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.
“India Washing Machine Market Outlook, 2022”, washing machine market in India is divided into two technology types, one is semi-automatic machine and the other is fully automatic machine. Fully automatic machines have surpassed the sales of semi-automatic ones in the last two years, which indicates that there is a trend of premiumization in the market. LG, Samsung, IFB, Whirlpool, Videocon and Godrej are the leading players in the washing machine industry of India. North churns majority of revenue in the market whereas East is the lowest penetrated region. Also, demand from urban cities is far more than rural areas where the product is still considered as an upper class phenomenon. Domestic players have turned their focus towards these rural areas as urban markets are clearly dominated by foreign multinationals like LG and Samsung.
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. New and innovative technologically equipped washing machines will continue to become popular in India. There is no shortage of products and the market is already flooded with numerous leading consumer durable brands presenting a huge variety of models to choose from. Washing machines are now available from a normal large-sized look to more portable and stylish looking front loading machines.
Key Product Type
- Semi-Automatic Washing Machine
- Fully Automatic Washing Machine
– Top Load Fully Automatic Washing Machine
– Front Load Fully Automatic Washing Machine
Related Research Reports: India Machine Market Reports