Base Year
Historical Year
Forecast Year
The India refrigerator market reached approximately USD 31.50 billion in 2023. The market is projected to grow at a CAGR of 7.8% between 2024 and 2032, reaching a value of around USD 61.93 billion by 2032.
| India Refrigerator Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 31.50 |
| Market Size 2032 | USD Billion | 61.93 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 7.8% |
| CAGR 2024-2032 - Market by Region | North India | 8.6% |
| CAGR 2024-2032 - Market by Region | South India | 7.5% |
| CAGR 2024-2032 - Market by Type | French Door Refrigerator | 8.6% |
| CAGR 2024-2032 - Market by Application | Commercial and Industrial | 8.7% |
| Market Share by Region | West India | 27.3% |
The electronics sector in India has witnessed remarkable expansion in recent years, fuelled by a combination of growing local manufacturing and substantial imports to cater to the increasing demand. With the support of government initiatives and a developing ecosystem, the nation aims to establish itself as a key player in global electronics manufacturing. Electronics production in India reached Rs 640,810 crore in the fiscal year 2021-22 (equivalent to US $80 billion). Additionally, India possesses excess manufacturing capacity for refrigerators. Due to existing free trade agreements with selected nations, specific products are being brought in at reduced duties. As of June 2022, India's production capability of refrigerators stood at 23 to 24 million units annually, with imports accounting for approximately 8% of total sales.
The modernisation of kitchens with contemporary appliances has encouraged consumers to lean towards refrigerators that offer advanced features like frost-free technology, energy efficiency, smart connectivity, and multiple door options. Technological advancements have resulted in the creation of energy-efficient refrigerators, appealing to those who want to lower their electricity costs. The inclusion of smart features such as digital touch panels, Wi-Fi connectivity, and AI-driven functionalities is gaining traction among consumers who are tech-savvy.
“India Refrigerator Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Technology
Market Breakup by Product Type
Market Breakup by Capacity
Market Breakup by Distribution Channel
| CAGR 2024-2032 - Market by | Region |
| North India | 8.6% |
| South India | 7.5% |
| West India and Central India | XX% |
| East India | XX% |
Market Breakup by Region
Based on application, the market is segmented into French Door, top freezer, and bottom freezer, among others. French door refrigerators are expected to grow at a CAGR of 8.6% between 2024 and 2032 as they boast stylist designs, enhance convenience of users, and offer flexible storage options.
Major players are focusing on the production of smart and energy efficient refrigerators to gain a competitive edge in the market.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Technology |
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| Breakup by Product Type |
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| Breakup by Capacity |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market reached an approximate value of USD 31.50 billion.
The market is estimated to grow at a CAGR of 7.8% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around USD 61.93 billion by 2032.
The market is being driven by rising disposable income, rapid urbanisation, and changing consumer lifestyles.
The key trends aiding the market expansion include the integration of smart technology and the production of energy-efficient refrigerators.
The major regions considered in the market are East India, West and Central India, North India, and South India.
The different distribution channels of refrigerators are hypermarkets/supermarkets, speciality stores, and online channels, among others.
The major players in the market are Whirlpool Corporation, Electrolux AB, Panasonic Holdings Corporation, Samsung Electronics Co., Ltd., LG Corporation, Godrej & Boyce Manufacturing Company Limited, Haier Inc., Robert Bosch GmbH, Johnson Controls International plc, and Tata Group, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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