Rapid urbanization and increasing personal disposable income have improved the standard of living of the middle-class population in India. Consumers are now readily spending on luxury products. india Dishwasher market is likely to witness immense growth potential over the coming years with rising number of average households along with flourishing modular kitchen trend in the country. Although the market is predominantly driven by commercial segment, however, with growing awareness towards benefits of dishwashers, the residential segment is anticipated to grow during the forecast period.
According to 6Wresearch, India dishwasher market is projected to grow at a CAGR of 10.8% during 2018-24. Amongst various distribution channels including multi-branded & exclusive stores, hypermarkets, and online sales, multi-branded stores contributed highest revenue share in 2017 followed by exclusive stores and others. Additionally, in terms of dishwasher types, freestanding dishwasher segment bagged maximum revenue share in 2017, however, built-in ones are projected to exhibit the highest growth during the forecast period. The high growth of built-in dishwashers is backed by growing preference of consumers towards better kitchen aesthetics, especially across the residential segment.
According to Rana Pratap Singh, Managing Director, Miele India, "Growing working class population, modular kitchen concepts, raising awareness towards hygiene, increasing product awareness among consumers along with surging consumer preferences for expensive crockery and cutlery are driving the growth of dishwasher market in India."
According to Anuj Mehrotra, Senior Research Analyst, Research and Consulting, 6Wresearch, "Currently, the market of a dishwasher in India is solely driven by urban consumers. Lack of product awareness and high cost are hindering the market growth significantly. To attract consumers, manufacturers are coming up with product customization as per the preferences of Indian consumers. For instance, BSH introduced special kadhai feature in their dishwashers to remove the difficult oily stains from cookware."
"In addition, glass door dishwashers are coming up in the market so that consumers can witness the whole washing process easily. Also, on account of favorable demographics and immense opportunities in India, foreign players are readily investing in the country, indicating substantial growth of dishwasher market over the coming years," Anuj concluded.
According to Suman Gautam, Research Associate, Research and Consulting, 6Wresearch, "Low availability of domestic servants in metro cities is a major concern for consumers, especially among women professionals. Urban households are readily adopting dishwashers owing to convenience, time-saving, and growing automation requirements. With emerging trend of nuclear families, manufacturers such as Electrolux, Siemens, and Carrier Midea have also introduced compact dishwashers with a capacity of 8-place settings in the country targeting metro cities."
"Furthermore, apart from a compact dishwasher, stainless steel interiors of dishwashers are another budding trend within dishwashers, as it offers high durability and increased efficiency of the drying cycle of dishes. Energy saving, lower water consumption, cycle time reductions, and lower noise levels are few of the factors on which manufacturers are working to come up with better products," Suman added.
Some of the major companies in India dishwasher market include - IFB Industries, BSH Home Appliances, LG Electronics, Samsung India Electronics, Miele India, Franke Faber India, Whirlpool of India, and Elica PB India.
Media Courtesy : Silicon India