GLOBAL MICROWAVE OVEN MARKET FORECAST & OPPORTUNITIES 2026

2016 –2026 GLOBAL MICROWAVE OVEN MARKET FORECAST & OPPORTUNITIES www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

Scope of Report Productof Interest (POI): Microwave Oven A microwave oven (commonly referred to as a microwave) is an electric oven that heats and cooks food by exposing it to electromagnetic radiation in the microwave frequency range. This induces polar molecules in the food to rotate and produce thermal energy in a process known as dielectric heating. Microwave ovens heat foods quickly and efficiently because excitation is fairly uniform in the outer 25–38 mm (1–1.5 inches) of a homogeneous, high water content food item. Market Segmentation PRODUCT REGION Year Range • Convection • Europe • Grill • North America • Solo • South America Review Period • Middle East & Africa 2016 – 2019 • Asia Pacific Base Year APPLICATION STRUCTURE 2020 • Household • Free-Standing Estimated Year • Commercial • Built-in 2021 Forecast Period 2022 – 2026 2

Table of Contents S. No. Contents Page No. 1. Product Overview (Definition of product and major terminologies used in the report) 2. Research Methodology (Detailed description of the methodology used to conduct the research, Raw data backup, list of all secondary sources, List of respondents for primary surveys) 3. Voice of Customer 3.1. Brand Awareness 3.2. Factors Influencing Purchase Decisions 4. Executive Summary (This chapter covers summary of the complete study.) Global Microwave Oven Market Outlook, 2016-2026F (This chapter includes a brief overview of 5. the product of interest market such as total market’s growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.) 5.1. Market Size & Forecast 5.1.1. By Value 5.2. Market Share & Forecast 5.2.1. By Product (Convection, Grill, Solo) 5.2.2. By Application (Household, Commercial) 5.2.3. By Structure (Free-Standing, Built-in) 5.2.4. By Region 5.2.5. By Company (2020) 3

Table of Contents S. No. Contents Page No. 5.3. Market Map 6. Asia-Pacific Microwave Oven Market Outlook, 2016-2026F 6.1. Market Size & Forecast 6.1.1. By Value 6.2. Market Share & Forecast 6.2.1. By Product 6.2.2. By Application 6.2.3. By Structure 6.2.4. By Country 6.3. Asia-Pacific: Country Analysis 6.3.1. China Microwave Oven Market Outlook, 2016-2026F 6.3.1.1. Market Size & Forecast 6.3.1.1.1. By Value 6.3.1.2. Market Share & Forecast 6.3.1.2.1. By Product 4

Table of Contents S. No. Contents Page No. 6.3.1.2.2. By Application 6.3.1.2.3. By Structure 6.3.2. India Microwave Oven Market Outlook, 2016-2026F 6.3.2.1. Market Size & Forecast 6.3.2.1.1. By Value 6.3.2.2. Market Share & Forecast 6.3.2.2.1. By Product 6.3.2.2.2. By Application 6.3.2.2.3. By Structure 6.3.3. Japan Microwave Oven Market Outlook, 2016-2026F 6.3.3.1. Market Size & Forecast 6.3.3.1.1. By Value 6.3.3.2. Market Share & Forecast 6.3.3.2.1. By Product 6.3.3.2.2. By Application 5

Table of Contents S. No. Contents Page No. 6.3.3.2.3. By Structure 6.3.4. South Korea Microwave Oven Market Outlook, 2016-2026F 6.3.4.1. Market Size & Forecast 6.3.4.1.1. By Value 6.3.4.2. Market Share & Forecast 6.3.4.2.1. By Product 6.3.4.2.2. By Application 6.3.4.2.3. By Structure 7. Europe Microwave Oven Market Outlook, 2016-2026F 7.1. Market Size & Forecast 7.1.1. By Value 7.2. Market Share & Forecast 7.2.1. By Product 7.2.2. By Application 7.2.3. By Structure 6

Table of Contents S. No. Contents Page No. 7.2.4. By Country 7.3. Europe: Country Analysis 7.3.1. France Microwave Oven Market Outlook, 2016-2026F 7.3.1.1. Market Size & Forecast 7.3.1.1.1. By Value 7.3.1.2. Market Share & Forecast 7.3.1.2.1. By Product 7.3.1.2.2. By Application 7.3.1.2.3. By Structure 7.3.2. Germany Microwave Oven Market Outlook, 2016-2026F 7.3.2.1. Market Size & Forecast 7.3.2.1.1. By Value 7.3.2.2. Market Share & Forecast 7.3.2.2.1. By Product 7.3.2.2.2. By Application 7.3.2.2.3. By Structure 7

Table of Contents S. No. Contents Page No. 7.3.3. United Kingdom Microwave Oven Market Outlook, 2016-2026F 7.3.3.1. Market Size & Forecast 7.3.3.1.1. By Value 7.3.3.2. Market Share & Forecast 7.3.3.2.1. By Product 7.3.3.2.2. By Application 7.3.3.2.3. By Structure 7.3.4. Italy Microwave Oven Market Outlook, 2016-2026F 7.3.4.1. Market Size & Forecast 7.3.4.1.1. By Value 7.3.4.2. Market Share & Forecast 7.3.4.2.1. By Product 7.3.4.2.2. By Application 7.3.4.2.3. By Structure 7.3.5. Spain Microwave Oven Market Outlook, 2016-2026F 8

Table of Contents S. No. Contents Page No. 7.3.5.1. Market Size & Forecast 7.3.5.1.1. By Value 7.3.5.2. Market Share & Forecast 7.3.5.2.1. By Product 7.3.5.2.2. By Application 7.3.5.2.3. By Structure 8. North America Microwave Oven Market Outlook, 2016-2026F 8.1. Market Size & Forecast 8.1.1. By Value 8.2. Market Share & Forecast 8.2.1. By Product 8.2.2. By Application 8.2.3. By Structure 8.2.4. By Country 8.3. North America: Country Analysis 9

Table of Contents S. No. Contents Page No. 8.3.1. United States Microwave Oven Market Outlook, 2016-2026F 8.3.1.1. Market Size & Forecast 8.3.1.1.1. By Value 8.3.1.2. Market Share & Forecast 8.3.1.2.1. By Product 8.3.1.2.2. By Application 8.3.1.2.3. By Structure 8.3.2. Canada Microwave Oven Market Outlook, 2016-2026F 8.3.2.1. Market Size & Forecast 8.3.2.1.1. By Value 8.3.2.2. Market Share & Forecast 8.3.2.2.1. By Product 8.3.2.2.2. By Application 8.3.2.2.3. By Structure 8.3.3. Mexico Microwave Oven Market Outlook, 2016-2026F 10

Table of Contents S. No. Contents Page No. 8.3.3.1. Market Size & Forecast 8.3.3.1.1. By Value 8.3.3.2. Market Share & Forecast 8.3.3.2.1. By Product 8.3.3.2.2. By Application 8.3.3.2.3. By Structure 9. South America Microwave Oven Market Outlook, 2016-2026F 9.1. Market Size & Forecast 9.1.1. By Value 9.2. Market Share & Forecast 9.2.1. By Product 9.2.2. By Application 9.2.3. By Structure 9.2.4. By Country (Brazil, Argentina, Colombia) 9.3. South America: Country Analysis 11

Table of Contents S. Contents Page No. No. 9.3.1. Brazil Microwave Oven Market Outlook, 2016-2026F 9.3.1.1. Market Size & Forecast 9.3.1.1.1 By Value 9.3.1.2. Market Share & Forecast 9.3.1.2.1. By Product 9.3.1.2.2. By Application 9.3.1.2.3. By Structure 9.3.2. Argentina Microwave Oven Market Outlook, 2016-2026F 9.3.2.1. Market Size & Forecast 9.3.2.1.1 By Value 9.3.2.2. Market Share & Forecast 9.3.2.2.1. By Product 9.3.2.2.2. By Application 9.3.2.2.3. By Structure 9.3.3. Colombia Microwave Oven Market Outlook, 2016-2026F 12

Table of Contents S. No. Contents Page No. 9.3.3.1. Market Size & Forecast 9.3.3.1.1 By Value 9.3.3.2. Market Share & Forecast 9.3.3.2.1. By Product 9.3.2.2.2. By Application 9.3.2.2.3. By Structure 10. Middle East & Africa Microwave Oven Market Outlook, 2016-2026F 10.1. Market Size & Forecast 10.1.1. By Value 10.2. Market Share & Forecast 10.2.1. By Product 10.2.2. By Application 10.2.3. By Structure 10.2.4. By Country (Saudi Arabia, South Africa, UAE) 10.3. Middle East & Africa : Country Analysis 13

Table of Contents S. No. Contents Page No. 10.3.2.1 Saudi Arabia Microwave Oven Market Outlook, 2016-2026F 10.3.1.1. Market Size & Forecast 10.3.1.1.1. By Value 10.3.1.2. Market Share & Forecast 10.3.1.2.1. By Product 10.3.1.2.2. By Application 10.3.1.2.3. By Structure 10.3.2. UAE Microwave Oven Market Outlook, 2016-2026F 10.3.2.1. Market Size & Forecast 10.3.2.1.1. By Value 10.3.2.2. Market Share & Forecast 10.3.2.2.1. By Offering 10.3.2.2.2. By Frequency 10.3.2.2.3. By Vertical 10.3.3. South Africa Microwave Oven Market Outlook, 2016-2026F 14

Table of Contents S. No. Contents Page No. 10.3.3.1. Market Size & Forecast 10.3.3.1.1. By Value 10.3.3.2. Market Share & Forecast 10.3.3.2.1. By Product 10.3.3.2.2. By Application 10.3.3.2.3. By Structure 11. Market Dynamics 11.1. Drivers 11.2. Challenges 12. Impact of COVID-19 on Global Microwave Oven Market 13. Market Trends & Developments 14. Competitive Landscape 14.1. Competition Outlook 14.2. Company Profiles (Top 10 Market Players) 14.2.1. Company details 15

Table of Contents S. No. Contents Page No. 14.2.2. Financials (As Reported) 14.2.3. Product & Services 14.2.4. Key market focus and geographical presence 14.2.5. Expansion Strategies 14.2.6. Key Management Personnel 15. Strategic Recommendations 16. About Us & Disclaimer 16

RESEARCH METHODOLOGY

Research Methodology Market Formulating Developing List Data Data Data Profiling Questionnaire of Respondents Collection Validation Analysis In-depth secondary In order to conduct List of industry TechSci conducted Data obtained as a The data was scrutinized research was conducted to industry experts’ players and industry interviews with result of primary using MS-Excel, statistical determine top players in interviews, TechSci specialists was industry experts and and secondary tools and internal the global microwave oven formulated a detailed developed. industry players for research was proprietary database to market, overall market size discussion guide. data collection and validated through obtain qualitative and and segmental market size. verification. rigorous quantitative insights about triangulation. the global microwave oven market. Primary Research Desk Research Company Analysis ✓ Identifying Key Opinion ✓ Recent Developments ✓ Market Participants Data Data Filter Research & Actionable Business ✓ Market Changing ✓ Key Strengths Collection & Analysis Intelligence Insights Solution Leaders Aspects/Dynamics ✓ Questionnaire Design ✓ Government Policies ✓ In-depth Interviews ✓ Conclusion Primary Research Secondary Paid Sources Research ✓ LinkedIn ✓ Company Websites ✓ Factiva ✓ TechSci Internal ✓ Company Annual ✓ Hoovers Database Reports ✓ White Paper Study ✓ Financial Reports ✓ Investor Presentations ✓ Regulatory Body ✓ Associations, etc. 18

Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of the global microwave oven market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as increasing population and growing demand for technology and smart kitchen. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in the global microwave oven market. Methodology Followed forCalculation of Market Size: • Market Size by Value & Volume : Market size, in terms of value, for the year 2020 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as microwave oven manufacturers, channelpartners, market influencers & end users, industry experts, and other industry participants. • Theteaminterviewed more than 15– 20microwave oven manufacturers, 100– 120 end users, and 15 – 20 industry experts and other value chain stakeholders in the global microwave oven market to obtain the overall market size from 2016 to 2020, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during 2016-2020. 19

Research Methodology • Respondents were asked about the current and future market growth rates, market shares by product, by application, by structure, by company and by each region. Removing the outlier responses, the geometric mean of growth estimates and provider wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various type werefurther triangulated from other stakeholders. Methodology Followed forCalculation of Market Shares: • Market shares by product, by application, by structure, by company and by each region were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various types of microwave oven. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed forForecasting: • TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/TableauSoftware. • Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast global microwaveovenmarket,TechSciResearchusedvariousforecasttechniquessuchas: ✓ Moving Average ✓ Time Series Analysis ✓ Regression Analysis ✓ Econometric and Judgmental Analysis 20

Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data. The currency used in the report is the United States Dollar (USD), with the market size indicated in USD million. Partial List of Companies Interviewed Key Secondary Sources ▪ Guangdong GalanzEnterprises Co., Ltd. ▪ World Bank ▪ AB Electrolux ▪ International Monetary Fund (IMF) ▪ LG Electronics. ▪ TechSci Research Proprietary Database & Knowledge ▪ MideaGroup Co., Ltd. Repository ▪ Samsung Electronics Co., Ltd. ▪ Company Annual Reports ▪ Panasonic Corporation ▪ Industry Magazines ▪ Sharp Corporation ▪ Industry Reports ▪ Whirlpool Corporation ▪ News Dailies ▪ BSH Haugerate GmbH ▪ Credible Paid Databases ▪ Breville Group Limited 21

Indutry Brief According to TechSci Research report, “Global Microwave Oven Market By Product (Convection, Grill and Solo), By Application (Household and Commercial), ByStructure (Free-Standing and Built-in), By Region, Competition, Forecast & Opportunities, 2026F”, the global microwave oven market is forecast to grow at a rate of over 4.31% to reach USD36,098.67 million by 2026F. Growth in the market can be attributed to the increasing population and growing demand of people towards technology and smart kitchens. Furthermore, the consumers are being attracted to smart technologies, and the increase in the disposable income helps them to purchase the desired products, thus, increasing the demand for microwave ovens. The demand for microwave ovens across the globe is expected to register strong growth during the forecast period as many factors are promoting its growth such as rising population, increasing number of nuclear families, growing awareness among consumersabout smartkitchen appliances, such as microwave ovens, are projected to impact the market positively. Globally, the microwave oven market is increasing at a robust scale, owing to rapid economic development, enhancing standard of living of consumers, rising number of working women, and preoccupied life schedule of people in urban cities. With the introduction of new technology, many companies are likely to launch products that use less energy and offer better benefits over the usual counterparts. Advanced products bring along inverter-based microwave ovens which can escalate the market in the future. Moreover, surging demand for frozen and pre-cooked, ready-to-eat food, changing eating preferences & lifestyles, and the rising number of hotels, restaurants, and cafes are among the key trends escalating the market growth. However, factors such as increase in the price of raw material, heavy tax burden levy on import and export are further expected to restrict the market growth over the next few years. The requirement for a microwave oven may gain great support from the rising consumer spending on kitchen appliances. The adoption of kitchen and home appliances is forecast to witness robust growth, owing to the increasing rate of urbanization. Thebusyschedule of people, increasing number of working members in the family is among the top factor affecting the growth of the microwave oven market as they make cooking simpler and quick. The vigorous growth has been witnessed in the hospitality sector and soaring catering contracts for large-scale functions, seminars, and other social gatherings which also drives the demand for commercial appliances over the forecast period. The trend of quick-service restaurants, cafes, and dining out are expected to be in the favour of the market. The restraints to the market are the upgrading and change in technology which is dynamic in nature, increase in the import and export taxes leading to high price of the product, which decreases the demand in the market. The global microwave oven market is segmented based on product, application, structure, and region. In terms of product, the market can be segregated into convection, grill, and solo. Out of these, the convection segment registered a market share of 52.61% in 2020 due to its multipurpose uses, offering functions like defrosting, heating, cooking, grilling, baking, and roasting, and also convection automatically adjusts the temperature when the optimum cooking level is reached. The application segment is split up into household and commercial, where the household segment is dominating due to rapid increase in the population whereas, the commercial sector is the fastest growing due to the swift increase in number of hotels, bars, cafes and restaurants. Based on structure, the market is divided into Free-Standing and Built-in. Among which, Free-Standing is dominating the market as it is budget friendly, and can be carried from one place to another, whereas built-in microwaves are expensive and require installation cost. In terms of regional analysis, North America is dominating the market due to high per capita income and higher living standard of people. The North America region has a market share of 34.42% in 2020. Asia-Pacific is the fastest-growing region among the global microwave oven market and the region is projected to grow at a CAGR of 5.33%, in value terms, during the forecast period. The growing country in the region is India, due to improving lifestyle and standard of living of people. India has seen an increase in the disposable income of consumers which facilitates the growth of the microwave oven market. “The expanding size of the population, consumer likeliness about smart kitchen appliances, and growing number of working population are the major factors driving the global microwave oven market. With this, the per capita income is rising which increases the purchasing power of the consumers which makes them approach stylish kitchen appliances, complementing the living standard of people.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global managementconsulting firm. 22

Sample Data -Snapshot Global Microwave Oven Market Size, By Value (USD Million), 2016–2026F 12.00 13.00 14.00 15.00 8.00 9.00 10.00 11.00 5.00 6.00 7.00 2016 CAGR By Value 2020 2021E CAGR By Value 2026F XX% By Value (USD Million) YY% Asia-Pacific Microwave Oven Market Share, By Product, By Value, 2016–2026F Convection Grill Solo 2026F 40% 30% 30% 2025F 40% 30% 30% 2024F 40% 30% 30% 2023F 40% 30% 30% 2022F 40% 30% 30% 2021E 40% 30% 30% 2020 40% 30% 30% 2019 40% 30% 30% 2018 40% 30% 30% 2017 40% 30% 30% 2016 40% 30% 30% India Microwave Oven Market Share, By Application, By Value, 2016–2026F Household Commercial 2026F 40% 60% 2025F 40% 60% 2024F 40% 60% 2023F 40% 60% 2022F 40% 60% 2021E 40% 60% 2020 40% 60% 2019 40% 60% 2018 40% 60% 2017 40% 60% 2016 40% 60% 23

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