Microwave oven is an electrically operated kitchen appliance, used for heating and cooking of various types of food items. Major factors driving the growth of the global microwave oven market are rising demand for household ovens and increasing adoption of the latest technologically advanced kitchen appliances for personal as well as commercial use. However, radiation emission and high energy consumption by microwave oven are some factors, may hamper the growth of the target market in the near future.
The global microwave oven market report has been segmented on the basis of product type, structure, application, and region. On the basis of product type, the market is segmented into solo, convection, and grill. Convection segment dominates the global market in terms of revenue and expected to maintain its position over the forecast period, owing to the increasing use of convection ovens in many restaurants for defrosting and heating food. On the basis of structure, the market is segmented into build in and counter top. Currently, the counter top segment dominates the global market in terms of revenue. Build in segment expected to dominate the global market in the near future, owing to increasing adoption of designer kitchen. On the basis of application, the market is segmented into the household and commercial. Currently, the household segment dominates the global market in terms of revenue, owing to increasing adoption of microwave ovens. Commercial segment is expected to witness significant growth in terms of revenue, owing increasing use of microwaves in restaurants and fast food chains globally.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is expected to dominate the global market in terms of revenue over the forecast period, owing to the increasing use of microwave ovens in most of the household and restaurants in the region. The market in Asia Pacific is expected to witness significant growth in terms of revenue, owing to increasing local production of electrical appliances, especially in countries like China, South Korea, India, etc.
Key players operating in the global microwave oven market include LG Electronics Inc., Samsung Electronics Co., Ltd., Alto-Shaam, Inc., AB Electrolux, Sharp Corporation, Hoover Limited, Illinois Tool Works Inc., Guangdong Galanz Group Co., Ltd., Whirlpool Corporation, and Panasonic Corporation.