The “Global Microwave Oven Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026” research study available on Decisiondatabases.com provides a detailed evaluation of the growth trends, market drivers, opportunities and restraints of the global microwave oven market. The report foresees the global microwave oven market to reach over USD 17.38 BN by 2026 along with a CAGR of 5% from 2019-2026. The market was valued at USD 12.35 BN in 2018.
A microwave oven is an electrical appliance used for cooking and heating food and pre-cooked foodstuffs in a very short span of time efficiently. Microwave ovens use dielectric technology to produce thermal effects which heats the food inside it. The food can be cooked and heated at the desired temperatures in a microwave oven. Microwave is a term used to refer to electromagnetic microwaves on which the microwave oven technology works. A huge variety of food and foodstuffs can be cooked and heated in a microwave oven including frozen foodstuffs, daily meals, fast food and bakery products. A microwave oven is an essential element in baking bakery products such as cakes, pastries, hot chocolate eateries and other such bakery foods.
The efficiency of the microwave oven has led to its increased use in the household level for cooking and heating which in turn has become a significant factor for fuelling the growth of the microwave oven market. Additionally, the transition in food consumption trends of the modern consumers and the use of innovative and energy-saving technology in microwave oven production has further acted as a driver towards the growth of the microwave oven market globally. However, the high cost of production is expected to hamper the market growth partially.
By product, convection, grill and solo are the segments of the global microwave oven market where convection has been found out to be the leading segment as per the report.
By structure, built-in and cooktop are the classifications provided for the global microwave oven market in the study where cooktop has emerged as the leading segment.
By application, commercial and household are the segments of the global microwave oven market where household has been learned to be the leading segment.
Asia Pacific, North America, Europe, Latin America and Middle East & Africa are the geographical segments of the microwave oven market globally. As per the report, North America has surfaced as the leading segment.
The key players of the global microwave oven market profiled in the study are Vulcan-Hart, Bakers Pride Oven Co. Inc., Alto-Shaam Inc., Sharp Corporation, GE Applications, Frigidaire, Kenwood Limited, Electrolux AB, Maytag Corporation, Hoover Limited, Bonnet International, Samsung Electronics Co. Ltd., Panasonic Corporation, Manitowoc Foodservice and LG Electronics Inc. among others.
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