India Washing Machine Industry Assessed by SRI in New Market Research Study Now Available at MarketPublishers.com22 Jul 2015 • by Natalie Aster
LONDON – By 2025, India is expected to become the world’s 5th largest consumer durables market. The consumer durables industry is forecast to grow from USD 6.3 billion in FY 2010 to reach close to USD 12.5 billion in FY 2015, posting a CAGR of 14.8%. Washing machine production in India grew at a CAGR of 3% from FY 2010 to FY 2014, whilst imports increased at a CAGR of 24% during the same period.
The improvements in Indian people’s standards of living have made home washing machines an important consumer good in the domestic market. The altering environmental dynamics, urbanisation and growing income levels are fuelling the growth of the segment, which was once restrained by the high price point.
The presence of different multinational firms has boosted the market’s potential for growth, as these players are focusing on constructing capabilities in the country’s market. The leading global players are gaining on the local players that are struggling to comply with the technological innovations. Players are currently concentrating on enhancing their product offerings at different price points to equip customers with affordable varieties.
New research report “A Study of the Indian Washing Machine Market 2015” elaborated by Smart Research Insights (SRI) presents an all-round guide to the Indian market for washing machines, providing the historical and actual market performance as well as speculating on the market’s future prospects. The study presents a comprehensive overview of the market, offers statistical data such as market size, production, exports & imports. It casts light on key drivers and challenges, major trends in the domestic washing machine industry. The research publication canvasses the competitive landscape, and reviews the performance and initiatives of the top 6 market participants. The report also limelights the market players’ approach to communication and advertising; as well as contains the latest opinions of industry leaders.
Major companies mentioned in the study are: Whirlpool, Videocon, AB Electrolux, LG Electronics India, IFB and Samsung.
A Study of the Indian Washing Machine Market 2015
Date: July, 2015
Price: US$ 1,000.00
More studies by the publisher can be found at Smart Research Insights page.