By 2025, it is expected that India is will become the fifth largest consumer durables market globally. The consumer durables industry is projected to double at 14.8% CAGR to reach approximately USD 12.5 billion in FY15 from USD 6.3 billion in FY10.
The Indian television market is shifting from the traditional cathode ray tube technology to LED, LCD and Plasma televisions. While in 2012 CRT sales stood at 7 million units and flat panels stood at 5 million units, in 2014 CRT sales were only 2.5 million units while flat panels sales stood at close to 9 million units.The flat panel TV market in India was valued at USD 3.55 billion in 2012 and is estimated to grow at a compound annual growth rate of 21.7% by 2015.
Factors such as increasing availability, affordable prices, increasing disposable incomes and rising number of nuclear families in is boosting the market. The presence of various multinational companies has increased the growth potential for the market, asthese players are focusing on building capabilities in the Indian market.
The key players are Samsung, LG Electronics, Sony Corporation,Videocon, PanasonicCorporation, Philips
