Microwave Oven Market estimated to reach US$19.403 billion by 2030 at a CAGR of 6.10%

The global microwave oven market is expected to grow at a CAGR of 6.10%, reaching a market size of US$19.403 billion in 2030 from US$14.430 billion in 2025.

NEW YORK, NY, UNITED STATES, March 6, 2025 /EINPresswire.com/ -- As per a new study published by Knowledge Sourcing Intelligence, the global microwave oven market is projected to grow at a CAGR of 6.10% and is expected to reach US$19.403 billion in 2030.

A microwave oven is a form of kitchen equipment that heats up various food items by exposing them to microwave radiation, causing polarized molecules in the food to rotate and produce thermal energy through dielectric heating. It basically warms the water molecules in food using microwaves, which in turn generates heat that cooks or re-heats the food.

Major drivers of the global microwave oven market include increasing purchasing power and living standards with rising urbanization. Growing workforces and the fast-paced lifestyle are also shifting the taste of consumers from traditional to modern appliances, increasing the thrust for microwave ovens. Busy lifestyles nowadays also afford individuals more to eat ready-made, pre-cooked, shared, and frozen meals, therefore, people are consuming them more, prompting sales of microwave ovens eventually as they are chic and make their homes convenient based on changed lifestyles and consumer preferences. Rising energy consumption concerns have also worked to drive consumers towards modern, cost-efficient, and energy-efficient kitchen appliances, positively affecting the demand for microwave ovens.

The development of global microwave ovens is also creating opportunities for the growth of the market during the projected period. For instance, in May 2024, Toshiba announced the launch of its New Air Fry Microwave Oven (MW3-AC26SF) at the European Trade Conference 2024 in Greece. This oven from the W3 series has perhaps achieved another benchmark in kitchen technological innovation.

Access sample report or view details: https://www.knowledge-sourcing.com/report/global-microwave-oven-market

By product type, the global microwave oven market can be classified into solo, grill, and convection. The convection segment is the largest part of the market in the microwave oven, as it can provide the best flexibility through microwave functionality and convection cooking combined. Convection microwaves use a fan to circulate some hot air in the oven. It works in the same fast-cooking way as a normal oven. Thus, there is a rise in consumers looking for appliances for baking, roasting, or grilling in a single device, especially those who have limited space in the kitchen.

By structure, the global microwave oven market can be segmented into build-in and countertop. The built-in appliances segment contributes significantly to the growth in the market, with microwaves fitted into cabinets for that sleek modern look. It is becoming increasingly popular in new homes and building renovations, they also catch onto the trend of having a more combined kitchen design, which is becoming more important because of modernizing and smart kitchens.

The global microwave oven market is segmented by application into residential and commercial. The global microwave oven market is anticipated to be dominated by residential segments in the structure segment due to rising demand for diverse applications ranging from reheating to cooking meals. Busy lifestyles combined with a rising number of people consuming ready-to-eat and frozen foods encourage much kitchen use in a country leading to growth in the market.

The global microwave oven market is based on distribution channels divided into online and offline. This segment is witnessing a rise due to alignment with market trends, combined with the growth of e-commerce, which will increasingly facilitate the online distribution of microwave ovens. Consumers can access browsing and comparing prices and reviews right from their homes. Online retailer pricing and promotions are usually competitive which draws price-sensitive customers. The factor for the delivery ease and reach into further corners of the online platforms is adding to the growing trend.

In terms of geography, the Asia Pacific region of the global microwave oven market is witnessing significant growth because of rapid urbanization, lifestyle changes, and increased disposable incomes. Additionally, the rising demand for convenience and the expansion of online retail channels and outlet stores is also contributing to the market growth. The population of the working class is also increasing continuously in this geographic area, therefore, increasing demand for quick and easy meal preparations. The growing online retail sales especially because of the expanding reach of e-commerce, help to make microwave ovens available for consumers, promoting the regional market growth.

As a part of the report, the major players operating in the global microwave oven market have been covered as LG Electronics, Whirlpool, SAMSUNG, Haier Inc., Electrolux, Panasonic, Sharp Corporation, Midea Group, DAEWOO Electronics UK Ltd, and BSH Hausgeräte GmbH, among others.

The market analytics report segments the global microwave oven market as follows:

• By Product Type

o Solo
o Grill
o Convection

• By Structure

o Built-In
o Countertop

• By Application

o Residential
o Commercial

• By Distribution Channel

o Online
o Offline

• By Geography

• North America

o USA
o Canada
o Mexico

• South America

o Brazil
o Argentina
o Others

• Europe

o United Kingdom
o Germany
o France
o Italy
o Spain
o Others

• Middle East and Africa

o Saudi Arabia
o UAE
o Israel
o Others

• Asia Pacific

o China
o India
o Japan
o South Korea
o Taiwan
o Thailand
o Indonesia
o Others

Companies Profiled:

• LG Electronics
• SAMSUNG
• Whirlpool
• Haier Inc.
• Electrolux
• BSH Hausgeräte GmbH
• Panasonic
• Sharp Corporation
• Midea Group
• DAEWOO Electronics UK Ltd

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Knowledge Sourcing Intelligence (KSI) is a market research and intelligence provider that uses a combination of quantitative and qualitative research techniques to deliver comprehensive, in-depth insights to clients. Our approach to market research is centered around the concept of 'Knowledge Sourcing' - the process of gathering data and insights from multiple sources to create a comprehensive and well-rounded picture of the market. KSI's core services include market intelligence, competitive intelligence, customer intelligence, and product intelligence. KSI's approach to market research is designed to help clients make informed decisions, identify opportunities, and gain a better understanding of their target markets. By using a combination of primary and secondary research techniques, we provide clients with detailed insights into current market trends, customer profiles, competitor analysis, and product performance. KSI's market research and intelligence services enable clients to make informed decisions, develop strategic plans, and identify areas of opportunity.

Harsh Sharma
Knowledge Sourcing Intelligence LLP
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