Consumer Durables Market : Indian market reach at $20.6 bn by 2020

Highlights:

  • 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.