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Microwave Ovens Market Growth Analysis

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Vinayak Patil
Microwave Ovens Market Growth Analysis

Microwave Ovens Market size is projected to reach $28.9 billion units by 2025 from an estimated $25.4 billion unit in 2019, growing at a CAGR of 6.7% globally.

A microwave oven is an appliance that cooks food by means of high-frequency electromagnetic waves called microwaves.

Growing demand for ready-to-eat food, changing eating preferences & lifestyles, and rising income of consumers are among the key trends increasing Microwave Ovens Market growth.

Players are integrating appliances with the IoT platform. Smart kitchen appliances operate through mobile and desktop applications. Also, with growing awareness about energy conservation, microwave oven players are focusing on advancing energy-efficient products that are ENERGY STAR rated.

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Players Covered in Microwave Ovens market are :

  • Amana
  • Bosch
  • Cuisinart
  • Frigidaire
  • GE
  • Kenmore
  • KitchenAid
  • LG
  • Magic Chef
  • Maytag
  • Oster
  • Panasonic
  • Samsung
  • Sharp
  • Whirlpool

 

By Type, Microwave Ovens Market has been segmented into

  • Convection
  • Grill
  • Solo

By Application, Microwave Ovens has been segmented into

  • Commercial
  • Household

Regions and Countries Level Analysis

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
  • Asia-Pacific (China, India, Japan, Southeast Asia etc.)
  • South America (Brazil, Argentina etc.)
  • Middle East & Africa (Saudi Arabia, South Africa etc.)

The microwave ovens market is fragmented. The innovation of new products and the presence of domestic and international companies are expected to enhance competition in the market.

The microwave ovens market is experiencing great growth in the Asia Pacific region, as the majority of sales are expected to start with first-time customers buying microwave ovens. The growing demand for energy-efficient kitchen appliances and the demand for smart appliances will have a positive impact on the market development

The COVID-19 outbreak has caused ups and downs in the industry. This has brought several changes to the market situation. The demand for microwave ovens is increasing due to the limitation of human activity. This will continue to increase as the situation in which people choose cooking as a new hobby.

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