The Indian consumer durables market is broadly segregated into urban and rural markets and is attracting marketers from across the world. The sector comprises a huge middle class, a relatively large affluent class, and a small poor class. The sector includes consumer electricals such as fans, kitchen and cooking appliances, lighting devices, as well as white goods such as washing machines, televisions, refrigerators, and air conditioners.
The market share in the consumer durables industry is moving from the unorganised to the organised sector. According to estimates, 30% of the total market is still unorganised, which provides listed Indian players with a significant opportunity to further increase their market share going forward. Artificial intelligence and manufacturing automation will be important future trends as consumer awareness increases regarding technology advancements and their applications across multiple sectors. In order to increase the production efficiency of various consumer durables, Industry 4.0 will stimulate investments in R&D, technology infrastructure, and manufacturing processes.
Refrigerator market in India is valued at Rs. 46,732 crore (US$ 5.4 billion) in 2024 and is expected to reach Rs. 1,04,713 crore (US$ 12.1 billion) by 2033 at a CAGR of 9.37%.
Global corporations view India as one of the key markets from where future growth is likely to emerge.
The growth in India’s consumer market would be primarily driven by a favorable population composition and increasing disposable income. During FY25 (April-December), electronics exports reached Rs. 2,25,869 crore (US$ 26.1 billion). With robust growth, India aims to achieve electronics manufacturing worth US$ 300 billion in electronics exports of US$ 120 billion by FY26.
(Source: https://www.ibef.org/industry/indian-consumer-market)