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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