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India’s electrical consumer durables (ECD) market is on the brink of robust expansion, fueled by premiumisation, increased demand for smart and health-focused products, and a growing shift from unorganised to organised players, according to Crompton Greaves Consumer Electricals Ltd’s (CGCEL) latest annual report.
Rising disposable incomes and an expanding middle class — expected to make up 47% of the population by 2030-31 — are creating fertile ground for a broader range of consumers to invest in high-quality durable goods. This shift is spurring demand across multiple product categories, the company noted.
Consumers are increasingly drawn to products that enhance health, well-being, and convenience, with a marked rise in interest in feature-rich, premium appliances. The report highlights the growing appetite for smart homes and connected devices powered by IoT and AI, a trend that is opening new innovation pathways for manufacturers.
“By introducing smart products that integrate into holistic home ecosystems, companies can tap into substantial growth opportunities,” CGCEL stated. In addition, government schemes such as ‘PM Kusum’ for solar pumps, rural electrification, and housing initiatives are expected to support sectoral growth.
Addressing shareholders, CGCEL Chairman D Sundaram emphasised that the evolving consumer landscape — marked by a desire for aesthetics, durability, performance, and energy efficiency — aligns well with regulatory shifts and sustainability goals under policies like ‘Make in India’.
The company, under its transformation initiative Crompton 2.0 launched in June 2023, is doubling down on innovation and consumer-centric strategies. For FY25, CGCEL reported standalone revenue of ₹7,028.29 crore and a net profit of ₹563.18 crore.
“CGCEL is strategically positioned to capture these emerging opportunities by focusing on products that enhance comfort, convenience, and performance,” Sundaram added.
(Source: PTI)
