Global Residential Microwave Oven Market 2024-2028
The residential microwave oven market is forecasted to grow by USD 5706.9 mn during 2023-2028, accelerating at a CAGR of 8.8% during the forecast period. The report on the residential microwave oven market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing disposable income of consumers, enhanced product safety features in microwaves, and growing demand for time-efficient cooking methods.
Technavio's residential microwave oven market is segmented as below:
By Type
- Countertop microwave oven
- Built-in microwave oven
By Product
- Microwave oven without smart connectivity
- Microwave oven with smart connectivity
By Geographical Landscape
- APAC
- North America
- Europe
- Middle East and Africa
- South America
This study identifies the increasing focus of vendors on new product innovations as one of the prime reasons driving the residential microwave oven market growth during the next few years. Also, portability, compatibility, and fit for every lifestyle and growing demand for smart appliances will lead to sizable demand in the market.
The report on the residential microwave oven market covers the following areas:
- Residential microwave oven market sizing
- Residential microwave oven market forecast
- Residential microwave oven market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading residential microwave oven market vendors that include Alto Shaam Inc., Brandt Group, Breville Group Ltd., Daewoo Electricals, Electrolux group, Felix Storch Inc., Haier Smart Home Co. Ltd., LG Electronics Inc., Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Shandong Qingneng Power Co. Ltd., Sharp Corp., Smeg S.p.a., Techtronic Industries Co. Ltd., The Middleby Corp., and Whirlpool Corp.. Also, the residential microwave oven market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.