North America Microwave Oven Market Overview:
North America Microwave Oven Market is expected to garner $7.9 billion by 2020, registering a CAGR of 5.1% during the forecast period 2015-2020. Microwave ovens have become an essential part of the kitchen, be it for re-heating the food or preparing daily meals. These ovens function on thermal energy by heating the polar molecules in food, a process also known as dielectric heating. The microwave radiations emitted from microwave oven are of shorter wavelength, but they possess enormous amount of energy which facilitates faster cooking. Microwaves, depending on their power output, can alternatively be used for roasting, baking, and grilling.
The North America microwave oven market is expected to grow at a moderate pace during the forecast period, with a CAGR of 5.1% over 2015 2020. U.S. is the largest market of microwave ovens in North America, followed by Canada. The market in the region is witnessing demand for premium range and in-built microwave ovens, driven by the growing popularity of modular kitchen designs and increasing purchasing power of the consumers.
The market is segmented on the basis of product type into: convection, grill, and solo microwave ovens. Convection microwave oven would be the highest revenue generating segment across all the years as it offers several cooking functions and enables uniform cooking. Based on the structure, the market is bifurcated into built-in and countertop microwave ovens. The countertop microwave oven segment is the major revenue-generating segment due to the easy portability and lower prices of these ovens. However, the built-in microwave ovens are likely to achieve robust growth during the analysis period. The market is also analyzed with respect to the household and commercial application of microwave ovens in the region.
The report provides an in-depth analysis of the North America microwave oven market in countries namely the U.S., Canada and Mexico. In 2014, the U.S. generated the largest revenue in this market. However, Mexico is likely to witness robust growth during the forecast period, owing to improving living standards and demand for efficient microwave ovens, which enable fast cooking. The rising propensity of consumers to spend on appliances, which assist them in kitchen chores, is generating an increasing demand for microwave ovens.
The key players profiled in the report include LG Electronics, Samsung Electronics, Alto-Shaam Inc., AB Electrolux, Sharp Corporation, and Hoover Limited among others.
- A thorough analysis of the current trends and future estimations in the North America microwave oven market elucidates the imminent investment pockets in this region
- The report provides information regarding key drivers, restraints, and opportunities with a detailed impact analysis
- Porters Five Forces model and a SWOT analysis of the industry illustrate the potency of the buyers and suppliers.
- A quantitative analysis of the current market scenario and future estimations from 2015 to 2020 is provided to showcase the financial competency of the market.
- The report presents a detailed analysis of the North America microwave oven market with respect to type of microwave oven, types of application, product structure, and countries to enable stakeholders take precise investment decisions.
- Value chain analysis provides a clear understanding of the roles of stakeholders involved.
NORTH AMERICA MICROWAVE OVEN MARKET KEY SEGMENTS:
The North America microwave oven market segmentation is illustrated as follows:
By Type (Revenue & Volume)
By Application (Revenue & Volume)
By Structure (Revenue & Volume)
- Counter top
By Country (Revenue & Volume)
- LG Electronics
- Samsung Electronics
- Alto-Shaam Inc.
- AB Electrolux
- Sharp Corporation
- Hoover Limited
- Illinois Tool Works Inc.
- Galanz Enterprise Group
- Whirlpool Corporation
- Panasonic Corporation
- General Electric Company