PUBLISHER: Renub Research | PRODUCT CODE: 1463193
PUBLISHER: Renub Research | PRODUCT CODE: 1463193
Microwave Oven Market Report by Type, Application, Structure, Power, Distribution Channel, Regions and Company Analysis 2024-2032
Global Microwave Oven Market is projected to grow at a CAGR of 3.99% between 2024 and 2032, reaching a valuation of US$ 15.52 Billion by 2032. Global Microwave Oven Market was worth US$ 10.91 Billion in 2023.
Microwave ovens are electronic devices that use microwaves to generate heat and cook food. They have become a common kitchen appliance due to their convenience and time-saving capabilities. The surge in the popularity of frozen food items is reshaping consumer cooking habits worldwide, with a consequential impact on the widespread adoption of rapid cooking appliances, notably microwave ovens. Consumers are drawn to their versatility, which effortlessly handles a diverse range of frozen items, from complete meals to snacks. Additionally, these appliances preserve nutritional value, and a rise in disposable income is expected to provide a higher potential to the market.
In February 2022, GE Appliances launched the GE Profile series, which features laundry and kitchen appliances with advanced features such as voice control, AI, and smart upgrades. These appliances cater to modern lifestyles and provide innovative solutions to simplify consumers' lives. The integration of cutting-edge technologies enhances the appliances' performance and aligns with the smart and interconnected home device trend.The microwave oven market grew in 2021 due to increased household spending, particularly in the United States, where consumer spending will reach US$ 15.9 Trillion. This trend has led to a higher demand for microwave ovens as consumers spend more on various products and services.
China Microwave Oven Market
Over the past few decades, the microwave oven market in China has grown significantly. It has become a popular appliance for urban Chinese families due to its convenience, adaptability to various cooking styles, and time-saving capability. Manufacturers have introduced advanced features, such as inverter technology, sensor cooking, and convection capabilities, to cater to customer demands. Health consciousness has also influenced the market, leading to the popularity of microwaves with steam cooking functions and low-power settings. The tech-savvy Chinese population has embraced smart appliances, and microwave ovens are no exception. Wi-Fi-enabled and app-controlled microwaves have become a symbol of the digital age in Chinese kitchens.
Microwave Oven Company News
Key players such as Illinois Tool Works Inc., Sharp, LG Electronics, Whirlpool Corporation, GE Appliances, Panasonic Corporation, Samsung Electronics, and Midea Group dominate the market.
Miele introduced the Miele Steam Oven with HydroClean in August 2023. The self-cleaning function removes food residue by pouring cleaner into the filter at the oven's base and dispersing it throughout the interior.
LG Electronics launched a line of energy-efficient home appliances in August 2023 for the 'Net-Zero House.' These products are designed to help consumers reduce power consumption, operating costs, and environmental impact. The latest kitchen, laundry, and living solutions are eco-friendly and meet the growing demand for sustainable home appliances.
LG Electronics India and ITC Foods partnered in 2023 to revolutionize cooking experiences in India. They aim to provide consumers with enhanced convenience, health benefits, and cooking versatility.
Sharp's 'CookWonder' microwave series will include Kamado C29 and C27, Hikari G25 Grill, and Sakura S20 Solo models in July 2023. These microwaves set a new standard for microwave cooking with simple and healthy options.
Huawei launched MAGICSwave, a new microwave, in March 2023 at MWC 2023 Barcelona. It simplifies the process of building 5G networks, optimizes TCO, and ensures a smooth transition for operators.
Miele's 2022 Steam Oven has a self-cleaning feature called HydroClean that makes maintenance easy. Pour liquid cleaner into the base strainer, and the oven automatically disperses the mixture to remove stubborn food residues.
Type - Global Microwave Oven Marketbreakup in 3 viewpoints:
1. Grill
2. Solo
3. Convection
Application - Global Microwave Oven Marketbreakup in 2 viewpoints:
1. Commercial
2. Household
Structure - Global Microwave Oven Marketbreakup in 2 viewpoints:
1. Built-In
2. Counter Top
Power - Global Microwave Oven Marketbreakup in 4 viewpoints:
1. Up to 700 W
2. 701 W TO 900 W
3. 901 W TO 1000 W
4. Above 1000 W
Distribution Channel - Global Microwave Oven Marketbreakup in 2 viewpoints:
1. Online
2. Offline
Country - Global Microwave Oven Market breakup of 25 Countries:
1. North America
- 1.1 United States
- 1.2 Canada
2. Europe
- 2.1 France
- 2.2 Germany
- 2.3 Italy
- 2.4 Spain
- 2.5 United Kingdom
- 2.6 Belgium
- 2.7 Netherlands
- 2.8 Turkey
3. Asia Pacific
- 3.1 China
- 3.2 Japan
- 3.3 India
- 3.4 South Korea
- 3.5 Thailand
- 3.6 Malaysia
- 3.7 Indonesia
- 3.8 Australia
- 3.9 New Zealand
4. Latin America
- 4.1 Brazil
- 4.2 Mexico
- 4.3 Argentina
5. Middle East & Africa
- 5.1 Saudi Arabia
- 5.2 UAE
- 5.3 South Africa
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. Illinois Tool Works Inc.
2. Sharp
3. LG Electronics
4. Whirlpool Corporation
5. GE Appliances
6. Panasonic Corporation
7. Samsung Electronics
8. Midea Group
Table of Contents
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
- 4.1 Growth Drivers
- 4.2 Challenges
5. Global Microwave Oven Market
6. Market Share - Global Microwave Oven Market
- 6.1 Type
- 6.2 Application
- 6.3 Structure
- 6.4 Power
- 6.5 Distribution Channel
- 6.6 Country
7. Type - Global Microwave Oven Market
- 7.1 Grill
- 7.2 Solo
- 7.3 Convection
8. Application - Global Microwave Oven Market
- 8.1 Commercial
- 8.2 Household
9. Structure - Global Microwave Oven Market
- 9.1 Built-In
- 9.2 Counter Top
10. Power - Global Microwave Oven Market
- 10.1 Up to 700 W
- 10.2 701 W TO 900 W
- 10.3 901 W TO 1000 W
- 10.4 Above 1000 W
11. Distribution Channel - Global Microwave Oven Market
- 11.1 Online
- 11.2 Offline
12. Country - Global Microwave Oven Market
- 12.1 North America
- 12.1.1 United States
- 12.1.2 Canada
- 12.2 Europe
- 12.2.1 France
- 12.2.2 Germany
- 12.2.3 Italy
- 12.2.4 Spain
- 12.2.5 United Kingdom
- 12.2.6 Belgium
- 12.2.7 Netherlands
- 12.2.8 Turkey
- 12.3 Asia Pacific
- 12.3.1 China
- 12.3.2 Japan
- 12.3.3 India
- 12.3.4 South Korea
- 12.3.5 Thailand
- 12.3.6 Malaysia
- 12.3.7 Indonesia
- 12.3.8 Australia
- 12.3.9 New Zealand
- 12.4 Latin America
- 12.4.1 Brazil
- 12.4.2 Mexico
- 12.4.3 Argentina
- 12.5 Middle East & Africa
- 12.5.1 Saudi Arabia
- 12.5.2 UAE
- 12.5.3 South Africa
13. Porter's Five Analysis - Global Microwave Oven Market
- 13.1 Bargaining Power of Buyers
- 13.2 Bargaining Power of Suppliers
- 13.3 Degree of Rivalry
- 13.4 Threat of New Entrants
- 13.5 Threat of Substitutes
14. SWOT Analysis - Global Microwave Oven Market
- 14.1 Strength
- 14.2 Weakness
- 14.3 Opportunity
- 14.4 Threat
15. Company Analysis
- 15.1 Illinois Tool Works Inc
- 15.1.1 Overview
- 15.1.2 Recent Development
- 15.1.3 Revenue
- 15.2 Sharp
- 15.2.1 Overview
- 15.2.2 Recent Development
- 15.2.3 Revenue
- 15.3 LG Electronics
- 15.3.1 Overview
- 15.3.2 Recent Development
- 15.3.3 Revenue
- 15.4 Whirlpool Corporation
- 15.4.1 Overview
- 15.4.2 Recent Development
- 15.4.3 Revenue
- 15.5 GE Appliances
- 15.5.1 Overview
- 15.5.2 Recent Development
- 15.5.3 Revenue
- 15.6 Panasonic Corporation
- 15.6.1 Overview
- 15.6.2 Recent Development
- 15.6.3 Revenue
- 15.7 Samsung Electronics
- 15.7.1 Overview
- 15.7.2 Recent Development
- 15.7.3 Revenue
- 15.8 Midea Group
- 15.8.1 Overview
- 15.8.2 Recent Development
- 15.8.3 Revenue
List of Figures
- Figure-01: Global - Microwave Oven Market (Billion US$), 2019 - 2023
- Figure-02: Global - Forecast for Microwave Oven Market (Billion US$), 2024 - 2032
- Figure-03: Type - Grill Market (Million US$), 2019 - 2023
- Figure-04: Type - Forecast for Grill Market (Million US$), 2024 - 2032
- Figure-05: Type - Solo Market (Million US$), 2019 - 2023
- Figure-06: Type - Forecast for Solo Market (Million US$), 2024 - 2032
- Figure-07: Type - Convection Market (Million US$), 2019 - 2023
- Figure-08: Type - Forecast for Convection Market (Million US$), 2024 - 2032
- Figure-09: Application - Commercial Market (Million US$), 2019 - 2023
- Figure-10: Application - Forecast for Commercial Market (Million US$), 2024 - 2032
- Figure-11: Application - Household Market (Million US$), 2019 - 2023
- Figure-12: Application - Forecast for Household Market (Million US$), 2024 - 2032
- Figure-13: Structure - Built-In Market (Million US$), 2019 - 2023
- Figure-14: Structure - Forecast for Built-In Market (Million US$), 2024 - 2032
- Figure-15: Structure - Counter Top Market (Million US$), 2019 - 2023
- Figure-16: Structure - Forecast for Counter Top Market (Million US$), 2024 - 2032
- Figure-17: Power - Up to 700 W Market (Million US$), 2019 - 2023
- Figure-18: Power - Forecast for Up to 700 W Market (Million US$), 2024 - 2032
- Figure-19: Power - 701 W TO 900 W Market (Million US$), 2019 - 2023
- Figure-20: Power - Forecast for 701 W TO 900 W Market (Million US$), 2024 - 2032
- Figure-21: Power - 901 W TO 1000 W Market (Million US$), 2019 - 2023
- Figure-22: Power - Forecast for 901 W TO 1000 W Market (Million US$), 2024 - 2032
- Figure-23: Power - Above 1000 W Market (Million US$), 2019 - 2023
- Figure-24: Power - Forecast for Above 1000 W Market (Million US$), 2024 - 2032
- Figure-25: Distribution Channel - Online Market (Million US$), 2019 - 2023
- Figure-26: Distribution Channel - Forecast for Online Market (Million US$), 2024 - 2032
- Figure-27: Distribution Channel - Offline Market (Million US$), 2019 - 2023
- Figure-28: Distribution Channel - Forecast for Offline Market (Million US$), 2024 - 2032
- Figure-29: United States - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-30: United States - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-31: Canada - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-32: Canada - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-33: France - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-34: France - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-35: Germany - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-36: Germany - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-37: Italy - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-38: Italy - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-39: Spain - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-40: Spain - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-41: United Kingdom - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-42: United Kingdom - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-43: Belgium - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-44: Belgium - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-45: Netherlands - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-46: Netherlands - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-47: Turkey - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-48: Turkey - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-49: China - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-50: China - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-51: Japan - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-52: Japan - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-53: India - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-54: India - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-55: South Korea - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-56: South Korea - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-57: Thailand - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-58: Thailand - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-59: Malaysia - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-60: Malaysia - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-61: Indonesia - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-62: Indonesia - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-63: Australia - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-64: Australia - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-65: New Zealand - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-66: New Zealand - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-67: Brazil - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-68: Brazil - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-69: Mexico - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-70: Mexico - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-71: Argentina - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-72: Argentina - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-73: Saudi Arabia - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-74: Saudi Arabia - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-75: UAE - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-76: UAE - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-77: South Africa - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-78: South Africa - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-79: Illinois Tool Works Inc - Global Revenue (Million US$), 2019 - 2023
- Figure-80: Illinois Tool Works Inc - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-81: Sharp - Global Revenue (Million US$), 2019 - 2023
- Figure-82: Sharp - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-83: LG Electronics - Global Revenue (Million US$), 2019 - 2023
- Figure-84: LG Electronics - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-85: Whirlpool Corporation - Global Revenue (Million US$), 2019 - 2023
- Figure-86: Whirlpool Corporation - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-87: GE Appliances - Global Revenue (Million US$), 2019 - 2023
- Figure-88: GE Appliances - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-89: Panasonic Corporation - Global Revenue (Million US$), 2019 - 2023
- Figure-90: Panasonic Corporation - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-91: Samsung Electronics - Global Revenue (Million US$), 2019 - 2023
- Figure-92: Samsung Electronics - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-93: Midea Group - Global Revenue (Million US$), 2019 - 2023
- Figure-94: Midea Group - Forecast for Global Revenue (Million US$), 2024 - 2032
List of Tables
- Table-01: Global - Microwave Oven Market Share by Type (Percent), 2019 - 2023
- Table-02: Global - Forecast for Microwave Oven Market Share by Type (Percent), 2024 - 2032
- Table-03: Global - Microwave Oven Market Share by Application (Percent), 2019 - 2023
- Table-04: Global - Forecast for Microwave Oven Market Share by Application (Percent), 2024 - 2032
- Table-05: Global - Microwave Oven Market Share by Structure (Percent), 2019 - 2023
- Table-06: Global - Forecast for Microwave Oven Market Share by Structure (Percent), 2024 - 2032
- Table-07: Global - Microwave Oven Market Share by Power (Percent), 2019 - 2023
- Table-08: Global - Forecast for Microwave Oven Market Share by Power (Percent), 2024 - 2032
- Table-09: Global - Microwave Oven Market Share by Distribution Channel (Percent), 2019 - 2023
- Table-10: Global - Forecast for Microwave Oven Market Share by Distribution Channel (Percent), 2024 - 2032
- Table-11: Global - Microwave Oven Market Share by Countries (Percent), 2019 - 2023
- Table-12: Global - Forecast for Microwave Oven Market Share by Countries (Percent), 2024 - 2032
