Market Overview:
The global compact microwaves market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for compact microwaves from residential and commercial applications. Additionally, the growing trend of smart homes is also contributing to the growth of this market. On the basis of type, grill microwave ovens are expected to account for a major share of the global compact microwaves market during the forecast period. This can be attributed to their growing popularity among consumers owing to their ability to cook food quickly and evenly.
Product Definition:
A compact microwave oven is a small, countertop-sized appliance that heats food by passing microwaves through it. Compact microwaves are important because they can save space in a kitchen and are easy to use.
Grill Microwave Oven:
The grill microwave oven is a small kitchen appliance that can be used to prepare food in a microwave oven. It has the ability to cook food by using convection or radiant heat. The device consists of two grills, one above the other, which are separated by a hinge-free door and can be closed either vertically or horizontally depending upon the type of meal being cooked.
Convection Microwave Oven:
Convection microwave oven is a combination of conventional microwave oven and convection mode. It can be used to cook food as well as heat, dry and moist air in the same machine. Convection microwaves are usually used for cooking food in less than 5 minutes whereas traditional methods take around 20-40 minutes.
The compact microwaves market is growing at a significant pace owing to its various advantages such as it's easy to use, flexible.
Application Insights:
The residential application segment accounted for the largest market share in 2017 and is projected to expand at a CAGR of XX% over the forecast period. Compact microwaves are widely used in urban areas, where space is an issue and cooking needs to be done efficiently. The product features like small footprint, energy-efficient design and easy installation are likely to propel its demand among consumers opting for home appliances with modern designs.
The commercial application segment was valued over USD 1 billion in 2017 owing to increasing adoption of compact microwave ovens by restaurants, hotels, hospitals.
Regional Analysis:
Asia Pacific dominated the global compact microwaves market in 2016. The region is expected to witness significant growth over the forecast period owing to increasing demand for small kitchen appliances from developing countries such as India and China. Furthermore, rising disposable income coupled with changing lifestyles will drive demand further. Europe accounted for a significant share of revenue in 2016 owing to high penetration rates of compact microwave ovens across several countries including Germany, France, Italy and Spain among others.
North America also contributed significantly towards market revenue in 2016 due to presence of key manufacturers such as General Electric; Westinghouse Electric Corporation; Samsung Electronics Co., Ltd.; LG Electronics Inc.; Panasonic Corporation; Hitachi Ltd.; Mitsubishi Electric Corp.
Growth Factors:
- Increasing demand for compact microwaves in the commercial sector as a result of their space-saving and energy-efficient features.
- Rising popularity of single serve microwaves among consumers due to their convenience and versatility.
- Growing demand for built-in microwaves as they save kitchen countertop space.
- Proliferation of smart home appliances, which is expected to drive the demand for compact microwaves in the near future.
Scope Of The Report
Report Attributes
Report Details
Report Title
Compact Microwaves Market Research Report
By Type
Grill Microwave Oven, Convection Microwave Oven, Microwave/Light-wave Oven, Others
By Application
Residential, Commercial
By Companies
GE, KitchenAid, Sharp, LG, Samsung, Panasonic, Whirlpool, Insignia
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
242
Number of Tables & Figures
170
Customization Available
Yes, the report can be customized as per your need.
Global Compact Microwaves Market Report Segments:
The global Compact Microwaves market is segmented on the basis of:
Types
Grill Microwave Oven, Convection Microwave Oven, Microwave/Light-wave Oven, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Commercial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- GE
- KitchenAid
- Sharp
- LG
- Samsung
- Panasonic
- Whirlpool
- Insignia
Highlights of The Compact Microwaves Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Grill Microwave Oven
- Convection Microwave Oven
- Microwave/Light-wave Oven
- Others
- By Application:
- Residential
- Commercial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Compact Microwaves Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Compact microwaves are a type of microwave oven that is smaller in size than traditional microwaves. They are typically used for cooking food in a hurry, such as making popcorn. Compact microwaves tend to be less powerful than traditional microwaves and may not be able to cook food evenly.
Some of the key players operating in the compact microwaves market are GE, KitchenAid, Sharp, LG, Samsung, Panasonic, Whirlpool, Insignia.
The compact microwaves market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Compact Microwaves Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Compact Microwaves Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Compact Microwaves Market - Supply Chain
4.5. Global Compact Microwaves Market Forecast
4.5.1. Compact Microwaves Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Compact Microwaves Market Size (000 Units) and Y-o-Y Growth
4.5.3. Compact Microwaves Market Absolute $ Opportunity
5. Global Compact Microwaves Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Compact Microwaves Market Size and Volume Forecast by Type
5.3.1. Grill Microwave Oven
5.3.2. Convection Microwave Oven
5.3.3. Microwave/Light-wave Oven
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Compact Microwaves Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Compact Microwaves Market Size and Volume Forecast by Application
6.3.1. Residential
6.3.2. Commercial
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Compact Microwaves Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Compact Microwaves Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Compact Microwaves Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Compact Microwaves Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Compact Microwaves Demand Share Forecast, 2019-2026
9. North America Compact Microwaves Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Compact Microwaves Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Compact Microwaves Market Size and Volume Forecast by Application
9.4.1. Residential
9.4.2. Commercial
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Compact Microwaves Market Size and Volume Forecast by Type
9.7.1. Grill Microwave Oven
9.7.2. Convection Microwave Oven
9.7.3. Microwave/Light-wave Oven
9.7.4. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Compact Microwaves Demand Share Forecast, 2019-2026
10. Latin America Compact Microwaves Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Compact Microwaves Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Compact Microwaves Market Size and Volume Forecast by Application
10.4.1. Residential
10.4.2. Commercial
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Compact Microwaves Market Size and Volume Forecast by Type
10.7.1. Grill Microwave Oven
10.7.2. Convection Microwave Oven
10.7.3. Microwave/Light-wave Oven
10.7.4. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Compact Microwaves Demand Share Forecast, 2019-2026
11. Europe Compact Microwaves Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Compact Microwaves Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Compact Microwaves Market Size and Volume Forecast by Application
11.4.1. Residential
11.4.2. Commercial
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Compact Microwaves Market Size and Volume Forecast by Type
11.7.1. Grill Microwave Oven
11.7.2. Convection Microwave Oven
11.7.3. Microwave/Light-wave Oven
11.7.4. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Compact Microwaves Demand Share, 2019-2026
12. Asia Pacific Compact Microwaves Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Compact Microwaves Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Compact Microwaves Market Size and Volume Forecast by Application
12.4.1. Residential
12.4.2. Commercial
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Compact Microwaves Market Size and Volume Forecast by Type
12.7.1. Grill Microwave Oven
12.7.2. Convection Microwave Oven
12.7.3. Microwave/Light-wave Oven
12.7.4. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Compact Microwaves Demand Share, 2019-2026
13. Middle East & Africa Compact Microwaves Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Compact Microwaves Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Compact Microwaves Market Size and Volume Forecast by Application
13.4.1. Residential
13.4.2. Commercial
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Compact Microwaves Market Size and Volume Forecast by Type
13.7.1. Grill Microwave Oven
13.7.2. Convection Microwave Oven
13.7.3. Microwave/Light-wave Oven
13.7.4. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Compact Microwaves Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Compact Microwaves Market: Market Share Analysis
14.2. Compact Microwaves Distributors and Customers
14.3. Compact Microwaves Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. GE
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. KitchenAid
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Sharp
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. LG
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Samsung
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Panasonic
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Whirlpool
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Insignia
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook