Mayra Consumer Durables
Known as durable goods or durables Consumer durables are a category of consumer products that do not have to be purchased recurrently because they are made to last for an extended period of time (typically more than three years). It is a hard good that does not quickly wear out, or more specifically, one that yields utility over time rather than being completely consumed in one use. Items like bricks could be considered perfectly durable goods, because they should theoretically never wear out. Refrigerators, cars, or mobile phones usually continue to be useful for three or more years of use categorizes under highly durable goods, so durable goods are typically characterized by long periods between successive purchases. Examples of consumer durable goods include cars, household goods (home appliances, consumer electronics, furniture, etc.), sports equipment, firearms, and toys.
Data shows that India is expected to become the fifth largest consumer durables market in the world by 2025. The consumer electronics market is expected to increase to US$ 400 billion by 2020. The production is expected to reach US$ 104 billion by 2016. India is emerging the third largest market and its e-commerce business is likely to touch Rs. 40 billion (US$ 742.76 million) in 2015 against Rs. 12 billion (US$ 222.83 million) at present, which have broaden the consumer market. It is also expected that consumer industry will double at 14.7 per cent compound annual growth rate (CAGR) to US$ 12.5 billion in FY15 from US$ 6.3 billion in FY10. India's consumer durables exports include refrigerators and refrigerating equipment compressors, colour TVs, air conditioner parts and compressors, and fully automatic washing machines. India majorly exports to U.A.E. and the South Asian Association for Regional Cooperation (SAARC) nations, countries which has increased the revenue of Indian Consumer industry. LED TVs, laptops, split ACs and, beauty and wellness products has increased its demands in urban market. However, government has initiated many projects and invest significantly in rural electrification to increase the market of the rural population.