The Indian refrigerator market is anticipated to grow with a lucrative CAGR of 8.4% during the forecast period (2020-2026). The growth of the market in India is expected to be majorly fueled by the rising working population coupled with an increase in disposable incomes. Additionally, the huge untapped market with low penetration of refrigerators across the country will also provide new growth opportunities for the refrigerator companies. According to the India Brand Equity Foundation (IBEF), only around 29% of households in India own a refrigerator. In addition to this, the evolving rural areas are also anticipated to provide significant potential for the expansion of the refrigerator market across the country.
Browse the full report description India Refrigerator Market Size, Share & Trends Analysis Report By Product Type (Single Door, Double Door, Side by Side Door French Door, and Other), By Application (Residential and Commercial), By Distribution Channel (Online Channel and Offline Channel), Forecast Period 2020-2026 at https://www.omrglobal.com/industry-reports/india-refrigerator-market
Furthermore, the presence of global refrigerator companies will also cater to the growth of the market. The global companies are also expanding their market reach in the region with the launch of new technologically advanced products that are designed specifically considering the Indian demographics and requirements. It is expected to increase the average price of refrigerators in the country. For instance, in September 2020, Whirlpool Corp. a globally recognized brand of refrigerator launched a new range of bottom-mounted range of refrigerators in a capacity ranging between 325L and 355L in Omega Steel and Steel Onyx finish in the Indian market. The refrigerators come with several features such as adaptive intelligence technology, 3D airflow technology, and IntelliSense Inverter technology that are aimed at catering to the requirements of individual households.
Market Coverage
o By Product Type
o By Application
o By Distribution Channel
Key questions addressed by the report
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected segment
Asia-Pacific Refrigerator Market Report Segment
By Product Type
By Application
By Distribution Channel
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