New York, June 30, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “India Consumer Electronics and Appliances Market, By Type, By Application, By Distribution Channel, By Region, By Top 3 Leading States, Competition, Forecast & Opportunities, 2017-2027F” – https://www.reportlinker.com/p06289850/?utm_source=GNW
)), By Region, By Top 3 Leading States (in each region), Competition, Forecast & Opportunities, 2017-2027F
India consumer electronics and appliances market was valued at USD78.95 billion in 2021 and is expected to grow at an impressive CAGR of 12.78% in the forecast period, 2023-2027, to reach USD160.03 billion by 2027. Consumers are becoming more aware of the benefits of using consumer electronics and appliances and are investing in the purchase of premium appliances. The growing residential sector and favorable government policies are the primary drivers for the India consumer electronics and appliances market. Also, the high internet penetration and proliferation of smart devices and integration of smart technologies like the internet of things and artificial intelligence are expected to create new growth avenues for the India consumer electronics and appliances market in the forecast period.
The income level of middle-class families is rising at a rapid rate, and they are able to spend more on quality lifestyles and equipment to live a comfortable life.Companies are working on the development of high-performing and easy-to-use devices to meet the growing consumer requirements.
Market players are trying to reach remote locations by investing in developing an efficient supply chain and inventory and adopting e-commerce websites to sell their products. An increase in the utilization of consumer electronics and appliances and the availability of a wide portfolio of products are expected to fuel the demand for India consumer electronics and appliances market in the forecast period.
The India consumer electronics and appliances market is divided into type, application, distribution channel, regional distribution, and competitive landscape.Based on type, the market is divided into audio & visual electronics, home appliances, kitchen appliances, and personal care devices.
The Audio & visual electronics segment dominated the market in 2021 and held 85.02% of the total market share. The availability of quality audio and visual electronic accessories at competitive prices and the growing expenditure capacity of consumers are driving the segment demand. Adoption of attractive marketing strategies by the market players and online sales channels is expected to fuel the sales of consumer electronics and appliances across the country.
The major market players operating in India consumer electronics and appliances market are BBK Group (Oppo, Vivo, Realme, OnePlus), Samsung India Electronics Private Limited, Xiaomi Technology India Private Limited, Apple India Private Limited, LG Electronics India Pvt. Ltd, Whirlpool of India Ltd., Panasonic India Private Limited, Sony India Private Limited, Crompton Greaves Consumer Electricals Limited, Godrej & Boyce Mfg Co Ltd., Bajaj Electricals Limited, and IFB INDUSTRIES LTD.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F–2027F
Objective of the Study:
• To analyze the historical growth in the market size of India consumer electronics and appliances market from 2017 to 2021.
• To estimate and forecast the market size of India consumer electronics and appliances market from 2022E to 2027F and growth rate until 2027F.
• To classify and forecast India consumer electronics and appliances market based on type, application, distribution channel, regional distribution, and competitive landscape.
• To identify dominant region or segment in the India consumer electronics and appliances market.
• To identify drivers and challenges for India consumer electronics and …….