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Booming Consumer Electronics Market in India
RNCOS E-Services Private Limited, Oct 2008, Pages: 125
India has an increasingly affluent middle class population that, on the back of rapid economic growth, has made the country’s consumer electronics industry highly dynamic. The industry has been witnessing significant growth in recent years due to several factors, such as retail boom, growing disposable income and availability of easy finance schemes. But still, the consumer electronics goods, like refrigerators, microwave and washing machines, have low penetration in the country, representing vast room for future growth. This is attracting many foreign majors to the country, says our new research 'Booming Consumer Electronics Market in India”.
The report finds that since the penetration of several products like TVs and refrigerators are reaching saturation in the urban areas, the markets for these products are shifting to the semi-urban and rural areas.
This analytical research thoroughly evaluates the Indian consumer electronics industry. It briefly discusses about the current and emerging trends in the industry, underlining the future potential areas and key issues crucial for the industry development.
'Booming Consumer Electronics Market in India” offers extensive research on various consumer electronics products that are broadly classified as home appliances, audio/video appliances, mobile handsets, and PC market. It provides an insight into the emerging and potential future trend in all the categories and highlights the key strategies that need to be worked upon to get success in the highly competitive industry.
The report thoroughly analyzes the historic performance and future prospects, offering 4-year industry forecast, of following consumer electronics products:
- Washing Machines (Semi-automatic & Fully Automatic)
- Television
- Set-top Box
- Refrigerator (Frost-free & Direct Cool)
- Air Conditioner
- Microwave Oven
- MP3 Players
- Digital Camera & Camcorder
- Mobile Handsets
- PCs (Desktop & Notebook)
Key Research Findings:
- Propelled by growing middle class population, changing lifestyle and rapid urbanization, the Indian consumer electronics industry is forecasted to grow at a rapid rate of 10% to 12% in the coming few years.
- Volume sales of washing machine will be driven by growth in fully automatic category during 2008-09 to 2011-12.
- The market for televisions in India is changing rapidly from the conventional CRT technology to Flat Panel Display Televisions (FPTV). Currently, the split between CRT and FPTV is around 97% and 3% respectively, and the share of FPTV is projected to increase at robust rate in near future.
- Frost-free refrigerator sales, certainly growing at a much faster pace than the direct-cool category, are anticipated to drive the Indian refrigerators market over the forecast period.
- The AC market in India is projected to grow at 30% to 35% for the coming few years.
- Driven by young population, demand for MP3 players and digital video appliances are anticipated to surge at double-digit rate in near future.
- The low penetration level of consumer electronics goods coupled with increasing preference for comfort and luxurious goods are widely attracting the foreign as well as domestic players to the industry.
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