Market Size of India Major Home Appliances Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Major Home Appliances Market Analysis
India is undergoing a major change in its economic environment and is growing fast. The Indian major home appliance market is driven by an increase in the use of online sales, electrification of rural areas, rising disposable incomes, and easy access to the credit. The Make in India Program and the upcoming national policy for electronics (NPE) will further bring about major policy changes in the large appliance industry. There is a rise in the ease of doing business in the market, which can escalate the production and consumption in the market further.
There is a huge amount of FDI in the large home appliance sector. Various companies, such as Germany's Bosch, Siemens, Turkey's Arcelik, and domestic brands, such as Godrej and BPL, are planning to invest in manufacturing and use backward integration methods.
Shanghai Hitachi, a joint venture between Hitachi Japan and Shanghai, is also expanding compressor units in Gujarat. Factors, such as high manufacturing costs, high-interest rates of loans from the bank, and Goods and Services Tax on major home appliances purchases might restrain the growth of the market. While a rise in customs duty to reduce carbon emission from appliances is likely drive the large home appliance production in country.
