Updated Sep 28, 2022 05:42

Domestic Appliances Market in Southern Asia

Market Overview
In , the South Asian domestic appliances market increased by % to $ for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $ in 2018; however, from 2019 to , consumption remained at a lower figure.

In value terms, domestic appliances production expanded to $ in estimated in export price. The total output value increased at an average annual rate of +% over the period from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of % against the previous year. The level of production peaked at $ in 2018; however, from 2019 to , production remained at a lower figure.

The country with the largest volume of domestic appliances production was India ( units), accounting for % of total volume. Moreover, domestic appliances production in India exceeded the figures recorded by the second-largest producer, Pakistan ( units), fourfold.

In India, domestic appliances production increased at an average annual rate of +% over the period from 2007-.


Consumption
Domestic appliances consumption rose slightly to units in , growing by % against figures. The total consumption volume increased at an average annual rate of +% over the period from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in when the consumption volume increased by %. As a result, consumption reached the peak volume of units; afterwards, it flattened through to .

The revenue of the domestic appliances market in Southern Asia expanded modestly to $ in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in and is expected to retain growth in the immediate term.


Consumption by Country
India ( units) remains the largest domestic appliances consuming country in Southern Asia, comprising approx. % of total volume. Moreover, domestic appliances consumption in India exceeded the figures recorded by the second-largest consumer, Pakistan ( units), fourfold.

From 2007 to , the average annual rate of growth in terms of volume in India totaled +%.

In value terms, India ($) led the market, alone. The second position in the ranking was taken by Pakistan ($).

From 2007 to , the average annual rate of growth in terms of value in India amounted to +%.

From 2007 to , the average annual rate of growth in terms of the domestic appliances per capita consumption in No country was relatively modest.


Consumption by Type
The products with the highest volumes of consumption in were household refrigerators and freezers (not combined) ( units), electric heating resistors ( units) and domestic, non-electric, cooking or heating appliances ( units), with a combined % share of the total volume. These products were followed by domestic food grinders and mixers and fruit or vegetable juice extractors, non-electric air heaters or hot air distributors, vacuum cleaners, electric water heaters and immersion heaters, fans; table, floor, wall, window, ceiling or roof fans, with a self-contained electric motor of an output not exceeding , household washing and drying machines, electric shavers, hair-removing appliances and hair clippers, electric smoothing irons, combined refrigerators-freezers, iron or steel gas domestic appliances, hair curlers and curling tongs, iron or steel solid fuel domestic appliances, electric ovens, cookers, cooking plates, boiling rings, grillers and roasters, electric hair dryers, non-electric instantaneous or storage water heaters, domestic electric toasters, vacuum cleaners without motor, hoods; ventilating or recycling hoods incorporating a fan, whether or not fitted with filters, having a maximum horizontal side not exceeding , domestic microwave ovens, domestic electric coffee or tea makers, electric space heating apparatus and soil heating apparatus, household dishwashing machines, electric hand-drying apparatus, electric blankets and iron or steel liquid fuel domestic appliances, which together accounted for a further %.

From 2007 to , the biggest increases were recorded for vacuum cleaners without motor (with a CAGR of +%), while consumption for the other products experienced more modest paces of growth.

In value terms, electric heating resistors ($) led the market, alone. The second position in the ranking was held by household refrigerators and freezers (not combined) ($). It was followed by iron or steel solid fuel domestic appliances.

For electric heating resistors, market expanded at an average annual rate of +% over the period from 2007-. For the other products, the average annual rates were as follows: household refrigerators and freezers (not combined) (+% per year) and iron or steel solid fuel domestic appliances (+% per year).


Market Forecast
Driven by increasing demand for domestic appliances in Southern Asia, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to units by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .