Haier Appliances India is on track to achieve $1 billion in revenue in 2024, driven by strong summer sales, festive demand, and a growing shift towards premium products. The company expects to reach ₹8,900 crore in revenue by the end of 2024 and has set an ambitious target of ₹11,500 crore for 2025, according to President NS Satish.
The consumer electronics and appliances maker, which has already invested ₹2,500 crore in India, plans to establish its third manufacturing facility in southern India. Currently scouting for land, Haier aims to have this facility operational by 2026 or 2027 to serve domestic and export markets. Meanwhile, it is expanding its Greater Noida plant with advanced capabilities like backward integration and injection molding to enhance production efficiency.
Haier credits its rapid 35% growth in 2024 to high-performing categories like LED TVs and washing machines, which benefited from premiumisation trends and increased average selling prices. Satish highlighted India’s low penetration levels in appliances compared to global markets, presenting a significant growth opportunity for the brand.
To maintain its competitive edge, Haier is focusing on India-specific innovations and launching differentiated products across categories such as refrigerators, air conditioners, and washing machines. Additionally, the company is diversifying into commercial air conditioning and kitchen appliances, investing in infrastructure and after-sales service to support these segments.
As the third-largest market globally for Haier, after China and the US, India plays a vital role in the company’s expansion strategy. Competing with established brands like Samsung, Whirlpool, and Bosch, Haier is leveraging its innovation-led approach to strengthen its position in the Indian market.
Established in 2003, Haier Appliances India Private Limited (Haier India) is a wholly-owned subsidiary of Haier Singapore Investment Holding Pte. Ltd., the world’s leading provider of innovative solutions for better living. Headquartered in Greater Noida, Haier India is recognized as one of the top brands in home appliances and consumer electronics in India and has been the global leader in major appliances for 15 consecutive years.
Driven by the philosophy of “More Creation, More Possibilities,” Haier India focuses on delivering superior, segment-leading products tailored to meet the needs of Indian consumers under its “Make in India” and “Make for India” initiatives. The company boasts two state-of-the-art manufacturing facilities in Pune and Greater Noida and an extensive distribution network across the nation. Its product portfolio spans a wide range of appliances, including refrigerators, air conditioners, washing machines, LED TVs, water heaters, deep freezers, microwave ovens, and kitchen appliances, all designed with a focus on advanced technology and customer-centricity.
