Product Code: ETC375984 | Publication Date: Aug 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India domestic heating appliances market import shipment demonstrated strong growth with a notable CAGR from 2020 to 2024. The growth rate between 2023 and 2024 further accelerated, indicating an expanding market trend with increasing momentum over the years.
The India domestic heating appliances market size was estimated at USD 3 billion and is anticipated to grow at a CAGR greater than 11% owing primarily rising disposable incomes coupled with rapid urbanization resulting into increased preference for reliable sources or energy efficient solutions such as gas heaters or electric room heaters among residential consumers across country thereby positively impacting overall business landscape. Additionally there has been an increase usage cooking stoves within households due their convenience factor further complementing product demand. Furthermore expansion strategies adopted by numerous international players has provided fillip terms availability product variety along competitive prices further stimulating sector growth.
India domestic heating appliances market has been driven by factors such as changing consumer lifestyles, increasing disposable income, and urbanization. As people seek more comfort and convenience in their homes, the adoption of domestic heating appliances like room heaters and electric blankets has increased significantly, especially during the colder months.
The domestic heating appliances market in India faces challenges due to changing consumer preferences and energy concerns. Consumers increasingly seek energy-efficient and environmentally friendly heating solutions, pushing manufacturers to innovate. Moreover, affordability and distribution networks play a vital role in reaching a broader consumer base.
The COVID-19 pandemic had varying effects on the domestic heating appliances market in India. While there was an initial surge in demand for heating appliances due to increased stay-at-home activities, the subsequent economic slowdown affected consumers` purchasing power, leading to reduced sales. Supply chain disruptions and import/export challenges further impacted the market.
The India domestic heating appliances market is led by companies like Bajaj Electricals Ltd, Havells India Ltd, Usha International Ltd, and V-Guard Industries Ltd. These companies offer a diverse range of domestic heating appliances such as room heaters, water heaters, and heat convectors.