A refrigerator is an appliance that cools an area, generally food, beverages and vaccine storage. Arefrigerator (or fridge) can be powered by electricity, propane, gas. The refrigerator has been manufactured in India since the 1950s. The refrigerator holds only 16% of consumer durable market that is valued at around Rs.20000-25000 crore in India. The\u00a0refrigerator price in India<\/a>\u00a0has the highest aspirational value of all consumer durables except for television.<\/p>\n

The Statistics<\/strong><\/p>\n

The domestic penetration rate is considered to be 9%. The penetration rate in Urban areas is considerably higher which accounts for 75% of the demand, with rural areas constituting the other 25%. The demand is also higher in the northern and western parts of the country than in the east. The India Refrigerator market increased with a CAGR of 15.70% from 2010-2014 and is expected to grow more in upcoming years.<\/p>\n

Various companies are competing against each other earlier when the refrigerator was a new preserving and cooling appliance the demand and the price of a refrigerator in India were a bit high but nowadays due to variations available in the market the prices have decreased. One out of 3 people buy a refrigerator, people in remote areas cannot afford this cooling appliance and some think that it is not that necessary appliance for a day to day life, that\u2019s why the demand is high in urban areas as compared to the rural area.It is expected to grow in the upcoming years. Refrigerator constitutes the second largest product segment within the Indian consumer durable sector in India.<\/p>