The global commercial microwave ovens market revenue was around US$ 609.13 million in 2022 and is estimated to reach US$ 948.2 million by 2031, growing at a compound annual growth rate (CAGR) of 5.04% during the forecast period from 2023 to 2031.
The term "microwave oven" is an electrical appliance that swiftly cooks and heats food and beverage goods using electromagnetic radiation. Microwaves or electromagnetic waves often emit heat in the form of microwave energy. As a result, the food is heated by a process called dielectric heating, which forces the polar molecules there to revolve and create heat energy.
Market Driving Factors
The surge in disposable income of people drives the market. High disposable income raises the spending capacity of consumers to pay for technology-driven premium kitchen appliances, including microwave ovens. Customers are more inclined towards opting for multipurpose and hassle-free appliances, making their kitchen duties much easier, which is fueling the adoption of microwave ovens.
Dual magnetron is a primary trend impacting the commercial microwave oven market growth. Commercial microwave ovens contain magnetron tubes. Magnetron is an electron that is utilized to create the required microwave energy to heat food products. Manufacturers, such as Samsung and Summit Appliance, provide commercial microwave ovens that feature dual magnetron to ensure faster operations compared with commercial microwave ovens that perform on a single magnetron.
Radiation and insulation problems in commercial microwave ovens limit the market growth.
Regional Analysis
North America is estimated to dominate the market in terms of the CAGR. This is due to the increase in the number of restaurants, house constructions, and renovations all across the region. Furthermore, technological advancements, including smart connectivity and lower energy consumption, have surged the presence of microwave ovens in every bakery, house, restaurant, and office. Efficient ways of cooking and baking with the help of microwave ovens in commercial and residential workplaces raised its demand. Therefore, these elements drive the market in the region.
Asia-Pacific is anticipated to grow at a high rate over the forecast period. Due to rapid industrialization and commercialization. The overall demand for and popularity of microwave ovens may grow in developing countries, such as India and China, owing to the increasing inclination of customers toward high prices on first-rate kitchen electrical appliances. In the future, Japan is estimated to achieve a significant share of the market. Furthermore, due to quick industrialization, a surge in several industries, and developments in the electronic and electric industries boosted the market growth in the region.
Prominent Companies
Segmentation Outline
The global commercial microwave ovens market segmentation focuses on Product Duty Type, Product Capacity Type, Application, Control Feature, Distribution Channel, and Region.
By Product Duty Type
By Product Capacity Type
By Application
By Control Feature
By Distribution Channel
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL COMMERCIAL MICROWAVE OVENS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: COMMERCIAL MICROWAVE OVENS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL COMMERCIAL MICROWAVE OVENS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL COMMERCIAL MICROWAVE OVENS MARKET, BY PRODUCT DUTY TYPE
5.1 OVERVIEW
5.2 COMMERCIAL HEAVY-DUTY MICROWAVE OVENS
5.3 COMMERCIAL MEDIUM-DUTY MICROWAVE OVENS
5.4 COMMERCIAL LIGHT-DUTY MICROWAVE OVENS
6 GLOBAL COMMERCIAL MICROWAVE OVENS MARKET, BY PRODUCT CAPACITY TYPE
6.1 OVERVIEW
6.2 UNDER 1 CU FT TYPE
6.3 1 TO 1.9 CU FT TYPE
6.4 OVER 2 CU FT TYPE
7 GLOBAL COMMERCIAL MICROWAVE OVENS MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 FOODSERVICE INDUSTRY
7.3 FOOD INDUSTRY
7.4 OTHERS
8 GLOBAL COMMERCIAL MICROWAVE OVENS MARKET, BY CONTROL FEATURE
8.1 OVERVIEW
8.2 BUTTON CONTROLS
8.3 DIAL CONTROLS
9 GLOBAL COMMERCIAL MICROWAVE OVENS MARKET, BY DISTRIBUTION CHANNEL
9.1 OVERVIEW
9.2 MULTI-BRANDED STORES
9.3 SPECIALTY STORES
9.4 ONLINE STORES
9.5 OTHERS
10 GLOBAL COMMERCIAL MICROWAVE OVENS MARKET, BY GEOGRAPHY
10.1 OVERVIEW
10.2 NORTH AMERICA
10.2.1 NORTH AMERICA MARKET SNAPSHOT
10.2.2 U.S.
10.2.3 CANADA
10.2.4 MEXICO
10.3 EUROPE
10.3.1 EUROPE MARKET SNAPSHOT
10.3.2 WESTERN EUROPE
10.3.2.1 THE UK
10.3.2.2 GERMANY
10.3.2.3 FRANCE
10.3.2.4 ITALY
10.3.2.5 SPAIN
10.3.2.6 REST OF WESTERN EUROPE
10.3.3 EASTERN EUROPE
10.3.3.1 POLAND
10.3.3.2 RUSSIA
10.3.3.3 REST OF EASTERN EUROPE
10.4 ASIA PACIFIC
10.4.1 ASIA PACIFIC MARKET SNAPSHOT
10.4.2 CHINA
10.4.3 JAPAN
10.4.4 INDIA
10.4.5 AUSTRALIA & NEW ZEALAND
10.4.6 ASEAN
10.4.7 REST OF ASIA PACIFIC
10.5 MIDDLE EAST & AFRICA
10.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
10.5.2 UAE
10.5.3 SAUDI ARABIA
10.5.4 SOUTH AFRICA
10.5.5 REST OF MEA
10.6 SOUTH AMERICA
10.6.1 SOUTH AMERICA MARKET SNAPSHOT
10.6.2 BRAZIL
10.6.3 ARGENTINA
10.6.4 REST OF SOUTH AMERICA
11 GLOBAL COMMERCIAL MICROWAVE OVENS MARKET COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 COMPANY MARKET RANKING
11.3 KEY DEVELOPMENT STRATEGIES
11.4 COMPETITIVE DASHBOARD
11.5 PRODUCT MAPPING
11.6 TOP PLAYER POSITIONING, 2022
11.7 COMPETITIVE HEATMAP
11.8 TOP WINNING STRATEGIES
12 COMPANY PROFILES
12.1 SAMSUNG
12.1.1 OVERVIEW
12.1.2 FINANCIAL PERFORMANCE
12.1.3 PRODUCT OUTLOOK
12.1.4 KEY DEVELOPMENTS
12.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.2 LG
12.2.1 OVERVIEW
12.2.2 FINANCIAL PERFORMANCE
12.2.3 PRODUCT OUTLOOK
12.2.4 KEY DEVELOPMENTS
12.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.3 GALANZ
12.3.1 OVERVIEW
12.3.2 FINANCIAL PERFORMANCE
12.3.3 PRODUCT OUTLOOK
12.3.4 KEY DEVELOPMENTS
12.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.4 PANASONIC
12.4.1 OVERVIEW
12.4.2 FINANCIAL PERFORMANCE
12.4.3 PRODUCT OUTLOOK
12.4.4 KEY DEVELOPMENTS
12.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.5 MIDEA
12.5.1 OVERVIEW
12.5.2 FINANCIAL PERFORMANCE
12.5.3 PRODUCT OUTLOOK
12.5.4 KEY DEVELOPMENTS
12.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.6 TOSHIBA
12.6.1 OVERVIEW
12.6.2 FINANCIAL PERFORMANCE
12.6.3 PRODUCT OUTLOOK
12.6.4 KEY DEVELOPMENTS
12.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.7 ELECTROLUX
12.7.1 OVERVIEW
12.7.2 FINANCIAL PERFORMANCE
12.7.3 PRODUCT OUTLOOK
12.7.4 KEY DEVELOPMENTS
12.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.8. SIEMENS
12.8.1 OVERVIEW
12.8.2 FINANCIAL PERFORMANCE
12.8.3 PRODUCT OUTLOOK
12.8.4 KEY DEVELOPMENTS
12.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.9 BREVILLE
12.9.1 OVERVIEW
12.9.2 FINANCIAL PERFORMANCE
12.9.3 PRODUCT OUTLOOK
12.9.4 KEY DEVELOPMENTS
12.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.10 GE (HAIER)
12.10.1 OVERVIEW
12.10.2 FINANCIAL PERFORMANCE
12.10.3 PRODUCT OUTLOOK
12.10.4 KEY DEVELOPMENTS
12.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.11 WHIRLPOOL
12.11.1 OVERVIEW
12.11.2 FINANCIAL PERFORMANCE
12.11.3 PRODUCT OUTLOOK
12.11.4 KEY DEVELOPMENTS
12.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.12 SHARP
12.12.1 OVERVIEW
12.12.2 FINANCIAL PERFORMANCE
12.12.3 PRODUCT OUTLOOK
12.12.4 KEY DEVELOPMENTS
12.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
12.13 BOSCH
12.13.1 OVERVIEW
12.13.2 FINANCIAL PERFORMANCE
12.13.3 PRODUCT OUTLOOK
12.13.4 KEY DEVELOPMENTS
12.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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