How Redseer helped India’s leading major home appliances and consumer electronics player, LG Electronics India, file its DRHP for IPO 

Executive Summary 

LG Electronics India Limited (LGEIL) engaged Redseer, India’s leading strategy consulting firm, to support its IPO through a comprehensive market study. Redseer delivered a detailed and comprehensive industry analysis that built market sizing models across 25+ major product categories in the home appliances and consumer electronics market in India. We captured both the current baseline and future trajectory of demand, benchmarked top competing companies, and presented key requirements for sustained success in India’s home appliances and consumer electronics landscape.

About the Client 

LGEIL was incorporated in 1997 as a wholly owned subsidiary of LG Electronics, which is the leading single-brand global home appliances player in terms of market share by revenue in CY2024. “LG” was named as the Most Trusted Brand in India by Trust Research Advisory for four consecutive years (2020-2023). LGEIL offered one of the widest product portfolios amongst leading home appliances and consumer electronics players in India excluding mobile phones as of June 30, 2025. Additionally, they were the first to introduce several global technologies among leading home appliances & consumer electronics players in India. 

LGEIL operates through an integrated omnichannel model with 770+ brand shops and 35,000+ B2C touchpoints across India, in addition to the organized online channel. In FY2025, the company posted operating revenue of over ₹ 243 billion. 

The Strategic Imperative

• Understand the key macroeconomic tailwinds across geographies and understand market evolution due to changing consumer behaviour. 

• Build a bottom-up estimation of the major home appliances and consumer electronics market in India, aggregating the home appliances, consumer electronics, services and B2B devices and systems markets. Basis the current market understanding, model out the growth estimates for the next 5 years. 

• Understand the play in the market across different channels and different pricing tiers for all product categories.  

• Define the Total Addressable Market (TAM) for major home appliances and consumer electronics players in India, identify the key industry trends, including supply chain and regulations, and map out potential threats and challenges for the industry. 

• Compare and benchmark LGEIL against top industry peers in India across financial and operational parameters as well as business focus. 

Outcomes & Impact 

• Sized India’s fast-growing appliances and electronics market to establish the scale and attractiveness of the industry, and identified core demand drivers including income growth, urbanization, premiumization and digital adoption, highlighting structural enablers for long-term consumption expansion. 

• Benchmarked India’s market penetration and per-capita consumption against global peers, illustrating large headroom for growth and reinforcing India’s position as a priority market in home appliances and consumer electronics. 

• Disaggregated the market by category and channel, presenting growth trends across categories, including major categories such as air conditioners, refrigerators, washing machines, TVs, kitchen appliances, etc., and mapped the rise of modern retail formats. 

• Captured consumer behavioural shifts from functionality-driven to technology- and lifestyle-driven purchases, driven by demand for smart, connected and energy-efficient appliances. 

• Highlighted LGEIL’s market leadership across major categories, underpinned by innovation across these categories, strengthening investor confidence in its growth resilience. 

• Supported LGEIL’s IPO positioning by linking macro, sectoral and behavioural trends to industry growth projections, thus aligning the company’s current market leadership with long-term opportunities. 

What This Means for the Industry 

India represents ~6% of the Global Appliances and Electronics Market in terms of value and is expected to expand to ~8% by CY2029P as one of the fastest growing markets. The Indian market is projected to reach ₹ ~10,965 billion by CY2029, growing at a 5-year CAGR of ~11%.  

This growth will be fuelled by rising disposable incomes, urbanization, increased appliance penetration, government support for local manufacturing, and a shift toward premium, energy-efficient products. The expansion of organized retail and e-commerce will further drive accessibility and affordability. 

This dynamic and highly competitive market is marked by technological innovations, evolving consumer demands, and an increasingly crowded marketplace, making it essential for players to differentiate themselves not just through product offerings but also through operational excellence, brand strength, and customer-focused service. 

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