Asia Pacific Microwave Oven Market is expected to reach US$ XX Billion by 2026 from US$ XX Billion in 2018 at CAGR of XX%. By product type, convection microwave segment is estimated to hold the largest share of the market in forecast period due to its features as supplies both hot air and microwaves for cooking and it is used in commercial purpose such as in hotels, restaurants for cook large amount of food. The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
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.
The development of the cavity magnetron made possible the production of electromagnetic waves of a small enough wavelength (microwaves). American engineer Percy Spencer is generally credited with inventing the modern microwave oven after World War II from radar technology developed during the war. Named the “Radarange”, it was first sold in 1946. Raytheon later licensed its patents for a home-use microwave oven that was first introduced by Tappan in 1955, but these units were still too large and expensive for general home use. Sharp Corporation introduced the first microwave oven with a turntable between 1964 and 1966. The countertop microwave oven was first introduced in 1967 by the Amana Corporation. After Sharp introduced low-cost microwave ovens affordable for residential use in the late 1970s, their use spread into commercial and residential kitchens around the world. In addition to their use in cooking food, microwave ovens are used for heating in many industrial processes.
Microwave ovens are a common kitchen appliance and are popular for reheating previously cooked foods and cooking a variety of foods. They are also useful for rapid heating of otherwise slowly prepared foodstuffs, which can easily burn or turn lumpy when cooked in conventional pans, such as hot butter, fats, chocolate or porridge. Unlike conventional ovens, microwave ovens usually do not directly brown or caramelize food, since they rarely attain the necessary temperatures to produce Maillard reactions. Exceptions occur in rare cases where the oven is used to heat frying-oil and other oily items (such as bacon), which attain far higher temperatures than that of boiling water.
Microwave ovens have limited roles in professional cooking, because the boiling-range temperatures of a microwave will not produce the flavorful chemical reactions that frying, browning, or baking at a higher temperature will. However, additional heat sources can be added to microwave ovens.
By product type, Asia Pacific Microwave Oven Market is segmented into grill, Solo, Convection Microwave Ovens.
The convection microwave segment is estimated to hold the largest XX % share of the market in forecast period due to its features as supplies both hot air and microwaves for cooking and it is used in commercial purpose such as in hotels, restaurants for cook large amount of food. On the basis of application, commercial segment is expected to hold the largest share of the market during the forecast period due to a rise in hotels and restaurants and demand for quick services of food. Based on distribution channel, Asia Pacific Microwave Oven Market is segmented into online and offline.
An online segment is estimated to hold the XX% share of the market during the forecast period due to rising usage of smartphones & internet, increasing advanced technology, and a rising trend of online shopping. In terms of country, China is estimated to hold the largest share of the market during the forecast period due to changing lifestyle, cooking way & eating habits, and rising demand for the high tech materials.
Key player’s studies, analyzed, profiled and benchmarked in the microwave oven market are Panasonic Corporation, Whirlpool Corporation, LG Corporation (LG Electronics, Inc.), Samsung Electronics Co. Ltd., Alto Shaam, Inc., AB Electrolux, Hon Hai Precision Industry Co., Ltd., Techtronic Industries (Hoover limited), Illinois Tool Works (ITW) Inc., and Galanz Enterprise Group. The objective of the report is to present comprehensive analysis of Asia Pacific Microwave Oven Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Asia Pacific Microwave Oven Market dynamics, structure by analyzing the market segments, and project the Asia Pacific Microwave Oven Market size. Clear representation of competitive analysis of key players by Asia Pacific Microwave Oven Type, price, financial position, product portfolio, growth strategies, and regional presence in the Asia Pacific Microwave Oven Market make the report investor’s guide.
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Scope of the Report Microwave Oven Market
Asia Pacific Microwave Oven Market, by Product Type
• Grill • Solo • Convection Microwave Ovens
Asia Pacific Microwave Oven Market, by Application
• Commercial • Household
Asia Pacific Microwave Oven Market, by Structure
• Counter Top • Built-In Microwave Ovens
Asia Pacific Microwave Oven Market, by Distribution Channel
• Online • Offline
Asia Pacific Microwave Oven Market, by Country
• China • Japan • India • South Korea • Australia • Rest of Asia Pacific
Key Players in Asia Pacific Microwave Oven Market
• Panasonic Corporation • Whirlpool Corporation • LG Corporation (LG Electronics, Inc.) • Samsung Electronics Co. Ltd. • Alto Shaam, Inc. • AB Electrolux • Hon Hai Precision Industry Co., Ltd. • Techtronic Industries (Hoover limited) • Illinois Tool Works (ITW) Inc. • Galanz Enterprise Group
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