Microwave Oven Market Analysis By Product (Convection, Grill, Solo), By Application (Commercial, Household), By Structure (Built-in, Cook top) And Segment Forecasts To 2022

Published: Dec, 2015 | Pages: 90 | Publisher: Grand View Research
Industry: Electronics | Report Format: Electronic (PDF)

The global microwave oven market size is expected to reach USD 12.70 billion by 2022, according to a new study by Grand View Research, Inc. The market is expected to witness a sluggish growth in North America and Europe as microwaves have entered the mature stage of the product life cycle.

Majority of the revenue is generated from the section of population exhibiting willingness to spend on premium kitchen appliances. Changing lifestyles of people, especially the working class, have increased the popularity of frozen and ready-to-eat packaged foods which has positively impacted market growth.

Inclination towards the use of traditional cooking equipment can be viewed as a hindrance for microwave ovens' adoption, especially in developing countries. High electricity consumption and the costs associated with it are expected to challenge industry growth, which has led to manufacturers developing energy efficient microwaves.

Further key findings from the study suggest:

Convection ovens accounted for over 45% of the market share in 2014, which can be primarily attributed to their ability to cook food faster. In addition, these microwave ovens facilitate the cooking of multiple items simultaneously. Vegetables, cookies, roasted meats and cookies can be effectively prepared in a convection microwave oven. Grill ovens also contributed to a significant portion of the market revenue. Increased emphasis on healthy eating habits has propelled the demand for grill ovens as they are used for roasting food in a very short duration.
Household microwave ovens contributed to over 60% of the overall revenue in 2014. Demand for household oven primarily originates from the working segment owing to quicker food preparation times. A surge in the establishment of hotels and fast food centers has favorably impacted microwaves' adoption in commercial applications as they enable the serving of a large volume of food in shorter durations.
Built-in microwaves have gained prominence over the last few years owing to their compact nature which facilitates their accommodation in modular kitchens. They also enhance the aesthetics of the kitchen as they can fit in a wall or a cabinet, thereby offering some counter free space in the kitchen. Counter-top microwaves are available in various sizes and can be installed manually without the need of an expert, owing to which they occupied a majority of the revenue share.
North America accounted for over 30% of the market in 2014 which can be attributed to high penetration of microwaves across households and commercial establishments. The industry has reached its maturity stage in the U.S. and also several European countries, resulting in a potentially sluggish growth rate over the forecast period. Most of the microwave sales in North America and Western Europe are expected to emerge from customers opting for premium microwaves. The microwave oven industry has substantial growth prospects in the Asia Pacific region as majority of sales are expected to originate from customers purchasing microwaves for the first time.
Key industry participants include Samsung, LG Electronics, Panasonic, Electrolux, and Galanz. Companies focus on product differentiation and geographical diversification as key strategies to expand their presence and achieve higher market penetration. Manufacturers also emphasize on the development of energy efficient microwaves to lower electricity consumption.

Table of Content

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumption
1.3. List of Data Sources
Chapter 2. Executive Summary
2.1. Microwave oven - Industry snapshot and Critical Success Factors (CSFs)
Chapter 3. Microwave oven Industry Outlook
3.1. Market Segmentation
3.2. Market Size and Growth Prospects
3.3. Microwave Oven Value Chain Analysis
3.4. Microwave Oven Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.5. Key Opportunities Prioritized
3.6. Company market share analysis, 2014
3.7. Industry Analysis - Porter's
3.8. Microwave oven market PESTEL Analysis, 2014
Chapter 4. Microwave Oven Product Outlook
4.1. Convection
4.1.1. Global market estimates and forecasts, 2012 - 2022
4.2. Grill
4.2.1. Global market estimates and forecasts, 2012 - 2022
4.3. Solo
4.3.1. Global market estimates and forecasts, 2012 - 2022
Chapter 5. Microwave Oven Application Segment Outlook
5.1. Commercial
5.1.1. Global market estimates and forecasts, 2012 - 2022
5.2. Household
5.2.1. Global market estimates and forecasts, 2012 - 2022
Chapter 6. Microwave Oven Structure Outlook
6.1. Built-in
6.1.1. Global market estimates and forecasts, 2012 - 2022
6.2. Cook top
6.2.1. Global market estimates and forecasts, 2012 - 2022
Chapter 7. Microwave Oven Regional Outlook
7.1. North America
7.1.1. Microwave oven market by product, 2012 - 2022
7.1.2. Microwave oven market by application, 2012 - 2022
7.1.3. Microwave oven market by structure, 2012 - 2022
7.2. Europe
7.2.1. Microwave oven market by product, 2012 - 2022
7.2.2. Microwave oven market by application, 2012 - 2022
7.2.3. Microwave oven market by structure, 2012 - 2022
7.3. Asia Pacific
7.3.1. Microwave oven market by product, 2012 - 2022
7.3.2. Microwave oven market by application, 2012 - 2022
7.3.3. Microwave oven market by structure, 2012 - 2022
7.4. RoW
7.4.1. Microwave oven market by product, 2012 - 2022
7.4.2. Microwave oven market by application, 2012 - 2022
7.4.3. Microwave oven market by structure, 2012 - 2022
Chapter 8. Competitive Landscape
8.1. AB Electrolux
8.1.1. Company Overview
8.1.2. Financial Performance
8.1.3. Product Benchmarking
8.1.4. Strategic Initiatives
8.2. Alto-Shaam
8.2.1. Company Overview
8.2.2. Financial Performance
8.2.3. Product Benchmarking
8.2.4. Strategic Initiatives
8.3. Dongbu Daewoo Electronics
8.3.1. Company Overview
8.3.2. Financial Performance
8.3.3. Product Benchmarking
8.3.4. Strategic Initiatives
8.4. Haier Group Corporation
8.4.1. Company Overview
8.4.2. Financial Performance
8.4.3. Product Benchmarking
8.4.4. Strategic Initiatives
8.5. LG Electronics
8.5.1. Company Overview
8.5.2. Financial Performance
8.5.3. Product Benchmarking
8.5.4. Strategic Initiatives
8.6. Panasonic Corporation
8.6.1. Company Overview
8.6.2. Financial Performance
8.6.3. Product Benchmarking
8.6.4. Strategic Initiatives
8.7. Robert Bosch GmbH
8.7.1. Company Overview
8.7.2. Financial Performance
8.7.3. Product Benchmarking
8.7.4. Strategic Initiatives
8.8. Sharp Corporation
8.8.1. Company Overview
8.8.2. Financial Performance
8.8.3. Product Benchmarking
8.8.4. Strategic Initiatives
8.9. SMEG
8.9.1. Company Overview
8.9.2. Financial Performance
8.9.3. Product Benchmarking
8.9.4. Strategic Initiatives
8.10. Whirlpool Corporation
8.10.1. Company Overview
8.10.2. Financial Performance
8.10.3. Product Benchmarking
8.10.4. Strategic Initiatives

List of Tables

1. Microwave oven - Industry snapshot & key buying criteria, 2012-2022
2. Microwave oven market,, 2012 - 2022 (USD Million)
3. Microwave oven market by region,, 2012 - 2022 (USD Million)
4. Microwave oven market by product, 2012 - 2022 (USD Million)
5. Microwave oven market by application,, 2012 - 2022 (USD Million)
6. Microwave oven market by structure, 2012 - 2022 (USD Million)
7. Global convection microwave market, 2012 - 2022 (USD Billion)
8. Global convection market by region, 2012 - 2022 (USD Million)
9. Global grill microwave market, 2012 - 2022 (USD Billion)
10. Global grill microwave market by region, 2012 - 2022 (USD Million)
11. Global solo microwave market, 2012 - 2022 (USD Million)
12. Global solo market by region, 2012 - 2022 (USD Million)
13. Global microwave oven demand in commercial, 2012 - 2022 (USD Billion)
14. Global microwave oven demand in commercial by region, 2012 - 2022 (USD Million)
15. Global microwave oven demand in household, 2012 - 2022 (USD Billion)
16. Global microwave oven demand in household by region, 2012 - 2022 (USD Million)
17. Global built-in market, 2012 - 2022 (USD Billion)
18. Global built-in market by region, 2012 - 2022 (USD Million)
19. Global counter top market, 2012 - 2022 (USD Billion)
20. Global counter top market by region, 2012 - 2022 (USD Million)
21. North America market by product, 2012 - 2022 (USD Million)
22. North America market by application, 2012 - 2022 (USD Million)
23. North America market by structure, 2012 - 2022 (USD Million)
24. Europe market by product, 2012 - 2022 (USD Million)
25. Europe market by application, 2012 - 2022 (USD Million)
26. Europe market by structure, 2012 - 2022 (USD Million)
27. Asia Pacific market by product, 2012 - 2022 (USD Million)
28. Asia Pacific market by application, 2012 - 2022 (USD Million)
29. Asia Pacific market by structure, 2012 - 2022 (USD Million)
30. RoW market by product, 2012 - 2022 (USD Million)
31. RoW market by application, 2012 - 2022 (USD Million)
32. RoW market by structure, 2012 - 2022 (USD Million)