India Refrigerator Market Report and Forecast 2025-2034

The India refrigerator market reached approximately USD 31.50 Billion in 2024. The market is projected to grow at a CAGR of 7.80% between 2025 and 2034, reaching a value of around USD 66.76 Billion by 2034.

India Refrigerator Market Outlook
India predominantly imports refrigerators from countries it has a free trade agreement with, such as Bangladesh, Thailand, Indonesia, and South Korea.
In August 2023, Godrej Appliances introduced 'Edge Neo', the most energy-efficient refrigerator in India which consumes only 99 units per year.
Between April to November 2022-2032, the export of refrigerators, freezers, and other refrigerating solutions in India amounted to USD 140.97 million.

India Refrigerator Market Growth

The electronics sector in India has witnessed remarkable expansion in recent years, fuelled by a combination of growing local manufacturing and substantial imports to cater to the increasing demand. With the support of government initiatives and a developing ecosystem, the nation aims to establish itself as a key player in global electronics manufacturing. Electronics production in India reached Rs 640,810 crore in the fiscal year 2021-22 (equivalent to US $80 billion). Additionally, India possesses excess manufacturing capacity for refrigerators. Due to existing free trade agreements with selected nations, specific products are being brought in at reduced duties. As of June 2022, India's production capability of refrigerators stood at 23 to 24 million units annually, with imports accounting for approximately 8% of total sales.

The modernisation of kitchens with contemporary appliances has encouraged consumers to lean towards refrigerators that offer advanced features like frost-free technology, energy efficiency, smart connectivity, and multiple door options. Technological advancements have resulted in the creation of energy-efficient refrigerators, appealing to those who want to lower their electricity costs. The inclusion of smart features such as digital touch panels, Wi-Fi connectivity, and AI-driven functionalities is gaining traction among consumers who are tech-savvy.

India Refrigerator Market Segmentation

“India Refrigerator Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Technology:

Inverter
Non-Inverter

Market Breakup by Product Type:

French Door
Top Freezer
Bottom Freezer
Others

Market Breakup by Capacity:

Less than 100L
100L to 200L
200L to 300L
More than 300L

Market Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Speciality Stores
Online Channels
Others

Market Breakup by Region:

East India
West India and Central India
North India
South India

India Refrigerator Market Share

Based on application, the market is segmented into French Door, top freezer, and bottom freezer, among others. French door refrigerators are expected to grow at a CAGR of 8.6% between 2025 and 2034 as they boast stylist designs, enhance convenience of users, and offer flexible storage options.

Leading Companies in the India Refrigerator Market

Major players are focusing on the production of smart and energy efficient refrigerators to gain a competitive edge in the market.
Whirlpool Corporation
Electrolux AB
Panasonic Holdings Corporation
Samsung Electronics Co., Ltd.
LG Corporation
Godrej & Boyce Manufacturing Company Limited
Haier Inc.
Robert Bosch GmbH
Johnson Controls International plc
Tata Group
Others