Durables also referred to as durable products or consumer durables, are items that do not have to be replaced frequently and generally endure for three years or more. Consumer durable goods stay long enough to purchase on a regular basis. Furnishings, automobiles, books, metal, and other consumer durable products are examples. In India, there are a number of consumer durables companies that make and supply such items. In the coming year, the sector's market will be worth around $3 trillion. So, here's a look at the top durable companies in India.
Types of Consumer Durables
White Goods: Air conditioners, dishwashers, clothes dryers, drying cabinets, freezers, refrigerators, kitchen stoves, water heaters, washing machines, microwave ovens, and induction cookers are examples of white goods.
Brown Goods: Microwave ovens, grinders, chimneys, electric fans, iron, mixers, and other similar cooking gadgets are examples of these types of commodities.
Consumer Electronics: VCD players, DVD players, MP3 players, mobile phones, telephones, and other similar items fall within consumer electronics products.
In India, a number of consumer durables companies make and distribute such items. In the year 2020, the industry's market was worth around $3 trillion. Apart from that, India is a fast developing country in the sector of technology.
Top 9 Consumer Durable Companies in India
1. Bajaj Electricals
Counted among one of the top consumer durable companies in India, Bajaj Electrical is a well-known brand. The Bajaj Group, situated in Mumbai, Maharashtra, was founded in 1926 and is the parent business of Bajaj Electricals. Kitchenware, ceiling fans, table fans, pedestal fans, exhaust fans, light bulbs, lanterns, and battery torches are just a few of the consumer products produced by Bajaj Electricals.
Bajaj Electricals' market capitalization as of August 2, 2021, is 13, 185.69 crores. Their products are all produced with cutting-edge technology. It has over 20 branch offices throughout the country. Bajaj sells its products in more than 5 nations, including the United Arab Emirates and the United Kingdom.
It is an Indian firm that produces Prestige brand kitchen gadgets and cookware. Pressure and induction cookers, mixer grinders, glass top, and electric cookers are some of their best-selling items. The TTK Prestige consumer durables division is part of the TTK Group, a commercial conglomerate that was created in 1928. TTK Prestige is well-known and respected.
Prestige is one of the top consumer durable companies in India. It has a market capitalization of 12,060 crores as of August 2, 2021. All of their items fall under the category of kitchen appliances, and roughly 60% of regular and repeat clients trust them. For its efforts in the field, the corporation was also awarded the power brand award.
3. Philips India
Philips India Ltd., headquartered in Amsterdam, is a Dutch multinational conglomerate. They are one of the world's leading consumer durables corporations. Radios, shavers, and lights, among other things, are well-known and frequently purchased. Clinical intelligence, imaging systems such as CT and MRI, diagnostic monitoring, and defibrillators are among their healthcare offerings.
Philips has taken a number of steps to improve environmental circumstances. Their inventions and new procedures have gained them notoriety, and they are now one of India's leading consumer durables enterprises.
4. Blue Star
Blue Star Limited is a well-known refrigerator manufacturer. In India, the firm is also the major manufacturer of air conditioning equipment. It also provides other services such as electrical drilling and plumbing. High-quality air coolers and purifiers have come from their firms' cutting-edge technologies.
With a network of 32 offices around the country, the annual income is around INR 5405 Cr. There is approximately 2800 employees total, with 3880 channel officers. They have a steady stream of corporate and commercial clientele.
The business segment and the after-sales segment are both included in their electromechanical project. Apart from that, their electronic and unitary products are among the best in the industry, making them India's leading consumer durables company.
Whirlpool corporation only entered India in the late 1980s through a partnership with the TVS group. They began producing and marketing washing machines in the union territory of Pondicherry, and now have facilities in Pune, Pondicherry, and Faridabad.
With a variety of items such as air conditioners, washing machines, refrigerators, and imaging equipment, their mission is to make happier households in the country. To assure customer pleasure, they have world-class dealers and retailers. With their state-of-the-art technology, they have reached new heights with their brand philosophy of serving clients from all over the world.
Voltas is one of the top durable companies in India that is a division of the well-known Tata group. The company is professional in establishing market leadership through creative solutions. It's a multibillion-dollar home appliance conglomerate known for its high-quality air conditioners and cooling systems. Their project businesses are divided into two sections. The domestic segment is one, and the foreign segment is the other.
To secure profitability, they deliver cutting-edge quality items. Air conditioners, air and water purifiers, water dispensers and cleansers, and other goods are among their most popular. A number of prestigious organisations had praised their work, and they had received numerous prizes.
Hitachi is a Japanese multinational corporation that ranks 129th among Fortune 500 firms worldwide. The induction motor was the company's first product. They produce and distribute a wide range of items, including automotive systems, construction machinery, defence systems, digital media products, and more.
Many hospitals throughout the world have purchased equipment from their electronic division, including particle treatment and cell therapy technology. Wires and cables are also bought and traded across borders. Hitachi is one of India's leading consumer durable enterprises, providing social and infrastructural system facilities such as elevators and escalators.
8. Orient Electric
In 2011, the company entered the consumer durables industry and has performed admirably since then. The company is well-known for its cutting-edge, market-leading products. Emergency LED lamps, inverter fans, and UV sanitary machines are just a few of them. It has won the prize for best corporate super-brand. Their main goal and ambition is to make items more accessible to people all over the world by ensuring profitable products.
9. Godrej and Boyce
With over 616 million active consumers in the country, Godrej has succeeded in performance since its inception. It has also aided in the expansion of India's economy and the development of its stakeholders. It is the first Indian firm to receive a nomination for the global cooling price.
According to projections issued in 2019-2020, their entire revenue is over INR 11,500 Cr. Lighting and security solutions are among their most trusted categories. With its foreign subsidiaries and affairs, the company has established global footprints on about five continents.
The company's current ROE value is 20.5 percent, and thousands of people are actively contributing to its growth. Many people have put their faith in the country's satellite launches and other aviation endeavours which makes it one of the best consumer durables companies in India.
The demand for a wide range of consumer durable products is steadily increasing in India, thanks to rising disposable income and technological advancements. As the price gap between the identical consumer goods produced by different companies narrows, this results in fierce competition among different consumer durable brands. These items are becoming less expensive by the day.
From US$ 6.3 billion in the 2010-11 fiscal year to US$ 12.5 billion in the 2015-16 fiscal year, the consumer durables market is predicted to grow at a 14.8 percent CAGR to US$ 12.5 billion in the 2015-16 fiscal year. According to the most recent data, it is predicted to grow by 9% by 2022, reaching US$ 48.37 billion.
What is a consumer durable company?
Consumer durable companies are companies that manufacture consumer durable goods that are bought in the long run. Goods like refrigerators, dishwashers, washing machines, fans, etc.
What are the top consumer durable companies in India?
Some of the best Consumer Durable companies in India are:
- Bajaj Electricals Ltd.
- Philips India Ltd.
- Blue Star Ltd.
- Whirlpool Corporation Ltd.
- Voltas Ltd.
- Hitachi Global
- Orient Electrical
What is an example of a consumer durable good?
Refrigerators, automobiles, furniture, household appliances, washing machines, and mobile homes are some examples of consumer durable goods.