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Microwave Oven Market (Type - Solo, Grill, and Convection; Application - Commercial, and Residential; Distribution Channel - Modern Trade, Specialty Stores, Online Channels, and Other Distribution Channels): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

  • Published : December, 2019

  • Rep Id : ICT1307

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on the microwave oven market provides an in-depth analysis of segments and sub-segments in the global as well as regional microwave oven market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional microwave oven market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global microwave oven market. According to the report, the global microwave oven market is projected to grow at a CAGR of 5.2% over the forecast period of 2019-2025.

 

Market Insight

The microwave oven is electric, that is used to cook food quickly and heat is produced by the absorption of the microwave energy by a water molecule in the food. Inverter technology has been implemented in the microwave oven. As per the heating load, power level can be adjusted in the inverter microwave oven while in the ordinary microwave, the power level cannot be adjusted once it is ON. The LG MC2883SMP 28 L Convection Microwave is the best microwave oven for the home use purpose because of its versatile nature. The microwave oven is used for the domestic as well as commercial purpose. The microwave oven, which consists of SMPS technology, is more compact and efficient than the double layer microwave oven. Many microwave ovens are operated with auto programmed and easy control panel.

 

The increasing demand for the microwave oven in the industry is boosting the microwave oven market. The Increasing disposal income is the driving factor of the microwave oven market. Microwave ovens, that are equipped with T advanced features such as inverter microwave oven, are enhancing the microwave oven market. Increasing technological advancement associated with microwave oven such as SMPS technology is propelling the microwave oven market. Also, the increasing urbanization in emerging countries is the factor driving the microwave oven market. However, high consumption of energy yet remains one of the major restraints to the microwave oven market. As per the study, microwave oven food may result in cancer. Water content in the food decreases and becomes dry which leads to dehydration. Also, it kills the nutrients and texture of the food. These factors may hamper the microwave oven market. Moreover, the availability of better alternatives offers favorable challenges in the microwave oven market.

 

Geographically, North America is the dominant region in the microwave oven market. Increasing demand for the latest technology is the factor driving the microwave oven market in the North America regions. North America will continue to dominate the microwave oven market throughout the forecast period. The Asia Pacific holds the second largest market share in the microwave oven market. Changing lifestyles and increasing disposable income of the people are boosting the microwave market in the Asia Pacific regions. Europe is expected to grow at the highest CAGR in the forecast period.

 

Segment Covered

The report on the global microwave oven market covers segments such as type, application, and distribution channel. On the basis of type, the sub-markets include solo, grill, and convection. On the basis of application, the sub-markets include commercial, and residential. On the basis of the distribution channel, the sub-markets include modern trade, specialty stores, online channels, and other distribution channels.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Panasonic Corporation, The Whirlpool Corporation, Haier Group Corporation, GE Appliances, Siemens AG, Samsung Electronics Co., Ltd, Midea Group, LG Electronics Inc., Hisense Co., Ltd., and Electrolux AB.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the microwave oven market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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