Microwave Oven Market Size, Trends and Insights By Type (Solo, Grill, Convection), By Size (Compact (Up to 20 Liters), Mid-Size (20 to 30 Liters), Large (Above 30 Liters)), By Application (Commercial, Residential), By Technology (Traditional, Smart), By Distribution Channel (Multi-brand Stores, Exclusive Stores, Online, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Whirlpool Corporation
- Samsung Electronics Co. Ltd.
- LG Electronics Inc.
- Panasonic Corporation
- Sharp Corporation
- Others
Reports Description
As per the current market research conducted by the CMI Team, the global Microwave Oven Market is expected to record a CAGR of 4.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 19.1 Billion. By 2033, the valuation is anticipated to reach USD 27.6 Billion.
The microwave oven market is a dynamic sector driven by factors such as changing lifestyles, technological advancements, and a rising demand for convenient cooking solutions. Characterized by diverse types solo, grill, and convection microwave ovens cater to varied needs.
These appliances vary in size, application (residential or commercial), technology (traditional or smart), and fuel type (electric or combination). Market growth is further influenced by regional preferences, end-user segments, and price ranges.
Continuous innovation, expanding online retail channels, and the integration of eco-friendly features contribute to the market’s evolution, providing consumers with efficient and versatile cooking options.
Microwave Oven Market – Significant Growth Factors
The Microwave Oven Market presents significant growth opportunities due to several factors:
- Changing Lifestyles and Time Constraints: The fast-paced modern lifestyle, coupled with time constraints, drives the demand for microwave ovens as consumers seek quick and convenient cooking solutions.
- Technological Advancements and Smart Features: Continuous technological innovations, including the integration of smart features and sensor-based cooking, contribute to the market’s growth by enhancing user experiences and expanding functionality.
- Health Consciousness and Nutritious Cooking: Increasing health consciousness among consumers propels the demand for microwave ovens, as these appliances offer options for healthier cooking methods such as steaming and controlled heating.
- Rising Urbanization and Limited Kitchen Space: The trend of urbanization, coupled with smaller living spaces, fuels the market, as compact microwave ovens become essential kitchen appliances for those with limited countertops and kitchen space.
- Sustainability and Energy Efficiency: The opportunity lies in catering to environmentally conscious consumers by developing energy-efficient models and incorporating sustainable features, aligning with the growing demand for eco-friendly appliances.
- Culinary Versatility and Innovative Designs: Opportunities exist in creating microwave ovens that offer diverse cooking options, appealing to consumers who seek culinary versatility. Innovative designs and aesthetically pleasing models can attract those who prioritize the visual appeal of kitchen appliances.
Microwave Oven Market – Mergers and Acquisitions
The Microwave Oven Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Microwave Oven Market include:
- In 2023, LG Electronics India and ITC Foods entered a strategic partnership to revolutionize cooking experiences in India. The collaboration leverages the strengths of both companies, aiming to provide consumers with enhanced convenience, health benefits, and cooking versatility, marking a significant step towards redefining the culinary landscape in the country.
- In 2022, Miele introduced the Miele Steam Oven featuring the innovative HydroClean function. This self-cleaning feature simplifies maintenance by facilitating the removal of tough food residues. Users pour liquid cleaner into the base strainer, initiating an automatic process that effectively disperses the mixture, ensuring a convenient and efficient cleaning experience for the appliance’s interior.
These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Microwave Oven Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.
COMPARATIVE ANALYSIS OF THE RELATED MARKET
| Microwave Oven Market | India Consumer Electronics Market | India Washing Machine Market |
| CAGR 4.2% (Approx) | CAGR 6.10% (Approx) | CAGR 4.1% (Approx) |
| USD 27.6 Billion by 2033 | USD 149.1 Billion by 2032 | USD 5.2 Billion by 2032 |
Microwave Oven Market – Significant Threats
The Microwave Oven Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:
- Competition from Alternative Cooking Technologies: The microwave oven market faces threats from alternative cooking technologies, including air fryers, induction cookers, and smart kitchen appliances. Evolving consumer preferences may divert demand away from traditional microwave ovens.
- Economic Downturn and Consumer Spending Constraints: Economic uncertainties and downturns can impact consumer spending. Reduced purchasing power may lead to decreased demand for non-essential appliances, affecting the microwave oven market adversely.
- Health and Safety Concerns: Perceived health and safety issues, such as concerns over potential radiation exposure or the nutritional impact of microwave cooking, pose threats to consumer trust and may influence purchasing decisions negatively.
- Limited Culinary Appeal and Cooking Flexibility: If microwave ovens fail to offer diverse cooking options or meet evolving culinary preferences, there’s a risk of reduced market appeal. Consumers seeking versatile and advanced cooking methods may opt for alternative appliances.
- Rapid Technological Obsolescence: The fast-paced evolution of technology may render existing microwave oven models obsolete quickly. Consumers may be hesitant to invest in appliances perceived as outdated, posing a threat to market sustainability and demand for certain models.
Category-Wise Insights:
By Type
- Solo Microwave Ovens: Solo microwave ovens are basic models designed for simple heating and cooking. Trends in this segment include compact and affordable models catering to single users or small families, with an emphasis on essential features. The market is witnessing a demand for solo microwaves that offer user-friendly interfaces, energy efficiency, and compact designs, aligning with the needs of urban dwellers and those seeking economical and straightforward cooking solutions.
- Grill Microwave Ovens: Grill microwave ovens, equipped with grilling features, cater to users who desire additional cooking options beyond basic heating. The trend involves a growing interest in multi-functional appliances, with grill microwaves offering enhanced versatility. Consumers are seeking appliances that provide both microwave and grill functionalities, reflecting a preference for appliances that can handle a broader range of cooking tasks, especially in smaller kitchens with limited space.
- Convection Microwave Ovens: Convection microwave ovens combine microwave and convection cooking, providing versatile cooking options. Trends in this segment include the demand for convection microwaves with advanced features such as preset cooking programs, sensor cooking, and smart technology integration. Consumers seek appliances that can bake, roast, and brown, making convection microwaves popular in kitchens where space is limited, yet diverse cooking capabilities are essential.
By Size
- Compact (Up to 20 Liters): Compact microwave ovens, with capacities of up to 20 liters, are ideal for small kitchens and limited countertop spaces. Trend-wise, the market sees a surge in demand for compact models due to urbanization, catering to consumers with constrained living spaces seeking efficient, space-saving kitchen appliances.
- Mid-Size (20 to 30 Liters): Mid-size microwave ovens, ranging from 20 to 30 liters, offer versatility for average cooking needs. The trend involves the adoption of mid-size models as they strike a balance between space efficiency and sufficient capacity, catering to a broad consumer base seeking versatile cooking solutions.
- Large (Above 30 Liters): Large microwave ovens, with capacities exceeding 30 liters, cater to extensive cooking requirements and larger families. The trend in this segment is influenced by consumers seeking high-capacity appliances, often equipped with advanced features, reflecting the demand for comprehensive and efficient cooking options.
By Technology
- Traditional Microwave Ovens: Traditional microwave ovens utilize basic heating and cooking functionalities. Despite being fundamental, they remain popular for their simplicity and affordability. Trends include continual enhancements in heating mechanisms, durability, and user-friendly controls to maintain market relevance.
- Smart Microwave Ovens: Smart microwave ovens integrate advanced technologies, offering features like app control, voice recognition, and preset cooking programs. Trends involve the increasing adoption of IoT connectivity, sensor-based cooking, and energy-efficient technologies, catering to tech-savvy consumers seeking convenience and innovation.
By Distribution Channel
- Multi-brand Stores: Multi-brand stores encompass a variety of microwave oven brands under one roof, offering consumers diverse choices. Trends include a wide product range, competitive pricing, and in-store promotions, creating a one-stop-shop experience for customers seeking options and value.
- Exclusive Stores: Exclusive stores focus on a single brand, providing a dedicated space for immersive brand experiences. Trends involve personalized customer service, brand loyalty programs, and exclusive promotions, fostering a brand-centric shopping environment for consumers seeking specialized products.
- Online: Online distribution channels for microwave ovens have witnessed a surge in popularity. Trends include the convenience of browsing and purchasing, competitive pricing, and a vast product assortment. E-commerce platforms offer a seamless shopping experience, attracting tech-savvy consumers and those seeking diverse options.
- Others: Other distribution channels may involve unconventional outlets or specialized retailers. Trends in this segment vary, ranging from specialty kitchen appliance stores to unconventional retail partnerships, catering to specific consumer needs and preferences beyond traditional distribution methods.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 19.1 Billion |
| Projected Market Size in 2033 | USD 27.6 Billion |
| Market Size in 2023 | USD 18.3 Billion |
| CAGR Growth Rate | 4.2% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, Size, Application, Technology, Distribution Channel and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Microwave Oven Market – Regional Analysis
The Microwave Oven Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:
- North America: In North America, the microwave oven market is trending towards smart home integration. Consumers seek appliances with advanced connectivity features, enabling remote control and integration with smart home ecosystems. The emphasis is on technological innovation and energy efficiency to align with the region’s tech-savvy and eco-conscious consumer base.
- Europe: European trends in the microwave oven market reflect a growing demand for compact and multifunctional appliances. Urban living spaces drive the need for smaller, space-efficient models, while features like convection cooking and grill functionalities gain popularity. Additionally, there’s an increased focus on design aesthetics, with consumers valuing appliances that complement modern European kitchen styles.
- Asia-Pacific: In the Asia-Pacific region, the microwave oven market sees a surge in demand for models catering to diverse culinary preferences. Manufacturers focus on developing appliances with preset cooking options for regional dishes, aligning with the varied tastes across Asian cuisines. The market also experiences growth in the adoption of smart features, appealing to tech-savvy consumers in countries like South Korea, China, and Japan.
- LAMEA (Latin America, Middle East & Africa): LAMEA trends highlight the microwave oven market’s response to increasing disposable incomes and evolving lifestyles. The market witnesses a demand for larger and more technologically advanced appliances, reflecting a shift towards more luxurious kitchen setups. Additionally, manufacturers in this region focus on energy-efficient models to address environmental concerns and meet growing consumer expectations.
Competitive Landscape – Microwave Oven Market
The Microwave Oven Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:
- Whirlpool Corporation
- Samsung Electronics Co. Ltd.
- LG Electronics Inc.
- Panasonic Corporation
- Sharp Corporation
- Bosch Home Appliances
- Electrolux AB
- Haier Group Corporation
- Midea Group
- Dacor Inc.
- IFB Industries Ltd.
- GE Appliances a Haier Company
- Kenmore (Sears Brands)
- Breville Group Limited
- Toshiba Corporation
- Others
These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.
New entrants like Breville Group Limited and Dacor, Inc. are adopting innovation to penetrate the microwave oven market, focusing on advanced technologies and unique features. However, key players such as Samsung Electronics, LG Electronics, and Whirlpool Corporation dominate through established global supply chains, extensive R&D investments, and diversified product portfolios.
Their market dominance is reinforced by continuous technological advancements, brand reputation, and strategic collaborations, solidifying their positions as leaders. These key players leverage innovation not only to maintain competitiveness but also to shape industry trends and meet evolving consumer demands.
The Microwave Oven Market is segmented as follows:
By Type
- Solo
- Grill
- Convection
By Size
- Compact (Up to 20 Liters)
- Mid-Size (20 to 30 Liters)
- Large (Above 30 Liters)
By Application
- Commercial
- Residential
By Technology
- Traditional
- Smart
By Distribution Channel
- Multi-brand Stores
- Exclusive Stores
- Online
- Others
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Microwave Oven Market, (2024 – 2033) (USD Billion)
- 2.2 Global Microwave Oven Market: snapshot
- Chapter 3. Global Microwave Oven Market – Industry Analysis
- 3.1 Microwave Oven Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Changing Lifestyles and Time Constraints
- 3.2.2 Technological Advancements and Smart Features
- 3.2.3 Health Consciousness and Nutritious Cooking
- 3.2.4 Rising Urbanization and Limited Kitchen Space
- 3.2.5 Sustainability and Energy Efficiency
- 3.2.6 Culinary Versatility and Innovative Designs.
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Type
- 3.7.2 Market Attractiveness Analysis By Size
- 3.7.3 Market Attractiveness Analysis By Application
- 3.7.4 Market Attractiveness Analysis By Technology
- 3.7.5 Market Attractiveness Analysis By Distribution Channel
- Chapter 4. Global Microwave Oven Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Microwave Oven Market: Company Market Share, 2024
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Microwave Oven Market – Type Analysis
- 5.1 Global Microwave Oven Market Overview: By Type
- 5.1.1 Global Microwave Oven Market Share, By Type, 2024 and – 2033
- 5.2 Solo
- 5.2.1 Global Microwave Oven Market by Solo, 2024 – 2033 (USD Billion)
- 5.3 Grill
- 5.3.1 Global Microwave Oven Market by Grill, 2024 – 2033 (USD Billion)
- 5.4 Convection
- 5.4.1 Global Microwave Oven Market by Convection, 2024 – 2033 (USD Billion)
- 5.1 Global Microwave Oven Market Overview: By Type
- Chapter 6. Global Microwave Oven Market – Size Analysis
- 6.1 Global Microwave Oven Market Overview: By Size
- 6.1.1 Global Microwave Oven Market Share, By Size, 2024 and – 2033
- 6.2 Compact (Up to 20 Liters)
- 6.2.1 Global Microwave Oven Market by Compact (Up to 20 Liters), 2024 – 2033 (USD Billion)
- 6.3 Mid-Size (20 to 30 Liters)
- 6.3.1 Global Microwave Oven Market by Mid-Size (20 to 30 Liters), 2024 – 2033 (USD Billion)
- 6.4 Large (Above 30 Liters)
- 6.4.1 Global Microwave Oven Market by Large (Above 30 Liters), 2024 – 2033 (USD Billion)
- 6.1 Global Microwave Oven Market Overview: By Size
- Chapter 7. Global Microwave Oven Market – Application Analysis
- 7.1 Global Microwave Oven Market Overview: By Application
- 7.1.1 Global Microwave Oven Market Share, By Application, 2024 and – 2033
- 7.2 Commercial
- 7.2.1 Global Microwave Oven Market by Commercial, 2024 – 2033 (USD Billion)
- 7.3 Residential
- 7.3.1 Global Microwave Oven Market by Residential, 2024 – 2033 (USD Billion)
- 7.1 Global Microwave Oven Market Overview: By Application
- Chapter 8. Global Microwave Oven Market – Technology Analysis
- 8.1 Global Microwave Oven Market Overview: By Technology
- 8.1.1 Global Microwave Oven Market Share, By Technology, 2024 and – 2033
- 8.2 Traditional
- 8.2.1 Global Microwave Oven Market by Traditional, 2024 – 2033 (USD Billion)
- 8.3 Smart
- 8.3.1 Global Microwave Oven Market by Smart, 2024 – 2033 (USD Billion)
- 8.1 Global Microwave Oven Market Overview: By Technology
- Chapter 9. Global Microwave Oven Market – Distribution Channel Analysis
- 9.1 Global Microwave Oven Market Overview: By Distribution Channel
- 9.1.1 Global Microwave Oven Market Share, By Distribution Channel, 2024 and – 2033
- 9.2 Multi-brand Stores
- 9.2.1 Global Microwave Oven Market by Multi-brand Stores, 2024 – 2033 (USD Billion)
- 9.3 Exclusive Stores
- 9.3.1 Global Microwave Oven Market by Exclusive Stores, 2024 – 2033 (USD Billion)
- 9.4 Online
- 9.4.1 Global Microwave Oven Market by Online, 2024 – 2033 (USD Billion)
- 9.5 Others
- 9.5.1 Global Microwave Oven Market by Others, 2024 – 2033 (USD Billion)
- 9.1 Global Microwave Oven Market Overview: By Distribution Channel
- Chapter 10. Microwave Oven’s Market – Regional Analysis
- 10.1 Global Microwave Oven’s Market Regional Overview
- 10.2 Global Microwave Oven’s Market Share, by Region, 2024 & – 2033 (USD Billion)
- 10.3. North America
- 10.3.1 North America Microwave Oven’s Market, 2024 – 2033 (USD Billion)
- 10.3.1.1 North America Microwave Oven’s Market, by Country, 2024 – 2033 (USD Billion)
- 10.3.1 North America Microwave Oven’s Market, 2024 – 2033 (USD Billion)
- 10.4 North America Microwave Oven’s Market, by Type, 2024 – 2033
- 10.4.1 North America Microwave Oven’s Market, by Type, 2024 – 2033 (USD Billion)
- 10.5 North America Microwave Oven’s Market, by Size, 2024 – 2033
- 10.5.1 North America Microwave Oven’s Market, by Size, 2024 – 2033 (USD Billion)
- 10.6 North America Microwave Oven’s Market, by Application, 2024 – 2033
- 10.6.1 North America Microwave Oven’s Market, by Application, 2024 – 2033 (USD Billion)
- 10.7 North America Microwave Oven’s Market, by Technology, 2024 – 2033
- 10.7.1 North America Microwave Oven’s Market, by Technology, 2024 – 2033 (USD Billion)
- 10.8 North America Microwave Oven’s Market, by Distribution Channel, 2024 – 2033
- 10.8.1 North America Microwave Oven’s Market, by Distribution Channel, 2024 – 2033 (USD Billion)
- 10.9. Europe
- 10.9.1 Europe Microwave Oven’s Market, 2024 – 2033 (USD Billion)
- 10.9.1.1 Europe Microwave Oven’s Market, by Country, 2024 – 2033 (USD Billion)
- 10.9.1 Europe Microwave Oven’s Market, 2024 – 2033 (USD Billion)
- 10.10 Europe Microwave Oven’s Market, by Type, 2024 – 2033
- 10.10.1 Europe Microwave Oven’s Market, by Type, 2024 – 2033 (USD Billion)
- 10.11 Europe Microwave Oven’s Market, by Size, 2024 – 2033
- 10.11.1 Europe Microwave Oven’s Market, by Size, 2024 – 2033 (USD Billion)
- 10.12 Europe Microwave Oven’s Market, by Application, 2024 – 2033
- 10.12.1 Europe Microwave Oven’s Market, by Application, 2024 – 2033 (USD Billion)
- 10.13 Europe Microwave Oven’s Market, by Technology, 2024 – 2033
- 10.13.1 Europe Microwave Oven’s Market, by Technology, 2024 – 2033 (USD Billion)
- 10.14 Europe Microwave Oven’s Market, by Distribution Channel, 2024 – 2033
- 10.14.1 Europe Microwave Oven’s Market, by Distribution Channel, 2024 – 2033 (USD Billion)
- 10.15. Asia Pacific
- 10.15.1 Asia Pacific Microwave Oven’s Market, 2024 – 2033 (USD Billion)
- 10.15.1.1 Asia Pacific Microwave Oven’s Market, by Country, 2024 – 2033 (USD Billion)
- 10.15.1 Asia Pacific Microwave Oven’s Market, 2024 – 2033 (USD Billion)
- 10.16 Asia Pacific Microwave Oven’s Market, by Type, 2024 – 2033
- 10.16.1 Asia Pacific Microwave Oven’s Market, by Type, 2024 – 2033 (USD Billion)
- 10.17 Asia Pacific Microwave Oven’s Market, by Size, 2024 – 2033
- 10.17.1 Asia Pacific Microwave Oven’s Market, by Size, 2024 – 2033 (USD Billion)
- 10.18 Asia Pacific Microwave Oven’s Market, by Application, 2024 – 2033
- 10.18.1 Asia Pacific Microwave Oven’s Market, by Application, 2024 – 2033 (USD Billion)
- 10.19 Asia Pacific Microwave Oven’s Market, by Technology, 2024 – 2033
- 10.19.1 Asia Pacific Microwave Oven’s Market, by Technology, 2024 – 2033 (USD Billion)
- 10.20 Asia Pacific Microwave Oven’s Market, by Distribution Channel, 2024 – 2033
- 10.20.1 Asia Pacific Microwave Oven’s Market, by Distribution Channel, 2024 – 2033 (USD Billion)
- 10.21. Latin America
- 10.21.1 Latin America Microwave Oven’s Market, 2024 – 2033 (USD Billion)
- 10.21.1.1 Latin America Microwave Oven’s Market, by Country, 2024 – 2033 (USD Billion)
- 10.21.1 Latin America Microwave Oven’s Market, 2024 – 2033 (USD Billion)
- 10.22 Latin America Microwave Oven’s Market, by Type, 2024 – 2033
- 10.22.1 Latin America Microwave Oven’s Market, by Type, 2024 – 2033 (USD Billion)
- 10.23 Latin America Microwave Oven’s Market, by Size, 2024 – 2033
- 10.23.1 Latin America Microwave Oven’s Market, by Size, 2024 – 2033 (USD Billion)
- 10.24 Latin America Microwave Oven’s Market, by Application, 2024 – 2033
- 10.24.1 Latin America Microwave Oven’s Market, by Application, 2024 – 2033 (USD Billion)
- 10.25 Latin America Microwave Oven’s Market, by Technology, 2024 – 2033
- 10.25.1 Latin America Microwave Oven’s Market, by Technology, 2024 – 2033 (USD Billion)
- 10.26 Latin America Microwave Oven’s Market, by Distribution Channel, 2024 – 2033
- 10.26.1 Latin America Microwave Oven’s Market, by Distribution Channel, 2024 – 2033 (USD Billion)
- 10.27. The Middle-East and Africa
- 10.27.1 The Middle-East and Africa Microwave Oven’s Market, 2024 – 2033 (USD Billion)
- 10.27.1.1 The Middle-East and Africa Microwave Oven’s Market, by Country, 2024 – 2033 (USD Billion)
- 10.27.1 The Middle-East and Africa Microwave Oven’s Market, 2024 – 2033 (USD Billion)
- 10.28 The Middle-East and Africa Microwave Oven’s Market, by Type, 2024 – 2033
- 10.28.1 The Middle-East and Africa Microwave Oven’s Market, by Type, 2024 – 2033 (USD Billion)
- 10.29 The Middle-East and Africa Microwave Oven’s Market, by Size, 2024 – 2033
- 10.29.1 The Middle-East and Africa Microwave Oven’s Market, by Size, 2024 – 2033 (USD Billion)
- 10.30 The Middle-East and Africa Microwave Oven’s Market, by Application, 2024 – 2033
- 10.30.1 The Middle-East and Africa Microwave Oven’s Market, by Application, 2024 – 2033 (USD Billion)
- 10.31 The Middle-East and Africa Microwave Oven’s Market, by Technology, 2024 – 2033
- 10.31.1 The Middle-East and Africa Microwave Oven’s Market, by Technology, 2024 – 2033 (USD Billion)
- 10.32 The Middle-East and Africa Microwave Oven’s Market, by Distribution Channel, 2024 – 2033
- 10.32.1 The Middle-East and Africa Microwave Oven’s Market, by Distribution Channel, 2024 – 2033 (USD Billion)
- Chapter 11. Company Profiles
- 11.1 Whirlpool Corporation
- 11.1.1 Overview
- 11.1.2 Financials
- 11.1.3 Product Portfolio
- 11.1.4 Business Strategy
- 11.1.5 Recent Developments
- 11.2 Samsung Electronics Co. Ltd.
- 11.2.1 Overview
- 11.2.2 Financials
- 11.2.3 Product Portfolio
- 11.2.4 Business Strategy
- 11.2.5 Recent Developments
- 11.3 LG Electronics Inc.
- 11.3.1 Overview
- 11.3.2 Financials
- 11.3.3 Product Portfolio
- 11.3.4 Business Strategy
- 11.3.5 Recent Developments
- 11.4 Panasonic Corporation
- 11.4.1 Overview
- 11.4.2 Financials
- 11.4.3 Product Portfolio
- 11.4.4 Business Strategy
- 11.4.5 Recent Developments
- 11.5 Sharp Corporation
- 11.5.1 Overview
- 11.5.2 Financials
- 11.5.3 Product Portfolio
- 11.5.4 Business Strategy
- 11.5.5 Recent Developments
- 11.6 Bosch Home Appliances
- 11.6.1 Overview
- 11.6.2 Financials
- 11.6.3 Product Portfolio
- 11.6.4 Business Strategy
- 11.6.5 Recent Developments
- 11.7 Electrolux AB
- 11.7.1 Overview
- 11.7.2 Financials
- 11.7.3 Product Portfolio
- 11.7.4 Business Strategy
- 11.7.5 Recent Developments
- 11.8 Haier Group Corporation
- 11.8.1 Overview
- 11.8.2 Financials
- 11.8.3 Product Portfolio
- 11.8.4 Business Strategy
- 11.8.5 Recent Developments
- 11.9 Midea Group
- 11.9.1 Overview
- 11.9.2 Financials
- 11.9.3 Product Portfolio
- 11.9.4 Business Strategy
- 11.9.5 Recent Developments
- 11.10 Dacor Inc.
- 11.10.1 Overview
- 11.10.2 Financials
- 11.10.3 Product Portfolio
- 11.10.4 Business Strategy
- 11.10.5 Recent Developments
- 11.11 IFB Industries Ltd.
- 11.11.1 Overview
- 11.11.2 Financials
- 11.11.3 Product Portfolio
- 11.11.4 Business Strategy
- 11.11.5 Recent Developments
- 11.12 GE Appliances a Haier Company
- 11.12.1 Overview
- 11.12.2 Financials
- 11.12.3 Product Portfolio
- 11.12.4 Business Strategy
- 11.12.5 Recent Developments
- 11.13 Kenmore (Sears Brands)
- 11.13.1 Overview
- 11.13.2 Financials
- 11.13.3 Product Portfolio
- 11.13.4 Business Strategy
- 11.13.5 Recent Developments
- 11.14 Breville Group Limited
- 11.14.1 Overview
- 11.14.2 Financials
- 11.14.3 Product Portfolio
- 11.14.4 Business Strategy
- 11.14.5 Recent Developments
- 11.15 Toshiba Corporation
- 11.15.1 Overview
- 11.15.2 Financials
- 11.15.3 Product Portfolio
- 11.15.4 Business Strategy
- 11.15.5 Recent Developments
- 11.16 Others.
- 11.16.1 Overview
- 11.16.2 Financials
- 11.16.3 Product Portfolio
- 11.16.4 Business Strategy
- 11.16.5 Recent Developments
- 11.1 Whirlpool Corporation
List Of Figures
Figures No 1 to 34
List Of Tables
Tables No 1 to 127
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2032
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
|
|
| Demand-side |
|
|
Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|
|
Prominent Player
- Whirlpool Corporation
- Samsung Electronics Co. Ltd.
- LG Electronics Inc.
- Panasonic Corporation
- Sharp Corporation
- Bosch Home Appliances
- Electrolux AB
- Haier Group Corporation
- Midea Group
- Dacor Inc.
- IFB Industries Ltd.
- GE Appliances a Haier Company
- Kenmore (Sears Brands)
- Breville Group Limited
- Toshiba Corporation
- Others
FAQs
The key factors driving the Market are Changing Lifestyles and Time Constraints, Technological Advancements and Smart Features, Health Consciousness and Nutritious Cooking, Rising Urbanization and Limited Kitchen Space, Sustainability and Energy Efficiency, Culinary Versatility and Innovative Designs.
The “Commercial” had the largest share in the global market for Microwave Oven.
The “Solo” category dominated the market in 2023.
The key players in the market are Whirlpool Corporation, Samsung Electronics Co. Ltd., LG Electronics Inc., Panasonic Corporation, Sharp Corporation, Bosch Home Appliances, Electrolux AB, Haier Group Corporation, Midea Group, Dacor Inc., IFB Industries Ltd., GE Appliances a Haier Company, Kenmore (Sears Brands), Breville Group Limited, Toshiba Corporation, Others.
“North America” had the largest share in the Microwave Oven Market.
The global market is projected to grow at a CAGR of 4.2% during the forecast period, 2024-2033.
The Microwave Oven Market size was valued at USD 19.1 Billion in 2024.