Summary

Microwave Oven Market Growth & Trends

The global microwave oven market size is anticipated to reach USD 13.24 billion by 2030, according to a new report by Grand View Research, Inc., rising at a CAGR of 2.8% during the forecast period. Improving the standard of living of consumers, a growing number of nuclear families, and increasing demand for frozen and ready-to-eat food are some of the key factors stimulating market growth.

A growing number of working women and preoccupied schedules of people in urban cities are likely to fuel the demand for ovens. A large part of new households comprises working singles who prefer to dine out rather than setting up their kitchen. This may be a drawback for the residential appliance market. However, this trend is estimated to boost the culture of quick-service restaurants, cafes, and small eateries, which in turn will work in favor of the market.

Robust growth of the hospitality sector and rising catering contracts for large-scale functions, seminars, and other social gatherings are also expected to stir up the demand for commercial appliances over the forecast period. In the case of the residential application segment, the most significant driver is the changing lifestyles and food consumption preferences of people, with more consumers shifting towards ready-to-eat and frozen food.

Macroeconomic factors such as growing population, rising disposable income of consumers, and increasing awareness of different cooking media such as microwave oven, grills, and barbeques are projected to impact the market positively.

Microwave Oven Market Report Highlights

• The convection segment is poised to maintain its dominance in the market over the forecast period.

• The grill microwave ovens segment is expected to grow at a significant CAGR of 3.05% over the forecast period.

• The Asia Pacific held the largest revenue share of 33.6% in 2022 and is expected to capture the largest CAGR of 4.8% from 2023 to 2030

• The household segment accounted for a revenue share of 60.6% of the global market in 2022.

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Table of Contents

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.1.1. Product
1.1.2. Application
1.1.3. Structure
1.1.4. Regional scope
1.1.5. Estimates and forecast timeline
1.2. Research Methodology
1.3. Information Procurement
1.3.1. Purchased database
1.3.2. GVR’s internal database
1.3.3. Secondary sources
1.3.4. Primary research
1.3.5. Details of primary research
1.4. Information or Data Analysis
1.5. Market Formulation & Validation
1.6. Model Details
1.7. List of Secondary Sources
1.8. List of Primary Sources
1.9. Objectives
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Product outlook
2.2.2. Application outlook
2.2.3. Structure outlook
2.2.4. Regional outlook
2.3. Competitive Insights
Chapter 3. Microwave Oven Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Market Opportunity Analysis
3.4. Microwave Oven Market Analysis Tools
3.4.1. Industry Analysis - Porter’s
3.4.1.1. Supplier power
3.4.1.2. Buyer power
3.4.1.3. Substitution threat
3.4.1.4. Threat of new entrant
3.4.1.5. Competitive rivalry
3.4.2. PESTEL analysis
3.4.2.1. Political landscape
3.4.2.2. Technological landscape
3.4.2.3. Economic Landscape
Chapter 4. Microwave Oven Market: Product Estimates & Trend Analysis
4.1. Microwave Oven Market: Key Takeaways
4.2. Microwave Oven Market: Movement & Market Share Analysis, 2022 & 2030
4.3. Convection
4.3.1. Convection market estimates and forecasts, 2017 to 2030 (USD Million)
4.4. Grill
4.4.1. Grill market estimates and forecasts, 2017 to 2030 (USD Million)
4.5. Solo
4.5.1. Solo market estimates and forecasts, 2017 to 2030 (USD Million)
Chapter 5. Microwave Oven Market: Application Estimates & Trend Analysis
5.1. Microwave Oven Market: Key Takeaways
5.2. Microwave Oven Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Commercial
5.3.1. Commercial market estimates and forecasts, 2017 to 2030 (USD Million)
5.4. Household
5.4.1. Household market estimates and forecasts, 2017 to 2030 (USD Million)
Chapter 6. Microwave Oven Market: Structure Estimates & Trend Analysis
6.1. Microwave Oven Market: Key Takeaways
6.2. Microwave Oven Market: Movement & Market Share Analysis, 2022 & 2030
6.3. Built-in
6.3.1. Built-in market estimates and forecasts, 2017 to 2030 (USD Million)
6.4. Countertop
6.4.1. Countertop market estimates and forecasts, 2017 to 2030 (USD Million)
Chapter 7. Microwave Oven Market: Regional Estimates & Trend Analysis
7.1. Regional Outlook
7.2. Microwave Oven Market by Region: Key Takeaway
7.3. North America
7.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.3.2. U.S.
7.3.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.3.3. Canada
7.3.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.4. Europe
7.4.1. UK
7.4.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.4.2. Germany
7.4.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.4.3. France
7.4.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.5. Asia Pacific
7.5.1. Japan
7.5.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.5.2. China
7.5.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.5.3. India
7.5.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.5.4. Australia
7.5.4.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.5.5. South Korea
7.5.5.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.6. Latin America
7.6.1. Brazil
7.6.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.6.2. Mexico
7.6.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.7. MEA
7.7.1. Saudi Arabia
7.7.1.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.7.2. South Africa
7.7.2.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
7.7.3. UAE
7.7.3.1. Market estimates and forecasts, 2017 to 2030 (Revenue, USD Million)
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Market Participant Categorization
8.2.1. AB Electrolux
8.2.1.1. Company overview
8.2.1.2. Financial performance
8.2.1.3. Product benchmarking
8.2.1.4. Strategic initiatives
8.2.2. Alto-Shaam, Inc.
8.2.2.1. Company overview
8.2.2.2. Financial performance
8.2.2.3. Product benchmarking
8.2.2.4. Strategic initiatives
8.2.3. WINIA Electronics Co., Ltd.
8.2.3.1. Company overview
8.2.3.2. Financial performance
8.2.3.3. Product benchmarking
8.2.3.4. Strategic initiatives
8.2.4. Haier Group
8.2.4.1. Company Overview
8.2.4.2. Financial performance
8.2.4.3. Product benchmarking
8.2.4.4. Strategic initiatives
8.2.5. LG Electronics
8.2.5.1. Company overview
8.2.5.2. Financial performance
8.2.5.3. Product benchmarking
8.2.5.4. Strategic initiatives
8.2.6. Panasonic
8.2.6.1. Company overview
8.2.6.2. Financial performance
8.2.6.3. Product benchmarking
8.2.6.4. Strategic initiatives
8.2.7. Robert Bosch GmbH
8.2.7.1. Company overview
8.2.7.2. Financial performance
8.2.7.3. Product benchmarking
8.2.7.4. Strategic initiatives
8.2.8. SHARP CORPORATION
8.2.8.1. Company overview
8.2.8.2. Financial performance
8.2.8.3. Product benchmarking
8.2.8.4. Strategic initiatives
8.2.9. SMEG
8.2.9.1. Company overview
8.2.9.2. Financial performance
8.2.9.3. Product benchmarking
8.2.9.4. Strategic initiatives
8.2.10. Whirlpool Corporation
8.2.10.1. Company overview
8.2.10.2. Financial performance
8.2.10.3. Product benchmarking
8.2.10.4. Strategic initiatives