The washing machine has become a necessity in the daily lives of the
people. Its demand has been increasing in India due to increasing
availability of new innovative models in the market and increasing PPP
of the Indian middle class families. It is no longer a luxury product
but a utilitarian product. The market is flooded with numerous leading
electronics brands presenting a huge variety of models to choose from.
It is available from a normal large-sized look to more portable and
stylish look such as top loading, front loading, fully automatic, and
semi-automatic. New innovative washing machines include Bluetooth
technology and a messaging feature through which it can receive
recommendations and control settings even when the user is away from
home. Analysts forecast the Washing Machine market in India will grow at a CAGR of 17.02 percent over the period 2013-2018.
The
Report recognizes the following companies as the key players in Washing
Machine Market in India: LG Electronics Inc., Samsung Electronics Co.
Ltd., Videocon Industries Ltd., Whirlpool Corp., Haier Electronics Group
Co. Ltd., IFB Industries Ltd., Maharaja Whiteline Industries Pvt. Ltd.,
Mirc Electronics Ltd., Panasonic Corp., Super Cassettes Industries
Ltd., TCL Corp. , The Godrej and Boyce Mfg. Co. Ltd., Toshiba Corp.
The
number of middle-class households in India is growing. It is expected
that the number of middle-class households will rise to 53.3 million by
2015, and touch 113.8 million by 2025. The average disposable income of
the middle-class family is between US$3,412 and US$7,063. As this
segment is the largest consumer of washing machines with a preference
for automatic washing machines, it is expected that there will be a
surge in demand for washing machines.
The report covers the
present scenario and the growth prospects of the Washing Machine market
in India for the period 2014-2018. To calculate the market size and
vendor share, it considers the revenue generated from the following
segments: Automatic Washing Machines and Semi-automatic Washing Machines
Washing
Machine Market in India 2014-2018, has been prepared based on an
in-depth market analysis with inputs from industry experts. The report
covers India; it also covers the Washing Machine market landscape and
its growth prospects in the coming years. The report also includes a
discussion of the key vendors operating in this market.
According
to the report, an improvement in living standards and the rise of the
Indian middle-class are the major drivers. With the rise in income
levels, the average Indian family can afford to invest in electronic
appliances such as washing machines.
Further, the report states
that the rising raw material prices are one of the biggest challenges as
manufacturers operate on low profit margins. Some companies have
adopted the strategy of resource optimization to cope with this
challenge.
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