The global demand for Microwave Oven Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028. Whereas with regards to volume, the market was calculated XX Kilo Units in 2019 and foreseen to touch XX Kilo Units by 2026 with a CAGR of XX% during 2020-2026.
A microwave oven, more commonly referred to as a microwave is an electric appliance that heats or cooks food by subjecting it to a high-frequency electromagnetic field. It generates radiation at a frequency of about 2,450 megahertz using a magnetron. In contrast to conventional ovens, microwaves generally don't directly brown or caramelize food, since they infrequently achieve the required temperatures to create Maillard responses. They are exceptionally valuable for the rapid warming of slowly prepared food items, which can quickly burn or turn lumpy when cooked in a conventional way, such as hot spread, fats, chocolate, or porridge.
The global microwave oven market is projected to grow at a healthy rate due to the growing trend of the smart kitchen and professional cookers. A microwave oven is a common kitchen appliance and is popular for reheating previously cooked foods and cooking various foods. It is now recognized as smart appliances. Microwave oven offers many advantages over conventional cook. Food cooked in a microwave oven retains vitamins and minerals better than the other cooking methods. It is also so quick and efficient that it can cook a joint of meat roughly six times faster than a conventional oven. Expanding food strat ups and suppliers also contribute to the growing demand. By recognizing the smart kitchen and connected ecosystem trend, market players integrate appliances with the Internet of Things (IoT) platform and energy-efficient features. Companies have launched new products that can be operated remotely and wirelessly in real-time through mobile and desktop applications.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of microwave oven.
The entire microwave oven market has been sub-categorized into product, application and structure. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
This section covers regional segmentation which accentuates on current and future demand for microwave oven market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Microwave Oven Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the microwave oven market include Whirlpool Corporation, SMEG, Sharp Corporation, Robert Bosch GmbH, Panasonic Corporation, LG Electronics, Haier Group Corporation, Dongbu Daewoo Electronics, Alto-Shaam, AB Electrolux. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.