The report on the Microwave Oven Market published by Stratview Research covers in depth details associated with the Microwave Oven Market.
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The Microwave Oven Market is likely to witness a CAGR of 8.8% during the forecast period. The prime factors that are driving the Microwave Oven Market is its superior thermal conductivity property leading to its wide usage in a wide array of industries.
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.
Growth drivers and Market Value:
This report, from Stratview Research, studies Microwave Oven market value and growth drivers over the trend period of 2022-27. 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.
Segment Analysis:
Based on by Product Type:
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 Regional:
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.
Critical Questions Answered in the Report
• What are the key trends in the Microwave Oven Market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on Microwave Oven Market?
• What are the key strategies adopted by the major vendors to lead in the Microwave Oven Market?
• What is the market share of the top vendors?
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