DUBLIN--(BUSINESS WIRE)--The "India Consumer Durable Finance Market, By Region, By Competition Forecast & Opportunities, 2019-2029" report has been added to ResearchAndMarkets.com's offering.
The India Consumer Durable Finance Market was valued at USD 1.21 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 21.85% through 2029, reaching USD 3.95 billion.
The India Consumer Durable Finance Market, also known as the consumer electronics finance market, is a vital component of the country's financial sector that facilitates the purchase of various consumer durables and electronics. These include products like refrigerators, washing machines, smartphones, televisions, laptops, and other household and personal electronic items.
The consumer durable finance market serves as a bridge between consumers and retailers, enabling consumers to access and afford high-value electronic products. Consumer durable finance provides individuals with the flexibility to spread the cost of purchasing expensive consumer electronics over a defined period. This makes these products more affordable for a broader section of the population.
Banks, non-banking financial companies (NBFCs), and retail companies offer various financing options, including personal loans and Equated Monthly Installments (EMI) schemes. Consumers can choose a repayment plan that best suits their financial situation. The digital transformation in the finance sector has led to the growth of online and app-based platforms that offer instant approval and paperless loan application processes, making it more convenient for consumers.
Many financial institutions have partnerships with consumer electronics retailers, making it easier for customers to access financing options at the point of purchase. The market is highly competitive, leading to competitive interest rates and terms. This benefits consumers by providing them with choices and the ability to select the best finance deals. The consumer durable finance market has evolved to include a wide range of products, from smartphones to high-end home appliances, catering to various consumer needs.
The market has incorporated technological advancements, such as instant credit approval, online application processes, and digital signatures, simplifying the financing process. The India Consumer Durable Finance Market is expected to continue growing, driven by increasing consumer aspirations for high-quality electronics and the convenience of flexible financing options.
The sector will likely see further digitalization and innovation, making the financing process even more straightforward and accessible to a wider audience. While challenges remain, the market's resilience and adaptability suggest a promising future for consumer durable finance in India.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 90 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $1.21 Billion |
| Forecasted Market Value (USD) by 2029 | $3.95 Billion |
| Compound Annual Growth Rate | 21.8% |
| Regions Covered | India |
Competitive Landscape
Company Profiles: Detailed analysis of the major companies presents in the India consumer durable finance market.
- Bajaj Capital Limited
- Birla Global Finance Limited
- Housing Development Finance Corporation
- ICICI Group
- LIC Finance Limited
- L & T Finance Limited
- Mahindra & Mahindra Financial Services Limited
- Muthoot Finance Ltd
- Cholamandalam
- Tata Capital Financial Services Ltd
Report Scope
India Consumer Durable Finance Market, By Type:
- Smart Phone
- Washing Machine
- Refrigerator
- Air Conditioner
- Laptop
- Others
India Consumer Durable Finance Market, By City:
- Tier 1
- Tier 2
- Tier 3
India Consumer Durable Finance Market, By Region:
- North
- South
- East
- West
For more information about this report visit https://www.researchandmarkets.com/r/kmfwas
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