India market info
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.
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.
The size of home appliances and consumer durables market was US $ 15.5 billion in 2017.
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 billion 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
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