New Delhi: The Indian market for consumer electronics and appliances has grown at a CAGR of 9.7 per cent over the FY2010-14 period to reach US$ 9.7 billion at present. It is expected to continue its growth path to reach a size of US$ 20.6 billion by 2020 on account of factors such as high disposable income, easy consumer financing and organised retail. India is also expected to be among top five consumer durables market globally by 2025. Currently, the urban market accounts for 65 per cent of the total revenue in the consumer durables sector in India. However, in future growth is expected to be driven by the rural market which is supported by government initiatives like rural electrification. The consumer electronics segment consisting of TV, DVD players, set top boxes, home theater systems, MP3 players, audio equipments, digital cameras and household appliances like washing machine, ACs, microwave, refrigerators, etc., constitutes 17 per cent of the total Indian electronic products market. The LED/LCD market is projected to grow at around 20 per cent in FY2014-20 period, while refrigerator market is expected to grow at around 10 per cent during the same period. Air-conditioners would continue to rise between 6 to 7 per cent in FY2014-20 period, while washing machines are projected to grow up to 9 per cent during the period.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
