A Rising Demand Curve

The consumer durables industry is categorised primarily into two segments by product categories: major appliances and small domestic appliances.

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Major appliances, or white goods, include items like washing machines, televisions, refrigerators and air conditioners. Small domestic appliances encompass kitchen and cooking appliances such as mixer grinders, cookers, ovens and toasters. These also comprise household electrical appliances such as fans, lights, cables and wires, switches and switchgear, water heaters, kitchen appliances, and other small domestic appliances such as pumps, irons, etc.

The consumer durables market in India has shown remarkable growth from FY18 to FY23, reaching a market size of ₹1.3 lakh crore in FY23. Projections indicate that it will expand at around 14 per cent CAGR until FY28E. This surge is fuelled by increased rural consumption, shorter replacement cycles, and greater retail penetration. Factors such as changing consumer preferences and lifestyle patterns, rising disposable incomes, discounts, availability of easy finance, and a greater emphasis on convenience, comfort and energy efficiency have shaped consumer-buying behaviour.