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Microwave Oven Market Size, Share, Trends, Innovations, Outlook 2022-2030

The global microwave oven market size is expected to be worth around US$ 21.7 billion by 2030, according to a new report by Vision Research Reports.

The global microwave oven market size was valued at US$ 11.6 billion in 2020 and is anticipated to grow at a CAGR of 3.8% during forecast period 2021 to 2030.

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Report Coverage

Report Scope Details
Market Size US$ 21.7 billion by 2030
Growth Rate CAGR of 3.8% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Product, Application, Structure
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned Whirlpool Corporation, SMEG, Sharp Corporation, Robert Bosch GmbH, Panasonic Corporation, LG Electronics, Haier Group Corporation, Dongbu Daewoo Electronics, Alto-Shaam, and AB Electrolux

Growth Factors

 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.

By Product  Analysis

By product, the market is segmented into grill, solo, and convection microwave ovens. A convection oven is a combination of a regular convection oven with a microwave and supplies both hot air and microwaves for cooking.

Solo models, on the other hand, consist of a magnetron inside for producing microwaves. Solo microwave ovens can heat as well as boil food. However, they do not contain features for roasting and baking.

The segment is poised to maintain its dominance in the market over the forecast period. The segment is anticipated to rise at a CAGR of more than 3.0% over the forecast period.

By Application Analysis

By application, the microwave oven market is divided into commercial and household. Commercial ovens are used for preparing food for a longer duration and in large quantities.

The household segment accounted for a revenue share of over 61.0% of the global market in 2020 and is characterized by spiraling demand for energy-efficient and compact cooking appliances.

By Structure Analysis

Based on structure, the market is bifurcated into the countertop and built-in microwave ovens. Built-in appliances can easily fit into a kitchen’s customized space and thus, increase the overall aesthetic appeal of the commercial or residential space.

As compared to countertop appliances, the built-in segment is estimated to progress at a higher CAGR over the forecast period owing to the increasing installation of designer kitchen ranges.

By Regional Analysis

 The North America region dominated the market with a revenue share of over 31.0% in 2020. It is projected to account for the highest revenue share throughout the forecast period.

Asia Pacific is anticipated to witness considerable growth of around 5.0% over the forecast period. Rising disposable income and improving standard of living of consumers are playing a vital role in driving the market, especially in countries such as India, China, Philippines, and Korea.

Key Players

 Whirlpool Corporation, SMEG, Sharp Corporation, Robert Bosch GmbH, Panasonic Corporation, LG Electronics, Haier Group Corporation, Dongbu Daewoo Electronics, Alto-Shaam, and AB Electrolux.

Market Segmentation

  • By Product
    • Convection
    • Grill
    • Solo
  • By Application
    • Commercial
    • Household
  • By Structure
    • Built-in
    • Countertop
  • Regional
    • North America
    • Europe
    • Asia Pacific
    • Rest of the World (RoW)

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Microwave Oven Market, By Product

7.1.  Microwave Oven Market, by Product, 2021-2030

7.1.1.    Convection

7.1.1.1.        Market Revenue and Forecast (2017-2030)

7.1.2.    Grill

7.1.2.1.        Market Revenue and Forecast (2017-2030)

7.1.3.    Solo

7.1.3.1.        Market Revenue and Forecast (2017-2030)

Chapter 8.  Global Microwave Oven Market, By Application

8.1.  Microwave Oven Market, by Application, 2021-2030

8.1.1.    Commercial

8.1.1.1.        Market Revenue and Forecast (2017-2030)

8.1.2.    Household

8.1.2.1.        Market Revenue and Forecast (2017-2030)

Chapter 9.  Global Microwave Oven Market, By Structure

9.1.  Microwave Oven Market, by Structure, 2021-2030

9.1.1.    Built-in

9.1.1.1.        Market Revenue and Forecast (2017-2030)

9.1.2.    Countertop

9.1.2.1.        Market Revenue and Forecast (2017-2030)

Chapter 10.      Global Microwave Oven Market, Regional Estimates and Trend Forecast

10.1.        North America

10.1.1.  Market Revenue and Forecast, by Product (2017-2030)

10.1.2.  Market Revenue and Forecast, by Application (2017-2030)

10.1.3.  Market Revenue and Forecast, by Structure (2017-2030)

10.1.4.  U.S.

10.1.4.1.      Market Revenue and Forecast, by Product (2017-2030)

10.1.4.2.      Market Revenue and Forecast, by Application (2017-2030)

10.1.4.3.      Market Revenue and Forecast, by Structure (2017-2030)

10.1.5.  Rest of North America

10.1.5.1.      Market Revenue and Forecast, by Product (2017-2030)

10.1.5.2.      Market Revenue and Forecast, by Application (2017-2030)

10.1.5.3.      Market Revenue and Forecast, by Structure (2017-2030)

10.2.        Europe

10.2.1.  Market Revenue and Forecast, by Product (2017-2030)

10.2.2.  Market Revenue and Forecast, by Application (2017-2030)

10.2.3.  Market Revenue and Forecast, by Structure (2017-2030)

10.2.4.  UK

10.2.4.1.      Market Revenue and Forecast, by Product (2017-2030)

10.2.4.2.      Market Revenue and Forecast, by Application (2017-2030)

10.2.4.3.      Market Revenue and Forecast, by Structure (2017-2030)

10.2.5.  Germany

10.2.5.1.      Market Revenue and Forecast, by Product (2017-2030)

10.2.5.2.      Market Revenue and Forecast, by Application (2017-2030)

10.2.5.3.      Market Revenue and Forecast, by Structure (2017-2030)

10.2.6.  France

10.2.6.1.      Market Revenue and Forecast, by Product (2017-2030)

10.2.6.2.      Market Revenue and Forecast, by Application (2017-2030)

10.2.6.3.      Market Revenue and Forecast, by Structure (2017-2030)

10.2.7.  Rest of Europe

10.2.7.1.      Market Revenue and Forecast, by Product (2017-2030)

10.2.7.2.      Market Revenue and Forecast, by Application (2017-2030)

10.2.7.3.      Market Revenue and Forecast, by Structure (2017-2030)

10.3.        APAC

10.3.1.  Market Revenue and Forecast, by Product (2017-2030)

10.3.2.  Market Revenue and Forecast, by Application (2017-2030)

10.3.3.  Market Revenue and Forecast, by Structure (2017-2030)

10.3.4.  India

10.3.4.1.      Market Revenue and Forecast, by Product (2017-2030)

10.3.4.2.      Market Revenue and Forecast, by Application (2017-2030)

10.3.4.3.      Market Revenue and Forecast, by Structure (2017-2030)

10.3.5.  China

10.3.5.1.      Market Revenue and Forecast, by Product (2017-2030)

10.3.5.2.      Market Revenue and Forecast, by Application (2017-2030)

10.3.5.3.      Market Revenue and Forecast, by Structure (2017-2030)

10.3.6.  Japan

10.3.6.1.      Market Revenue and Forecast, by Product (2017-2030)

10.3.6.2.      Market Revenue and Forecast, by Application (2017-2030)

10.3.6.3.      Market Revenue and Forecast, by Structure (2017-2030)

10.3.7.  Rest of APAC

10.3.7.1.      Market Revenue and Forecast, by Product (2017-2030)

10.3.7.2.      Market Revenue and Forecast, by Application (2017-2030)

10.3.7.3.      Market Revenue and Forecast, by Structure (2017-2030)

10.4.        MEA

10.4.1.  Market Revenue and Forecast, by Product (2017-2030)

10.4.2.  Market Revenue and Forecast, by Application (2017-2030)

10.4.3.  Market Revenue and Forecast, by Structure (2017-2030)

10.4.4.  GCC

10.4.4.1.      Market Revenue and Forecast, by Product (2017-2030)

10.4.4.2.      Market Revenue and Forecast, by Application (2017-2030)

10.4.4.3.      Market Revenue and Forecast, by Structure (2017-2030)

10.4.5.  North Africa

10.4.5.1.      Market Revenue and Forecast, by Product (2017-2030)

10.4.5.2.      Market Revenue and Forecast, by Application (2017-2030)

10.4.5.3.      Market Revenue and Forecast, by Structure (2017-2030)

10.4.6.  South Africa

10.4.6.1.      Market Revenue and Forecast, by Product (2017-2030)

10.4.6.2.      Market Revenue and Forecast, by Application (2017-2030)

10.4.6.3.      Market Revenue and Forecast, by Structure (2017-2030)

10.4.7.  Rest of MEA

10.4.7.1.      Market Revenue and Forecast, by Product (2017-2030)

10.4.7.2.      Market Revenue and Forecast, by Application (2017-2030)

10.4.7.3.      Market Revenue and Forecast, by Structure (2017-2030)

10.5.        Latin America

10.5.1.  Market Revenue and Forecast, by Product (2017-2030)

10.5.2.  Market Revenue and Forecast, by Application (2017-2030)

10.5.3.  Market Revenue and Forecast, by Structure (2017-2030)

10.5.4.  Brazil

10.5.4.1.      Market Revenue and Forecast, by Product (2017-2030)

10.5.4.2.      Market Revenue and Forecast, by Application (2017-2030)

10.5.4.3.      Market Revenue and Forecast, by Structure (2017-2030)

10.5.5.  Rest of LATAM

10.5.5.1.      Market Revenue and Forecast, by Product (2017-2030)

10.5.5.2.      Market Revenue and Forecast, by Application (2017-2030)

10.5.5.3.      Market Revenue and Forecast, by Structure (2017-2030)

Chapter 11.  Company Profiles

11.1.              Whirlpool Corporation

11.1.1.  Company Overview

11.1.2.  Product Offerings

11.1.3.  Financial Performance

11.1.4.  Recent Initiatives

11.2.              SMEG

11.2.1.  Company Overview

11.2.2.  Product Offerings

11.2.3.  Financial Performance

11.2.4.  Recent Initiatives

11.3.              Sharp Corporation

11.3.1.  Company Overview

11.3.2.  Product Offerings

11.3.3.  Financial Performance

11.3.4.  Recent Initiatives

11.4.              Robert Bosch GmbH

11.4.1.  Company Overview

11.4.2.  Product Offerings

11.4.3.  Financial Performance

11.4.4.  Recent Initiatives

11.5.              Panasonic Corporation

11.5.1.  Company Overview

11.5.2.  Product Offerings

11.5.3.  Financial Performance

11.5.4.  Recent Initiatives

11.6.              LG Electronics

11.6.1.  Company Overview

11.6.2.  Product Offerings

11.6.3.  Financial Performance

11.6.4.  Recent Initiatives

11.7.              Haier Group Corporation

11.7.1.  Company Overview

11.7.2.  Product Offerings

11.7.3.  Financial Performance

11.7.4.  Recent Initiatives

11.8.              Dongbu Daewoo Electronics

11.8.1.  Company Overview

11.8.2.  Product Offerings

11.8.3.  Financial Performance

11.8.4.  Recent Initiatives

11.9.              Alto-Shaam

11.9.1.  Company Overview

11.9.2.  Product Offerings

11.9.3.  Financial Performance

11.9.4.  Recent Initiatives

11.10.           AB Electrolux

11.10.1.               Company Overview

11.10.2.               Product Offerings

11.10.3.               Financial Performance

11.10.4.               Recent Initiatives

Chapter 12.  Research Methodology

12.1.              Primary Research

12.2.              Secondary Research

12.3.              Assumptions

Chapter 13.  Appendix

13.1.              About Us

13.2.              Glossary of Terms

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