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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