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India Washing Machine Market Overview, 2022-28

India Washing Machine Market Overview, 2022-28

Bonafide Research 20-10-2022 63 Pages Figures : 19 Tables : 11
Region : Asia-Pacific Category : Consumer Goods & Services Appliances & Equipment

1. TTK Prestige Limited

2. IFB Industries Limited

3. LG Electronics India Private Limited

4. Samsung Electronics Co., Limited

5. Videocon Industries Limited

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In India, the washing machine category is still some distance away from the inflexion point, unlike refrigerators. However, players are trying to influence penetration in the category with many new launches and heavy marketing campaigns. Growing disposable income and easy financing options have led to shortened replacement cycles, whereas the rising influence of modern lifestyle has perceived products such as washing machines as utility items rather than luxury goods. Penetration of washing machines is around 13% in India and is expected to increase in the coming years with sales from rural India. Demand for washing machines goes up during the monsoons, and there is a greater need among urban and metro consumers to upgrade their machines during the coming seasons. According to "India Washing Machine Market Overview, 2022–28", the washing machine market in India is divided into two technology types; one is semi-automatic machines and the other is fully automatic machines. Fully automatic machines have surpassed the sales of semi-automatic ones in the last two years, which indicates that there is a trend of premiumization in the market. LG, Samsung, IFB, Whirlpool, Videocon, and Godrej are the leading players in the washing machine industry in India. The North churns out the majority of revenue in the market, whereas the East is the least penetrated region. Also, demand from urban areas is far greater than from rural areas, where the product is still considered an upper-class phenomenon. Domestic players have turned their focus towards these rural areas as urban markets are clearly dominated by foreign multinationals like LG and Samsung. Apart from this, greater varieties of choice are forcing urban consumers to upgrade their semi-automatic machines to fully automatic ones. The price difference between fully automatic top loaders and semi-automatics has decreased to a great extent, and this is helping brands to pitch aggressively for the former. New and innovative technologically equipped washing machines will continue to become popular in India. There is no shortage of products and the market is already flooded with numerous leading consumer durable brands, presenting a huge variety of models to choose from. Washing machines now range from the traditional large-sized design to the more portable and stylish front-loading designs. Covid-19 Impacts: The market's growth is expected to be hampered by the availability of laundry shops and the expansion of online laundry services. COVID-19 highlighted the importance of major appliances in most houses. Dishwashers, vacuum cleaners, food processors, coffee machines, and personal hygiene devices all jumped to the top of the buying list. The underserved washing machine market was no exception. The washing machine was the rescuer when social separation became the norm, and the part-time maid became a banned entity. Also, during the pandemic, many industries and washing machines have seen minimal growth. As a result of the travel restrictions, the country's trade has suffered. All markets, including the washing machine market, have been affected by the country's mandated lockdown and travel restrictions. Key Product Type • Semi-Automatic Washing Machine • Fully Automatic Washing Machine • Top Load Fully Automatic Washing Machine • Front Load Fully Automatic Washing Machine “India Washing Machine Market Overview, 2022-28” discusses the following aspects of washing machines in India: How it will help solving your strategic decision making process?? The report gives an in-depth understanding of washing machines in India: • India Washing Machine Market Outlook • India Washing Machine Market Size By Value & Forecast • India Washing Machine Market Size By Volume & Forecast • India Washing Machine Segmental Analysis: By Company, By Region, By Technology Type • India Semi-Automatic Washing Machine Market Size By Value & Forecast • India Semi-Automatic Washing Machine Market Size By Volume & Forecast • India Semi-Automatic Washing Machine Segmental Analysis: By Company • India Fully Automatic Washing Machine Market Size By Value & Forecast • India Top Load Washing Machine Market Size By Value & Forecast • India Front Load Washing Machine Market Size By Value & Forecast • India Fully Automatic Washing Machine Market Size By Volume & Forecast • India Top Load Washing Machine Market Size By Volume & Forecast • India Front Load Washing Machine Market Size By Volume & Forecast • India Fully Automatic Washing Machine Segmental Analysis: By Company, By Category • Product Price & Variant Analysis • The key vendors in this market space This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Report Methodology The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various channel partners of washing machines in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.

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