotec Innovaciones S.L. (Spain)
- L.G. Electronics Inc (South Korea)
- Dyson Limited (U.K.)
- Panasonic Corporation (Japan)
- Sharp Corporation (U.S.)
SKU-