Global Microwave Oven Market, By Product Type (Convection, Grill, Solo), Structure (Cooktop, Built-In), Size (Less than 1 Cubic Foot, 1-1.9 Cubic Foot, More than 2 Cubic Foot), Application (Household, Commercial), Distribution Channel (Multi-Brand Stores, Exclusive Stores, Online Stores, Other Distribution Channels), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Microwave Oven Market
The microwave oven market is expected to witness market growth at a rate of 3.5% in the forecast period of 2021 to 2028. Data Bridge Market Research report on microwave oven market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in standard of living of customers globally is escalating the growth of microwave oven market.
Microwave ovens refer to the electronic devices which make use of the utilize electromagnetic waves to cook and heat food and beverage products in a shorter duration of time. The electromagnetic waves or microwaves tend to radiate heat in the form of microwave energy. This energy is further exposed to the water molecules present in food products.
The rise in the number of working population and their preoccupied schedules of people in urban cities acts as the major factors driving the growth of microwave oven market. The increase in number of nuclear families, high demand for frozen and ready-to-eat food and growth of sales of smart kitchen appliances accelerate the microwave oven market growth. The expansion of hospitality sector and increasing catering contracts for large-scale functions, seminars and other social gatherings and rise in the adoption of kitchen and home appliances because of increasing rate of urbanization further influence the microwave oven market. Additionally, rising standard of living of customers, growth in population, rise in awareness about different cooking appliances, increase in consumer spending on kitchen appliances and surge in disposable income of consumers positively affect the microwave oven market. Furthermore, rise in trend of connectivity between home appliances and innovations such as inverter-based microwave oven extend profitable opportunities to the microwave oven market players in the forecast period of 2021 to 2028.
On the other hand, high power consumption associated with the usage of these products is expected to obstruct the microwave oven market growth. The rise in concerns regarding energy conservation across the globe is projected to challenge the microwave oven market in the forecast period of 2021-2028.
This microwave oven market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on microwave oven market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Microwave Oven Market Scope and Market Size
The microwave oven market is segmented on the basis of product type, structure, size, application and distribution channel. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of product type, the microwave oven market is segmented into convection, grill and solo.
- On the basis of structure, the microwave oven market is segmented into cooktop and built-in.
- On the basis of size, the microwave oven market is segmented into less than 1 cubic foot, 1-1.9 cubic foot and more than 2 cubic foot.
- On the basis of application, the microwave oven market is segmented into household and commercial.
- On the basis of distribution channel, the microwave oven market is segmented into multi-brand stores, exclusive stores, online stores and other distribution channels.
Global Microwave Oven Market Country Level Analysis
The microwave oven market is analyzed and market size, volume information is provided by country, product type, structure, size, application and distribution channel as referenced above.
The countries covered in the global microwave oven market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the microwave oven market during the forecast period of 2021 to 2028 because of the high demand for the latest technology-enabled products in the region. Asia-Pacific is expected to witness significant CAGR during the forecast period of 2021 to 2028 because of the improving standard of living of consumers and rise in disposable income within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Microwave Oven Market Share Analysis
The microwave oven market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to microwave oven market.
The major players covered in the microwave oven market report are AB Electrolux, Alto-Shaam, Inc., Daewoo Electronics, Haier Group, LG Electronics, Panasonic Corporation, Robert Bosch GmbH, Sharp Corporation, SMEG S.p.A., Whirlpool Corporation, Illinois Tool Works Inc., Guangdong Galanz Enterprises Co., Ltd., Brandt Group of Companies, GE Appliances, Groupe SEB, Breville USA, Inc., SAMSUNG, Midea Group, Miele, Hausgeräte GmbH among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.