Demand for refrigerators will double in the next decade

Demand for refrigerators will double in the next decade

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . The demand for refrigerators in the country is more than 2.5 million. More than 95 percent of these refrigerators are produced in the country. The rest is imported. The demand for refrigerators is also increasing as the number of 100% electrified upazilas and police stations has increased. During the few festivals of the year, especially around Ramadan and Eid-ul-Adha, most refrigerators are sold. About 50-60 percent of all refrigerators sold during the year are made at this time.

Electro Mart, an electronics company, started its journey in 1970. The company started production and marketing of refrigerators in 2018-19 fiscal year. At present, Electro Mart is selling refrigerators of Konka, Gree and Haiko. Electro Mart has a large market share in the country in terms of production and sales of refrigerators. We are selling more than 25 percent of the country’s annual demand for refrigerators. Although our marketed Konka, Gree and Haiko brand refrigerators are sold all over the country, the demand is highest in city corporations and district cities.

The main reason is the quality, longevity and affordable price of the products of Electro Mart. At present we have about 4,000 people directly involved in the refrigerator production and marketing process and about 7,000 people indirectly. There are more than 60 models of refrigerators of Electro Mart in the market. The price of these refrigerators ranges from a minimum of Tk 12,000 to a maximum of Tk 1.35 lakh.

Due to the Corona and Ukraine wars, the supply process in the country’s refrigerator industry has been somewhat disrupted. However, that crisis has been addressed through efficient management. However, due to the increase in the prices of raw materials and shipping in the international market, there has been some adjustment in the prices of our products.

Entrepreneurs’ interest in setting up self-sufficient industries is increasing due to the creation of investment-friendly environment in the country. The refrigerator industry has been particularly benefited as the government has fixed the interest rate on bank loans at 9 percent.

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