Wilmington, Delaware, United States, June 08, 2022 (GLOBE NEWSWIRE) -- According to the microwave oven market statistics by Transparency Market Research (TMR), the global market is estimated to register growth at a CAGR of 6.9% during the forecast period, from 2022 to 2031. The study by TMR focuses on providing in-depth insights on future scope of microwave oven market and emerging microwave oven trends.
The rate of urbanization across many developed and developing nations is increasing at prominent pace. This factor is estimated to drive the business opportunities in the global microwave oven market during the forecast period. Hence, the microwave oven market share is expected to reach at a valuation of US$ 2.72 Bn by 2031.
Players operating in the microwave oven market are focusing on the development of products with advanced features. Hence, they are allotting considerable investments for R&D projects. Furthermore, several market enterprises are concentrating on the production of environmental-friendly as well as user-friendly microwave ovens. Such efforts are fueling the expansion of the microwave oven market, notes a TMR assessment.
Major microwave oven manufacturers are utilizing organic and inorganic strategies in order to stay ahead of the highly intense competition of the market. For instance, several players are involving in the new product launches, mergers, and acquisitions in order to expand their businesses, states TMR’s market survey of consumer microwave equipment.
Get PDF Brochure for More Insights - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=722
Microwave Oven Market: Key Findings
- Due to rising understanding among people on adverse effects of consuming oily food, there has been surge in inclination among this consumer pool toward using multi-functional microwave ovens, which can help in oil-free cooking. This factor, in turn, is creating profitable prospects for microwave oven manufacturers around the world. Considering such consumer trends, varied renowned foodservice outlets globally are replacing their traditional ovens & pressure cookers with multifunctional microwave ovens. This factor is propelling the global microwave oven market.
- Solo microwave ovens, grill microwave ovens, and convection microwave ovens are some of the product types available in the global market. Among all, the demand for convection microwave ovens is being increasing globally owing to their ability to cook food faster and better in comparison with other product types. This aside, the user-friendly nature of convection microwaves is driving their demand globally. These advantages of the product are expected to fuel the growth in the microwave oven market during the forecast period.
Microwave Oven Market: Growth Boosters
- Improving disposable income of people globally is resulting into revenue-generation opportunities in the microwave oven market
- Rise in the number of working population around the world is driving the demand for products from the market
Request Sample Report at - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=722
Microwave Oven Market: Regional Analysis
- North America is dominant region in the microwave oven market and this region is expected to provide remarkable sales prospects for players owing to rapid expansion of the foodservice and food processing industries in the region. The North America market is projected to observe exceptional growth in demand for built-in microwave ovens and full-size combi ovens from the regional foodservice outlets and large restaurant chains.
- The microwave oven market in Asia Pacific is estimated to expand at promising pace in the forthcoming years owing to improving spending power of people from several emerging economies in the region
Get COVID-19 Impact Analysis at - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=722
Microwave Oven Market: Key Players
Some of the key players profiled in the report are:
- Illinois Tool Works, INC.
- Guangdong Galanz Enterprises Co. Ltd.
- Sharp Corporation
- Hoover Limited
- Alto-Shaam, INC.
- Electrolux AB
- LG Electronics
Microwave Oven Market Segmentation
Type
- Grill Microwave Ovens
- Convection Microwave Ovens
- Solo Microwave Ovens
Make an Enquiry before Buying - https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=722
By Capacity
- Below 15 Liters
- 15-31 Liters
- Above 31 Liters
By Price
- Below US$ 100
- US$ 101- US$ 200
- Above US$ 201
By Power
- Up to 999W
- 1000-1599W
- Above 1600w
Structure
- Counter Top
- Built-in
End-use
- Commercial
- Household
Distribution Channel
- Online
- E-Commerce Websites
- Company-Owned Websites
- Offline
- Supermarket / Hypermarket
- Departmental Stores
- Others (Independent Retailers, etc.)
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Browse Latest Consumer Goods & Services Industry Research Reports by TMR
Smart Kitchen Appliances Market - The global smart kitchen appliances market size was valued US$ 2,725.5 Mn and expected to grow with a CAGR of 25.5%. In the end of 2027, the market is forecasted to reach US$ 8,501.1 Mn in 2027
Smart Oven Market - Smart Oven Market is expected to a reach US$ 666.8 Mn by the end of 2031, estimated to grow at a CAGR of 15.7% from 2022 to 2031.
Conveyor Oven Market - Conveyor Oven Market to rise at a CAGR of 3.7% during the forecast period between 2019 and 2027, for the market to become worth US$135.4 Mn by the end of 2027.
Porcelain Tableware Market - Porcelain Tableware Market is expected to reach value of US$ 39.5 Bn by the end of 2031, estimated to grow at a CAGR of 6.3% from 2022 to 2031.
Hobs Market - Hobs Market is expected to cross the value of US$ 33.4 Bn by the end of 2031, expand at a CAGR of 5.8% from 2021 to 2031.
About Transparency Market Research
Transparency Market Research is a global market research reports company providing business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
For More Research Insights on Leading Industries, Visit our YouTube channel - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact Us:
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
