India Refrigeration Appliances Market to Garner $5601.69 Million by 2028

As per the report by Triton Market Research, the India refrigeration appliances market garnered $3540.57 million in 2021. It is anticipated to register a CAGR of 6.52% during 2022-2028.

A recent study by Triton Market Research titled 'India Refrigeration Appliances Market,' includes Market Analysis and Forecast by Category (Fridges; Fridge Freezers) and by Distribution Channel (E-commerce; Electronics and Appliance Specialists; Home and Garden Specialist Retailers; Other Distribution Channels).

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Triton's market research report implies that the India refrigeration appliances market would progress at a CAGR of 6.52% (by revenue) during the forecast period from 2022 to 2028, gaining $5601.69 million by 2028. Also, the market (in terms of category) is anticipated to grow at a CAGR of 2.25% (by volume) during this period, reaching 14794.40 thousand units by 2028.

There is a high demand for connected refrigeration appliances among Indian consumers, which has also prompted brands to innovate. For instance, LG introduced the InstaView French Door Refrigerator, thus contributing to the growing variety of linked options available in the domestic market.

The model is incorporated with ThinQ technology, UV nanotechnology, and Hygiene Fresh+ technology, and has increased the level of innovation. The growing demand for connected appliances and enhanced innovation by market players are expected to bolster market growth.

However, the cost of refrigeration appliances in India is on the rise. This is especially backed by the falling value of the Indian Rupee (INR) against the US Dollar (USD). This rise in appliances' prices is expected to hinder their adoption, thus hampering market growth.

The refrigeration appliances market in India is divided according to category and distribution channel. The category segment is further sectioned into fridges and fridge freezers. Whereas, the distribution channel segment is further classified into e-commerce; electronics and appliance specialists; home and garden specialist retailers; and other distribution channels.

The 'Make in India' initiative by the Indian government has bolstered the country's manufacturing sector. Moreover, key players in the market are focusing on technological advancements and are launching a range of products to cater to the growing needs of customers. The progress of domestic market players in India is a testament to the importance of understanding the local culture of this unique and diverse market.

The key players in the Indian refrigeration appliances market include Haier Group Corporation, Whirlpool Corporation, LG Corporation, Samsung Electronics Co Ltd, and Panasonic Corporation.

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Question & Answer: India Refrigeration Appliances Market

Question 1: What factors are expected to bolster the refrigeration appliances market growth in India?
Answer: There is a high demand for connected refrigeration appliances among Indian consumers, which has also prompted brands to innovate. For instance, LG introduced the InstaView French Door Refrigerator, thus contributing to the growing variety of linked options available in the domestic market.

The model is incorporated with ThinQ technology, UV nanotechnology, and Hygiene Fresh+ technology, and has increased the level of innovation. The growing demand for connected appliances and enhanced innovation by market players are expected to bolster market growth in India.

Question 2: Which factor can hamper the refrigeration appliances studied market's growth?
Answer: The cost of refrigeration appliances in India is on the rise. This is especially backed by the falling value of the Indian Rupee (INR) against the US Dollar (USD). This rise in appliances' prices is expected to hinder their adoption, thus hampering market growth.

Question 3: What is the refrigeration appliances market scenario in India?
Answer: The 'Make in India' initiative by the Indian government has bolstered the country's manufacturing sector. Moreover, key players in the market are focusing on technological advancements and are launching a range of products to cater to the growing needs of customers. The progress of domestic market players in India is a testament to the importance of understanding the local culture of this unique and diverse market.

Question 4: Which are the key players in the Indian refrigeration appliances market?
Answer: The key players in the Indian refrigeration appliances market include Haier Group Corporation, Whirlpool Corporation, LG Corporation, Samsung Electronics Co Ltd, and Panasonic Corporation.

Related Report:

Asia-Pacific Portable Air Purifier Market-
https://www.tritonmarketresearch.com/reports/asia-pacific-portable-air-purifier-market

The portable air purifier market in the Asia-Pacific is likely to depict growth at 9.53% of CAGR during the forecasted period 2019-2028, earning a net revenue of $6130 million by 2028.

In India, air pollution is caused by several factors, such as fumes emitted while cooking on wood indoors, especially in rural areas, along with the growing traffic exhaust, dust from construction sites, and factory emissions in urban areas.

The concentration of PM 2.5 in the nation is nearly eight times higher than the limitations recommended by the WHO. As a result, India's Central Pollution Control Board (CPCB) has implemented air pollution control standards and norms that necessitate the installation of portable air purifiers. Thus, the stringent ambient air quality standards and emission regulations are expected to boost the portable air purifier market's growth in the country.

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This release was published on openPR.