“Consumers ‘ increased disposable income is projected to be one of the main driving factors of the sector of Microwave Oven Market”, says Visiongain

01 November 2019

Microwave Oven Market Report 2020-2030: Forecasts by Distribution Channel (Specialty Stores, Supermarkets/Hypermarkets, E-Commerce, Others), By Type (Grill, Solo, Convection), By Application (Residential, Commercial), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) and profiling of leading international and domestic companies.

Consumers ' increased disposable income is projected to be one of the main driving factors of the sector. As a result, a high consumer tendency to spend more on smart devices is projected to further increase overall demand. Consumers are more focused on buying new and innovative home appliances, such as microwave ovens with a variety of advanced features.

Market players are increasingly using Internet of Things (IoT) platform to integrate appliances. Smart kitchen appliances operate in real time via mobile and desktop applications remotely and wirelessly. In turn, with increasing awareness of energy conservation, microwave oven producers are focused on developing power-efficient goods that are rated ENERGY STAR. The growth of the working-class population base is expected to increase demand for microwave ovens. It is predicted that key market players sell novel and innovative products such as auto program fitted microwave ovens and simple control panels to improve their functionality and satisfy growing consumer demands.

The demand for microwave ovens is split into industrial and domestic goods by request. Commercial ovens are used to prepare food in large quantities for a longer period of time. These are also meant for the storage of excess electricity and the constant use of machinery. On the other hand, products designed for home uses are easy to use and have a user-friendly interface.

In 2019, the household segment represented a revenue share of more than 60.0 percent of the global market and is characterized by a spiraling demand for energy-efficient and compact cooking appliances. On the other hand, due to its wide scope of application in fast-growing service restaurants and fast food centers, the commercial segment is likely to exhibit a higher CAGR during the forecast period.

The region of North America dominated the market in 2019 with a revenue share of more than 30%. The highest revenue share is expected to be accounted for throughout the forecast period. Increased demand for state-of - the-art technology-enabled goods is one of the US and Canada's primary market growth stimulants. However, the region is capable of witnessing slow growth, which can be attributed to the region's existing high product penetration.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

Recent News

Visiongain publishes Electronic Adhesives Market Report 2020-2030

Owing to many advances and growing sales of consumer electronics goods, the growth of the electrical & electronics industry is boosting demand for adhesives.

02 May 2020


“Increasing expenditure in IoT and process automation systems across shipping industry is expected to drive significant revenue growth in the global smart port market”

The 150+ page report offers market forecasts and analysis for 13 leading national markets and the rest of the world market. In addition, the report contains a dedicated leading companies’ chapter covering more than 13 companies leading the field in Smart Port Market.

24 April 2020


“Unmanned Traffic Management market worth $608.2 million in 2019” says Visiongain report

The unmanned traffic management market is about to enter a period of phenomenal growth and innovation. The next ten years will see the upsurge demand of unmanned traffic management.

05 February 2020


New Visiongain report: Water Quality Sensor Market 2020 – 2030

Increasing need to assess the quality of water before supplying it to the distribution system has prompted water treatment facilities to install water quality sensors, which ultimately increases demand for water quality sensor goods.

07 November 2019