India Refrigerator Market – Industry Analysis and Forecast (2021-2027) by Product, Distribution Channel, Type and Region

India Refrigerator Market was volume at 12.27 Mn. Units in 2020. Top Freezer, One of the segments in MMR report is dominating the India Refrigerator Market.
India Refrigerator Market Overview:
A refrigerator is an electrical appliance that consists of a heat pump and a thermally shielded compartment that transfers heat from inside to outside and provides coolness inside by decreasing temperature. It preserves temperature a few degrees above the freezing point of water. It comprises a cupboard-like structure used to extend the shelf life of food and protect it from bacteria. It includes a vapor compressor and fridge refrigerators for domestic use. India refrigerator market was valued at the US $ 3.2 Bn.



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Though market forecasting through 2027 is based on real output, demand, and supply of 2020, 2020 numbers are also estimated on real numbers published by key players as well all-important players across the world. Market forecasting till 2027 is done based on past data from 2016 to 2019 with the impact of global lockdown on the market in 2020 and 2021.
India Refrigerator Market Dynamics:
An increase in disposable income and easy financing schemes provided to the consumers have brought refrigerators from luxurious commodities to necessities. These factors are driving the market growth.

The rising urban population across India and changes in lifestyle are persuading consumers to buy smart refrigerators. The majority of sale is generated through urban areas. Developing urban areas and High-income individuals are driving the demand for refrigerators in the Indian market.

Refrigerator has become a vital part of the kitchen in households. It is considered a safe and convenient method for the storage of foods and beverages mostly perishable goods. The increase in perishable goods and beverages is also driving the market growth of the Indian refrigerator market.

Free delivery options and various deals, discounts, festive offers are being offered to the consumers by the manufacturers in urban areas is also driving the demand for the product in the Indian market.

State governments offer a capital subsidy, stamp duty exemption, interest subsidy, tax reimbursement, and electrical duty exemption on white goods. These factor is driving the demand for refrigerators. The make in India movement is pushing the supply of refrigerators in the market.

Freon is a refrigerant gas containing halocarbons used in air conditioning, refrigeration, and dehumidification. Halocarbons that contain chlorine are known as ozone-depleting substances. Increasing refrigeration and air conditioning use are affecting the ozone layer and the absence of repairing facilities in rural areas. These factors are restraining the market growth of refrigerators.

Market trends and challenges are analyzed and compiled in the report. The data of 2020 is considered for a better understanding of the client. Moreover, Analytics of the market is based on real numbers of past years from 2016 to 2019 with market forecast until 2027.
India Refrigerator Market Segment Analysis:
By Product, Top Freezer dominated the market with a 27 % share in 2020. Ability to combine freezer and shelf storage in one unit eliminating the necessity of purchasing separate freezers. It offers plenty of space, making it convenient to store larger dishes. It is the most popular style across the world and economically priced with wide ranges. These factors are driving the market growth of this segment.
The French Door segment is expected to grow at a CAGR of 8 % through the forecast period. Increasing demand for storing frozen foods, innovation such as cold water tap, ice cube ejectors, etc., and smart technology with a digital screen, speakers, etc. are the factors expected to drive the market growth through the forecast period.



By Distribution Channel, Specialty stores dominated the market with a 28 % share in 2020. Indian consumers prefer to buy products majorly by trying a demo or touching it to avoid product returns. The product is easily available in supermarkets and can check quality, size, and requirements accordingly. Accessibility to after-service parts instantly and quickly contact the seller with issues. These factors are driving the growth of this segment.

Online Stores are expected to grow at a CAGR of 9.2 % through the forecast period. E-commerce giants are offering heavy discounts, festive offers, availability of wide range, the option of return, etc. these factors are expected to drive the market growth through the forecast period.



By Type, Direct Cool dominated the market with a 55 % share in 2020. It requires manual defrosting. They are cost-effective and require less space for installation and less energy consumption. These factors are driving the market growth of the segment.

Frost Free is expected to grow at a CAGR of 4.5 % through the forecast period. They are growing more popular in urban areas and do not require manual defrosting. A wide range of features, Advanced technologies, and cost-efficient are the factors expected to drive the market growth through the forecast period.


India Refrigerator Market Regional Insights:
South India dominated the market with a 26 % share in 2020. The region consists of states Tamil Nadu, Kerala, Karnataka, Telangana, and Andhra Pradesh. Hot weather in that area all year round is the factor driving the refrigerator market growth in this region.

North India is expected to grow at a CAGR of 5.4 % through the forecast period. It consists of states such as Uttar Pradesh, Rajasthan, Delhi, Punjab, Himachal Pradesh, Jammu & Kashmir, and Haryana. Most population and extreme summer weather conditions are the factors expected to drive the market growth through the forecast period.



The objective of the report is to present a comprehensive analysis of the India Refrigerator market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the India Refrigerator market dynamics, structure by analyzing the market segments and projecting the India Refrigerator market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the India Refrigerator market make the report investor’s guide.
India Refrigerator Market Scope: Inquire before buying



Global India Refrigerator Market


Report Coverage
Details


Base Year:
2020
Forecast Period:
2021-2027


Historical Data:
2016 to 2020
Market Size in 2020:
US $ 12.27 Mn. Units


Forecast Period 2021 to 2027 CAGR:
26%
Market Size in 2027:
US $ 61.86 Mn. Units


 Segments Covered:
by Product
• Top Freezer
• Bottom Freezer
• Side by Side
• French Door


by Distribution Channel
• Supermarkets
• Specialty Stores
• Online
• Others


by Type
• Frost Free
• Direct Cool



India Refrigerator Market, by Region
• North India
• South India
• East India
• West India
India Refrigerator Market Key Players
• Onida
• Rockwell Companies
• Sinfin Company
• BPL companies
• Samsung
• Bosch
• Siemens
• Godrej
• Electrolux
• Videocon
• LG
• Whirlpool
• Panasonic
• Haier
• Voltas Limited
• Hitachi
• Sharp
• Amana
• Kitchenaid
• MIDEA
• Kenmore
• GE
• Frigidaire
FAQ:
1] What segments are covered in the India Refrigerator Market report?
Ans. The segments covered in the India Refrigerator Market report are based on Product, Distribution Channel, and Type.

2] Which region is expected to hold the highest share in the India Refrigerator Market?
Ans. North India Region is expected to hold the highest share in the India Refrigerator Market.

3] What is the market size of the India Refrigerator Market by 2027?
Ans. The market size of the India Refrigerator Market by 2027 is 12.27 Mn. Units.

4] Who are the top key players in the India Refrigerator Market?
Ans. Onida, Rockwell Companies, Sinfin Company, BPL companies, Samsung, Bosch, Siemens, Godrej, Electrolux, Videocon, LG, Whirlpool, Panasonic, Haier, Voltas Limited, Hitachi, and Sharp.

5] What was the market size of the India Refrigerator Market in 2020?
Ans. The market size of the India Refrigerator Market in 2020 was 61.86 Mn. Units.