What is Microwave Oven Market?
The microwave is used as the energy source for cooking food. Microwaves are radio waves, in microwave oven microwaves is used to heat food. The radio wave frequency in microwave oven is roughly 2,500 megahertz. Radio waves in this frequency range have a property, they are absorbed by water, fats and sugars, when they are engrossed they are converted directly into atomic motion and motion is converted into heat. Microwave oven is one of the most commonly used household appliances. The reason for its popularity is that it cooks food in a short amount of time.
The market study is being classified by Type (Solo Microwave, Microwave with Grill, Microwave with Steam, Combinational Microwave, Built-in Microwave and Convection Microwave), by Application (Commercial and Household) and major geographies with country level break-up.
LG Electronics, Inc. (South Korea), Midea Group (China), Heifei Royalstar Industrial Co., Ltd. (China), Panasonic (Japan), Sanyo (Japan), Samsung (South Korea), Kenstar (India), Galanz Group (China), Fotile (China), Sharp Corporation (Japan) and Alto-Shaam, Inc. (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Hangzhou Robam Appliances Co., Ltd. (China), Hoover Limited (United States) and AB Electrolux (Sweden).
Some companies are offering energy-efficient microwave ovens owing to the growing market demand. As consumers prefer less power-consuming microwave ovens, companies are investing heavily in R&D to develop energy-efficient microwave ovens equipped with features such as access to internet, to strengthen their market presence. Research Analyst at AMA predicts that Chinese and Japanese Vendors will contribute to the maximum growth of Global Microwave Oven market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Microwave Oven market by Type, Application and Region.
On the basis of geography, the market of Microwave Oven 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Disposable Income of Consumers
- Rising Catering Contracts for Large-Scale Functions
Market Trend
- Growing Number of Working Women in Urban Cities
- Technologies Advantages such as Easy Clean and Crispwave
Restraints
- Constraint with Metal Container
- Surface Toasting is Impossible
- High-Energy Consumption by Microwave Ovens
Opportunities
- Growth of the Hospitality Sector
- Growing need for Stylish and Convenient Appliances
Challenges
- Closed Container is Dangerous because it could burst
Key Target Audience
Manufacturers of Microwave Oven, Suppliers of Microwave Oven, Wholesalers, Distributers and Retailers of Microwave Oven, Consumer Electronic Industry, Hospitality Sector and Governmental Bodies