India: Domestic Appliances Market 2024

Domestic Appliances Market Size in India

After six years of growth, the Indian domestic appliances market decreased by -2.2% to $X in 2021. The market value increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Domestic appliances consumption peaked at $X in 2020, and then dropped modestly in the following year.

Domestic Appliances Production in India

In value terms, domestic appliances production dropped modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 9.3%. Domestic appliances production peaked at $X in 2020, and then declined modestly in the following year.

Domestic Appliances Exports

Exports from India

In 2021, overseas shipments of domestic appliances increased by 38% to X units, rising for the second consecutive year after three years of decline. Over the period under review, exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2016 when exports increased by 50%. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, domestic appliances exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +5.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Nepal (X units), the United Arab Emirates (X units) and Bangladesh (X units) were the main destinations of domestic appliances exports from India, together comprising 59% of total exports. Sri Lanka, Kenya, the United States, the Netherlands, Nigeria, Bhutan, Sudan, Ghana, Australia and Germany lagged somewhat behind, together comprising a further 44%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bhutan (with a CAGR of +64.4%), while the other leaders experienced more modest paces of growth.

In value terms, Nepal ($X), the United Arab Emirates ($X) and Sri Lanka ($X) appeared to be the largest markets for domestic appliances exported from India worldwide, together accounting for 40% of total exports. These countries were followed by the United States, Bangladesh, Kenya, Nigeria, Bhutan, Ghana, Sudan, the Netherlands, Australia and Germany, which together accounted for a further 30%.

Bhutan, with a CAGR of +65.9%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average domestic appliances export price stood at $X per unit in 2021, rising by 2.7% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2017 when the average export price increased by 21% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Sri Lanka ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Domestic Appliances Imports

Imports into India

In 2021, imports of domestic appliances into India surged to X units, picking up by 28% on 2020 figures. Overall, total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -2.2% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 35% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, domestic appliances imports skyrocketed to $X in 2021. In general, imports continue to indicate a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) was the main domestic appliances supplier to India, with a 148% share of total imports. Moreover, domestic appliances imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), tenfold. The third position in this ranking was taken by Vietnam (X units), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+54.9% per year) and Vietnam (+55.2% per year).

In value terms, China ($X) constituted the largest supplier of domestic appliances to India, comprising 60% of total imports. The second position in the ranking was taken by Thailand ($X), with a 10% share of total imports. It was followed by Indonesia, with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+7.4% per year) and Indonesia (+47.5% per year).

Import Prices by Country

In 2021, the average domestic appliances import price amounted to $X per unit, with an increase of 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.3%. The pace of growth appeared the most rapid in 2020 when the average import price increased by 16%. Over the period under review, average import prices attained the maximum in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :