Microwave Oven Market - Global Industry Research Analysis

Microwave Oven Market Size

The global microwave oven Industry size was worth around USD 12.96 billion in 2023 and is predicted to grow to around USD 17.51 billion by 2032 with a compound annual growth rate (CAGR) of roughly 3.4% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the Microwave Oven market on a global and regional level.

Global Microwave Oven Market: Overview

These days’ microwave ovens form an essential part of kitchen appliances. Microwave oven mainly works on thermal energy which requires heating the polar molecules in food items; this method is also called as dialectic heating. The microwave rays released from microwave ovens are usually of shorter wavelength but have a massive amount of energy which helps in faster cooking. Microwave oven depends on the power output and is utilized for baking, roasting, and grilling. Microwave ovens are mainly manufactured with different aspects, some of which comprises a heating chamber, touch display panels, a glass turntable, and vents.

Global Microwave Oven Market: Growth Factors

The global microwave oven market is predicted to witness several changes owing to changing customer inclinations and the pressure of macroeconomic and socio-economic aspects. Several macroeconomic aspects incorporate growing consumer knowledge, increase in disposable income, and increasing size of the populace. In this regard, the development of the market is foreseen to be driven favorably in the coming future, leading to immense growth of the market. Growing count of customers, not only in the working group is increasing the demand and popularity for the global microwave oven market due to heavy expenditure on kitchen electrical appliances that ease the demands of the expected chores. This demand is anticipated to increase in the coming years owing to the growing need for stylish and convenient appliances balancing the standards of living of the buyers.

Microwave Oven Market: Report Scope

Global Microwave Oven Market: Segmentation

The microwave oven market is classified, in terms of application, type, structure, and geography.

In terms of types, the global microwave oven is categorized into grill, convection, and solo. The convection division is anticipated to hold the largest market share in the global market. Due to its high functionality aspect, convection microwave oven will be experiencing a rapid development in the coming years.

Based on application, the global microwave oven market is divided into household and commercial microwave. Household microwave division is projected to have the maximum share as compared to the commercial microwave.

By structure, the global microwave oven is categorized into countertop and built-in. The built-in microwave oven is expensive and has installation charges, while countertop microwave does not have installation charge and can be placed easily in the kitchen.

Global Microwave Oven Market: Regional Analysis

North America is anticipated to be the most dominating region for the global microwave oven market. It is likely to be the most established market for the microwave ovens with several household and commercial establishments by now equipped with such electrical devices. Europe is projected to be the most productive market along with Asia Pacific as compared to Japan. The overall demand and popularity of microwave oven could augment in countries such as China and India owing to the growing inclination of customers toward a high expenditure on first-rate kitchen electrical appliances. In the coming future, Japan is expected to achieve considerable share in the microwave oven market.

Global Microwave Oven Market: Competitive Players

Some of the most important market players in the global microwave oven market are:

• Illinois Tool Works Inc.
• Guangdong Galanz Enterprises Co. Ltd.
• Sharp Corporation
• Hoover Limited
• LG Electronics Inc.
• Electrolux AB
• Alto-Shaam Inc.

The Global Microwave Oven Market is segmented as follows:

By Types

• Grill
• Convection
• Solo

By Application 

• Household  
• Commercial Microwave

By Structure 

• Countertop 
• Built-In

Global Microwave Oven Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • The UK
  • France
  • Germany
• The Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.

FAQ.

What is Microwave Oven?

These days’ microwave ovens form an essential part of kitchen appliances. Microwave oven mainly works on thermal energy which requires heating the polar molecules in food items; this method is also called as dialectic heating.

What will be the value of the Microwave Oven Market during 2024-2032?

According to study, the Microwave Oven Market size was worth around USD 12.96 billion in 2023 and is predicted to grow to around USD 17.51 billion by 2032.

What will be the CAGR value of the Microwave Oven Market during 2024-2032?

The CAGR value of Microwave Oven Market is expected to be around 3.4% during 2024-2032.

Which region will contribute notably towards the Microwave Oven Market value?

North America has been leading the Microwave Oven Market and is anticipated to continue on the dominant position in the years to come.

Which are the major players leveraging the Microwave Oven Market growth?

The Microwave Oven Market is led by players like Illinois Tool Works Inc., Guangdong Galanz Enterprises Co. Ltd., Sharp Corporation, Hoover Limited, LG Electronics Inc., Electrolux AB, Alto-Shaam Inc., and among others.

Frequently Asked Questions