The Indian consumer electronics and domestic home appliances market is expected to grow from $31.4 bn in 2017 to $48.3 bn by 2022 at 9% CAGR
Demand is expected to grow at 41% CAGR (2017-20) to reach $400 bn by 2024. With domestic production touching $60 bn in 2018-19, there is an import shortfall of $340 bn
50-60% of the products & 70-80% of components are imported
India is the world’s second largest mobile phone market and boasts 7.6% of the global smartphone market
The 2019 appliance & consumer durable market was $10.7 bn
The Indian consumer electronics and domestic home appliance market is expected to grow at 9% CAGR till 2022, from US$ 31.4 billion in 2017 to US$ 48.3 billion by 2022
The demand for electronic products is expected to grow at a CAGR of 41% during 2017-2020 to reach US$ 400 billion by 2020
Domestic electronics production is growing at a CAGR of 27% and may touch $104 billion leaving an import shortfall of around $300 billion
India’s imports of electronic goods grew 31% between April and October 2017 to $29.8 billion.
The overall Indian electronics market grew by 8.6% YoY to reach $75 billion in 2015, driven by rising local demand
Of the country’s total demand for electronics, between 50-60% of the products and 70-80% of the components are imported
India is the world’s second largest mobile phone market and boasts 7.6% of the global smartphone market.
India is also the world’s second-largest smartphone market after China. It shipped over 40 million smartphones in the July-September period of 2017. Yet, only 300 million – one fourth of Indians – use smartphones.
India is also counted amongst the largest fast-moving consumer goods (FMCG) and durable markets in the world, worth US$ 38 billion and US$ 10.7 billion, respectively.
The size of home appliances and consumer durables market was US$ 15.5 billion in 2017
The consumer durables market in India is expected to reach US$ 20.6 billion by 2020 with India becoming the fifth largest consumer durables market in the world by 2025.
India has a huge untapped home appliances market; currently only 29% houses own a refrigerator, 11% own a washing machine and 6% own a computer or a laptop.
Kitchen Appliances recorded growth of over 13% CAGR from 2011-16 and projected to reach over US$ 7 bn by 2022 with categories like Hobs, Blenders, Microwaves, Chimneys, Electric Kettles, Cookers, etc., recording double digit value growth.
India has the world’s 3rd largest television industry, which is expected to grow by 12.97% to US$ 11.78 billion in 2018 from US$ 9.23 billion in 2016
The market size for refrigerators was around US$ 3.02 billion in 2017 and is expected to reach US$ 5.34 billion by 2022 while the market size for air conditioning was around US$ 2.76 billion in 2017
India’s robust economic growth and rising household incomes are expected to increase consumer spending to US$ 4 trillion by 2025
