Consumer Durables Market : Indian market reach at $20.6 bn by 2020
- India's consumer electronics and appliances market is
projected to be worth $20.6 billion by 2020.
- It is possible due to the factors such as high disposable
income, easy consumer financing and organised retail.
- According o the Consumer Electronics and Appliances
Manufacturers Association (CEAMA) and consultancy firm EY,India is also
expected to rank fifth in the consumer durables market in the world by 2025.
- The Indian market for consumer electronics and appliances is
around $9.7 billion and has grown at a CAGR of 9.7 % over the 2010-2014 period
and is poised to reach $20.6 billion by 2020.
- At present, the consumer electronics segment constitutes 17 %
of the total Indian electronic products, which is the third-highest share.
- According to CEAMA estimates, the LED/LCD market is expected
to grow at around 20 % from 2014 till 2020, while refrigerators are expected to
grow at around 10 % in that period.