What is Countertop Microwave Market?
Countertop microwaves generally refer to portable countertop microwaves that can be placed anywhere and are relatively inexpensive and ideal for kitchens with lots of counter space used for cooking foods quickly. These microwave ovens normally range from less than 1.0 cubic feet to 2.0 cubic feet. The factors such as Increased Disposable Income of the People and High Demand of Countertop Microwave for Numerous Applications are driving the global countertop microwave market.
The market study is being classified by Type (< 22 L, 22 - 25 L and > 25 L), by Application (Residential and Commercial) and major geographies with country level break-up.
Electrolux AB (Sweden), Whirlpool Corporation (United States), General Electric Company (United States), Samsung Group (South Korea), Panasonic Corporation (Japan), Siemens AG (Germany), LG (South Korea), Gree Electric (China), Haier (China), Bosch (Germany) and Sharp Corporation (Japan) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Indesit Co. (Italy) and Vatti (China).
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations. Research Analyst at AMA predicts that Global Manufacturers will contribute to the maximum growth of Global Countertop Microwave market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Countertop Microwave market by Type, Application and Region.
On the basis of geography, the market of Countertop Microwave 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
- Increased Disposable Income of the People
- High Demand of Countertop Microwave for Numerous Applications
Market Trend
- Growing Trend of Microwavable Food
- Robust Increase in the Distribution Channels
Restraints
- Fluctuations in the Raw Material Prices
Opportunities
- Increasing Number of Online Customers
- Rising Need for Stylish and Convenient Appliances
Challenges
- Lack of Skilled Professionals
Key Target Audience
Countertop Microwave Manufacturers, Raw Material Suppliers, Distributors, Emerging Companies and End-users