Increasing disposable income along with growing consumer electronics industry to drive India washing machine market through 2024
According to TechSci Research report, “India Washing Machine Market By Product Type, By Machine Capacity, By Technology, Competition, Forecast & Opportunities, 2024”, India washing machine market is projected to grow at a CAGR of over 4% during 2019-2024. India washing machine market is driven by rise in disposable income and improvements in rural electrification. Moreover, increasing affordability of washing machines and rapid urbanization is further fueling growth in the market. Additionally, rising need for differentiated products and services have led to an upsurge in investments for R&D activities.
In terms of technology, India washing machine market is categorized into smart connected washing machine and conventional washing machine. Of which, smart connected washing machines are predicted to grow at a swift rate during the forecast period. The growth of the smart connected washing machine category is majorly due to the increasing adoption of technologically advanced products in the country. Moreover, the price difference between smart connected washing machine and conventional washing machine has decreased to a great extent, which is helping the brands to pitch aggressively for the former.
Browse market data Tables and Figures spread through 70 Pages and an in-depth TOC on “ India Washing Machine Market “
Based on machine capacity, India washing machine market is divided into below 6 kg, between 6-8 kg, and 8 kg and above. The 6-8 kg machine capacity is the most lucrative segment, as it offers better energy efficiency and higher value for money, in terms of laundry washing. Regionally, India washing machine market is categorized into North, East, South and West. Among these regions, the North India accounted for a significant portion of India washing machine market in 2018.
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“India washing machine market is anticipated to register a steady growth over the course of next five years. Growth in the market is led by increasing disposable income in the country along with growing consumer electronics industry. Moreover, technological advancements in washing machines, such as smart washing machines are further anticipated to bolster the growth of the market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Washing Machine Market By Product Type, By Machine Capacity, By Technology, Competition, Forecast & Opportunities, 2024”, has evaluated the future growth potential of India washing machine market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India washing machine market.
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