When you think about India’s rapidly expanding economy, it’s hard not to consider the significant role played by consumer durable companies. These enterprises manufacture long-lasting goods that provide value over an extended period, such as appliances, electronics, furniture, etc. They’ve been instrumental in shaping the country’s industrial landscape while meeting the growing demands of India’s burgeoning middle class.
In this ever-evolving market, there’s a variety of businesses, each offering their distinct contributions. Some have carved out unique niches for themselves through innovative products or exceptional services. Others have built reputations based on reliability and long-standing tradition.
We’re here to shed some light on that very topic. In this article, we’ll be exploring the top 10 consumer durable companies in India – those that have truly set themselves apart from the rest with their unwavering commitment to quality and customer satisfaction. So, let’s dive into this intriguing world of durability, innovation, and industry leadership.
Consumer Durables Industry in India
- The consumer durables market in India was estimated at $9.85 billion in 2021 and is expected to reach $21.2 billion by 2025
- The industry grew at a 3-year CAGR of 12% from FY20 to FY23
- The smart TV market grew 74% YoY in Q2 2022, with Xiaomi at 13% and Samsung at 12% market share.
- The dishwasher market is expected to surpass $90 million by 2025-26, driven by demand in metro cities
- Companies are developing manufacturing bases in India and encouraging exports
- Focus on expanding in the Indian intelligent wearables market.
- India aims for $300 billion in electronics manufacturing and $120 billion in exports by 2026
- 100% FDI allowed in electronics hardware manufacturing
- 14 companies approved under the PLI scheme for IT hardware
- Demand is lukewarm, mainly in Q1 2022, despite hopes of a rebound
- Rural demand is looking better than that in urban areas.
- The industry is currently in a festive period, which sees a surge in demand
- Whirlpool dominates the household appliances market.
- Industry expected to fuel India’s $5 trillion economy target
This sector’s growth is paralleled by other industries, such as electric vehicle manufacturing companies in India, which are also experiencing rapid expansion.
Consumer Durable Companies in India
- Samsung Electronics
- LG Electronics
- Whirlpool of India
- Panasonic India
- Godrej Appliances
- Voltas
- Blue Star
- Haier Appliances India
- Hitachi
- Sony India
| Company Name | Revenue in 2022 (INR crores) |
|---|---|
| Samsung Electronics | 85,325 |
| LG Electronics | 17,171 |
| Whirlpool of India | 5,990 |
| Panasonic India | 11,000 (Approx.) |
| Godrej Appliances | 5,500 (Projected for 2022-23) |
| Voltas | 7,850 |
| Blue Star | 6,045 |
| Haier Appliances India | 6,000 (Approx.) |
| Hitachi | 84,136 crores |
| Sony India | 6,684 |
1. Samsung Electronics
Let’s talk about Samsung Electronics. With a revenue of ₹85,325 crores and a profit of ₹3,844 crores, it’s a global giant in the electronics industry. It employs around 266,673 people worldwide, with approximately 75,000 employees based in India.
Samsung’s product portfolio is varied and impressive. From smartphones to television sets and from home appliances like refrigerators and air conditioners to memory chips and processors – they’ve got it all covered! Not forgetting their display panels that are sought after by some big names, including Apple and Best Buy.
Based out of Suwon in South Korea, Samsung has made its mark globally with several significant achievements under its belt. They’re the world’s largest manufacturer of mobile phones, smartphones, and televisions for an incredible 14 consecutive years! They also rank second in semiconductor chip manufacturing worldwide.
Some notable projects that have seen Samsung rise above include partnerships with tech titan Apple to manufacture iPhone processors. In addition, they’ve joined forces with BMW, Hyundai Motor and Audi on next-gen automotive technologies that promise exciting developments for future mobility.
A bit about their history – founded in 1969 in Suwon itself, Samsung dived into the electronics industry by the late 1970s, starting with black-and-white TVs. By the time we hit the 1990s and early 2000s, they had firmly established themselves as a significant player on the global electronics scene.
Samsung has genuinely dominated specific markets, displaying an unrivalled command over share percentages. They stand at the number one spot in the global smartphone market, boasting a hefty 23% share along with owning over a whopping 30% share in the global TV market!
Investment in Research and development is also integral to their success story. Samsung committed ₹55,650 crores towards R&D just in 2022 and employs around 50,000 researchers across the globe. This investment is clearly paying off – Samsung bagged 71 awards at the iF Design Awards in 2022 alone and was named among the top 100 global innovators by Clarivate.
Samsung’s expansive reach is further bolstered by its subsidiaries and acquisitions. Harman International was bought in 2017 for a cool $8 billion while retaining a majority stake of around 63% in Samsung Biologics, which went public in an IPO in 2020.
Last but not least, well-known faces such as Bollywood actors Alia Bhatt, Varun Dhawan and Indian cricketer Virat Kohli are associated with the brand as ambassadors, adding to its appeal and recognition among consumers. So there you have it – Samsung Electronics: a symbol of success, innovation and durability.
2. LG Electronics
LG Electronics, a global pioneer in technology, has demonstrated impressive growth and innovation since its inception in 1958. Initially introducing Korea’s first household electronics, the company has transformed daily routines around the world.
LG Electronics’ extensive product portfolio spans from TVs and home entertainment systems to kitchen and laundry appliances. The company also ventures into air conditioning solutions and solar technology. Catering to a diverse clientele base, they serve various sectors such as lodging and hospitality, digital signage, systems integration, healthcare education, government, and industrial markets.
FY22 saw LG Electronics India recording a total income of ₹17,171.3 crores in revenue generation. This substantial figure translated into an after-tax profit amounting to ₹1,174.7 crores.
| FY22 | Total Income (₹ Crore) | Profit After Tax (₹ Crore) |
|---|---|---|
| 2022 | 17,171 | 1,174 |
Globally, as of 2022, the company boasts a strong workforce of around 34.6 thousand employees contributing to their operations worldwide.
As part of its commitment to revolutionising consumer technology experiences, LG invests heavily in research and development across its wide range of electronic products, helping customers further enrich their lives.
They have received numerous accolades throughout the years for their excellence in design and functionality, including being named ‘Best TV Brand 2022’ for the seventh year running by CHOICE, an Australian independent consumer review organization.
Notably, LG Electronics holds the title as the world’s second-largest TV manufacturer behind Samsung Electronics, demonstrating significant market share dominance within this industry sector.
Apart from organic growth through stellar product offerings, LG expanded its footprint through acquisitions, acquiring companies like Zenith and enhancing its technological prowess further.
With 128 operations worldwide, including its North American Innovation Centre, LG NOVA, LG continues to lead the way in digital health, metaverse technology and electric mobility.
3. Whirlpool of India
Let’s talk about Whirlpool of India. This titan of the consumer durables industry reported a revenue of ₹5,990.28 crores and a net profit of ₹222.85 crores in the financial year 2022. A team boasting 1,883 employees plays an instrumental role in this success.
These experts craft state-of-the-art home appliances such as refrigerators, washing machines, air conditioners and microwave ovens, plus small appliances that make daily our lives easier.
Who benefits from these cleverly designed products would be households and businesses who trust brands like Whirlpool, KitchenAid, Maytag, Consul and others under their vast portfolio.
| Financial Year | Revenue (in Crore) | Net Profit (in Crore) |
|---|---|---|
| 2022 | ₹5,990 | ₹222 |
With its headquarters nestled in Gurugram, Haryana – this household name is also one of our country’s most significant exporters of home appliances! They’ve got three world-class factories manufacturing a wide variety of refrigerators and washing machines for local and international markets.
In terms of historical milestones, it’s worth mentioning that Whirlpool first set foot on Indian soil back in the late ’80s through a joint venture with TVS Group. Fast-forward to 1995, they started making fridges locally before merging with Kelvinator and TVS to form what we know today as Whirlpool of India – adding microwaves and air conditioners to their product line-up.
Their market share speaks volumes about the brand’s popularity nationwide, with consumers showing unwavering faith in their quality products year after year.
Research and development are key to their ongoing success. They’ve got Global Product Development Centres right here in India, where a dedicated team of engineers and technicians work tirelessly to create new product designs for local and global markets.
Whirlpool of India has been the proud recipient of several awards, including the Superbrands award and not just once but year-on-year recognition as a Great Place To Work!
In terms of growth strategy, recent years have seen the company expand its portfolio through acquisitions like that of Elica PB, a leading kitchen appliances maker, during the financial year 2021-22.
4. Panasonic India
A prominent player in the Indian consumer durables market, Panasonic is a name that’s both respected and recognised. Having established its presence back in 1972, this Japanese giant has been consistently offering top-notch products to Indian consumers for decades now.
With revenues hovering around the 11,000 crore mark, it’s clear that Panasonic’s product range has found considerable acceptance in the country. With a strong workforce of approximately 2,500 employees and an impressive array of offerings under its belt, you can bet they’re doing well.
Speaking of their product range, Panasonic covers a broad spectrum. There’s something for everyone, from consumer electronics like TVs and air conditioners to lighting solutions and batteries. Of particular note is their Anchor brand, which deals with electrical components.
Panasonic India operates out of Gurgaon in Haryana; however, its impact is felt nationwide thanks to an estimated market share of around 10%. This isn’t surprising considering some key projects and partnerships they’ve clinched over the years, such as their tie-up with Dixon Technologies for manufacturing washing machines locally.
A whopping investment of about 520 billion Yen was made towards global research & development in 2022 alone.
Panasonic’s efforts haven’t gone unnoticed, though – they were crowned ET Iconic Brand of the Year in 2019! Globally speaking, parent company Panasonic Corporation does boast about having approximately 580 subsidiaries.
No discussion about Panasonic would be complete without mentioning their very notable brand ambassador – actress Kangana Ranaut! The star power adds another layer of appeal to this already well-established brand.
5. Godrej Appliances
Making a significant mark in the consumer durables sector, Godrej Appliances targets an impressive turnover of ₹5,500 crores for 2022-23. Notably, a substantial 35% of their sales is projected to come from their premium range of products. The company has invested heavily into its premium portfolio range with an injection of ₹250 crores, further demonstrating its commitment to high-end product offerings.
| Revenue and Profit | Number of Employees |
|---|---|
| Targeted turnover of ₹5,500 crores (2022-23) | 47 |
Godrej Appliances is more than just a profit-making entity. It’s home to an incredible workforce as well. Back in 2016, the parent group boasted around 28,000 employees, with Godrej appliances accounting for 47, according to RocketReach.
Based out of Mumbai, India – the headquarters of Godrej Appliances – they’ve carved a niche for themselves by offering a wide variety of products spanning across refrigerators, washing machines, air conditioners and more! Their pioneering work dates back to 1958 when they stepped into the refrigeration space, introducing innovative products like Surechill, which revolutionised vaccine storage.
Despite being established over six decades ago in 1958 as part of the more giant Godrej Group conglomerate, they’ve maintained their focus on research and development with notable investments such as ₹200 crores towards capacity expansion at their Shirwal plant located near Pune.
Godrej Appliances received Gold at the India Health and Wellness Awards 2020 by the IHW Council for its role in shielding India against COVID-19.
These companies’ innovation and market presence are akin to the achievements of paper manufacturing companies in India, which have also made significant strides in their respective sector.
6. Voltas
Having laid its foundation stone on September 6, 1954, Voltas has grown to become a market leader in the domestic AC business in India. A collaborative venture between Tata Sons and Volkart Brothers, this Mumbai-based company reported a whopping total revenue of ₹7,850.12 crores and a net profit of ₹669.83 crores in 2022.
| Year | Revenue (in Crore) | Profit (in Crore) |
|---|---|---|
| 2022 | ₹7,850 | ₹669 |
With over 8,800 employees under its roof, it’s not surprising that Voltas caters to households, commercial establishments and even government institutions with an extensive range of cooling solutions. Some of their prime offerings are room air conditioners, air coolers and purifiers, water dispensers and coolers, commercial refrigeration products, and MEP (Mechanical Electrical Plumbing) and HVAC (Heat Ventilation Air Conditioning) solutions.
Voltas doesn’t restrict itself within national boundaries either – they’ve also made noteworthy international strides. To the towering Burj Khalifa or the once-largest ocean liner RMS Queen Mary 2, Voltas took up the challenge for their air conditioning projects! And it seems April showers bring them more than just May flowers – they recorded triple-digit volume growth in April 2022!
Moreover, they don’t shy away from responsibilities towards society at large. Their close association with Central and State Governments for various rural electrification & water projects is commendable indeed! Not to mention their role as one of the leading MEP contractors in GCC countries like UAE, Oman, Qatar, and Bahrain.
An exciting facet about Voltas is that they leverage Industrial IoT to enhance customer service operations as well as enable centralized HVAC equipment monitoring. With a rich history, a strong presence in the market, and an unflinching commitment to innovation and service, Voltas is indeed stamping its authority as one of India’s top consumer durable companies.
7. Blue Star
Let’s dive right into the world of Blue Star, one of India’s leading consumer durable companies. Founded way back in 1943, they’ve established a significant presence across both residential and commercial sectors. They’re an undeniable force in their industry with a revenue of 6,045 crores and a profit margin that hits the 168 crore mark.
Blue Star boasts an extensive product line-up that includes air conditioners, refrigeration products, cold chains, packaged air conditioning systems, air purifiers, and water purifiers. They’re not confined to producing goods either; their services also encompass engineering facilities management.
Their customer base is diverse. Residential customers are catered to with top-quality home appliances, while commercial establishments such as hotels, hospitals and banks benefit from their reliable HVAC solutions.
Despite being headquartered in Mumbai, Maharashtra, Blue Star has spread its wings far beyond Indian borders. They have R&D centres located in India, Thailand and Malaysia, where innovation never sleeps – particularly when it comes to prioritising energy efficiency and green technology.
The company holds an impressive market share within its industry; it claims a 12% share of the residential AC market in India, dominating over half the market for commercial refrigeration!
Blue Star actively seeks out partnerships to expand its reach even further. Their tie-up with Hitachi now sees them manufacturing commercial air conditioners in India, while a strategic partnership with FM Logistics bolsters their cold chain solutions portfolio.
They’ve also got some notable achievements under their belt! Market leaders in many categories of commercial refrigeration and HVAC systems; among the top three air conditioning companies nationwide boasting over one million residential installations.
This success has been rewarded too: National Energy Conservation Award winners twice over (2016 & 2018) plus Golden Peacock Award for Quality (1998) recipients.
Over 2800 dedicated employees put in their hard work day after day to keep Blue Star running smoothly. Key figures include Vice Chairman and Managing Director Vir S Advani.
Blue Star’s growth isn’t just organic; they’ve made some savvy acquisitions along the way, too. Subsidiaries now include Blue Star Engineering & Electronics Ltd, Blue Star Qatar WLL, and Blue Star International FZCO.
So there you have it – an insightful snapshot into one of India’s top consumer durable companies: Blue Star!
8. Haier Appliances India
Let’s dive into the world of Haier Appliances India, a significant player in the Indian consumer durables market. With approximately Rs 6,000 crores (Rs 60 billion) in revenue and a workforce of around 3,646 employees, it’s clear to see why they’re leading the pack. New Delhi is the home base for this top-tier company that offers an abundant selection of products: refrigerators, air conditioners, washing machines, LED TVs, and water heaters.
Haier has consistently held its position as the world’s no.1 brand in major appliances for a staggering 14 consecutive years! They also hold their own among the top three brands in India when it comes to refrigerators, air conditioners and washing machines. Haier has partnered with Reliance Digital stores to sell its outstanding range of products.
The company made its mark on Indian soil back in 2004 and has since become a wholly-owned subsidiary of China’s Haier Group Corporation. Their influence spreads far beyond India, with GE Appliances under their wing in America and Fisher & Paykel in New Zealand.
Their impressive market share puts them amongst India’s top three consumer durable brands. To keep constant innovation flowing through every product they release onto the market, globally they run ten research & development centres.
The company’s strategic business approach can be compared to the growth trajectories of jute manufacturing companies in India, who are also making their mark in a competitive market.
Haier takes pride in its sales figures and how consumers perceive them. They’ve been ranked among the Most Trusted Brands within India – indeed a commendable achievement! The charismatic actor Ranveer Singh helps them reach wider audiences as their Brand Ambassador.
With such an impressive track record, it’s no wonder that Haier is a household name when it comes to consumer durables in India!
9. Hitachi
A giant in the world of consumer durables, Hitachi has made a name for itself worldwide. The Tokyo-based company hit a staggering revenue of 10,264.6 billion yen (that’s over 84,136 crores). With around 320,000 employees working tirelessly to maintain its high standards, Hitachi’s range extends from information technologies and energy solutions to industry mobility and intelligent appliances.
Founded back in 1910 and listed on the Tokyo Stock Exchange by 1949, this century-old corporation has been innovating since day one. It’s worth noting that from around 400 subsidiaries in 2008, they streamlined their operations down to about 200 by the end of ten years.
A significant part of their achievement lies in developing Lumada solutions — a suite explicitly designed for digital transformation. This highlights their commitment towards leveraging data and technology for building a sustainable society — a key focus area of their research and development initiatives.
Hitachi’s noteworthy partnerships have further solidified its place among top contenders. A shining example is their joint venture with Arçelik, which significantly boosted the sales of home appliances across the Asia-Pacific region.
They’ve been named repeatedly in both Fortune Global 500 and Forbes Global 2000 rankings — testimony to their consistent performance year after year.
Here are some key facts about Hitachi:
| Factor | Details |
|---|---|
| Revenue | ¥10,264.6 billion (₹84,136 crores) |
| Employees | Around 320k |
| Products/Services | ITsolutions; Energy; Industry Mobility; Smart Appliances |
| Headquarters | Tokyo(Japan) |
Innovation remains at heart as this Japanese powerhouse continues setting new benchmarks while improving lives globally through its wide array of products.
How are Consumer Durable Companies in India Adapting to the Rise of Electric Vehicles in the Country?
Consumer durable companies in India are closely monitoring the rise of electric vehicles in the country. Many of the top electric vehicle manufacturing companies are working on strategic partnerships with these consumer durable companies to adapt to the changing landscape and offer products that cater to the growing market of electric vehicle owners.
10. Sony India
Let’s dive straight into the world of Sony. A renowned name in consumer electronics, Sony India has established itself as a leader in its sector. The company saw revenues amounting to ₹6,684 crores in FY23. Despite a minor decline of 0.66% compared to the previous year, they’ve managed an impressive feat – their net profit grew by 11%, reaching ₹1,042 crores.
Sony’s global workforce is a staggering 109,700 strong as of 2020; back home in India, the team numbered around 900 back in 2013. The heart of this corporation beats from its headquarters nestled comfortably in New Delhi.
The strength and success of Sony lie within its diverse range of products and services on offer. From televisions and home theatre systems to cameras and professional audio solutions – Sony has it all! Their clientele is just as varied, with individual consumers rubbing shoulders with retailers, corporate partners, and IT retail outlets when it comes to procuring their goods.
| Revenue (FY23) | Net Profit (FY23) | Number Of Employees |
|---|---|---|
| ₹6,684 crores | ₹1,042 crores | 900 |
They command significant market shares across various categories. They’re leading the charge with an impressive 78% share in active noise-cancellation headphones alone! Additionally:
- Soundbars priced above ₹15,000, they hold a whopping 56% share.
- Party speakers over ₹15k; that’s another solid 33% stake.
- True wireless earbuds beyond five grand, yet again, they claim a respectable slice at 21%.
Voice AI agent Isha was launched recently through an exciting partnership with Yellow.ai.
Born in 1994 as a subsidiary of Sony Corporation, Japan, Sony India has come far. They were recognised with the Avaya Globalconnect Customer Responsiveness Award in 2006 and continue to innovate through research and development initiatives from their parent company.
They gain plenty by association – areas such as imaging, robotics and AI are all part of the global R&D agenda. Furthermore, it’s worth noting that Sony India is a 100% subsidiary of its Japanese counterpart.
Conclusion on Consumer Durable Companies in India
India’s consumer durable industry is a hive of activity. Over the years, companies have risen to prominence through their commitment to quality and innovation. You’ve studied the top ten of these powerhouses in this article.
What stands out about these companies is their ability to meet consumer needs consistently. They’ve also shown resilience during economic downturns and adaptability in the face of technological changes.
Similar to these consumer durables companies, speciality chemical companies in India are also contributing significantly to the country’s industrial growth.
Remember, India’s consumer durable industry is dynamic. Keep an eye on this space – there are bound to be exciting developments in the future.
