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Microwave Oven Market is Expected to Register a Considerable Growth by 2026

Stratview Research delivers key insights on the global Microwave Oven Market. According to Stratview Research, the market is segmented by Product Type (Grill, Solo, Convection), by Distribution Channel Type (Multi-brand Stores, Exclusive Stores, Online, and Others), by Application Type (Residential, Commercial), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)

The report also covers the Covid impact on the market. Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and an uptrend is witnessed from 2021.

Market Insights

The report suggests that the overall 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.

Market Segments' Analysis

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.

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.

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.

Key Players

The following are some of 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

  • Haier Electronics.

FREQUENTLY ASKED QUESTIONS

The report answers several questions related to the market. The user can get to know the answers to the following questions…

  • What is the global demand for Microwave Oven Market in terms of revenue?

  • Which are the prominent players in the market?

  • At what CAGR is the market projected to grow within the forecast period?

  • What are the driving factors fuelling the growth of the market?

  • Which region accounted for the largest share in the market?

  • How did the Covid19 impacted the market?

  • How long will it take to recover from the Covid impact?

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About Us –

Stratview Research is a leading global market research firm providing expert research solutions, trusted by clients worldwide. To keep our clients ahead of the curve, we provide data backed by extensive market research and in-depth industry knowledge. The broad spectrum of integrated insights is referred to, and cited by press releases, interview with key players, white papers, journals, etc. Stratview research also offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please connect with our team.

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  • Matt Easterlin
  • May 13 2022
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