White goods refer to heavy consumer durables or large home appliances, which were traditionally available only in white. Although these goods are presently available in varied colors, they are continued to be called as white goods. They include appliances such as washing machine, air conditioners, stoves, refrigerators, and others. According to IBEF, the white goods industry in India is highly concentrated. The top five players of washing machine and refrigerator segments garner more than 75% of the market share. In addition, 30–35% of the share is procured by the top five players in the kitchen appliances segment.
Flexible government policies, such as liberalization of license rules, have majorly driven the consumer market for white goods in India. Moreover, increase in digital access, which leads to rise in product awareness, shift in lifestyle patterns, increase in middle-class population, and improvement in standard of living are the ongoing factors leading to growth in consumer spending on electronics and home appliances, thus driving the white goods market growth in the country. However, availability of counterfeit brands in the market serves as a challenge for white goods manufacturers.
Conversely, manufacturing appliances developed using artificial intelligence to design smart electronics is viewed as an opportunity by the white goods manufacturers.
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KEY BENEFITS FOR STAKEHOLDERS
- This report provides an extensive analysis of the current and emerging trends and dynamics in the India white goods market.
- In-depth analysis is done by constructing market estimations for the key market segments to identify the prevailing market opportunities.
- This study evaluates the competitive landscape and value chain to understand the competitive environment across the geographies.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
The India white goods market is segmented based on product and end user. On the basis of product, the market is classified into air conditioners, refrigerators, and washing machines. By end user, it is divided into private sector, domestic, corporate, public sector, government, and hospitals.
The major players in the market include Blue Star Ltd., Voltas Ltd., Bajaj Electricals Ltd, Videocon Industries Ltd., Onida, Koninklijke Philips N.V., Whirlpool Corporation, LG Electronics Inc., and Samsung And Hitachi Ltd.
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