India Microwave Oven Market size was valued at US$ 365.76 Bn in 2020 and the total revenue is expected to grow at 8.96% through 2021 to 2027, reaching nearly US$ 666.91 Bn. To know about the Research Methodology :- Request Free Sample Report
India Microwave Oven Market Overview:The Indian customer is no more captivated by cooking in a microwave. With customers choosing to buy basic models online over high-end convection models from the stores, the price points are also fronting a downward trend. The class opened by MNCs like LG & Samsung some twenty years back, currently has Indian players like Godrej & Onida, who endure to stock microwaves which face a miserable future compared with rising categories like washing machines & air-conditioners.
Demonetization result:According to MMR the report, the microwaves category was in a decline, sales were improving till the 3rd quarter of 2016. Demonetization squeezed this recovery &, overall, the microwaves category declined by 6.9 % (by volumes) in the year 2016 over the year 2015. Sales sustained to drop in the 1st quarter of the year 2017 but started to improve in the 2nd, with a surge in June (+29 % over the last month & 39 % over June 2016) possibly owing to the pre-GST sales presented by retailers. There were signs that these may have been stock clearance sales. Yet, the microwave class dropped by 8.49 % for 2017 compared with H1 in the year 2016. LG had a part in building the class when it used to teach customers how to use the microwave for Indian cuisine. But over the years, the Korean players stopped pushing them, & India is one of the rare emerging countries where the class has vanished ground compared to the established nations where it is a stagnant segment. LG said the class had been degrading for the last 2 years as customers were not using microwaves for cooking but only to re-heat & did not consider it a need like a refrigerator or an AC.
Convection vs. basic models:Being a key player in microwaves, LG also started auto-cook mode in its convection models but the Indian customer was unmoved. Microwaves have shifted into the gifting group & it is low-end models like solo & grill which sell online today. Customer durables retailers like Croma finding that customers are reluctant to invest in microwaves, they are down-exchange their models. Costs have been sliding. Instead of purchasing high-end convection models for food preparation for 10,000 upwards, currently, customers would rather purchase basic solo models for heating at 5,000-7,000. Microwave is expected to be 4,000 crore class with fifteen lakh units sold in a year. LG endures being the market major player with a 35 % share followed by Samsung.
Samsung eyes 40 percent share of Indian microwave oven market in the year 2018:Consumer electronics major Samsung had achieved a 40 % market share in the microwave oven sector in India by the end of 2018 on the back of an additional new range of products. In the year 2017, Samsung had a 33 % market share in the sector by volume in the country & 35.5 % by value in the year 2017. In the year 2013, it had 22 % market share by volume & 23.5 % by value. Samsung is looking to better their market position & company would be touching 41.8 % (market share) by the end of 1st half of 2021). The company is firming its existence in the segment with its India precise innovations & now also receiving traction from the tier II & III places besides the established metro markets. The microwave market is anticipated to reach Rs 900 crore & around 12 to 15 enterprises are operating in this space. Samsung has also established 1st ever smart oven app for Android mobile users. Samsung My Recipe App has the major collection of Indian & continental recipes, with over three hundred auto cook & over fifty conventional recipes, customized for twenty Samsung Smart Ovens. Samsung range of microwaves is now available at its network of around 29,000 dealers. Currently, Samsung imports the complete range of its microwaves from its international factories. Microwave ovens, once appreciated as luxury machines are gradually finding favor with youths & those staying away from home. These basic-level ovens are flattering a vital part of present kitchens of many income levels in tier I & II cities. Panasonic newly come into the solo microwave range keeping in mind the necessities of young, single professionals & students whose cooking supplies are limited. Many of their consumers are students, young professionals & migrants, who find it cooler to cook using microwave ovens. Their entry-level solo microwave ovens which come at a price range of 5,790-6,390, have picked up grip in these sectors. Solo microwave has developed as a high-growth sector in the Indian market newly with the changing lifestyles & family structure. Approximately 12 lakh microwave units were sold in India in the year 2015-16. Indian Microwave Oven is controlled by convection microwave ovens which account for 70 percent of sales, mostly in urban zones, followed by grill ovens (20 percent) & solo (10 percent). The lower-end units (21 liters or less) donated to volume & the higher-end (32 liters & above) to value. The fast-growing solo category establishes 10-12 % of the market in terms of volume. The home microwave ovens market in India will rise by 9 % by 2021. 70 % of solo ovens are accepted by the young & 1st time purchasers in smaller cities. However, the total penetration of microwave ovens in India is only 4 % of the population. During the forecast period, the solo oven sector is anticipated to grow at 15 % per annum. The objective of the report is to present a comprehensive analysis of the India Microwave Oven Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the India Microwave Oven Market dynamics, structure by analyzing the market segments and project the India Microwave Oven Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the India Microwave Oven Market make the report investor’s guide.
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India Microwave Oven Market Report Coverage Details Base Year: 2020 Forecast Period: 2021-2027 Historical Data: 2016 to 2020 Market Size in 2020: US $ 365.76 Bn. Forecast Period 2021 to 2027 CAGR: 8.96% Market Size in 2027: US $ 666.91 Bn. Segments Covered: by Type • Single Function • Multiple Functions by Structure • Built-in • Counter Top by Application • Residential • Commercial.
India Microwave Oven Market, by Region• North India • South India • East India • West India
India Microwave Oven Market Key Players• Electrolux • GE Appliances • Haier Inc. • June Life Inc. • LG Electronics • Panasonic • Samsung • Sharp Corporation • Tovala • TTK Prestige Ltd • Whirlpool • Sub-Zero Group, Inc. • Alto-Shaam, Inc. • Illinois Tool Works Inc. • Galanz • Midea Group • Brandt • Moulinex. Frequently Asked Questions: 1. What is the growth rate of India Microwave Oven Market? Ans: The India Microwave Oven Market is growing at a CAGR of 14.65% during forecasting period 2021-2027. 2. What segments are covered in India Microwave Oven market? Ans: India Microwave Oven Market is segmented into Application, Type, Screen Size and Region. 3. Who are the key players in India Microwave Oven market? Ans: The important key players in the India Microwave Oven Market are Electrolux, GE Appliances, Haier Inc., June Life Inc.,LG Electronics, Panasonic, Samsung, Sharp Corporation 4. What is the study period of this market? Ans: The India Microwave Oven Market is studied from 2020 to 2027.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 126.96.36.199. Secondary data 188.8.131.52. Secondary Sources 2.3.2. Primary Research 184.108.40.206. Data from Primary Sources 220.127.116.11. Breakdown of Primary Sources 3. Executive Summary: India Microwave Oven Market Size, by Market Value (US$ Mn) 3.1. India Market Segmentation 3.2. India Market Segmentation Share Analysis, 2020 3.2.1. India 3.2.2. By Region (North India, South India, East India, Western India) 3.3. Geographical Snapshot of the India Microwave Oven Market 3.4. Geographical Snapshot of the India Microwave Oven Market, By Manufacturer share 4. India Microwave Oven Market Overview, 2020-2027 4.1. Market Dynamics 4.1.1. Drivers 18.104.22.168. India 22.214.171.124. By Region (North India, South India, East India, Western India) 4.1.2. Restraints 126.96.36.199. India 188.8.131.52. By Region (North India, South India, East India, Western India) 4.1.3. Opportunities 184.108.40.206. India 220.127.116.11. By Region (North India, South India, East India, Western India) 4.1.4. Challenges 18.104.22.168. India 22.214.171.124. By Region (North India, South India, East India, Western India) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 126.96.36.199. Threat of New Entrants 188.8.131.52. Bargaining Power of Buyers/Consumers 184.108.40.206. Bargaining Power of Suppliers 220.127.116.11. Threat of Substitute Products 18.104.22.168. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the India Microwave Oven Market 5. Supply Side and Demand Side Indicators 6. India Microwave Oven Market Analysis and Forecast, 2020-2027 6.1. India Microwave Oven Market Size & Y-o-Y Growth Analysis. 7. India Microwave Oven Market Analysis and Forecasts, 2020-2027 7.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 7.1.1. Single Function 7.1.2. Multiple Functions 7.2. Market Size (Value) Estimates & Forecast By Structure, 2020-2027 7.2.1. Built-in 7.2.2. Counter Top. 7.3. Market Size (Value) Estimates & Forecast By Application, 2020-2027 7.3.1. Residential 7.3.2. Commercial. 8. India Microwave Oven Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2020-2027 8.1.1. North India 8.1.2. South India 8.1.3. East India 8.1.4. Western India 9. Competitive Landscape 9.1. Geographic Footprint of Major Players in the India Microwave Oven Market 9.2. Competition Matrix 9.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Product Types and R&D Investment 9.2.2. New Product Launches and Product Enhancements 9.2.3. Market Consolidation 22.214.171.124. M&A by Regions, Investment and Verticals 126.96.36.199. M&A, Forward Integration and Backward Integration 188.8.131.52. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 9.3. Company Profile : Key Players 9.3.1. Electrolux 184.108.40.206. Company Overview 220.127.116.11. Financial Overview 18.104.22.168. Geographic Footprint 22.214.171.124. Product Portfolio 126.96.36.199. Business Strategy 188.8.131.52. Recent Developments 184.108.40.206. Key Technology 9.3.2. GE Appliances 9.3.3. Haier Inc. 9.3.4. June Life Inc. 9.3.5. LG Electronics 9.3.6. Panasonic 9.3.7. Samsung 9.3.8. Sharp Corporation 9.3.9. Tovala 9.3.10. TTK Prestige Ltd 9.3.11. Whirlpool 9.3.12. Sub-Zero Group, Inc. 9.3.13. Alto-Shaam, Inc. 9.3.14. Illinois Tool Works Inc. 9.3.15. Galanz 9.3.16. Midea Group 9.3.17. Brandt 9.3.18. Moulinex 10. Primary Key Insights.