The Global Microwave Ovens Market size has witnessed significant growth in recent years and is expected to grow at a CAGR of around 8% over the forecast period. Microwave Ovens are kitchen appliances that release microwaves to heat food. Microwave ovens are an alternative to your kitchen stovetop and provide a fast, energy-efficient cooking solution for heating up leftovers or frozen dinners. Microwave ovens have become an essential appliance in many homes. They are convenient, quick, and easy to use. Microwave ovens are used to heat up food quickly, which is the primary reason for their popularity.
On the basis of Type, the market is segmented into Convection Microwave Oven, Grill Microwave Oven, and Solo Microwave Oven. The Convection oven type accounted for the largest share in 2018; owing to its multiple benefits such as quicker cooking time with less energy consumption when compared to other types of microwave ovens
Convection Microwave ovens are high-end microwaves that use convective heating for cooking food with a fan system that circulates hot air inside the cavity; they have better quality due to their more advanced technology but at a comparatively higher cost. This type of microwave oven has different temperature settings for meat, seafood, and vegetables as well as defrosting features to cook frozen items.
Grill Microwave Oven is an oven with a grill plate in the cooking chamber, can be used to cook meats and vegetables. They are still relatively high priced compared to conventional microwaves due to their additional functionality of grilling meat. However, they have seen an increase in sales as consumers search for healthier alternatives for food preparation.
Grill Microwave Oven is a dishwasher-safe appliance that takes up less space than traditional stovetop units but provides similar functions like convection microwaves and conventional ovens do, making them an attractive choice for home cooks who love variety in their diet as well as occasional convenience foods when time pressures arise.
Solo Microwave ovens are low-end microwaves that use electromagnetic waves and are suited for cooking smaller quantities of food at a comparatively lower price. They can be used as tabletop microwave ovens or under-cabinet models depending on the need but cannot provide multiple features that a convection microwave offers.
On the basis of Application, the market is segmented into Commercial and Household Markets. The household application has a larger market size than commercial application but it is expected that over the forecast period will witness a stronger growth rate due to increasing population across developing regions such as the Asia Pacific and Middle East & Africa (MEA).
Commercial application dominated this market in 2018 owing to its needs such as quick preparation, high volume production demand, etc.; household applications accounted for the second-largest share due to growing consumer awareness about health benefits associated with their usage; while the catering industry remained a significant contributor to commercial segment because of demands from restaurants around the world.
On the basis of Region, the market is segmented into North America, Latin America, Europe, and the Asia Pacific. North American region has a higher market share owing to the presence of major players in this region with a more advanced technology that can offer better quality products at a lower cost as compared to other regions such as MEA or APAC; however, over the forecast period, it will witness slower growth due to increasing preference for commercial application among households.
Asia-Pacific was the largest regional market during 2018 both on account of its size (by revenue) and relatively high demand for household appliances across developing economies of China and India which have significantly increased their per capita income levels over recent years. Similarly, household consumption expenditure as a percentage of total income has increased sharply over the years and is now higher than any other country surveyed by OECD.
Up Market Research published a new report titled “Microwave Ovens Market research report which is segmented by Types (Convection Microwave Ovens, Grill Microwave Ovens, Solo Microwave Ovens), By Applications (Commercial, Household), By Players/Companies Amana, Bosch, Cuisinart, Frigidaire, GE, Kenmore, KitchenAid, LG, Magic Chef, Maytag, Oster, Panasonic, Samsung, Sharp, Whirlpool”.
|Report Attributes||Report Details|
|Report Title||Microwave Ovens Market Research Report|
|By Type||Convection Microwave Ovens, Grill Microwave Ovens, Solo Microwave Ovens|
|By Application||Commercial, Household|
|By Companies||Amana, Bosch, Cuisinart, Frigidaire, GE, Kenmore, KitchenAid, LG, Magic Chef, Maytag, Oster, Panasonic, Samsung, Sharp, Whirlpool|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||233|
|Number of Tables & Figures||164|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Convection Microwave Ovens, Grill Microwave Ovens, Solo Microwave Ovens and By Application Commercial, Household.
Some of the companies that are profiled in this report are:
Microwave Ovens Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Microwave Ovens Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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