Microwave Oven Trends and Forecast
The future of the global microwave oven market looks promising with opportunities in the commercial and household markets. The global microwave oven market is expected to reach an estimated $12.7 billion by 2030 with a CAGR of 3.2% from 2024 to 2030. The major drivers for this market are increasing adoption of smart home appliances, growing consumer interest in convection microwave ovens, and expanding working individuals demand for quick and easy meal preparation.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Microwave Oven by Segment
The study includes a forecast for the global microwave oven by type, structure, end use, and region.
Microwave Oven Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Convection
• Grill
• Solo
Microwave Oven Market by Structure [Shipment Analysis by Value from 2018 to 2030]:
• Built In
• Cooktop
Microwave Oven Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Commercial
• Household
Microwave Oven Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Microwave Oven Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies microwave oven companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the microwave oven companies profiled in this report include-
• Alto-Shaam
• Amazonbasics
• Brandt
• Breville
• Bsh Home Appliances Group
• Dongbu Daewoo Electronics
• Electrolux
• Farberware Cookware
• Galanz
• GE Appliances
Microwave Oven Market Insights
Lucintel forecasts that convection will remain the largest segment over the forecast period.
Within this market, household will remain the largest segment over the forecast period.
North America will remain the largest region over the forecast period.
Features of the Global Microwave Oven Market
Market Size Estimates: Microwave oven market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Microwave oven market size by type, structure, end use, and region in terms of value ($B).
Regional Analysis: Microwave oven market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, structures, end uses, and regions for the microwave oven market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the microwave oven market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the microwave oven market size?
Answer: The global microwave oven market is expected to reach an estimated $12.7 billion by 2030.
Q2. What is the growth forecast for microwave oven market?
Answer: The global microwave oven market is expected to grow with a CAGR of 3.2% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the microwave oven market?
Answer: The major drivers for this market are increasing adoption of smart home appliances, growing consumer interest in convection microwave ovens, and expanding working individuals demand for quick and easy meal preparation.
Q4. What are the major segments for microwave oven market?
Answer: The future of the microwave oven market looks promising with opportunities in the commercial and household markets.
Q5. Who are the key microwave oven market companies?
Answer: Some of the key microwave oven companies are as follows:
• Alto-Shaam
• Amazonbasics
• Brandt
• Breville
• Bsh Home Appliances Group
• Dongbu Daewoo Electronics
• Electrolux
• Farberware Cookware
• Galanz
• GE Appliances
Q6. Which microwave oven market segment will be the largest in future?
Answer: Lucintel forecasts that convection will remain the largest segment over the forecast period.
Q7. In microwave oven market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the microwave oven market by type (convection, grill, and solo), structure (built in and cooktop), end use (commercial and household), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Microwave Oven Market, Microwave Oven Market Size, Microwave Oven Market Growth, Microwave Oven Market Analysis, Microwave Oven Market Report, Microwave Oven Market Share, Microwave Oven Market Trends, Microwave Oven Market Forecast, Microwave Oven Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.