Home appliance refers to a piece of machinery, typically electrically powered, used in particular in the household, or for the production of domestic tasks such as preparing, washing, or food storage. Small devices are semi-handheld or handheld equipment typically found on platforms such as counter-tops and tabletops. Whereas, generally speaking, DIY appliances are fitted with unique connections such as electrical, gas, plumbing, and ventilation arrangements, restricting the mobility of these appliances across the house.
The India Home and DIY Appliances Market size was valued at USD XXX billion in 2019 and projected to reach USD XXX billion by 2027. It grew at a CAGR of XX% during the forecast period, 2020-2027, owing to rise in disposable income across the region. Rising awareness of home and DIY appliances advantages in the developing economies and increasing urbanization is expected to propel the home and DIY appliance market. In addition, global policymakers are focused on curbing electricity use through recent legislative and market advertising initiatives that are supposed to increase demand for energy-efficient technology goods, which projected to fuel the Indian market at a substantial growth rate. Furthermore, the pledge of additional comfort when using such tools, the time saved while using them continuously, and the decrease in energy and power achieved are some of the significant factors leading to the rising popularity of home and DIY appliances.
However, the high cost of appliances is estimated to create an obstacle in the growth of the Indian market. Additionally, counterfeit brands’ availability is projected to challenge the growth of the market at a considerable growth rate.
The rising urbanization is likely to fuel the Indian home and DIY appliances market. Urbanization is not a side-effect of global development; it is an integral part of the process. Industrialization is the time of social and economic change that transitions a human being into an industrial civilization from an agricultural economy. Indian cities add up to about 2/3 of economic growth, host an increasing proportion of the population, and are the primary beneficiaries of FDI and the innovation and technology makers. India has approximately USD 1.6 trillion of household consumption in 2018. From a market standpoint, the value of manufacturing is not restricted to its share of GDP. With cities producing more than 80% of global GDP, urbanization will lead to economic development if well controlled through rising efficiency. The steady economic progress and the advancement of living conditions, lead to the continuous growth of energy demand with the advance in urbanization & industrialization. The residential sector’s energy use is more reliant on the rise in the quantity and duration of home appliances. Thus, the rapid urbanization and industrialization projected to boost the market at a considerable growth rate.
The rise in technological advancement is estimated to boost the market at a significant growth rate. Several emerging innovations in homes revolutionized domestic life by freeing up energy from routine housework. The relevance and utility of technology tend to assess R & D’s need to boost device energy quality in terms of energy consumption, expense, and sophistication. A rising upper-middle class, young millennials, increasing workforce, and ever-evolving customer lifestyle are responsible for improving India’s home and DIY appliances market. In addition, many manufacturing sectors and particularly the household appliances industry, have taken over from the ‘Make in India’ surge. Industries unite behind goods that are suited for the Indian lifestyle, holding the same energy running, which expected to boost the market. Thus, technological upgradation, coupled with changing lifestyles, is projected to fuel the market across the region.
Recently, the outbreak of COVID-19 has vigorously affected the healthcare system of developing and developed economies. The health issue has an unprecedented effect on companies around various industries. COVID-19 impact on the world economy down to 1.9% unfavorable in 2020 relative to 2019.
However, in the Pre-Pandemic days, the personal care sector in India had been on a fast growth trajectory. The industry increased by 12% to 14%. Men’s grooming industry in India saw a 12.3% in 2019 compared with 2018. Industries’ pent-up demand is enormous, encouraging customers not to strike from their itinerary of purchasing durables. “In northern India, the heatwave has been rising. Residents ought to combat the heatwave with Cooler devices, such as air conditioners and refrigerators. In recent months, Amazon and Flipkart’s e-commerce marketplaces have seen demand increase for certain grooming goods relative to the Pre-Coronavirus days. Philips, which saw a 45-50% rise in demand for its male and female grooming goods in May, which estimated to spread development through the networks from their itinerary of purchasing durables.
Based on the type, the Indian home & DIY appliances market segregated into by Major Appliances, by Small Appliances, and by DIY Appliances. In addition, based on the major appliances segment, the market is bifurcated into Refrigerators, Washing Machines, Dishwashing Machines, Air Conditioners, Television, Freezers, and Microwaves. Moreover, based on small appliances, the market is segmented into Coffee Machine, Vacuum Cleaner, Grills and Roasters, Small Kitchen Appliances, Air Purifiers, Water Purifiers, and Irons. Furthermore, based on DIY appliances, the market is divided into Trimmer, Epilators, Hair Dryers, Massagers, and Others. The major appliances segment is estimated to dominate the Indian home & DIY appliances market over the forecasted period of 2020-2027. In the major appliances segment, the refrigerator market holds the largest share in the market due to the rising disposable income and smart and energy-efficient refrigeration units’ accessibility. Additionally, the rise in the number of fast-food restaurants is projected to support the market sector’s development over the forecast period.
Based on the distribution channel, the India home & DIY appliances market segmented into Offline and Online. Based on the offline segment, the market is divided into Supermarkets/Hypermarkets, Specialty Stores, and Others. The online segment is estimated to have the fastest growth rate over the forecasted period by 2027 across the region due to high penetration of the internet coupled with the smartphone. In addition, the growth in technological advancements is projected to further fuel the market at a significant growth rate.
Based on Geography, the India home & DIY appliances market segmented into North India, South India, West India, and East India. The north region segment is projected to dominate the market during the forecasted period of 2020-2027 across the region owing to the growth in several young populations living in metro cities coupled with the rising disposable income.
However, the South region segment is estimated to have the fastest growth rate over the forecasted period by 2027. This due to rapid urbanization and industrialization.
Companies such as Haier, Morphy Richards Limited, Midea, GE, SAMSUNG, LG, BSH, Electrolux, Philips, Gree, TCL, Changhong, Hisence, Panasonic, SKYWORTH, Meling, SONY, Robert Bosch GmbH, Whirlpool, and Qingdao Haier Co are the key players in the India Home & DIY Appliances Market.
By Type
By Distribution Channel
By Region
India Home & DIY Appliances Market