While the consumer durable and electronics industry posted a double digit growth in 2024, it is poised for remarkable growth in 2025, driven by adoption of premium, value added, feature-led products and will be fueled by policies like the Production-Linked Incentive (PLI) scheme on the supply side. Per industry leaders, the segment has long been subdued and it is now set for a turnaround. Manish Sharma, Chairman, Panasonic Life Solutions India & SA, said, “India’s consumer electronics sector is poised for remarkable growth, with market demand projected to reach $21.18 billion by 2025. This growth will be driven due to adoption of products with higher energy efficiency and will be fueled by policies like the Production-Linked Incentive (PLI) scheme on the supply side. Other factors for expansion include increasing digital adoption, a growing middle class with higher disposable income and increasing urbanization, which is driving the premiumization trend and demand for advanced and connected devices.”
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According to a report by IBEF, by 2025, India’s consumer electronics and appliances sector is predicted to be the fifth-largest in the world and the industry players are voicing this growth in their outlook for the year. Kamal Nandi, Business Head and EVP – Appliances Business, Godrej Enterprises Group, said, “Looking ahead, we expect the appliances industry to grow by approximately 12-15 per cent in 2025, with Godrej targeting a growth rate of more than 30 per cent, driven by cooling appliances, premium segments, larger capacity segment coupled with intelligent offerings which are expected to continue driving demand.” He also credited the growth to credit-scheme-backed sales such as no-cost or low-cost EMIs, longer-tenure loans, zero-down payment options, cashbacks, etc. “Consumers find it easy to upgrade to higher capacities and better features with flexible finance options. Finance contributes to close to 40 per cent of the total industry sales,” Kamal Nandi added.
NS Satish, President, Haier Appliances India, said, “In 2025, Haier India aims to increase its revenue to Rs 11,500 crore, with a clear focus on premiumization, product innovations and manufacturing expansions to meet the dynamic needs of Indian consumers.” Going forward, the company is planning to expand its market share and revenue. “The focus will remain on increasing brand presence in emerging regions while strengthening our foothold in metros.
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