India OTG Market By Capacity (Small, Medium, Large) By Power (Below 1,200 Watts, 1,200 to 2,000 Watts, 2,000 to 5,000 Watts, and Above 5,000 Watts) By Distribution Channel (Hypermarket/Supermarket, Multi-branded Electronic Stores, Online, Others) By Application (Residential, Commercial) By Company, By Region, Forecast & Opportunities, FY2027

India OTG market is expected to grow at a steady CAGR during the forecast period, FY2023-FY2027. Rising disposable income among the middle-class families is increasing the expenditure capacity of consumers to afford quality products for residential and commercial spaces. Rapid urbanization due to presence of better job opportunities in cities and adoption of living standards is considered a major driver for OTG market growth. Surge in awareness among consumers to buy products to increase convenience at home is creating lucrative opportunities for the growth of OTG market. Rise in sedentary lifestyle due to long busy hours results in less time left for cooking purpose. OTG ovens aids in reducing the cooking time and cooks the food in most simple and convenient way. Shift in consumer preference for dining out in restaurants and fast-food chains due to adoption of junk, high-sugar food items is fostering construction of more quick service and fast-food restaurants which is accelerating the demand for OTG in India. OTG are toasters which can be used to cook any food in minutes. OTG now come with exclusively designed modes which covers a wide variety of Indian dishes to aid consumers in preparing tasting dishes. OTG in India are using opti-temp technology which helps in even distribution of heat which results in uniform baking of bread and cakes.

India OTG market is segmented into capacity, power, distribution channel, application, regional distribution, and company. Based on application, market is further divided into residential and commercial. Commercial segment is expected to witness growth in the forecast period due to increase in food-chains which excels in take-away and dine-in by preparing food in less amount of time. OTG aids in cooking by preserving quality and are affordable thereby expected to grow at a significant rate for the next five years.

The major players operating in the India OTG market are Bajaj Electricals Ltd, Wonderchef Home Appliances Private Limited, Morphy Richards Ltd, Usha Industries India, TTK Prestige Limited, Panasonic India Private Limited, Philips India Limited, Universal Corporation Ltd. (AGARO), Vandana Trade Links Pvt Ltd (Skyline Home Appliances), Pigeon India Private Limited, and others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.

Years considered for this report:

Historical Years: FY2017-FY2020

Base Year: FY2021

Estimated Year: FY2022

Forecast Period: FY2023–FY2027

Objective of the Study:

• To analyze the historical growth of the market size of India OTG market from FY2017 to FY2020.
• To estimate and forecast the market size of India OTG market from FY2021 to FY2027 and growth rate until FY2027.
• To classify and forecast India OTG market based on capacity, power, distribution channel, application, regional distribution, and company.
• To identify dominant region or segment in the India OTG market
• To identify drivers and challenges for India OTG market
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India OTG market.
• To identify and analyze the profile of leading players operating in India OTG market.
• To identify key sustainable strategies adopted by market players in India OTG market.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.

TechSci Research calculated the market size of India OTG market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• OTG manufacturing companies
• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to OTG market

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, India OTG market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         India OTG Market, By Capacity:

• Small
• Medium
• Large
• India OTG Market, By Power:
• Below 1,200 Watts
• 1,200 to 2,000 Watts
• 2,000 to 5,000 Watts
• Above 5,000 Watts
• India OTG Market, By Distribution Channel:
• Hypermarket/Supermarket
• Multi-branded Electronic Stores
• Online
• Others
• India OTG Market, By Application:
• Residential
• Commercial
• India OTG Market, By Region:
• North
• South
• East
• West

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India OTG market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).