Scope of the Study
Microwave Ovens are being used in household and commercial places which mainly works on the principle of thermal energy and requires heating the polar molecules in food items called as dialectic heating. Microwave rays released from these ovens are usually of shorter wavelength but have a large amount of energy and helps in cooking. The oven depends on the power output and it is used for the purpose of baking, roasting, and grilling. Further, Robust growth in the hospitality sector, its increasing usage in research laboratories and increasing catering contracts for large-scale functions, seminars, and other social gatherings is driving the microwave oven market.
The market study is being classified by Type (Convection, Grill and Solo), by Application (Commercial and Household) and major geographies with country level break-up. According to AMA, the Global Microwave Ovens market is expected to see growth rate of 4.8% and may see market size of USD26399.79 Million by 2024.
Amana Corporation (United States), Bosch (Germany), Cuisinart (United States), Frigidaire (United States), GE (United States), Kenmore (United States), LG Electronics (South Korea), Samsung Electronics (South Korea), Alto-Shaam Inc. (South Korea), AB Electrolux (Sweden), Whirlpool Corporation (United States) and Panasonic Corporation (Japan) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Sharp Corporation (Japan), Hoover Limited (United States), Illinois Tool Works Inc.(United States) and Galanz Enterprise Group (China).
Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Microwave Ovens market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Microwave Ovens market by Type, Application and Region.
On the basis of geography, the market of Microwave Ovens has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Structure, the sub-segment i.e. Built-in will boost the Microwave Ovens market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Number of Working Women
- Rapid Advancement in Electronic Appliances
- Changing Lifestyle and Food Consumption Preferences
- Increasing Awareness about Different Cooking Media such as Microwave Oven, Grill & Barbeques
- Rising Demand for RTE food among Consumers
- High Energy Consumption by Microwave Ovens
- Elevating Rate of Urbanization and Rising Investment in Cooking Appliances
- Launch of Energy Efficient and Easy To Use Kitchen Appliances
- High Electricity Cost Limits the use of Such Appliances For Household Purposes
March 2019, Government expands Standards & Labelling Program for Energy Efficient appliances to include Microwave Ovens. The Government has estimated savings of over USD 3.0 Billion units of electricity at consume-end through the adoption of Star Rated Microwave Ovens by 2030. This would be equivalent to Green House Gases (GHG) reduction of 2.6 Million-ton of CO2 by the year 2030 through these initiatives
Key Target AudienceMicrowave Ovens Manufacturers, Industry Associations, Potential Investors, Marketing firms, Government and Regulatory Bodies and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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