Egypt Microwave Ovens Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Egypt Microwave Ovens Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Egypt's microwave oven market has been experiencing significant growth over the past years, and a similar trend is forecasted to continue in the coming years. The rising population along with the increased standard of living are the primary reasons contributing to the rising demand for microwave ovens in Egypt. The GDP per capita has increased 34.9% in the last ten years in Egypt, with higher disposable income for the people living in Tier I and Tier II cities of the country have enabled the consumers to invest in their household appliance requirements.

On account of Covid-19, the unemployment rate in Egypt increased to 9.6% during Q2, 2020, and accordingly, average annual headline urban inflation recorded 5% during the year 2020, compared to 9.2% in 2019, marking the lowest rate recorded since 2005. The increasing unemployment rate affected the purchasing power of the common man resulting in low sales of microwaves in the country.

The rising urban population that accounts for about 42.7% of the total population in 2020 would also foster the growth of the microwave market during the forecast period. The growing аwаrеnеѕѕ regarding the usage of microwaves among individuals from the middle and lоwеr-middle іnсоmе segment, particularly іn urbаn аrеаѕ, соuрlеd with improving living standards аrе ѕоmе оf the fасtоrѕ ехресtеd tо сrеаtе potential rеvеnuе opportunities fоr рlауеrs ореrаtіng іn microwave market.

The urban population of the country is a major buyer of microwave ovens as compared to the rural population on account of the busy lifestyle and higher dependence on quick cooking methods for routine usage in their daily lives. The rising technological innovation by the market players to suit the requirements of all consumer segments would augment the demand for microwaves in the country over the coming years.

In the last five years, Egypt has seen around a 10% rise in urban population owing to preferable job opportunities, a better quality of schools, improved living standards, and enhanced quality of life. The increasing number of people migrating toward urban areas has resulted in the rise in demand for advanced facilities, eventually leading to the rise in the requirement for household appliances such as microwaves.

The countertop segment is dominating the revenue share in the microwave oven market over the forecast period in Egypt on account of less maintenance cost as compared to the built-in microwave ovens along with its easy and affordable installation charges. Also, countertop microwaves are comparatively cheaper when compared to built-in microwaves, which is why they are majorly preferred in the residential sector.

The competitive landscape analysis provides a detailed strategic analysis of the company’s business and performance, such as financial information, revenue breakup by segment and by geography, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, and recent news. The report covers major international players operating in the Egypt microwave ovens market. In terms of market share, some of the major players currently dominate the market. Some major players present in the market include LG, Toshiba, Samsung, and many more.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support