What is the global market size of Microwave Oven Market?

Global Microwave Oven Market size was valued at USD 15.77 billion in 2021 and is poised to grow from USD 16.4 billion in 2022 to USD 22.4 billion by 2030, growing at a CAGR of 4% in the forecast period (2023-2030).

What is the key driver of Global Microwave Oven Market?

Well-equipped combo-microwaves are finding their place in the global microwave oven market.

Top Microwave Oven Companies

Skyquest Technology's expert advisors have carried out comprehensive research and identified these companies as industry leaders in the Microwave Oven Market. This Analysis is based on comprehensive primary and secondary research on the corporate strategies, financial and operational performance, product portfolio, market share and brand analysis of all the leading Microwave Oven industry players.

Microwave Oven Market Competitive Landscape

Microwave Oven Market Top Players Company Profiles

LG Electronics
AB Electrolux
Samsung Electronics
Whirlpool Corporation
Panasonic Corporation
Haier Group Corporation
Sharp Corporation
Bosch Home Appliances
Midea Group Co., Ltd.
General Electric
Toshiba Corporation
Hitachi, Ltd.
Groupe SEB
Guangdong Galanz Enterprises Co., Ltd.
Daewoo Electronics
Godrej Appliances
Vestel Group
Breville Group Limited
Mueller Austria
Black & Decker Corporation

Microwave Oven Market Recent Development

In June 2022, LG Electronics announced its plan to present the essence of its ultra-premium built-in kitchen appliance brand at Milan Design Week 2022. This is a globally recognised design event.
In June 2022, Samsung Electronics announced the global launching of “SmartThings Home Life”. It intends to offer consumers with holistic smart home experience by applying connectivity between smart devices and enriching day-to-day routine activities at home thereby streamlining it smartly. The initiative is set with a vision to expand the services worldwide and empower consumer experience in their daily tasks.
In April 2022, LG announced its vision in partnership with Wolves Summit to leverage innovative technologies and solutions for a better life at home. The partnership intends to work closely with the winners and create intellectually designed, convenient solutions for the future generation home.

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FAQs

Microwave Oven Market size was valued at USD 19.12 Billion in 2024 and is poised to grow from USD 19.98 Billion in 2025 to USD 28.41 Billion by 2033, growing at a CAGR of 4.5% during the forecast period (2026–2033).

Key players in the global Microwave Oven Market are deploying strategic methods accounting for a large portion of market revenue. Major players are implementing numerous tactics, including mergers and acquisitions, partnerships and strategic agreements and contracts along with various research and development activities to cater to new launches and services. Various industry players are leveraging ways to expand their global presence following numerous developmental strategies. 'Whirlpool Corporation (US) ', 'Samsung Electronics (South Korea) ', 'LG Electronics (South Korea) ', 'Panasonic Corporation (Japan) ', 'Sharp Corporation (Japan) ', 'Haier Group (China) ', 'Midea Group (China) ', 'Galanz (China) ', 'BSH Hausgeräte GmbH (Germany) ', 'Electrolux (Sweden) ', 'GE Appliances (US) ', 'Breville Group (Australia) ', 'SMEG (Italy) ', 'De'Longhi (Italy) ', 'Robert Bosch GmbH (Germany) ', 'Hisense (China) ', 'Candy Hoover Group (China) ', 'LG Hausys (South Korea) ', 'Alto-Shaam (US) ', 'ACP, Inc. (US)'

Combination ovens, which include a grilling area in addition to a convection oven, are gaining acceptance not only for household use but also in the commercial sector. The dangers of eating fried and oil-heavy meals have been brought to light by informational accessibility and increased health awareness. Many individuals look forward to eating foods that are baked or drizzled with healthy oil since they are more nutritious. These multifunctional microwaves make using them simple and enjoyable, and it is anticipated that demand for them will increase in the future years.

Various companies are harnessing ways to energy-coherent microwave ovens pertaining to the growing market demand for less pawer dissipating microwave ovens. Companies are employing dedicated expenditures in R&D to develop energy-coherent microwave ovens.

North America dominated the global microwave oven market in 2021 and it is anticipated to maintain its dominance throughout the forecast period. Various food processing and food preparation chains, and restaurants are attributed to the high market share. In the year 2019, 17.5 million microwave ovens were shipped in the US and is expected to rise year on year. The Asia Pacific is expected for a remarkable growth of around 5.0% over the forecast period. The rising availability of income and expenditure for improvised living standards and inclination toward technology-based facilities are enhancing the market growth prospects, especially in countries such as India, the Philippines, Korea, and China. Along with this rising health concerns among people are inclining them to avoid deep-fried food items are leading to market growth, it is estimated that by 2025 around 270 million units of microwave ovens would be sold worldwide.

Top Microwave Oven Companies

Microwave Oven Market Competitive Landscape

FAQs

What is the global market size of Microwave Oven Market?

Who are the key vendors in the Microwave Oven Market?

What is the key driver of Microwave Oven Market?

What is the key market trend for Microwave Oven Market?

Which region accounted for the largest share in Microwave Oven Market?

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