Stratview Research has launched a new report, titled Microwave Oven Market is Segmented by Product Type (Grill, Solo, Convection), by Distribution Channel Type (Multi-brand Stores, Exclusive Stores, Online, and Others), by Application Type (Residential, Commercial), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)

Covid-19 Impact Analysis:

Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.

According to the report, Microwave Oven market is projected to witness healthy CAGR of 4.9% over the next five years. The key demand generators of the market are growing global population coupled with their rising disposable income, rising standard of living, and rising demand for frozen and ready-to-eat food products.

Market Segments’ Analysis

Based on the product type, the market is segmented as grill, solo, and convection. The convection segment is expected to remain dominant in the market during the forecast period, owing to its wider usage in commercial applications, such as restaurants and hotels and also in residential applications.

Based on the application type, the microwave oven market is segmented as commercial and residential. The residential segment is likely to remain the larger application of the market during the forecast period, propelled by changing lifestyle of individuals coupled with rising demand for energy-efficient and compact cooking applications.

North America is likely to maintain its supremacy in the market during the forecast period, mainly driven by high demand for advanced technologies in the USA and Canada. Robust supply chain across the region with presence of a large number of microwave oven manufacturers, component suppliers as well as large consumer base are the key growth propellers of the market.

Key Players

The following are the key players in the Microwave Oven Market.

  • Illinois Tool Works Inc.
  • Sharp Corporation
  • Guangdong Galanz Enterprises Co., Ltd.
  • Whirlpool Corporation
  • Electrolux AB
  • LG Electronics Inc.
  • Alto-Shaam, Inc.
  • Panasonic Corporation
  • Samsung Group
  • Haier Electronics.

Frequently Asked Questions –

This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:

  • What is the current and future market size of Microwave Oven Market?
  • How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
  • What will be the short and long-term effects of the pandemic?
  • How are other market factors affecting the market dynamics?
  • Which segments offer high-growth opportunities in the long run?
  • How fierce is the Microwave Oven Market competition?
  • What are the key emerging trends and unmet needs in the present market?
  • What are the strategic growth opportunities and key success factors?

Read the full report: https://www.stratviewresearch.com/1181/microwave-oven-market.html

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