Global Microwave Oven Market By Product Type (Convection, Grill, Solo), Application (Household, Commercial), Structure (Cooktop, Built-In), Size (Less than 1 Cubic Foot, 1-1.9 Cubic Foot, More than 2 Cubic Foot), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Microwave Oven Market
Global microwave oven market is expected to rise to an estimated value of USD 21.73 billion by 2026, registering a steady CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the rise in the disposable income of individuals.
Market Definition: Global Microwave Oven Market
Microwave ovens are electronic devices that utilize electromagnetic waves to cook and heat food & beverage products in a short period of time. The electromagnetic waves or microwaves radiate heat in the form of microwave energy, this energy is exposed to the water molecules present in food products.
- Increased consumption of convenience foods caused by a change in the lifestyle of individuals are positively affecting the growth of the market
- Enhanced functionality and greater methods of cooking food through these appliances are factors positively affecting the growth of the market
- High consumption of energy associated with the usage of these products amid concerns regarding energy conservation globally are factors restraining the growth of the market
Segmentation: Global Microwave Oven Market
By Product Type
- Less than 1 Cubic Foot
- 1-1.9 Cubic Foot
- More than 2 Cubic Foot
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Key Developments in the Market:
- In August 2018, BSH Hausgeräte GmbH announced that they had partnered with The Home Depot for the distribution of their home appliances all over the United States. The high-end enhanced quality products available through a wider network of distribution center will be able to reach a greater consumer group and expand the market share of BSH.
- In November 2016, Haier lnc. Announced the launch of two new models of Microwave Ovens, namely “HIL2810EGCF” and “HIL2001 CSPH” for the Indian market. This launch will help strengthen and enhance the position of the company as a leader globally for home appliances.
Competitive Analysis: Global Microwave Oven Market
Global microwave oven market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of microwave oven market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Microwave Oven Market
Few of the major competitors currently working in the microwave oven market are DAEWOO Electronics UK Ltd; Panasonic Corporation; SMEG S.p.A.; BSH Hausgeräte GmbH; LG Electronics; Whirlpool Corporation; Haier lnc.; SHARP CORPORATION; Electrolux; Alto-Shaam, Inc.; Illinois Tool Works Inc.; Galanz; Midea Group; SAMSUNG; Brandt; Moulinex and Breville Site.
Research Methodology: Global Microwave Oven Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure