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    Microwave Oven Market | Covid-19 Impact Analysis

    Microwave Oven Market | Covid-19 Impact Analysis

    Microwave Oven Market | Covid-19 Impact Analysis
    Report code - SRCG178 Delivery - 2 Weeks
    Microwave Oven Market Size, Share, Trend, Forecast, & Industry Analysis – 2021-2 See more...
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    Impact of COVID-19 on Microwave Oven Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Microwave Oven Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Microwave Oven Market Insights

    Microwave Oven market is projected to witness healthy CAGR of 4.9% over the next five years. The key demand generators of the market are growing global population coupled with their rising disposable income, rising standard of living, and rising demand for frozen and ready-to-eat food products.

    Microwave Oven Market - Snapshot

    Growth

    4.9% for the next five year

    Major Product Type

    Convection

    Dominant Application Type

    Residential

    Region with the highest demand

    North America

    Key Players

    Illinois Tool Works Inc., Sharp Corporation, Guangdong Galanz Enterprises Co., Ltd., Whirlpool Corporation, Electrolux AB, LG Electronics Inc., Alto-Shaam, Inc., Panasonic Corporation, Samsung Group, and Haier Electronics

     

    Market Share Analysis

    Microwave-Oven-Market-Dominant-Segments

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    Microwave Oven Market Share: By Product Type

    Based on the product type, the market is segmented as grill, solo, and convection. The convection segment is expected to remain dominant in the market during the forecast period, owing to its wider usage in commercial applications, such as restaurants and hotels and also in residential applications.

    Microwave Oven Market Share: By Application Type

    Based on the application type, the microwave oven market is segmented as commercial and residential. The residential segment is likely to remain the larger application of the market during the forecast period, propelled by changing lifestyle of individuals coupled with rising demand for energy-efficient and compact cooking applications.

    Microwave Oven Market Share: By Region

    North America is likely to maintain its supremacy in the market during the forecast period, mainly driven by high demand for advanced technologies in the USA and Canada. Robust supply chain across the region with presence of a large number of microwave oven manufacturers, component suppliers as well as large consumer base are the key growth propellers of the market.

    Microwave-Oven-Market-By-Region

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    Asia-Pacific is projected to witness the highest growth in the market during the forecast period. Rising population coupled with increasing standard of living along with increase in disposable income, and growing awareness among the individuals is likely to boost the region’s market over the next five years.  

    Some of the major microwave oven manufacturers are-

    • Illinois Tool Works Inc.
    • Sharp Corporation
    • Guangdong Galanz Enterprises Co., Ltd.
    • Whirlpool Corporation
    • Electrolux AB
    • LG Electronics Inc.
    • Alto-Shaam, Inc.
    • Panasonic Corporation
    • Samsung Group
    • Haier Electronics

     

    Market Scope & Segmentation

    Microwave oven is an electronic device or appliance used to cook food with the help of energy obtained from electromagnetic radiation. It offers relatively short cooking time, reduces the risk of burns, is economical and convenient to use.  

    Microwave oven consumes much lesser amount of energy than other cooking appliances, such as gas burner and conventional ovens. Rapid advancements in microwave ovens, such as increase usage of sensors to provide better control, effective utilization of inner cooking space, and integration with internet of things is likely to propel its demand in the coming years.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    Microwave Oven Market Research Report - Features

    Market Segmentation

    4

    Regions Covered

    4

    Countries/Sub-Regions Covered

    12

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The microwave oven market is segmented into the following categories. 

    Microwave Oven Market Size, Share, & Forecast, by Product Type:

    • Grill (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Solo (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Convection (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Microwave Oven Market Size, Share, & Forecast, by Distribution Channel Type:

    • Multi-brand Stores (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Exclusive Stores (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Online Stores (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Microwave Oven Market Size, Share, & Forecast, by Application Type:

    • Commercial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Residential (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Microwave Oven Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Microwave-Oven-Market-Segmentation

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    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

     

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the application types by product type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]


    Frequently Asked Questions (FAQs)

    What will be the growth of Microwave Oven Market in the foreseeable future?

    Microwave oven market is expected to witness an impressive growth of 4.9% CAGR in the foreseeable future.

    Who are the key players in the Microwave Oven Market?

    Illinois Tool Works Inc., Sharp Corporation, Guangdong Galanz Enterprises Co., Ltd., Whirlpool Corporation, Electrolux AB, LG Electronics Inc., Alto-Shaam, Inc., Panasonic Corporation, Samsung Group, and Haier Electronics are among the key players in the microwave oven market.

    Which country/region is expected to witness highest growth in the Microwave Oven Market?

    Asia-Pacific is expected to witness the highest growth in the microwave oven market during the next five years.

    Which product type is expected to remain dominant in the Microwave Oven Market?

    The convection segment is expected to remain dominant in the microwave oven market in the coming years.

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