India Refrigerator Market Size Share, Growth Insights, Competitive Landscape, Revenue, Recent Trends, SWOT Analysis, and Forecast 2022-2027 – This Is Ardee

2022-07-20 07:28:30 By : Ms. Erica Zhang

New York (US) –  The India Refrigerator market held a market value of USD 4,004.7 Million in 2020 and is estimated to reach USD 6,909.9 Million by the year 2027. The market is expected to register a growth rate of 8.1% over the projected period. The number of units sold in 2022 was around 12,539.5 thousand.

In this report, market players in this field will receive insights regarding COVID-19’s impact post-COVID-19, which will provide a useful framework for evaluating strategies. The COVID-19 has affected a number of manufacturing operations and supply chains worldwide. As a result, the economy has been experiencing a recession and high inflation rates. Furthermore, the pandemic disrupted a number of industries’ international movements. Due to the labor shortage and the lack of logistics movement, the whole sector faced sustained challenges. Lockdowns have caused severe financial losses to end-user industries.

Request To Download Sample of This Strategic Report: –

The market is witnessing significant growth owing to the factors such as increasing urbanization in India coupled with electrification supporting the expansion of demand. Furthermore, widespread usage in various industries, such as medical and food industry, among others, is also expected to boost the market growth. The market is expected to be negatively influenced by emission of harmful gases and refrigerants.

In India, the demand for refrigerators is more in the urban areas as compared to the rural areas, as the consumption pattern of food in urban residents is different. Furthermore, demand for refrigerators is also increasing owing to the rising disposable income, environmental changes, technological advancements, and rapid urbanization. Rapid lifestyle changes and growing urban population are also anticipated to fuel the market growth.

The India Refrigerator market is segmented into model type, retail format, capacity, technology, and end user.

Download Sample Report, SPECIAL OFFER (Avail an Up-to 30% discount on this report-

The top freezer segment is expected to hold the largest market share owing to its features such as having combined freezer and shelf size in a single unit, which avoids the need to buy a separate freezer. The French door segment is anticipated to witness the fastest growth rate of around 9.1% owing to their increasing demand for storing frozen food products. The merchandizers segment is estimated to surpass a market volume of more than 140 thousand units by 2024.

The offline segment is expected to account for the largest value as well as volume share owing to high penetration of offline stores in the Indian market. Within the online segment, the brand store segment is estimated to account for a market volume of about 140 thousand units by 2024.

The 200 – 499 L segment is anticipated to hold the largest share in terms of revenue as well as the number of units sold. This is because of its rising usage in household uses. The 500 -700 L segment is expected to witness the fastest growth rate of around 8.4% owing to

The conventional (direct cool) segment is expected to hold the largest market share owing to its inexpensive nature as compared to the other segment. The segment is also estimated to witness the largest number of units sold. The smart (frost free) segment is also anticipated to witness significant growth owing to rising adoption of technologically advanced products.

The residential segment is anticipated to hold the dominant value and volume share owing to increasing demand for refrigerators in urban households in India. Within the commercials (HoReCa) segment, the hotels segment is expected to witness a market volume size of around 274.6 thousand units by 2026.

By region, the India Refrigerator market is divided into North India, South India, East India, and West India.

The South India region is expected to hold the largest market share owing to presence of many players in the region. The region consists of Tamil Nadu, Kerala, Karnataka, Telangana, and Andhra Pradesh. Karnataka is expected to witness a growth rate of about 8.3%. North India consists of states such as Uttar Pradesh, Rajasthan, Delhi, Punjab, Himachal Pradesh, Jammu & Kashmir, and Haryana. Punjab is expected to account for a market size of around USD 303.5 million by 2027.

The East India region is expected to grow at the fastest rate of 8.6% and consists of West Bengal, Bihar, Jharkhand, Orissa, Assam, and Rest of East India. West India consists of Gujarat, Goa, Madhya Pradesh, Chhattisgarh, and Maharashtra.

Competitive Landscape: Local players operating in the India Refrigerator market include Blue Star Limited, Robert Bosch GmbH, Croma, Godrej Group, Tropicool India, Voltas, Inc., Electrolux AB, Samsung Electronics Co., Ltd., LG Electronics Inc., Whirlpool Corp., Liebherr-International Deutschland GmbH, Haier Group Corp, Panasonic Corp., and Hitachi Ltd, among others.

Major 5 players in the market hold approximately 90% of the market share. These market players are investing in product launches, collaborations, mergers & acquisitions, and expansions to create a competitive edge in the market. For instance, in February 2021, Blue Star Limited expanded its commercial refrigeration footprint by expanding its application areas in various industries such as agriculture, healthcare & pharmaceuticals, dairy, processed foods, ice-cream, fast food chains, restaurants, hotels, retail outlets, and quick service restaurants, among others. The company has a market share of around 60-70% in the healthcare and pharmaceutical segments for product categories such as medical freezers, pharma refrigerators, modular cold rooms, blood bank refrigerators, and ultra-low temperature freezers.

The India Refrigerator market report provides insights on the below pointers:

The India Refrigerator market report answers questions such as:

Request Full Report-

Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.

They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.

Get in touch with us:

Visit our website: