World Microwave Oven Market, By Product, By Software, By Construction, By Area, Competitors, Forecast, And Alternatives, 2026F – Yahoo Finance
Global Microwave Oven Market, By Product (Convection, Grill, and Solo), By Application (Household and Commercial), By Structure (freestanding and built-in), By Region, Competition, Forecast, and Opportunities, 2026F
New York, June 03, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Release of Global Microwave Oven Market, By Product, By Application, By Structure, By Region, Competition, Forecast, And Opportunity, 2026F report – https : //www.reportlinker.com/p06089418/? utm_source = GNW
The global microwave oven market was estimated at $ 29,845.56 million in 2020 and is expected to grow by over 4.31% over the forecast period. The global microwave oven market is being driven by the growing population and demand for technology and smart kitchens. In addition, growing consumer popularity and increasing disposable income of consumers are expected to increase demand for microwave ovens, thereby fueling market growth through 2026F. In addition, increasing urbanization, industrialization, improving consumer living standards and the increasing number of nuclear families are positively influencing market growth. As technology advances, more companies are likely to develop products that use less energy and are more energy efficient than their traditional counterparts. The growing excitement for connectivity between home appliances and innovations such as inverter-based microwave ovens is expected to open up new market opportunities.
The increasing propensity of consumers to spend on equipment that helps them do their kitchen chores is fueling the growth of the microwave market worldwide. The changing lifestyle of consumers has encouraged them to choose stylish and practical devices.
The global microwave oven market is segmented by product, application, structure and region. Depending on the product, the market can be divided into convection, grill and solo.
The convection microwave is likely to dominate the market, because convection is an all-rounder and offers 360-degree heating, as it has a magnetron and a fan for even cooking. The convection microwave oven has sensor cooking and inverter technology, on the other hand, the grill microwave has a combination grill and power grill technology.
In terms of application, the market is divided into household and commercial segments. Of these, the household segment dominates the market due to the growing population and the high demand for smart devices in the kitchen.
The structure segment is divided into free-standing and built-in, with free-standing leading the market as there are no installation costs and the microwaves can be easily moved from one location to another while built-in microwaves cannot be moved as they are on one Fixed in place and comparatively expensive than the free standings.
Regionally, North America is expected to dominate the market due to the widespread adoption of smart devices in households, and the commercial sector is expected to grow rapidly as there are a large number of restaurants, cafes, and hotels that are expected to be head income and large Population will continue to drive market growth in this region.
In the Asia-Pacific region, significant growth in the overall microwave oven market is expected due to rising disposable incomes and the growing number of hotels in the region, particularly in countries such as China, Japan and India.
The major players in the global Microwave Oven Market are Panasonic Corporation, Midea., AB Electrolux, Whirlpool Corporation, Guangdong Galanz Enterprises Co., Ltd., Samsung Electronics Co., Ltd., LG Electronics, Breville Group Limited, BSH Haugerate GmbH, Sharp Corporation and others. Large companies are developing advanced technologies and launching new microwaves that use less power in order to stay competitive in the market.
Years considered for this report:
Historic years: 2016-2019
Base year: 2020
Estimated year: 2021E
Forecast period: 2022F-2026F
The aim of the study:
• To analyze the historical growth of the market size of the Global Microwave Oven Market from 2016-2020F.
• Estimate and forecast the market size of the global Microwave Oven Market from 2021-2026F, and the growth rate through 2026F.
• Classification and forecast of the global microwave oven market based on product, application, structure, and regional distribution.
• To study competitive developments such as expansion, product launches, mergers and acquisitions, etc. in the global Microwave Oven Market.
• To identify the dominant region or segment in the global Microwave Oven Market.
• Identify drivers and challenges for the global microwave oven market.
• Identify and analyze the profile of leading players in the global Microwave Oven Market.
• Identify the key sustainable strategies being pursued by market participants in the global Microwave Oven Market.
The analyst performed both primary and extensive secondary research for this study. First, the analyst compiled a list of manufacturers around the world.
The analyst then conducted primary research surveys with the identified companies. As part of the interviews, the respondents were also asked about their competitors.
This technique enabled the analyst to include the manufacturers who could not be identified due to the limitations of desk research. The analyst examined the manufacturers and the presence of all major players worldwide.
The analyst calculated the market size of the global Microwave Oven Market using a top-down approach in the overall market and a bottom-up approach in the regional market, collecting data for various segments and forecasting for the coming years. The analyst obtained these values from industry experts and company representatives and validated them externally by analyzing historical data of these product types and applications to obtain an appropriate overall market size.
The analyst also examined various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports.
Most important target group:
• Manufacturers / suppliers / distributors of microwave ovens
• Market research and consulting company
• Government agencies such as regulators and policy makers
• Organizations, forums and alliances related to microwaves
The study is useful in providing answers to several critical questions that are important to industry stakeholders such as manufacturers, suppliers and partners, end users, etc., and enables them to plan investments and seize market opportunities.
In this report, the global Microwave Oven Market has been segmented into the following categories in addition to the industry trends listed below:
• Global Microwave Oven Market By Products:
over the grill
• Global Microwave Oven Market By Application:
• Global Microwave Oven Market By Structure:
• Global Microwave Oven Market By Regions:
o North America
Rest of Europe
or Asia Pacific
Rest of Asia Pacific
o South America
Rest of south america
o Middle East and Africa
United Arab Emirates
Rest of the Middle East and Africa
Company Profiles: In-depth analysis of the key companies in the global Microwave Oven Market.
With the given market data, we offer adjustments to the specific needs of a company. The following customization options are available for the report:
• Detailed analysis and profiling of additional market participants (up to five).
Read the full report: https://www.reportlinker.com/p06089418/?utm_source=GNW
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