global microwave oven market forecast 2026

GLOBAL MICROWAVE OVEN MARKET

FORECAST & OPPORTUNITIES

2016 – 2026

MARKET INTELLIGENCE . CONSULTING

www.techsciresearch.com

2

Scope of ReportProduct of Interest (POI): Microwave Oven

Review Period

2016 – 2019

Base Year

2020

Estimated Year

2021

Forecast Period

2022 – 2026

Year Range

A microwave oven (commonly referred to as a microwave) is an electric oven that heatsand cooks food by exposing it to electromagnetic radiation in the microwave frequencyrange. This induces polar molecules in the food to rotate and produce thermal energy in aprocess known as dielectric heating. Microwave ovens heat foods quickly and efficientlybecause excitation is fairly uniform in the outer 25–38 mm (1–1.5 inches) of ahomogeneous, high water content food item.

Market Segmentation

PRODUCT

• Convection

• Grill

• Solo

REGION

• Europe

• North America

• South America

• Middle East & Africa

• Asia Pacific

APPLICATION

• Household

• Commercial

STRUCTURE

• Free-Standing

• Built-in

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Table of Contents

S. No. Contents Page No.

1. Product Overview (Definition of product and major terminologies used in the report)

2.Research Methodology (Detailed description of the methodology used to conduct the research, Rawdata backup, list of all secondary sources, List of respondents for primary surveys)

3. Voice of Customer

3.1. Brand Awareness

3.2. Factors Influencing Purchase Decisions

4. Executive Summary (This chapter covers summary of the complete study.)

5.

Global Microwave Oven Market Outlook, 2016-2026F (This chapter includes a brief overview of the product of interest market such as total market’s growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.)

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Product (Convection, Grill, Solo)

5.2.2. By Application (Household, Commercial)

5.2.3. By Structure (Free-Standing, Built-in)

5.2.4. By Region

5.2.5. By Company (2020)

4

Table of Contents


5.3. Market Map

6. Asia-Pacific Microwave Oven Market Outlook, 2016-2026F


6.1.1. By Value


6.2.1. By Product

6.2.2. By Application

6.2.3. By Structure

6.2.4. By Country

6.3. Asia-Pacific: Country Analysis

6.3.1. China Microwave Oven Market Outlook, 2016-2026F

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Product

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Table of Contents


6.3.1.2.2. By Application

6.3.1.2.3. By Structure

6.3.2. India Microwave Oven Market Outlook, 2016-2026F


6.3.2.1.1. By Value





6.3.3. Japan Microwave Oven Market Outlook, 2016-2026F


6.3.3.1.1. By Value




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Table of Contents



6.3.4. South Korea Microwave Oven Market Outlook, 2016-2026F


6.3.4.1.1. By Value





7. Europe Microwave Oven Market Outlook, 2016-2026F


7.1.1. By Value


7.2.1. By Product


7.2.3. By Structure

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Table of Contents


7.2.4. By Country

7.3. Europe: Country Analysis

7.3.1. France Microwave Oven Market Outlook, 2016-2026F


7.3.1.1.1. By Value





7.3.2. Germany Microwave Oven Market Outlook, 2016-2026F


7.3.2.1.1. By Value





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Table of Contents


7.3.3. United Kingdom Microwave Oven Market Outlook, 2016-2026F


7.3.3.1.1. By Value





7.3.4. Italy Microwave Oven Market Outlook, 2016-2026F


7.3.4.1.1. By Value





7.3.5. Spain Microwave Oven Market Outlook, 2016-2026F

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Table of Contents



7.3.5.1.1. By Value





8. North America Microwave Oven Market Outlook, 2016-2026F


8.1.1. By Value


8.2.1. By Product


8.2.3. By Structure

8.2.4. By Country

8.3. North America: Country Analysis

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Table of Contents


8.3.1. United States Microwave Oven Market Outlook, 2016-2026F


8.3.1.1.1. By Value





8.3.2. Canada Microwave Oven Market Outlook, 2016-2026F


8.3.2.1.1. By Value





8.3.3. Mexico Microwave Oven Market Outlook, 2016-2026F

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Table of Contents



8.3.3.1.1. By Value





9. South America Microwave Oven Market Outlook, 2016-2026F


9.1.1. By Value


9.2.1. By Product


9.2.3. By Structure

9.2.4. By Country (Brazil, Argentina, Colombia)

9.3. South America: Country Analysis

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Table of Contents

S. No.

Contents Page No.

9.3.1. Brazil Microwave Oven Market Outlook, 2016-2026F


9.3.1.1.1 By Value





9.3.2. Argentina Microwave Oven Market Outlook, 2016-2026F


9.3.2.1.1 By Value





9.3.3. Colombia Microwave Oven Market Outlook, 2016-2026F

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Table of Contents



9.3.3.1.1 By Value





10. Middle East & Africa Microwave Oven Market Outlook, 2016-2026F


10.1.1. By Value


10.2.1. By Product


10.2.3. By Structure

10.2.4. By Country (Saudi Arabia, South Africa, UAE)

10.3. Middle East & Africa : Country Analysis

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Table of Contents


10.3.2.1 Saudi Arabia Microwave Oven Market Outlook, 2016-2026F


10.3.1.1.1. By Value





10.3.2. UAE Microwave Oven Market Outlook, 2016-2026F


10.3.2.1.1. By Value


10.3.2.2.1. By Offering

10.3.2.2.2. By Frequency

10.3.2.2.3. By Vertical

10.3.3. South Africa Microwave Oven Market Outlook, 2016-2026F

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Table of Contents



10.3.3.1.1. By Value





11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Impact of COVID-19 on Global Microwave Oven Market

13. Market Trends & Developments

14. Competitive Landscape

14.1. Competition Outlook

14.2. Company Profiles (Top 10 Market Players)

14.2.1. Company details

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Table of Contents


14.2.2. Financials (As Reported)

14.2.3. Product & Services

14.2.4. Key market focus and geographical presence

14.2.5. Expansion Strategies

14.2.6. Key Management Personnel

15. Strategic Recommendations

16. About Us & Disclaimer

RESEARCH METHODOLOGY

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Research Methodology

✓ Identifying Key Opinion

Leaders

✓ Questionnaire Design

✓ In-depth Interviews

Data Collection

Developing List of Respondents

Formulating Questionnaire

Market Profiling

Data Validation

Data Analysis

In-depth secondary research was conducted to

determine top players in the global microwave oven market, overall market size and segmental market size.

In order to conduct industry experts’

interviews, TechSci formulated a detailed

discussion guide.

List of industry players and industry

specialists was developed.

TechSci conducted interviews with

industry experts and industry players for data collection and

verification.

Data obtained as a result of primary and secondary research was

validated through rigorous

triangulation.

The data was scrutinized using MS-Excel, statistical

tools and internal proprietary database to obtain qualitative and

quantitative insights about the global microwave oven

market.

Data Collection

Data Filter& Analysis

Research &Intelligence

ActionableInsights

BusinessSolution

Primary Research Desk Research Company Analysis

✓ Recent Developments

✓ Market Changing

Aspects/Dynamics

✓ Government Policies

✓ Conclusion

✓ Market Participants

✓ Key Strengths

✓ LinkedIn✓ TechSci Internal

Database

✓ Factiva✓ Hoovers

Paid Sources

✓ Company Websites✓ Company Annual

Reports✓ White Paper Study✓ Financial Reports✓ Investor

Presentations✓ Regulatory Body✓ Associations, etc.

Secondary Research

Primary Research

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Baseline Methodology

Our dedicated team of industry experts has monitored and analyzed various aspects of the global microwave oven market. The team has

analyzed the outlook of various segments of this market, while considering the major influencing factors such as increasing population and

growing demand for technology and smart kitchen. The study includes market forecasting, which would enable our clients to take better

decisions while planning their strategy to achieve sustainability in the global microwave oven market.

Methodology Followed for Calculation of Market Size:

• Market Size by Value & Volume : Market size, in terms of value, for the year 2020 was calculated based on information collected through

exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as microwave oven manufacturers,

channel partners, market influencers & end users, industry experts, and other industry participants.

• The team interviewed more than 15 – 20 microwave oven manufacturers, 100 – 120 end users, and 15 – 20 industry experts and other value

chain stakeholders in the global microwave oven market to obtain the overall market size from 2016 to 2020, which was validated by the

Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during

2016-2020.

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• Respondents were asked about the current and future market growth rates, market shares by product, by application, by structure, by

company and by each region. Removing the outlier responses, the geometric mean of growth estimates and provider wise revenue shares

generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various type

were further triangulated from other stakeholders.

Methodology Followed for Calculation of Market Shares:

• Market shares by product, by application, by structure, by company and by each region were calculated based on the responses received

through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from

various types of microwave oven. The final shares were calculated by taking the geometric mean of the responses gathered from key

opinion leaders after eliminating the outliers.

Methodology Followed for Forecasting:

• TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in

SPSS/Tableau Software.

• Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast global

microwave oven market, TechSci Research used various forecast techniques such as:

✓ Moving Average

✓ Time Series Analysis

✓ Regression Analysis

✓ Econometric and Judgmental Analysis

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TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research

also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It

should be noted that the figures compiled are only for the organized market including market share data. The currency used in the report is the

United States Dollar (USD), with the market size indicated in USD million.

Partial List of Companies Interviewed Key Secondary Sources

▪ Guangdong Galanz Enterprises Co., Ltd.

▪ AB Electrolux

▪ LG Electronics.

▪ Midea Group Co., Ltd.

▪ Samsung Electronics Co., Ltd.

▪ Panasonic Corporation

▪ Sharp Corporation

▪ Whirlpool Corporation

▪ BSH Haugerate GmbH

▪ Breville Group Limited

▪ World Bank

▪ International Monetary Fund (IMF)

▪ TechSci Research Proprietary Database & Knowledge

Repository

▪ Company Annual Reports

▪ Industry Magazines

▪ Industry Reports

▪ News Dailies

▪ Credible Paid Databases

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Indutry Brief

According to TechSci Research report, “Global Microwave Oven Market By Product (Convection, Grill and Solo), By Application (Household and Commercial),

By Structure (Free-Standing and Built-in), By Region, Competition, Forecast & Opportunities, 2026F”, the global microwave oven market is forecast to grow at a

rate of over 4.31% to reach USD36,098.67 million by 2026F. Growth in the market can be attributed to the increasing population and growing demand of people

towards technology and smart kitchens. Furthermore, the consumers are being attracted to smart technologies, and the increase in the disposable income helps

them to purchase the desired products, thus, increasing the demand for microwave ovens. The demand for microwave ovens across the globe is expected to

register strong growth during the forecast period as many factors are promoting its growth such as rising population, increasing number of nuclear families,

growing awareness among consumers about smart kitchen appliances, such as microwave ovens, are projected to impact the market positively.

Globally, the microwave oven market is increasing at a robust scale, owing to rapid economic development, enhancing standard of living of consumers, rising

number of working women, and preoccupied life schedule of people in urban cities. With the introduction of new technology, many companies are likely to

launch products that use less energy and offer better benefits over the usual counterparts. Advanced products bring along inverter-based microwave ovens

which can escalate the market in the future. Moreover, surging demand for frozen and pre-cooked, ready-to-eat food, changing eating preferences & lifestyles,

and the rising number of hotels, restaurants, and cafes are among the key trends escalating the market growth. However, factors such as increase in the price of

raw material, heavy tax burden levy on import and export are further expected to restrict the market growth over the next few years. The requirement for a

microwave oven may gain great support from the rising consumer spending on kitchen appliances. The adoption of kitchen and home appliances is forecast to

witness robust growth, owing to the increasing rate of urbanization.

The busy schedule of people, increasing number of working members in the family is among the top factor affecting the growth of the microwave oven market as

they make cooking simpler and quick. The vigorous growth has been witnessed in the hospitality sector and soaring catering contracts for large-scale functions,

seminars, and other social gatherings which also drives the demand for commercial appliances over the forecast period. The trend of quick-service restaurants,

cafes, and dining out are expected to be in the favour of the market.

The restraints to the market are the upgrading and change in technology which is dynamic in nature, increase in the import and export taxes leading to high

price of the product, which decreases the demand in the market.

The global microwave oven market is segmented based on product, application, structure, and region. In terms of product, the market can be segregated into

convection, grill, and solo. Out of these, the convection segment registered a market share of 52.61% in 2020 due to its multipurpose uses, offering functions

like defrosting, heating, cooking, grilling, baking, and roasting, and also convection automatically adjusts the temperature when the optimum cooking level is

reached. The application segment is split up into household and commercial, where the household segment is dominating due to rapid increase in the population

whereas, the commercial sector is the fastest growing due to the swift increase in number of hotels, bars, cafes and restaurants. Based on structure, the market

is divided into Free-Standing and Built-in. Among which, Free-Standing is dominating the market as it is budget friendly, and can be carried from one place to

another, whereas built-in microwaves are expensive and require installation cost.

In terms of regional analysis, North America is dominating the market due to high per capita income and higher living standard of people. The North America

region has a market share of 34.42% in 2020. Asia-Pacific is the fastest-growing region among the global microwave oven market and the region is projected to

grow at a CAGR of 5.33%, in value terms, during the forecast period. The growing country in the region is India, due to improving lifestyle and standard of living

of people. India has seen an increase in the disposable income of consumers which facilitates the growth of the microwave oven market.

“The expanding size of the population, consumer likeliness about smart kitchen appliances, and growing number of working population are the major factors

driving the global microwave oven market. With this, the per capita income is rising which increases the purchasing power of the consumers which makes them

approach stylish kitchen appliances, complementing the living standard of people.” said Mr. Karan Chechi, Research Director with TechSci Research, a

research based global management consulting firm.

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Sample Data - Snapshot

5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00

2016 2020 2021E 2026F

By Value (USD Million)

Global Microwave Oven Market Size, By Value (USD Million), 2016–2026F

CAGR By Value

XX%CAGR By Value

YY%

40%40%40%40%40%40%40%40%40%40%40%

30%30%30%30%30%30%30%30%30%30%30%

30%30%30%30%30%30%30%30%30%30%30%

2016

2017

2018

2019

2020

2021E

2022F

2023F

2024F

2025F

2026F

Convection Grill Solo

Asia-Pacific Microwave Oven Market Share, By Product, By Value, 2016–2026F

40%40%40%40%40%40%40%40%40%40%40%

60%60%60%60%60%60%60%60%60%60%60%

2016

2017

2018

2019

2020

2021E

2022F

2023F

2024F

2025F

2026F

Household Commercial

India Microwave Oven Market Share, By Application, By Value, 2016–2026F

24

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FORECAST & OPPORTUNITIES

2016 – 2026

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number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The

proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’

model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich

evaluation of the opportunities available in the market.

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The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely,accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considersreliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors oromissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of thisreport. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative marketsize and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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