India ranks as the second-largest emerging market for BSH Hausgeräte GmbH, the German home appliances manufacturer, according to Rudolf Klotscher, the company’s global chief of sales and services. Klotscher emphasized India’s importance as a “huge focus” country, alongside Turkey.
The Euro 14.8-billion company, renowned for its Bosch and Siemens brands of refrigerators, dishwashers, and kitchen appliances, has experienced double-digit growth in India across various categories, including built-in appliances and dishwashers, amidst the country’s 7-8% market expansion. While Rudolf Klotscher didn’t disclose specific revenue figures or the company’s overall revenue growth in India, he underscored the notable performance in these segments.
Klotscher, speaking on the sidelines of BSH’s annual global press event conducted virtually on Thursday, highlighted the immense future potential in India, citing its vast population of 1.4 billion as a significant market opportunity.
“In 2024, we anticipate a double-digit growth compared to 2023 for India. While the Indian market is expanding at around 7-8%, BSH aims to achieve double-digit growth figures in the coming years,” he remarked.
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BSH reported a 2.2% decrease in turnover for its emerging markets region in 2023, which encompasses India. However, excluding the company’s exit from the Russian market, there would have been a slight turnover increase in emerging markets, largely propelled by Turkey.
Klotscher noted a significant surge in demand for luxury appliances in India, particularly dishwashers and built-in cooking ranges. With only 0.3% of Indian households owning dishwashers, the category witnessed an impressive 18% growth in 2023. Additionally, premium built-in cooking appliances experienced an 11% year-on-year growth, while the small appliances sector also saw a notable 12% year-on-year increase in 2023.
BSH manufactures cooling appliances and washing machines at its facility near Chennai, while also operating a development center in Bangalore. Notably, this center has specifically engineered cookers tailored for the Indian market.
“We have colleagues dedicated to crafting appliances customized for the Indian market. Additionally, we maintain numerous sales offices to engage and inspire our consumers in India. These efforts underscore the significance of the Indian market for us,” remarked Klotscher.
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The global management of BSH predicted in 2022 that by 2025, the company’s operations in India would generate half a billion euros in sales.
During the press conference, Matthias Metz, the global chief executive, emphasized BSH’s commitment to sustained growth across all regions. He stated that the company is actively broadening its footprint in local markets and striving to introduce market-specific product innovations to ensure ongoing success.
