Refrigerators are a necessity in every home, and with the increasing popularity of online shopping, the demand for refrigerators is only going to increase. In this article, we will look at the market segmentation of refrigerators in India, and how different companies are catering to different parts of the market.
Market Segmentation: Type I
The refrigerator market in India is segmented according to type. The market is divided into type I and type II refrigerators.
Type I refrigerators are small, compact, and affordable. They are used for storing fruits and vegetables, milk, and other perishables. Type II refrigerators are larger, more expensive, and are used for storing dry goods such as cereals, meats, and dairy products.
Market Segmentation: Type II
In India, refrigerators come in two basic types- type II and type III. Type II refrigerators are the most common, with around two-thirds of all refrigerators in the country being of this type. These refrigerators are usually smaller and less expensive than type III refrigerators, and they are used mainly to store food. Type III refrigerators are more common in Europe and America, and they are used to store food, drinks, and other items.
Market Segmentation: Type III
The refrigerators market in India is segmented into Type III. The three types are central air conditioners, side-by-side refrigerators and top-loaders. The central air conditioners segment is expected to grow at the highest rates due to increasing living standards and rising demand for cooling in offices and homes. The side-by-side refrigerator segment is expected to grow at a higher rate as consumers prefer this type of refrigerator because of its flexibility. The top-loaders segment is expected to grow at a slower pace as there is already an extensive market presence of these appliances.
Market Segmentation: Type IV
There are various types of refrigerators available in the Indian market, and each type has its own unique features and benefits.
Type I refrigerators are the most common type in the Indian market, and they are usually used to store food. They have a small capacity and are not very efficient, which is why they are not often chosen for large-scale use.
Type II refrigerators are slightly more efficient than Type I refrigerators, but they are still not as powerful as traditional iceboxes. They are most commonly used to store food that will not be consumed immediately, such as fruits and vegetables.
Type III refrigerators are the most powerful type of refrigerator available in the Indian market. They are typically used to store food that will be consumed immediately, such as meat and dairy products. They have a larger capacity than other types of refrigerators and are more efficient than traditional iceboxes.
Type IV refrigerators are typically used for industrial purposes, such as storing chemicals or pharmaceuticals. They have a very large capacity and are extremely efficient, which makes them ideal for this type of use.
In this article, we have analyzed the Indian refrigerator market and identified four major segments: affordable, mid-priced, premium and luxury. Based on this analysis, it is evident that thePremium segment will continue to grow at a rapid pace while the other three segments are expected to see moderate growth over the next few years. It is also important to note that refrigerators in India are not only used for storing food but are also being used as smart appliances for keeping homes cooler in summer and warmer in winter.