Microwave oven is a kitchen appliance that heats and cooks food by exposing it to electromagnetic radiation in the microwave frequency range. This induces polar molecules in the food to rotate and produce thermal energy in a process known as dielectric heating. Microwave ovens heat foods quickly and efficiently because excitation is fairly uniform in the outer 25–38 mm (1–1.5 inches) of a homogeneous, high water content food item; food is more evenly heated throughout than generally occurs in other cooking techniques.
Currently, there are many producing companies in the world. The main market players are Galanz, Midea, Electrolux, Whirlpool, Panasonic, Samsung, Daewoo, BSH Home Appliances,
SHARP, LG, Brandt, GE (Haier), Candy Group, Moulinex, Breville and so on. The production value of Microwave Ovens is about 8000.1 Million USD in 2017.
China is the largest production regions of Microwave Ovens, with a production value market share nearly 48.89% in 2017.
The second place is Europe; following China with the production value market share over 15.14% in 2017. North America is another important production market of Microwave Ovens.
Microwave Ovens used in Household and Commercial places. Report data showed that 68.69% of the Microwave Ovens market demand in Household and 31.31% in Commercial in 2017.
There are three kinds of Commercial Microwave Ovens, which are Under 1 Cu. Ft Type, 1 to 1.9 Cu. Ft Type and Over 2 Cu.ft Type. Under 1 Cu. Ft Type is important in the Microwave Ovens, with a production market share nearly 57.35% in 2017.
Briefly speaking, in the next few years, Microwave Ovens industry will still be a relative steady industry. Sales of Microwave Ovens have brought a lot of opportunities, there will more companies enter into this industry, especially in developing countries.
According to this study, over the next five years the Microwave Oven market will register a 4.5% CAGR in terms of revenue, the global market size will reach US$ 10400 million by 2024, from US$ 8000 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Microwave Oven business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Microwave Oven market by product type, application, key manufacturers and key regions and countries.
This study considers the Microwave Oven value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Under 1 Cu. Ft Type
1 to 1.9 Cu. Ft Type
Over 2 Cu.ft Type
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
BSH Home Appliances
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Microwave Oven consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Microwave Oven market by identifying its various subsegments.
Focuses on the key global Microwave Oven manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Microwave Oven with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Microwave Oven submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.