India Washing Machine Market Overview 2016-2022: Indian Washing Machine Market Fast Shifting Towards Fully Automatic Machines from Semi-Automatic Ones - Research and Markets
DUBLIN, Mar. 29, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "India Washing Machine Market Overview, 2016-2022" report to their offering.
Consumer durables refer to those goods that do not quickly wear out and yields utility over a longer period of time. They can be broadly categorized into three heads namely white goods, brown goods and consumer electronics. White goods include products like air conditioners, refrigerators, washing machines, audio equipments and speakers. The washing machine category is still some distance away from the inflexion point, unlike refrigerators.
However, players are now trying to influence penetration for the category with many new launches and heavy marketing campaigns. Growing disposable income and easy financing options have led to shortened replacement cycles whereas rising influence of modern lifestyle has perceived products such washing machines as utility items rather than luxury goods. Penetration of washing machines is around 9% in India and is expected to increase in the coming years with sales from rural India. Demand for washing machines goes up during monsoons and there is a greater need among urban and metro consumers to upgrade their machines during coming seasons.
Going ahead, the factors which will propel the washing machine market to grow are rise in disposable income, rapid urbanization, increasing nuclear families, working women's and growth in per capita income of consumers. Apart from this, greater varieties of choice are also forcing urban consumers to upgrade their semi-automatic machines to fully automatic ones. The price difference between fully automatic top loaders and semi-automatic have decreased to a great extend and this is helping brands to pitch aggressively for the former.
Companies Mentioned
- Godrej & Boyce Mfg. Co. Ltd.
- IFB Industries Ltd.
- LG Electronics India Pvt. Ltd.
- Samsung India Electronics Pvt. Ltd.
- Videocon Industries Limited
- Whirlpool of India Ltd.
Key Topics Covered:
1. Executive Summary
2. India Washing Machine Market Outlook
3. Product Price & Variant Analysis
4. Company Profiles
5. Disclaimer
For more information about this report visit http://www.researchandmarkets.com/research/g9m4m8/india_washing
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