India Consumer Electronics Market Size, Share & Trends Analysis Report By Product (Mobile Phones, Televisions, Refrigerators, Digital Cameras, Air Conditioners, Washing Machines), And Segment Forecasts, 2023 - 2030
This report can be delivered to the clients within 3 Business Days
India Consumer Electronics Market Growth & Trends
The India consumer electronics market size is expected to reach USD 124.94 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.8% from 2023 to 2030. Rising disposable income, rapid urbanization, and the introduction of novel products in the market are expected to further contribute to the market growth.
The demand for flat refrigerators, washing machines, and TVs is rising with a decline in penetration of products vis-?-vis global levels, urbanization, and increasing disposable income of consumers. There has been an increase in imports from regions such as China and South-East Asia, considered to be low-cost regions, owing to certain free-trade agreements and the availability of low-cost products, in relation to costs about local manufacturing. To effectively suffice the rising local demand and export demand to the neighboring regions and the Middle East and Africa, global market participants are planning to expand their local manufacturing in India, thus making it an export hub.
However, presently the Indian manufacturers are facing challenges such as an inverted duty structure due to free trade agreements, which makes Indian manufacturing uncompetitive for white goods, including ACs, refrigerators, and washing machines. The non-applicability of Modified Special Packages Scheme (MSIPS) in several consumer durables; hiked excess duties, under-developed and insufficient local supplier base; and high-cost of manufacturing and capital costs owing to frequently changing energy efficiency requirements also contribute to this scenario.
The drivers contributing to the growth of this market relate to increasing levels of income and urbanization, improved affordability of products, product innovation, the availability of newer variants of products, easy consumer financing, and a rise in the share of organized retail. Increasing local value addition levels and growing investment will observe a manifold jump as an increasing number of OEMs are foreseeing the localization of their products in India.
India Consumer Electronics Market Report Highlights
India Consumer Electronics Market Growth & Trends
The India consumer electronics market size is expected to reach USD 124.94 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.8% from 2023 to 2030. Rising disposable income, rapid urbanization, and the introduction of novel products in the market are expected to further contribute to the market growth.
The demand for flat refrigerators, washing machines, and TVs is rising with a decline in penetration of products vis-?-vis global levels, urbanization, and increasing disposable income of consumers. There has been an increase in imports from regions such as China and South-East Asia, considered to be low-cost regions, owing to certain free-trade agreements and the availability of low-cost products, in relation to costs about local manufacturing. To effectively suffice the rising local demand and export demand to the neighboring regions and the Middle East and Africa, global market participants are planning to expand their local manufacturing in India, thus making it an export hub.
However, presently the Indian manufacturers are facing challenges such as an inverted duty structure due to free trade agreements, which makes Indian manufacturing uncompetitive for white goods, including ACs, refrigerators, and washing machines. The non-applicability of Modified Special Packages Scheme (MSIPS) in several consumer durables; hiked excess duties, under-developed and insufficient local supplier base; and high-cost of manufacturing and capital costs owing to frequently changing energy efficiency requirements also contribute to this scenario.
The drivers contributing to the growth of this market relate to increasing levels of income and urbanization, improved affordability of products, product innovation, the availability of newer variants of products, easy consumer financing, and a rise in the share of organized retail. Increasing local value addition levels and growing investment will observe a manifold jump as an increasing number of OEMs are foreseeing the localization of their products in India.
India Consumer Electronics Market Report Highlights
- The televisions product segment accounted for the second-largest revenue share in 2022. The increasing per capita income, burgeoning middle class, and increasing standard of living in the country are leading to a rise in demand for television sets. Promotion and advertisement activities carried out by the leading industry participants such as Samsung have positively augmented the market growth, and this trend is expected to continue over the forecast period
- The air conditioners product segment is expected to register a significant CAGR from 2023 to 2030. The increased spending power of the average Indian consumer, together with the strengthening of the residential sector in India, will contribute to an increase in demand for air conditioners in the country
- The digital cameras product segment is projected to register the fastest CAGR of 7.8% from 2022 to 2030. The demand in India has been stimulated by its rising popularity among consumers due to its capacity to offer high-quality images. In addition, rising interest in wildlife, fashion, and wedding photography has fueled the expansion of the digital camera market
CHAPTER 1. METHODOLOGY AND SCOPE
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Market Outlook
2.2. Product Outlook
2.3. Competition Outlook
CHAPTER 3. INDIA CONSUMER ELECTRONICS MARKET VARIABLES, TRENDS & SCOPE
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.2.1. Raw Material Outlook
3.2.2. Manufacturing and Technology Outlook
3.2.3. Profit Margin Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Market Opportunities
3.3.4. Market Challenges
3.4. Industry Analysis - Porter’s Five Forces Analysis
3.5. Market Entry Strategies
CHAPTER 4. CONSUMER BEHAVIOR ANALYSIS
4.1. Demographics Analysis
4.2. Consumer Trends and Preferences
4.3. Factors Affecting Buying Decision
4.4. Consumer Product Adoption
4.5. Key Observations & Findings
CHAPTER 5. INDIA CONSUMER ELECTRONICS MARKET: PRODUCT ESTIMATES & TREND ANALYSIS
5.1. Product Movement Analysis & Market Share, 2022 & 2030
5.2. Smartphones
5.2.1. India smartphones market estimates and forecast, 2017 - 2030 (USD Million)
5.3. TV
5.3.1. India TV market estimates and forecast, 2017 - 2030 (USD Million)
5.4. Refrigerators
5.4.1. India refrigerators market estimates and forecast, 2017 - 2030 (USD Million)
5.5. Washing Machines
5.5.1. India washing machines market estimates and forecast, 2017 - 2030 (USD Million)
5.6. Digital Cameras
5.6.1. India digital cameras market estimates and forecast, 2017 - 2030 (USD Million)
5.7. Air Conditioner
5.7.1. India air conditioner market estimates and forecast, 2017 - 2030 (USD Million)
5.8. Other
5.8.1. India other consumer electronics market estimates and forecast, 2017 - 2030 (USD Million)
CHAPTER 6. COMPETITIVE ANALYSIS
6.1. Recent developments & impact analysis, by key market participants
6.2. Company Categorization
6.3. Participant’s Overview
6.4. Financial Performance
6.5. Product Benchmarking
6.6. Company Market Share Analysis, 2022 (%)
6.7. Company Heat Map Analysis
6.8. Strategy Mapping
6.9. List of key companies analyzed in this section include:
6.9.1. Samsung Electronics Co., Ltd.
6.9.2. LG Electronics, Inc.
6.9.3. Godrej Appliances
6.9.4. Sony Corporation
6.9.5. Mitsubishi Electric Corporation
6.9.6. Vijay Sales
6.9.7. Panasonic Corporation
6.9.8. Haier Consumer Electronics Group
6.9.9. Bajaj Electricals Ltd.
6.9.10. Hitachi Ltd.
6.9.11. Toshiba Corporation
6.9.12. Whirlpool Corporation
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Market Outlook
2.2. Product Outlook
2.3. Competition Outlook
CHAPTER 3. INDIA CONSUMER ELECTRONICS MARKET VARIABLES, TRENDS & SCOPE
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.2.1. Raw Material Outlook
3.2.2. Manufacturing and Technology Outlook
3.2.3. Profit Margin Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Market Opportunities
3.3.4. Market Challenges
3.4. Industry Analysis - Porter’s Five Forces Analysis
3.5. Market Entry Strategies
CHAPTER 4. CONSUMER BEHAVIOR ANALYSIS
4.1. Demographics Analysis
4.2. Consumer Trends and Preferences
4.3. Factors Affecting Buying Decision
4.4. Consumer Product Adoption
4.5. Key Observations & Findings
CHAPTER 5. INDIA CONSUMER ELECTRONICS MARKET: PRODUCT ESTIMATES & TREND ANALYSIS
5.1. Product Movement Analysis & Market Share, 2022 & 2030
5.2. Smartphones
5.2.1. India smartphones market estimates and forecast, 2017 - 2030 (USD Million)
5.3. TV
5.3.1. India TV market estimates and forecast, 2017 - 2030 (USD Million)
5.4. Refrigerators
5.4.1. India refrigerators market estimates and forecast, 2017 - 2030 (USD Million)
5.5. Washing Machines
5.5.1. India washing machines market estimates and forecast, 2017 - 2030 (USD Million)
5.6. Digital Cameras
5.6.1. India digital cameras market estimates and forecast, 2017 - 2030 (USD Million)
5.7. Air Conditioner
5.7.1. India air conditioner market estimates and forecast, 2017 - 2030 (USD Million)
5.8. Other
5.8.1. India other consumer electronics market estimates and forecast, 2017 - 2030 (USD Million)
CHAPTER 6. COMPETITIVE ANALYSIS
6.1. Recent developments & impact analysis, by key market participants
6.2. Company Categorization
6.3. Participant’s Overview
6.4. Financial Performance
6.5. Product Benchmarking
6.6. Company Market Share Analysis, 2022 (%)
6.7. Company Heat Map Analysis
6.8. Strategy Mapping
6.9. List of key companies analyzed in this section include:
6.9.1. Samsung Electronics Co., Ltd.
6.9.2. LG Electronics, Inc.
6.9.3. Godrej Appliances
6.9.4. Sony Corporation
6.9.5. Mitsubishi Electric Corporation
6.9.6. Vijay Sales
6.9.7. Panasonic Corporation
6.9.8. Haier Consumer Electronics Group
6.9.9. Bajaj Electricals Ltd.
6.9.10. Hitachi Ltd.
6.9.11. Toshiba Corporation
6.9.12. Whirlpool Corporation
LIST OF TABLES
Table 1 India Consumer Electronics Market - Key Market Driver Analysis
Table 2 India Consumer Electronics Market - Key Market Restraint Analysis
Table 3 India consumer electronics market estimates & forecast, by product (USD Million)
Table 4 Recent developments & impact analysis, by key market participants
Table 5 Company market share, 2022
Table 6 Company heat map analysis
Table 1 India Consumer Electronics Market - Key Market Driver Analysis
Table 2 India Consumer Electronics Market - Key Market Restraint Analysis
Table 3 India consumer electronics market estimates & forecast, by product (USD Million)
Table 4 Recent developments & impact analysis, by key market participants
Table 5 Company market share, 2022
Table 6 Company heat map analysis
LIST OF FIGURES
Fig. 1 India Consumer Electronics market segmentation
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Primary research approaches
Fig. 5 Primary research process
Fig. 6 Market snapshot
Fig. 7 Segment snapshot
Fig. 8 Competitive landscape Snapshot
Fig. 9 India consumer electronics market size, 2017 to 2030 (USD Million)
Fig. 10 India consumer electronics market: Value chain analysis
Fig. 11 India consumer electronics market: Profit-margin analysis
Fig. 12 India consumer electronics market: Dynamics
Fig. 13 India consumer electronics market: Porter’s five forces analysis
Fig. 14 Factors influencing buying decisions for consumer electronics
Fig. 15 India consumer electronics market, by product: Key takeaways
Fig. 16 India consumer electronics market, by product: Market share, 2022 & 2030
Fig. 17 India smartphones market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 18 India TV market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 19 India refrigerators market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 20 India washing machines market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 21 India digital cameras market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 22 India air conditioners market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 23 India other consumer electronics market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 24 Company market share analysis, 2022
Fig. 25 Strategic framework of India consumer electronics market
Fig. 1 India Consumer Electronics market segmentation
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Primary research approaches
Fig. 5 Primary research process
Fig. 6 Market snapshot
Fig. 7 Segment snapshot
Fig. 8 Competitive landscape Snapshot
Fig. 9 India consumer electronics market size, 2017 to 2030 (USD Million)
Fig. 10 India consumer electronics market: Value chain analysis
Fig. 11 India consumer electronics market: Profit-margin analysis
Fig. 12 India consumer electronics market: Dynamics
Fig. 13 India consumer electronics market: Porter’s five forces analysis
Fig. 14 Factors influencing buying decisions for consumer electronics
Fig. 15 India consumer electronics market, by product: Key takeaways
Fig. 16 India consumer electronics market, by product: Market share, 2022 & 2030
Fig. 17 India smartphones market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 18 India TV market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 19 India refrigerators market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 20 India washing machines market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 21 India digital cameras market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 22 India air conditioners market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 23 India other consumer electronics market estimates & forecasts, 2017 - 2030 (USD Million)
Fig. 24 Company market share analysis, 2022
Fig. 25 Strategic framework of India consumer electronics market
