A microwave oven functions on thermal energy; it heats the polar molecules in food through a process known as dialectic heating. The radiations emitted from the product are of a shorter wavelength but possess a large amount of energy, which results in faster cooking of the food. Additionally, depending upon the power output, these ovens can be used for roasting, baking, and grilling. Microwave ovens are manufactured with various features such as touch display panels, a heating chamber, vents, and a glass turntable.
One of the key advantages associated with using a microwave oven is safety. Microwave cooking is relatively safe as compared to conventional cooking as it has several safety systems in place.
Geographically, the microwave oven market has been segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
Europe is expected to witness strong growth in the global microwave oven market during the forecast period (2019–2026), owing to the increasing expenditure capacity in the U.K, France, and Germany. According to a report published by OECD (The Organisation for Economic Co-operation and Development) in 2016, in the United Kingdom (U.K), People. Additionally, in France, 21% of gross adjusted disposable income was spent on households.
North America is estimated to dominate the global microwave oven market during the forecast period (2019–2026), owing to the high demand for latest technology-enabled products in the region, especially the U.S. and Canada.
Asia Pacific (APAC) is also experiencing significant growth in the global microwave oven market, owing to the growing population and awareness regarding the benefits of microwave ovens. Leading global companies are taking cognizance of the region’s potential and strengthening their presence in Asia Pacific. For instance, in November 2016, Haier, a consumer electronics and home appliances company, launched 2 new smart cooking microwave ovens with the model numbers HIL2810EGCF and HIL2001 CSPH in India.
The global microwave oven market has been segmented by type, application, structure, and region.
On the basis of type, the global microwave oven market has been segmented into convection, grill, and solo. The convection microwave oven segment is expected to account for a major market share during the forecast period (2019–2026), owing to the high functionality and safety offered by these microwave ovens. A convection oven is a combination of a regular oven with a microwave and uses both hot air and electromagnetic waves for cooking. Convection ovens are widely used in restaurants and hotels where food is prepared in large quantities and requires reheating and defrosting.
By application, the global microwave oven market has been segmented into household, commercial, and others. The household segment is expected to dominate the market, owing to the easy user interface and the convenience these microwave ovens offer. Technologies such as Easy Clean used by LG and Crisp wave by KitchenAid have played a crucial role in increasing the demand for convection microwave ovens in household applications.
Based on structure, the global microwave oven market has been segmented into built-in and counter top. The built-in structure segment is expected to register healthy growth as these microwave ovens can be installed in customized spaces and increase the overall attractive appeal of the commercial or residential space.
Microwave Oven Market Segmentation