India: Microwave Oven Market 2024

Microwave Oven Market Size in India

In 2022, the Indian microwave oven market increased by 1.1% to $X, rising for the sixth year in a row after two years of decline. The market value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Microwave oven consumption peaked in 2022 and is expected to retain growth in the immediate term.

Microwave Oven Production in India

In value terms, microwave oven production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by 42% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Microwave Oven Exports

Exports from India

In 2022, approx. X units of microwave ovens were exported from India; waning by -11.5% on 2021 figures. Over the period under review, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 1,483% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, microwave oven exports dropped to $X in 2022. Overall, exports saw a mild downturn. The most prominent rate of growth was recorded in 2015 with an increase of 664% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Nepal (X units), Bangladesh (X units) and Sri Lanka (X units) were the main destinations of microwave oven exports from India, with a combined 79% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +106.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nepal ($X), Bangladesh ($X) and Sri Lanka ($X) appeared to be the largest markets for microwave oven exported from India worldwide, with a combined 80% share of total exports.

In terms of the main countries of destination, Bangladesh, with a CAGR of +108.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average microwave oven export price amounted to $X per unit, with an increase of 2.1% against the previous year. Over the period under review, the export price, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2018 when the average export price increased by 26% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Maldives ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Fiji (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Microwave Oven Imports

Imports into India

In 2022, purchases abroad of microwave ovens increased by 0.6% to X units, rising for the second year in a row after two years of decline. Overall, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +44.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 44%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, microwave oven imports reduced to $X in 2022. Over the period under review, total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 58% against the previous year. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

China (X units), Malaysia (X units) and Thailand (X units) were the main suppliers of microwave oven imports to India, with a combined 99% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +34.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Malaysia ($X) and Thailand ($X) were the largest microwave oven suppliers to India, with a combined 98% share of total imports.

Among the main suppliers, Thailand, with a CAGR of +24.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average microwave oven import price stood at $X per unit in 2022, waning by -8.7% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 10%. As a result, import price attained the peak level of $X per unit, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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