Research and Markets: India Refrigerator Market Outlook, 2021 – Frost Free Refrigerators gaining immense popularity over Direct Cool Refrigerators in India
By Business Wire News
Research and Markets (http://www.researchandmarkets.com/research/55ffdd/india) has announced the addition of the “India Refrigerator Market Outlook, 2021” report to their offering.
According to India Refrigerator Market Outlook 2021, the refrigerator market which is broadly divided into two categories – direct cool and frost free, both segments would continue to be strong for future years however in the long run frost free models will occupy the larger market share. The frost free refrigerator market of India is gaining massive popularity and momentum over traditional refrigerator models. There is a trend for double door refrigerators which start from 200 litre capacity to maximum 500 litres. The demand for refrigerators in India is mainly in urban areas which account for a 75 percent share. Available features, energy star rating, warranty, quality, space, price, cleaning ease functionality and styling are currently major influential factors while purchasing a refrigerator.
The competition between different manufactures in the Indian refrigerator market has changed over time with many players entering and leaving the market. Both LG and Samsung, multinational companies from Korea have managed to capture a combined 50% market share in the refrigeration industry in India. While LG has two refrigerator manufacturing units in India, Samsung has none and relies on imports to maintain its market share in India. Domestic manufacturers like Godrej and Videocon are also working on increasing their market shares. The penetration rate of refrigerators in India is still very low when compared to other emerging market or developed countries. The southern region of India leads the refrigerator market in sales volume followed by the northern, western and eastern regions. India Refrigerator Market Outlook, 2021 discusses the following aspects of refrigerators in India.
LG dominates the refrigerator market but Samsung holds maximum share in the frost free segment because of its smart feature refrigerators and different variants. To compete with Samsung, LG Electronics recently announced the industry’s first 5 star rated frost free refrigerator in India. Underpinned by the Smart Inverter Compressor, LG’s frost free refrigerators fully comply with India’s strict new 2014 energy regulations and offer up to 36% more energy efficiency than 3 star rated refrigerators of 2014 energy norms. LG’s Door Cooling feature ensures a stable, uniform temperature throughout the entire refrigerator compartment, including the convenient storage areas located on the inside of the door. Meanwhile, the pull-out Tray is completely removable, making it quick and easy for users to retrieve items stored at the back of fridge. This model of LG’s New Frost Free Refrigerator GL-D322 is available at a price of Rs.40090 in India.
Key Topics Covered:
1. Executive Summary
2. Global Refrigerator Market Outlook
3. India Refrigerator Market Outlook
4. India Direct Cool Refrigerator Market
5. India Frost Free Refrigerator Market
6. Raw Material
7. Market Penetration
8. PEST Analysis
9. Policy & Regulatory Landscape
10. India Refrigerator Trade Dynamics
11. Channel Partner Analysis
12. Market Dynamics
13. Market Trends & Developments
14. Competitive Landscape
15. Strategic Recommendations
– Godrej & Boyce Ltd.
– Haier Appliances
– LG Electronics
– Onida Electronics
– Panasonic Corporation
– Samsung Electronics
– Sharp Corporation
– Videocon Consumer Electronics & Home Appliances
– Whirlpool Corporation
For more information visit http://www.researchandmarkets.com/research/55ffdd/india
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Sector: Household Appliances