Television Market in India LED, LCD, HD, UHD in 2020
Television is one of the fastest-growing consumer durable goods in India. The country comprised of more than 200 Mn potential TV households by 2019; however, the market is largely under-penetrated. The fast-changing technological environment, reduction in the cost of production, and rise in consumer affordability has propelled the industry growth over the years. However, the increased use of substitute devices and declining profitability are impending the growth of the market.
Open cell panel is considered the most crucial component in LED TV manufacturing (open cell panels comprise of 65%-70% of the television production cost). The lowering of import duty on open-cell LED TV panel from 5% to zero has significantly reduced the prices of TV sets and further propelled industry growth.
Further, to promote local manufacturing under the Atmanirbhar Bharat Abhiyan (Self-reliant India mission); the Government of India has restricted the import of fully-built television sets. The move would result in backward integration with increased investment in improved assembly lines and components production.
The flat panel television (LED, LCD, HD, and UHD) market in India was valued at INR 795.71 Bn in 2019 and is expected to reach INR 2,044.29 Bn by 2025, expanding at a compound annual growth rate (CAGR) of ~15.7% during the 2020-2025 period.
Segment insights:
The flat panel television market in India can be segmented into smart TV and non-smart TV. Smart TV sets account for a significant share (of more than 75%) of the overall television market. Foreign players like Xiaomi, OnePlus, and Realme have disrupted the smart TV segment with the launch of its range of budget-friendly products. Domestic players are rapidly reducing prices to battle the fierce industry competition. Xiaomi is a leader in the smart TV segment with a share of ~29.50%, followed by LG, Samsung, and Sony.
In terms of display size, television sets between 32 inch and 43 inch account for notable sales percentage, since they are affordable to the larger section of the society.
However, the onset of COVID-19, the sale of larger screen sizes (43 inches and above) outperformed the 32 inches TV sets, which was the bread-and-butter of the industry.
Further, the reduction of Goods and Service Tax (GST) rates has truncated the prices of television sets in India.
Impact of COVID-19
Businesses worldwide have suffered immensely due to the COVID-19 pandemic. However, the virus outbreak and the ensuing lockdown have revived the Indian television market after two years of declining sales. As of August 2020, large screen television models (55-inches and above) reported a 30%-40% sales growth as compared to pre-COVID period. Moreover, TV manufacturing companies have witnessed spiked demand for smart televisions that can be directly connected to streaming devices. Amid the crisis and disturbed relations with China, localization is the key to success for the Indian television industry.
Companies covered:
Open cell panel is considered the most crucial component in LED TV manufacturing (open cell panels comprise of 65%-70% of the television production cost). The lowering of import duty on open-cell LED TV panel from 5% to zero has significantly reduced the prices of TV sets and further propelled industry growth.
Further, to promote local manufacturing under the Atmanirbhar Bharat Abhiyan (Self-reliant India mission); the Government of India has restricted the import of fully-built television sets. The move would result in backward integration with increased investment in improved assembly lines and components production.
The flat panel television (LED, LCD, HD, and UHD) market in India was valued at INR 795.71 Bn in 2019 and is expected to reach INR 2,044.29 Bn by 2025, expanding at a compound annual growth rate (CAGR) of ~15.7% during the 2020-2025 period.
Segment insights:
The flat panel television market in India can be segmented into smart TV and non-smart TV. Smart TV sets account for a significant share (of more than 75%) of the overall television market. Foreign players like Xiaomi, OnePlus, and Realme have disrupted the smart TV segment with the launch of its range of budget-friendly products. Domestic players are rapidly reducing prices to battle the fierce industry competition. Xiaomi is a leader in the smart TV segment with a share of ~29.50%, followed by LG, Samsung, and Sony.
In terms of display size, television sets between 32 inch and 43 inch account for notable sales percentage, since they are affordable to the larger section of the society.
However, the onset of COVID-19, the sale of larger screen sizes (43 inches and above) outperformed the 32 inches TV sets, which was the bread-and-butter of the industry.
Further, the reduction of Goods and Service Tax (GST) rates has truncated the prices of television sets in India.
Impact of COVID-19
Businesses worldwide have suffered immensely due to the COVID-19 pandemic. However, the virus outbreak and the ensuing lockdown have revived the Indian television market after two years of declining sales. As of August 2020, large screen television models (55-inches and above) reported a 30%-40% sales growth as compared to pre-COVID period. Moreover, TV manufacturing companies have witnessed spiked demand for smart televisions that can be directly connected to streaming devices. Amid the crisis and disturbed relations with China, localization is the key to success for the Indian television industry.
Companies covered:
- BPL Limited
- Intex Technologies (India) Limited
- Hitachi India Private Limited
- LG Electronics India Private Limited
- Panasonic India Private Limited
- Philips India Limited
- Samsung Electronics India Private Limited
- Sony India Private Limited
- TCL India
- Xiaomi Technology India Private Limited
CHAPTER 1: EXECUTIVE SUMMARY
CHAPTER 2: SOCIO-ECONOMIC INDICATORS
CHAPTER 3: INTRODUCTION
3.1. Market definition and structure
CHAPTER 4: MARKET OVERVIEW
4.1. Market size and growth forecast (2018-2025) – Based on value
4.2. Market size and growth forecast (2018-2025) – Based on volume
4.3. Impact of 'Atmanirbhar Bharat Abhiyan' or 'Self-reliant India Mission'
CHAPTER 5: MARKET SEGMENTATION
5.1. Smart and non-smart television split
5.2. Smart TV segments – Based on screen display size
5.3. Smart TV segments – Based on price
CHAPTER 6: COVID-10 IMPACT ANALYSIS
6.1. COVID-19 impact analysis
CHAPTER 7: TRADE ANALYSIS
7.1. Export
?Value-wise
?Volume-wise
?Country-wise
7.2 Import
?Value-wise
?Volume-wise
?Country-wise
CHAPTER 8: MARKET TREND ANALYSIS
8.1. Market trend analysis
CHAPTER 9: MARKET INFLUENCERS
9.1. Market drivers
9.2. Market challengers
CHAPTER 10: COMPETITIVE LANDSCAPE
10.1. Competitive landscape analysis
10.2. BPL Limited
?Company information
?Business description
?Products/services
?Key people
?Financial snapshot
?Key ratios
?Key financial performance indicators
?Key business segments
Key geographic segments
Note: Financial data and segment-wise data is available
for public companies only
10.3. Intex Technologies (India) Limited
10.4. Hitachi India Private Limited
10.5. LG Electronics India Private Limited
10.6. Panasonic India Private Limited
10.7. Philips India Limited
10.8. Samsung Electronics India Private Limited
10.9. Sony India Private Limited
10.10. TCL India
10.11. Xiaomi Technology India Private Limit
CHAPTER 11: EMERGING START-UPS
11.1. Emerging start-ups
CHAPTER 12: RECENT DEVELOPMENT
12.1. Recent development
CHAPTER 13: APPENDIX
13.1. Research methodology
13.2. About Netscribes
13.3. Disclaimer
CHAPTER 2: SOCIO-ECONOMIC INDICATORS
CHAPTER 3: INTRODUCTION
3.1. Market definition and structure
CHAPTER 4: MARKET OVERVIEW
4.1. Market size and growth forecast (2018-2025) – Based on value
4.2. Market size and growth forecast (2018-2025) – Based on volume
4.3. Impact of 'Atmanirbhar Bharat Abhiyan' or 'Self-reliant India Mission'
CHAPTER 5: MARKET SEGMENTATION
5.1. Smart and non-smart television split
5.2. Smart TV segments – Based on screen display size
5.3. Smart TV segments – Based on price
CHAPTER 6: COVID-10 IMPACT ANALYSIS
6.1. COVID-19 impact analysis
CHAPTER 7: TRADE ANALYSIS
7.1. Export
?Value-wise
?Volume-wise
?Country-wise
7.2 Import
?Value-wise
?Volume-wise
?Country-wise
CHAPTER 8: MARKET TREND ANALYSIS
8.1. Market trend analysis
CHAPTER 9: MARKET INFLUENCERS
9.1. Market drivers
9.2. Market challengers
CHAPTER 10: COMPETITIVE LANDSCAPE
10.1. Competitive landscape analysis
10.2. BPL Limited
?Company information
?Business description
?Products/services
?Key people
?Financial snapshot
?Key ratios
?Key financial performance indicators
?Key business segments
Key geographic segments
Note: Financial data and segment-wise data is available
for public companies only
10.3. Intex Technologies (India) Limited
10.4. Hitachi India Private Limited
10.5. LG Electronics India Private Limited
10.6. Panasonic India Private Limited
10.7. Philips India Limited
10.8. Samsung Electronics India Private Limited
10.9. Sony India Private Limited
10.10. TCL India
10.11. Xiaomi Technology India Private Limit
CHAPTER 11: EMERGING START-UPS
11.1. Emerging start-ups
CHAPTER 12: RECENT DEVELOPMENT
12.1. Recent development
CHAPTER 13: APPENDIX
13.1. Research methodology
13.2. About Netscribes
13.3. Disclaimer
