The home appliance market in India
There has been a substantial growth in the home appliance market in India. With India’s middle-class growing, with reports estimating around 500 million Indians would enter middle-class by 2030, and disposable incomes increasing, brands are determined to capture as much market share as possible by coming up with innovative ideas to revolutionize their respective industries.
The home appliance market mainly consists of refrigerators, air conditioners, washing machines, television sets and microwave ovens, and small appliances like vacuum cleaners, toasters, irons, grills, and hair dryers. This market is set to grow at a CAGR of 5% by 2025 and reach Rs. 1.48 lakh crore.
Innovations in top brands
Brands like Whirlpool, Bosch, Voltas, Hitachi, Blue Star, IFB, LG, Haier, Samsung, and Godrej are the most popular among Indian consumers, and provide consumer appliances at the most affordable prices. From smart TVs to smart refrigerators, our homes are getting automated at a rapid pace.
This is where brands are putting in most of their R&D money — artificial intelligence. The best smart TV in India does not require a remote control, as you can turn it on and off by giving voice commands. An example of such a smart TV is the new Sony Bravia KD-55X8000G LED TV, which was released last year, and has since taken the market by storm.
It has a 4K Ultra HD triluminos display with unique clear audio plus technology, making it the best smart TV available in the market today. LG TV also could be a better choice for the same features if you are restricted from your budget with Sony.
Another unique innovation is the convertible technology in refrigerators pioneered by Samsung, but Haier has taken it up a notch. The new Haier HEB-25TRF 8-in-1 convertible refrigerator has turned quite a few heads because of its innovative technology. Its features include:
- A total of 8 modes (normal, veg, home alone, freezer, vacation, surprise party, summer, and swift chill), and you can switch between these modes according to your needs and requirements.
- It has a Turbo Icing Technology, enabling it to bring down the freezer temperature in under 50 minutes.
- The unique feature, applauded by many in the Haier fridge review, is the diamond edge design which traps the cool air in such a way that it slows down the melting of ice and retains cooling for longer periods. This is especially helpful during power cuts which are commonplace in India.
- It also comes with a cooling pad which helps keep the food well frozen for hours, even when there is no electricity. These are bigger than the traditional ones which help keep food cooler for longer periods.
- This refrigerator has a 90-degree contour door design, which is a boon in places where the refrigerator door cannot be fully opened. The vegetable crisper drawers are also much bigger than the traditional models.
- The newer Haier refrigerator models have removable antifungal gaskets, i.e., a flexible elastic strip attached to the outer edge of the refrigerator, that helps insulate the cool air from the external heat. Routine cleaning of these gaskets ensures food protection.
Similarly, LG, Lloyd, and O General continue to spearhead innovations in the air conditioner segment, by rolling out with smart ACs that also come with embedded human sensors, smart Wi-Fi technology, and inverter compressors.
While TVs, ACs and refrigerators have evolved considerably since their first appearance, the same innovations are being done in other home appliance segments as well.