Cheap Consumer Durables Market in India

Thursday, October 6, 2011

Cheap Consumer Durables Market in India

Consumer Durables Market in India

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Overview : Indian consumer durables market used to be dominated by a few domestic players like Godrej, Allwyn, Kelvinator, and Voltas. But post-liberalization many foreign companies have entered into India, dethroning the Indian players and dominating the market. The major categories in the market are CTVs, refrigerators, air-conditioners and washing machines.

India being the second fastest growing economy with a huge consumer class has resulted in consumer durables as one of the fastest growing industries in India. LG and Samsung, the two Korean companies have been maintaining the lead in the industry with LG being the leader in almost all the categories.

The rural market is growing faster than the urban markets, although the penetration level in rural area is much lower. The CTV segment is expected to the largest contributing segment to the overall growth of the industry. The rising income levels, double-income families and increasing consumer awareness are the main growth drivers of this industry.

This report highlights the significance this industry has for the Indian economy, throwing light on the pre and post liberalization scenario. It discusses the important segments of this industry and the growth patterns, trends and the demand drivers. The report also profiles the key players of this industry, with a discussion of their business strategies.