India Refrigerator Market was volume at 24.54 Mn. Units in 2023. Top Freezer, One of the segments in MMR report is dominating the India Refrigerator Market.
India Refrigerator Market Overview:
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Mergers and Acquisitions in the India Refrigerator Industry:
The global refrigerator industry has witnessed notable mergers and acquisitions aimed at expanding market presence and enhancing product portfolios:
- India: In February 2024, Whirlpool Corporation sold a 24% stake in its Indian subsidiary for approximately $468 million to reduce debt and streamline operations.
- United States: In July 2024, ConocoPhillips announced a $22.5 billion acquisition of Marathon Oil, a move expected to strengthen its position in the energy sector.
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Key Developments in the India Refrigerator Market:
Several countries have undertaken strategic initiatives to strengthen their positions in the refrigerator market:
- Vietnam: The Vietnamese refrigerator market is expanding due to increased construction activities and foreign investments, leading to the establishment of new manufacturing facilities and partnerships with international companies.
- Thailand: Thailand’s market is growing, driven by urbanization and infrastructure projects, with local and international companies investing in production capacity and product innovation.
- Singapore: Singapore serves as a hub for research and development in advanced refrigeration technologies, attracting investments from global players aiming to develop sustainable and high-performance products.
- Japan: Japanese companies are focusing on eco-friendly and high-durability refrigerators, leveraging advanced technologies to cater to both domestic and international markets.
- South Korea: South Korean manufacturers are investing in smart refrigeration and nanotechnology, aiming to enhance product performance and expand their global footprint.
- European Union: The EU is emphasizing sustainable and energy-efficient refrigerators, with companies investing in green technologies and expanding through strategic acquisitions to strengthen their market presence.
- United States: The U.S. market is characterized by innovation in smart and energy-efficient refrigerators, with companies engaging in mergers and acquisitions to diversify their product offerings and enter new markets.
India Refrigerator Market Segmentation:
by Product
Top Freezer
Bottom Freezer
Side by Side
French Door
In 2023, Top Freezer dominated the market, accounting for 27%. The ability to combine freezer and shelf storage in one device eliminates the need to purchase separate freezers. It has plenty of room, making it easy to store larger dishes. It is the most popular style around the world and is reasonably priced with a wide selection. These reasons are propelling the market growth of this sector.
by Distribution Channel
Supermarkets
Specialty Stores
Online
Others
In 2023, specialty stores led the market, accounting for 28%. To reduce product returns, Indian shoppers prefer to buy things after testing them out or handling them. The product is widely available in supermarkets, and you can examine the quality, size, and requirements accordingly. Instant access to after-service components, as well as the ability to contact the vendor swiftly if an issue arises. These factors are propelling the expansion of this industry.
by Type
Frost Free
Direct Cool
Direct Cool dominated the market in 2023, accounting for 55%. It requires manual defrosting. They are less expensive to install, take up less room, and consume less energy. These elements contribute to the segment’s market growth.
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India Refrigerator Market Key Players:
1. Onida
2. Rockwell Companies
3. Sinfin Company
4. BPL companies
5. Samsung
6. Bosch
7. Siemens
8. Godrej
9. Electrolux
10. Videocon
11. LG
12. Whirlpool
13. Panasonic
14. Haier
15. Voltas Limited
16. Hitachi
17. Sharp
18. Amana
19. Kitchenaid
20. MIDEA
21. Kenmore
22. GE
23. Frigidaire
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India Refrigerator Market Regional Insights :
The size and trends in the India Refrigerator market in each of the following regions are thoroughly examined in this research: North America (which includes the United States, Canada, and Mexico); Europe (which includes France, Spain, Germany, Italy, and other European countries); Asia-Pacific (which includes China, Japan, India, Australia, South Korea, ASEAN countries, and others APAC countries); South America (which includes Argentina, Brazil, and other South American countries); and Middle East and Africa (which includes South Africa, Egypt, and other MEA countries).
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Your Ultimate Guide: Key Questions Answered in the Latest Market Report:
- What is India Refrigerator?
- What was the India Refrigerator market size in 2023?
- Which are the factors expected to drive the India Refrigerator market growth?
- Who are the leading companies and what are their portfolios in India Refrigerator Market?
- What growth strategies are the players considering to increase their presence in India Refrigerator?
- What are the upcoming industry applications and trends for the India Refrigerator Market?
- What will be the CAGR at which the India Refrigerator market will grow?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the India Refrigerator Market?
- What are the different segments of the India Refrigerator Market?
- What is the growth rate of the India Refrigerator market?
- What segments are covered in the India Refrigerator Market?
- Who are the key players in the India Refrigerator market?
- What are the key challenges and opportunities in the India Refrigerator market?
- Which application holds the highest potential in the India Refrigerator market?
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