Appliances & consumer electronic mkt to double to Rs 1.5 trn by FY25: CEAMA

The appliances and consumer electronics industry is projected to double to Rs 1.48 lakh crore by 2024-25, according to a report.

The market is expected to see acceleration in growth on account of surging rural consumption, reducing replacement cycles, increasing penetration of retail, a wide choice of brands and products at various price points, it added.

The industry had a total market size of Rs 76,400 crore in 2018-19, in which Rs 32,200 crore was contributed from domestic manufacturing, according to the joint report by CEAMA and Frost & Sullivan.

The report is based on product categories, which include air conditioners, refrigerators, washing machines, television (TV) and audio.