India microwave ovens market: 15% CAGR expected between 2012-2017

Press Release   •   Jul 16, 2013 11:59 BST

The India household microwave ovens market has been growing at a notable growth rate and further forecasted to grow at the CAGR of around 15% in revenues during 2012-17. Tier II and III cities are anticipated to generate significant revenue in microwave ovens market in the next five years. Convectional microwave ovens account for the highest revenue generator when compared with other type of microwave ovens such as Grill and Solo microwave ovens. Moreover, about 50 Million households are expected to enter into middle income group moving up from lower income group, which will further bolster the upcoming demand for microwave ovens in India.

India's monolithic young and working population is indirectly reshaping dynamics of several industries and Indian microwave ovens market is one of those industries, as increasing disposable income is pushing Indian families to opt for consumer durable goods such as microwave ovens. On the other hand, international microwave oven manufacturers are also entering Indian markets with new features and designs that are suitable for Indian families and their lifestyle. Leading companies are offering large product portfolio for different economic groups as low end models are dominating the Indian market. Companies are focused towards launching of smart appliances with modern technologies not only to enhance convenience to customer's daily lives but also to reduce energy consumption.

For more information on the India microwave market, see the latest research: India Microwave Market Research

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