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India Built-in Kitchen Appliances Market to Grow at 17% Till 2021, Reports TechSci Research
According to TechSci Research report, the market for built-in kitchen appliances in India is projected to grow at a CAGR of over 17% during 2016-2021, on account of changing consumer lifestyles and increasing customer awareness about benefits of using built-in kitchen appliances. Growing working population base, rising women workforce and expanding middle class population base are major factors driving India built-in kitchen appliances market. Growing personal disposable income levels from USD1.20 million in 2011 to USD2.30 million in 2015, is anticipated to boost the market for built-in kitchen appliances in India over the next five years. Additionally, in 2013, premium real estate construction contributed around 7-8% in India real estate construction market, which increased to around 9-10% in 2015. All these factors are expected to drive demand for built-in kitchen appliances in India , over the next five years.
On the basis of product type, India built-in kitchen appliances market has been segmented into ovens, hobs, hoods, refrigerators, dishwashers & others. Among these categories, built-in ovens segment dominated India built-in kitchen appliances market in 2015. Built-in ovens are gaining popularity over traditional ovens, as they are easy to clean, consume less electricity and are equipped with compact hinges that make minimal noise. In 2015, North India was the largest regional market for built-in kitchen appliances in the country and the region is anticipated to continue dominating the market in the coming years as well. Few of the major players operating in India built-in kitchen appliances market include BSH Household Appliances, KAFF Appliances, Elica, Frankie Faber and Whirlpool.
"Availability of flexible payment options is an emerging trend in India built-in kitchen appliances market. Financial institutions are creating easy financing options, so that customers can purchase built-in kitchen appliances. Availability of a number of financing alternatives is increasing sales of built-in kitchen appliances in India . Apart from cash payments, customers are able to purchase built-in kitchen appliances via credit cards, ease monthly installment (EMI) schemes and other financing alternatives. This along with rising purchasing power of consumers in India is expected to be a positive sign for companies operating in India built-in kitchen appliances market.", said Mr. Karan Chechi , Research Director with TechSci Research, a research based global management consulting firm.
has evaluated the future growth potential of India built-in kitchen appliances market and provides statistics and information on market structure, policies and regulations in India built-in kitchen appliances market. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities in India built-in kitchen appliances market.
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