In 2022, LG held the leading position in the Indian refrigerator market with more than 30 percent of the market share. It was followed by Samsung with 29 percent of the market share. It was estimated that the revenue in this segment amounted to 14.74 billion U.S. dollars during the same year.

India Refrigerator Market is projected to reach USD 12.09 billion by 2033, growing at a CAGR of 9.37% from 2025-2033.

India Refrigerator Market was valued at USD 3.64 Billion in 2024 and is anticipated to grow with a CAGR of 10.2% through 2030.

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Market Size	2024: USD 3.64 Billion
Forecast Market Size	2030: USD 6.51 Billion
CAGR	2025-2030: 10.2%
Fastest Growing Segment	Smart
Largest Market	North
Key Players	1. LG Electronics India Private Limited 2. Samsung India Electronics Private Limited 3. Godrej & Boyce Manufacturing Company Limited 4. Whirlpool Of India Limited 5. Haier Appliances (India) Private Limited 6. Hitachi India Private Limited 7. Panasonic India Private Limited 8. Blue Star Limited 9. Bosch Limited 10. Siemens Limited

The production volume of refrigerators stood at over 12 million units across India in fiscal year 2020. That year, the market value of refrigerators across the south Asian country was forecast to be over 3.5 billion U.S. dollars. Refrigerators made up a share of 27 percent of the consumer appliance market. The domestic electronics industry was expected to increase at a compound annual growth rate of nine percent by 2022.

The growth of consumer durables

Increased electrification of rural areas created a higher demand for refrigerators and air conditioners across the subcontinent. The penetration rate of consumer goods was substantially lower in India than the global average. With huge potential for expansion in the rural areas and a 100 percent FDI possibility in the electronics manufacturing sector, significant investments from foreign players came through. A National Electronic Policy was also passed early 2019 to boost production.

Steady demand and supply

A growth rate of over five percent was observed in consumer durables production in fiscal year 2019. Recent FDI policies are likely to make better quality products available at lower prices by eliminating the middlemen from the supply chain. The demand for consumer durables is likely to remain unaffected by the coronavirus (COVID-19).

Asia Pacific Household Side by Side Refrigerator Market Report is segmented on the basis of by type (under 15 cu.ft., 15-20 cu.ft., 20-25 cu.ft., and above 25 cu.ft.), by distribution channel (hypermarkets/supermarkets, specialty stores, online, and offline), by country (China, India, Japan, South Korea, Australia, and Rest of Asia-Pacific). The market size and forecasts are provided in terms of value (USD) for all the above segments.

In 2024, the Indian refrigerator and freezer market decreased by -1.3% to $4.1B, falling for the second year in a row after three years of growth. In general, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the market value increased by 9.5% against the previous year. Refrigerator and freezer consumption peaked at $4.5B in 2012; however, from 2013 to 2024, consumption failed to regain momentum.

Household Side by Side Refrigerator Market Report is Segmented by Type (Under 15 Cu. Ft. , 15-20 Cu. Ft. , 20-25 Cu. Ft. , and Above 25 Cu. Ft. ), by End User (Residential and Commercial), by Distribution Channel (Multi Branded Stores, Supermarkets/ Hypermarkets, Exclusive Stores, Online and Other Distribution Channels), and by Geography (North America, the USA, Canada, and the Rest of North America). The Report Offers Market Size and Forecasts for the Household Side by Side Refrigerator Market in Value (USD) for all the Above Segments.

The mini refrigerator market is estimated to be valued at US$ 1.47 billion in 2023 and is expected to reach US$ 3 billion by 2033. The adoption of mini refrigerator is likely to advance at a CAGR of 7.4% during the forecast period.

Attribute	Details
Estimated Market Size 2023	US$ 1.47 billion
Projected Market Size 2033	US$ 3 billion
CAGR through 2023 to 2033	7.4%

Report Scope

Attribute	Details
Market Value in 2023	US$ 1.47 billion
Market Value in 2033	US$ 3 billion
Growth Rate	CAGR of 7.4% from 2023 to 2033
Base Year for Estimation	2022
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in US$ billion and CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Product Price Range Capacity End-User Sales Channel Region
Regions Covered	North America Latin America Western Europe Eastern Europe South Asia and Pacific East Asia Middle East & Africa
Key Countries Profiled	United States Canada Brazil Mexico Germany United Kingdom France Spain Italy Poland Russia Czech Republic Romania India Bangladesh Australia New Zealand China Japan South Korea GCC Countries South Africa Israel
Key Companies Profiled	The Whirlpool Corporation Samsung Electronics Videocon Industries Godrej Appliances LG Electronics Haier Group Corporation Electrolux AB Panasonic Corporation Sieens AG AB Company Highsense Infotech Zhongke Meiling Cryogenics Co. Ltd Danby Appliances Inc. Whynter LLC Engel Koolatron Corporation Dometic Group AB EdgeStar Appliances Company Midea Group Uber Appliance Company
Customization& Pricing	Available upon Request

This statistic represents the penetration rate of refrigerator market in India from 2005 to 2016 with an estimate for 2026. The penetration rate of refrigerator market across the country is estimated to increase to 47.5 percent in 2026, up from about 27.3 percent in 2016.

In 2017, the amount of compression-type built-in refrigerators imported into India amounted to X units, moving up by X% against the previous year. In general, compression-type built-in refrigerators imports continue to indicate a remarkable expansion. The growth pace was the most rapid in 2017, when it surged by X% from the previous year.

India Refrigeration Parts Market size was valued at USD 1,010.44 Million in 2023 and is projected to reach USD 1,470.44 Million by 2031, at a CAGR of 5.57% from 2024 to 2031.

India Refrigeration Parts Market Overview

India’s rapid urbanization, coupled with a growing middle-class population and rising disposable incomes, has significantly boosted the demand for refrigeration systems. This surge is particularly evident in residential, commercial, and industrial sectors, including food retail, pharmaceuticals, and cold chain logistics. The increasing need for cold storage facilities and advanced refrigeration technologies to support the booming e-commerce and grocery delivery sectors further accelerates market growth. As consumer preferences shift towards convenience and quality, the demand for reliable and efficient refrigeration components continues to expand.

In financial year 2020, the offline market for refrigerators in India reached 220 billion Indian rupees. The more popular type of fridge was direct cool with more than 130 billion Indian rupees at 61 percent of the market. The dominant players of this market were LG and Samsung, followed by Whirlpool, Godrej, and Haier.

In 2017, approx. X units of household-type refrigerators were imported into India; moving up by X% against the previous year. Overall, household-type refrigerators imports continue to indicate a remarkable growth. The most prominent rate of growth was recorded in 2017, when it surged by X% against the previous year.

The minibar refrigerator industry is likely to undergo a notable growth, driven by the expanding trend of hospitality sector, progressive use of energy-efficient appliances, and evolving consumer choices. The market is anticipated to increase from USD 374 million in 2025 to USD 538 million by 2035, with a compound annual growth rate (CAGR) of around 3.7% during the forecast period.

Metric	Value
Industry Size (2025E)	USD 374 million
Industry Value (2035F)	USD 538 million
CAGR (2025 to 2035)	3.7%

Country-Wise Outlook

Country	CAGR (2025 to 2035)
United States	3.2%

Country	CAGR (2025 to 2035)
China	5.0%

Country	CAGR (2025 to 2035)
Germany	3.0%

Country	CAGR (2025 to 2035)
Japan	3.5%

Country	CAGR (2025 to 2035)
India	4.5%

Country	CAGR (2025 to 2035)
Australia	3.3%

Competition Outlook

Company Name	Estimated Market Share (%), 2024
Dometic	18-24%
Indel B SpA	14-20%
Minibar Systems	10-16%
ISM Makine Elektrik Sanayi	7-12%
Felix Starch (Summit Appliance)	5-10%
HISENSE	4-8%
TEFCOLD Group	3-7%
OMNITEC SYSTEMS S.L.	3-6%
Other Companies (combined)	30-40%

India Refrigerator Compressor Market is projected to reach USD 3,499.9 million by 2032, growing at a CAGR of 7.8% from 2024-2032.

The Indian refrigerator compressor market rose rapidly to $1.7B in 2024, growing by 7.8% against the previous year. Over the period under review, consumption showed a strong increase. Over the period under review, the market reached the peak level at $1.7B in 2021; afterwards, it flattened through to 2024.

In 2022, the cooker and oven market in India reached 14.67 billion U.S. dollars, taking the leading position within white goods market. It was followed by refrigerator market at 9.7 billion dollars. As an emerging economy, the white goods market in India is expected to grow in the foreseeable future.

The refurbished appliance market share is estimated to expand at a CAGR of 13.60% over the assessment period. In 2024, the market is expected to generate a revenue worth US$ 9,809.5 million. By 2034, the market size is forecast to expand to US$ 35,109.9 million.

Attributes	Key Insights
Market Size in 2024	US$ 9,809.5 million
Market Value in 2034	US$ 35,109.9 million
Value-based CAGR from 2024 to 2034	13.60%

2019 to 2023 Historical Analysis vs. 2024 to 2034 Market Forecast Projections

Historical CAGR (2019 to 2023)	13.10%
Forecasted CAGR (2024 to 2034)	13.60%

Country-wise Analysis

Countries	Forecast CAGRs from 2024 to 2034
The United States	8.40%
Germany	9.10%
China	15.90%
India	16.70%
Japan	16.20%

Category-wise Insights

Category	Market Share
Home Appliance	59%
Commercial	53.4%

Report Scope

Attributes	Details
Estimated Market Size in 2024	US$ 9,809.5 million
Projected Market Valuation in 2034	US$ 35,109.9 million
Value-based CAGR 2024 to 2034	13.6%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	Value in US$ million
Key Regions Covered	North America Latin America Western Europe Eastern Europe South Asia and Pacific East Asia The Middle East and Africa
Key Market Segments Covered	Product Type End User Sales Channel Region
Key Countries Profiled	The United States Canada Brazil Mexico Germany The United Kingdom France Spain Italy Russia Poland Czech Republic Romania India Bangladesh Australia New Zealand China Japan South Korea GCC countries South Africa Israel
Key Companies Profiled	Reebelo Back Market Amazon Renewed Best Buy Outlet Walmart Renewed eBay Refurbished Newegg Renewed RefurbKing FactoryPure Sears Outlet Wayfair Outlet B&H Refurbished Appliance AJ Madison Outlet Costco Renewgoo

The Indian refrigerator or freezer market skyrocketed to $17M in 2024, jumping by 22% against the previous year. Overall, consumption, however, recorded a mild decline. Over the period under review, the market reached the maximum level at $22M in 2015; however, from 2016 to 2024, consumption remained at a lower figure.

The volume of the household appliances market in India was forecast to continuously increase between 2024 and 2029 by in total 72.7 million pieces (+16.81 percent). After the tenth consecutive increasing year, the indicator is estimated to reach 505.15 million pieces and therefore a new peak in 2029. Notably, the volume of the household appliances market was continuously increasing over the past years.Find further information concerning the average volume per household in the 'Small Appliances' segment of the household appliances market in Angola and the revenue in the 'Major Appliances' segment of the household appliances market in Indonesia. The Statista Market Insights cover a broad range of additional markets.