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Microwave Oven Market in the US 2016-2020

Microwave Oven Market in the US 2016-2020

About Consumer Preferences for Microwave Ovens

Consumers are now preferring microwave ovens, which are energy-efficient and have a high visual appeal. Consumers have started preferring built-in microwave ovens and are willing to pay premium prices for products that offer smart features or better aesthetic appeal. Consumers prefer buying electronic and household appliances during seasonal sales such as Black Friday and Cyber Monday.

Technavio’s analysts forecast the microwave oven market in the US to grow at a CAGR of 3.75% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the microwave oven market in the US for 2016-2020. To calculate the market size, the report considers the revenue generated from the retail sales of microwave ovens in the residential and commercial segments.

The market is divided into the following segments based on geography:

  • Convection microwave oven
  • Grill microwave oven
  • Solo microwave oven
Technavio's report, Microwave Oven Market in the US 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Electrolux
  • GE
  • Sharp
  • Whirlpool
Other prominent vendors
  • Bosch
  • Breville
  • Galanz
  • Haier
  • LG Electronics
  • Miele
  • Panasonic
  • Samsung
Market driver
  • Home improvement, kitchen design and style projects encouraging purchase of built-in forms
  • For a full, detailed list, view our report
Market challenge
  • Growing popularity of alternate kitchen gear
  • For a full, detailed list, view our report
Market trend
  • Smart homes supplementing the growth of smart microwave ovens
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Microwave Oven Market in the US 2016-2020

Technavio recognizes the following companies as the key players in the microwave oven market in the US: Electrolux, GE, Sharp, and Whirlpool.

Other Prominent Vendors in the market are: Bosch, Breville, Galanz, Haier, LG Electronics, Miele, Panasonic, and Samsung.

Commenting on the report, an analyst from Technavio’s team said: “Focusing on the aesthetic factors will be a key trend for market growth. With the market for microwaves being highly mature and reaching the declining stage in the product lifecycle, vendors are coming up with different color options, styles, and designs to differentiate their product offerings. One of the major roadblocks faced by the vendors in this market is the uniformity maintained across all large and small players. This allows players to come up with new designs and colors. Most of these ovens come with advanced speed-cook modes, interactive recipe databases, and in colors that complement the kitchen décor, as well as in varying sizes, which enable them to be used on the countertop or over the range. Some of the vendors following this trend include Samsung, Panasonic, Kenmore, LG, and Whirlpool. For instance, LG released the LG Studio Over-the-Range Microwave Oven in 2015. This over-the-range microwave is aesthetically pleasing, with its sleek flat door design, glass touch controls, distinctive handles, metal dial knob, and a stainless steel finish. Another appliance manufacturer, Smeg, focuses on the aesthetic factor of the microwave ovens, with the Classic and the LINEA models in stainless steel for the US market.”

According to the report, multi-functional and pre-programmed cooking options will be a key driver for market growth. A number of vendors operating in this space are now coming up with multi-functional microwave ovens, which can be used for cooking, baking, as well as grilling. For example, convection models have inbuilt baking grills and pre-programmed options for ease of operation. Integrated turntables are designed to ensure that food cooks evenly. These turntables have a grid for grilling meat products, an enameled metal tray, and a baking tray in addition to the glass plate.

Further, the report states that one of the challenges for the market will be growing popularity of alternate kitchen gear. Growing interest in haute cuisines has led to a high popularity of alternative kitchen equipment such as slow cookers, griddles, rice makers, and crock pots. The small appliance category has increased by over 51% since 2000. Hence, with the growth of these niche kitchen appliances, customers now have a wide range of cooking appliances to choose from, which is affecting the microwave oven market in the US negatively. Significant growth has been noted in slow cookers, rice cookers, and other kitchen devices. More competition for countertop space will impact the demand for the microwave ovens in the coming years. Sales of toaster ovens, which are considered to be a microwave oven’s closest kitchen competitor, have been up by over 80% since 2000.

Companies Mentioned

Electrolux, GE, Sharp, Whirlpool, Bosch, Breville, Galanz, Haier, LG Electronics, Miele, Panasonic, Samsung.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
    • Consumer insights
      • Table Consumer insights
    • Market insights
  • US profile
  • Market landscape
    • Market overview
      • Table Retail market in US 2015-2020 ($ trillions)
      • Table Retail market in US by product category 2015
      • Table Microwave oven as a percentage of consumer electronics and electricals
      • Table Home appliances: Overview
      • Table Global home appliances market 2014-2021 ($ billions)
      • Table Segment-wise distribution of home appliances at a global level 2015
      • Table Expenditure on home appliances: Developed vs. developing country 2014 and 2015 ($)
      • Table Average energy consumption per use of major home appliances by Bosch in 2000 and 2015 (kW)
      • Table Percentage of omni-channel shoppers in US 2014
      • Table Global microwave oven market vs. microwave oven market in US 2015 ($ billions)
      • Table CAGR comparison of global and US microwave oven markets 2015-2020
      • Table Microwave oven market in US
    • Market size and forecast
      • Table Microwave oven market in US 2015-2020 ($ billions)
      • Table Distribution of expenditure on home appliances in US 2015
    • Five forces analysis
      • Table Five forces analysis
  • Segmentation by retail formats
    • Microwave oven market in US by retail formats
      • Table Microwave oven market in US by retail formats
      • Table Analysis of different retail formats based on key parameters
  • Market segmentation by application
    • Microwave oven market in US by application
      • Table Microwave oven market in US by application 2015 and 2020
      • Table CAGR comparison: Segmentation by application
  • Market segmentation by product
    • Microwave oven market in US by product type
      • Table Microwave oven market in US by product type 2015 and 2020 (% revenue)
    • CAGR comparison: Segmentation by product type
      • Table CAGR comparison: Segmentation by product type 2015-2020
    • Free-standing microwave oven market in US
      • Table Free-standing microwave oven market in US 2015-2020 ($ millions)
    • Built-in microwave oven market in US
      • Table Built-in microwave oven market in US 2015-2020 ($ billions)
  • Market drivers
    • Home improvement, kitchen design and style projects encouraging purchase of built-in forms
      • Table Distribution of expenditure on home improvement in US 2014 (%)
    • Need for faster cooking and simplification
    • Multi-functional and pre-programmed cooking options
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Growing popularity of alternate kitchen gear
    • Increasing preference for fresh food products
    • Perceptions of microwave ovens being unsafe
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Smart homes supplementing the growth of smart microwave ovens
    • Technology and smart features influencing upgrade purchases
    • Focus on the aesthetic factor
  • Vendor landscape
    • Competitive scenario
    • Key focus points for players
    • Key players in the microwave oven market in US
    • Competitive assessment of top four vendors
    • Electrolux
      • Table Electrolux: Business segmentation by revenue 2015
      • Table Electrolux: Business segmentation by revenue 2014 and 2015 ($ billions)
      • Table Electrolux: Geographical segmentation by revenue 2015
    • GE
      • Table GE: Business segmentation by revenue 2015
      • Table GE: Business segmentation by revenue 2014 and 2015 ($ billions)
      • Table GE: Geographical segmentation by revenue 2015
    • Sharp
      • Table Sharp: Business segmentation by revenue 2015
      • Table Sharp: Business segmentation by revenue 2014 and 2015 ($ billions)
      • Table Sharp: Geographical segmentation by revenue 2015
    • Whirlpool
      • Table Whirlpool: Product segmentation by revenue 2015
      • Table Whirlpool: Product segmentation by revenue 2014 and 2015 ($ billions)
      • Table Whirlpool: Geographical segmentation by revenue 2015
    • Other prominent vendors
  • Appendix
    • List of abbreviations
  • Explore Technavio

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