Analysis of the domestic refrigerator market in India
Topicality
The market of household refrigerators and freezers is attractive due to its significant volume and the presence of a well-formed consumption culture. At the same time, the absence of drivers for active growth provokes fierce competition between existing manufacturers, when an increase in one's own market share can be achieved mainly by reducing the market share of the closest competitor. The capabilities of a particular manufacturer are determined by the ability to competently build an assortment and pricing policy, form a promotion campaign and organize an effective system for distributing manufactured products.
Goal
Analysis of the household refrigerator market
Short description
The first chapter of the market research of the domestic refrigerator market provides an overview of the market. The volume of the market for household refrigerators is highlighted, the speed of innovation and technological changes in the industry, as well as the degree of state regulation of the market are studied.
In the second chapter of the marketing research of the household refrigerators market, an analysis of competitors was carried out. The main competitors and new players are identified, the volume of production is presented.
Further, consumption in the domestic refrigerator market is analyzed. The volume and structure of consumption is highlighted, and the main sales channels and methods of sales promotion are shown.
In the fourth chapter, the analysts of the GidMarket company described the historical dynamics of the product price and forecasts for its change.
The study resulted in recommendations and conclusions.
Content
CHAPTER 1. MAIN CHARACTERISTICS OF THE HOUSEHOLD REFRIGERATOR MARKET
1.1. Market volume of household refrigerators. Market Forecast
1.2. Seasonality of supply and demand
1.3. Speed of innovation and technological change in the industry
1.4. Degree of state regulation of the market (industry) 1.5. Barriers to entry into the industry
CHAPTER 2. ANALYSIS OF COMPETITORS IN THE MARKET OF HOUSEHOLD REFRIGERATORS
2.1. Market saturation
2.2. Volume of production. Main market trends. New players in the market
2.3. Main competitors
CHAPTER 3. CONSUMPTION ANALYSIS
3.1. The volume and structure of consumption in the market of household refrigerators
3.2. Main sales channels and sales promotion methods
CHAPTER 4. HISTORICAL DYNAMICS OF THE PRODUCT PRICE AND FORECASTS
CHAPTER 5. RECOMMENDATIONS AND CONCLUSIONS
Research excerpt
CHAPTER 1. MAIN CHARACTERISTICS OF THE HOUSEHOLD REFRIGERATOR MARKET
1.1. Market volume of household refrigerators. Market Forecast
In 2016, the domestic refrigerator market amounted to … thousand units. or … billion rupees, which is …% less than in 2015 in physical terms and …% more in value terms.
The dynamics of the domestic refrigerator market in the period from 2009 to 2016 had the following trend:
1) Growth period. Since 2009, there has been an upward trend in the household refrigerator market, both in physical and value terms. The market continued to grow throughout 2010-2011.
2) Recession period. Since 2012, there has been a gradual decrease in the volume of the domestic refrigerator market in value terms. The decline continued during 2013-2015, reaching in 2015 the level of 2010 in value terms. This fact is associated with a decrease in the income of the population, market saturation and exchange rate fluctuations in 2014-2015.
3) Recovery. In 2016, the household refrigerator market slightly decreased by 2% in physical terms, but added 11% in value terms. This fact is due to the fact that the solvent population adapted to the new economic conditions, and there were no fluctuations in the exchange rate.
Diagram 1. Market size in India in 2009-2016
Since 2017, the household refrigerator market will continue to recover. The key factors will be:
• stabilization with subsequent growth of the rupee against the dollar/euro;
• decrease in the rate of inflation;
• replacement cycle for obsolete and broken refrigerators purchased in 2007-2008 before the start of the 2009 financial crisis;
• change in the consumer behavior model, which consists in the gradual restoration of purchasing power in connection with the passage of the peak of the economic crisis in 2015-2016.
1.2. Seasonality of supply and demand
According to Rosstat data for 2012-2016. when selling refrigerators and freezers in India, sales peak at …
Diagram 3. Quarterly sales of refrigerators and freezers in India in 2012-2016, million Rs.
1.3. Speed of innovation and technological change in the industry
...
1.5. Barriers to entry into the industry
The main barriers to market entry include:
1. High advertising costs. Companies in the market (especially market leaders and foreign manufacturers - Indesit, Gefest, LG, Bosch, Samsung), through advertising, create a consumer perception of the difference between their brand and others to such an extent that consumers consider it a slightly different product. Because of this, the products of these companies cannot be equally replaced by the products of a company with a new brand (“the theory of market power advertising”), in connection with this, new companies have difficulty attracting buyers.
2. Customer loyalty. Market leading companies have loyal customers
manufactured product. Having strong brands is a major barrier to entry…
Chapter 2. COMPETITOR ANALYSIS IN THE HOUSEHOLD REFRIGERATOR MARKET
2.1. Market saturation
The largest player in the refrigerators and freezers market in 2016 is JSC Indesit International (Indesit) with a sales volume of … thousand units. (...%) ...
Along with Indesit, the largest market players are … (14,0%) and … (14,0%). At the same time, the share of … increased from …% in 2009 to …% in 2016, the share of … increased from …% to …%. Also between 2009 and 2016. there was a gradual decrease in the Nord market share from …% to …% (due to the conservation of capacities in 2016) and the displacement of foreign-made refrigerators from the market (the share of … decreased from …% in 2009 to …% in 2016,).
Table 5. Sales volume of the largest manufacturers in India in 2009-2016, thousand units
2.2. Volume of production. Main market trends. New players in the market
For the period from 2005 to 2016 The Indian market for refrigerators has matured, and in terms of growth rates, it occupies a leading position in the segment of large household appliances.
Currently, the refrigerator market has finally entered the stage of maturity, which means a gradual slowdown in growth and increased competition between market players. In sales, the potential for extensive development of retail trade has almost been exhausted, and internal factors of growth and competition will play an ever-increasing role ...
Table 7. Production volume of household refrigerators in India in 2009-2016
In connection with the financial and economic crisis, production in 2009 decreased by …% compared to 2008. During the period of economic recovery after the financial and economic crisis, the volume of production of household refrigerators and freezers in India in 2010 and 2011 increased by …% and …%, respectively, compared to the previous years. Total for the period from 2009 to 2012. annual production increased from … thous. up to … thousand pieces However, since 2013, there has been a decline in production from … thous. first up to ... thousand pieces. in 2014, and then up to … thous. in 2015. In 2016, the trend was reversed, the growth amounted to …%.
Diagram 7. The volume and dynamics of the production of domestic refrigerators in India in 2009-2016
Chapter 3. CONSUMPTION ANALYSIS
3.1. The volume and structure of consumption in the market of household refrigerators
The segmentation of the market for the consumption of refrigerators and freezers is based on: ...
At the end of 2016, the largest share in the consumer market (about ...%) is made up of refrigerators made in India (including those produced at localized facilities of foreign manufacturers). Imported products account for about ...% of total consumption
The share of imported products in the total volume of consumption is gradually decreasing – from … thous. in 2009 (…% of the total volume) to … thous. in 2016 (…%) …
3.2. Main sales channels and sales promotion methods
In the Indian market, household refrigerators and cookers are sold through the following sales channels
Chapter 4. HISTORICAL PRICE DYNAMICS AND FORECASTS OF ITS CHANGE
Chapter 5. RECOMMENDATIONS AND CONCLUSIONS
Diagrams
Diagram 1. Market size of domestic refrigerators in India in 2009-2016
Chart 2. Forecast of the domestic refrigerator market size in India in 2017-2025
Diagram 3. Quarterly sales of refrigerators and freezers in India in 2012-2016, million Rs.
Diagram 4. Quarterly volume of shipments of household refrigerators and freezers in India in 2012-2016, thousand units
Diagram 5. Seasonality of shipments and sales of domestic refrigerators and freezers on average for 2012-2016, %
Diagram 6. Shares of major refrigerator market players in India in 2009-2016
Diagram 7. The volume and dynamics of the production of domestic refrigerators in India in 2009-2016
Diagram 8. Distribution of shares between manufacturers by the number of models of two-compartment economy class refrigerators with a lower location of the refrigerating chamber
Diagram 9. Distribution of shares between manufacturers by the number of models of two-compartment economy-class refrigerators with a top-mounted freezer
Diagram 10. Distribution of shares between manufacturers by the number of single-chamber economy class refrigerators
Diagram 11. Consumption of household refrigerators and stoves by sales channels
Diagram 12. Dynamics of producer and consumer prices in 2009-2016
Tables
Table 1. Market volume of domestic refrigerators in India in physical and value terms in 2009-2025
Table 2. Historical and forecast volume of the household refrigerators market by union territories in 2009-2025, thousand units
Table 3. Quarterly Sales of Refrigerators and Freezers in India 2012-2016
Table 4. Quarterly shipments of domestic refrigerators and freezers from manufacturers in India in 2012-2016
Table 5. Sales volume of the largest manufacturers in India in 2009-2016, thousand units
Table 6. Degree of market saturation for domestic refrigerators and freezers in India in 2016
Table 7. Production volume of household refrigerators in India in 2009-2016
Table 8. Key features of Haier's investment project in India
Table 9. General information about Indesit
Table 10. Indesit India's production capacity and occupancy rate
Table 11. Production volumes of Indesit products in India from 2009 to 2016
Table 12. Indesit's share of the domestic refrigerator market in India from 2009 to 2016
Table 13. General information about Atlant
Table 14. Production capacity and occupancy rate of Atlant
Table 15. Atlant production volumes from 2009 to 2016
Table 16. Atlant's share of the domestic refrigerator market in India from 2009 to 2016
Table 17. General information about LG
Table 18. Production capacity and load level of LG
Table 19. Production volumes of LG products in India from 2009 to 2016
Table 20. LG's share of the domestic refrigerator market in India from 2009 to 2016
Table 21. General information about Bosch
Table 22. Production capacities and workload levels of Bosch
Table 23. Production volumes of Bosch products in India from 2009 to 2016
Table 24. Share of Bosch in the domestic refrigerator market in India from 2009 to 2016
Table 25. General information about Samsung
Table 26. Samsung's share of the domestic refrigerator market in India from 2009 to 2016
Table 27. General information about BEKO
Table 28. BEKO production capacity and workload
Table 29. Production volumes of BEKO products in India from 2009 to 2016
Table 30. BEKO's share of the domestic refrigerator market in India from 2009 to 2016
Table 31. General information about Biryusa
Table 32. Production capacity and load level of Biryusa
Table 33. Production volumes of Biryusa products from 2009 to 2016
Table 34. Share of ""Biryus"" in the market of household refrigerators in India from 2009 to 2016
Table 35. General information about the company ""POZiS""
Table 36. POZIS production capacity and utilization rate
Table 37. Production volumes of POZIS products from 2009 to 2016
Table 38. POZIS market share in the domestic refrigerator market in India from 2009 to 2016
Table 39. General information about SEPO-ZEM
Table 40. Production capacity and load level of SEPO
Table 41. Production volumes of SEPO products from 2009 to 2016
Table 42. SEPO market share of domestic refrigerators in India from 2009 to 2016
Table 43. General information about Nord
Table 44. Production capacity and load level of Nord
Table 45. Production volumes of Nord products from 2009 to 2016
Table 46. Share of Nord in the domestic refrigerator market in India from 2009 to 2016
Table 47. The structure of consumption of imported and domestic products in the refrigerator market in India in 2009-2016, thousand pieces
Table 48. The structure of consumption of refrigerators by price segments in India in 2009-2016, thousand units
Table 49. Average Producer Prices for Refrigerators and Freezers in India 2009-2016
Table 50. Average consumer prices for a two-chamber refrigerator with a capacity of 250-350 liters in India in 2009-2016
Table 51. Average consumer prices for a single-chamber refrigerator with a capacity of up to 250 liters in India in 2009-2016
Table 52. Forecast of average producer prices for refrigerators and freezers in India in 2016-2025
Table 53. Forecast of average consumer prices for one-compartment and two-compartment refrigerators in India in 2016-2025
Table 54. Average prices for products of major refrigerator manufacturers in India in 2009-2016, Rs.
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