Microwave Oven Market in the US 2016-2020

  • ID: 3832384
  • Report
  • Region: United States
  • 68 pages
  • TechNavio
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FEATURED COMPANIES

  • Bosch
  • Electrolux
  • GE
  • LG Electronics
  • Panasonic
  • Sharp
  • MORE
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.

The 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

The 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 drivers
- Home improvement, kitchen design and style projects encouraging purchase of built-in forms

Market challenges
- Growing popularity of alternate kitchen gear

Market trends
- Smart homes supplementing the growth of smart microwave ovens

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?

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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Bosch
  • Electrolux
  • GE
  • LG Electronics
  • Panasonic
  • Sharp
  • MORE
PART 01: Executive summary
  • Highlights
PART 02: Scope of the report
  • Market overview
  • Top-vendor offerings
PART 03: Market research methodology
  • Research methodology
  • Economic indicators
PART 04: Introduction
  • Key market highlights
  • Consumer insights
  • Market insights
PART 05: US profile

PART 06: Market landscape
  • Market overview
  • Market size and forecast
  • Five forces analysis
PART 07: Segmentation by retail formats
  • Microwave oven market in US by retail formats
PART 08: Market segmentation by application
  • Microwave oven market in US by application
PART 09: Market segmentation by product
  • Microwave oven market in US by product type
  • CAGR comparison: Segmentation by product type
  • Free-standing microwave oven market in US
  • Built-in microwave oven market in US
PART 10: Market drivers
  • Home improvement, kitchen design and style projects encouraging purchase of built-in forms
  • Need for faster cooking and simplification
  • Multi-functional and pre-programmed cooking options
PART 11: Impact of drivers

PART 12: Market challenges
  • Growing popularity of alternate kitchen gear
  • Increasing preference for fresh food products
  • Perceptions of microwave ovens being unsafe
PART 13: Impact of drivers and challenges

PART 14: Market trends
  • Smart homes supplementing the growth of smart microwave ovens
  • Technology and smart features influencing upgrade purchases
  • Focus on the aesthetic factor
PART 15: 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
  • GE
  • Sharp
  • Whirlpool
  • Other prominent vendors
PART 16: Appendix
  • List of abbreviations
PART 17: About the Author

List of Exhibits

Exhibit 01: Product offerings
Exhibit 02: Consumer insights
Exhibit 03: Retail market in US 2015-2020 ($ trillions)
Exhibit 04: Retail market in US by product category 2015
Exhibit 05: Microwave oven as a percentage of consumer electronics and electricals
Exhibit 06: Home appliances: Overview
Exhibit 07: Global home appliances market 2014-2021 ($ billions)
Exhibit 08: Segment-wise distribution of home appliances at a global level 2015
Exhibit 09: Expenditure on home appliances: Developed vs. developing country 2014 and 2015 ($)
Exhibit 10: Average energy consumption per use of major home appliances by Bosch in 2000 and 2015 (kW)
Exhibit 11: Percentage of omni-channel shoppers in US 2014
Exhibit 12: Global microwave oven market vs. microwave oven market in US 2015 ($ billions)
Exhibit 13: CAGR comparison of global and US microwave oven markets 2015-2020
Exhibit 14: Microwave oven market in US
Exhibit 15: Microwave oven market in US 2015-2020 ($ billions)
Exhibit 16: Distribution of expenditure on home appliances in US 2015
Exhibit 17: Five forces analysis
Exhibit 18: Microwave oven market in US by retail formats
Exhibit 19: Analysis of different retail formats based on key parameters
Exhibit 20: Microwave oven market in US by application 2015 and 2020
Exhibit 21: CAGR comparison: Segmentation by application
Exhibit 22: Microwave oven market in US by product type 2015 and 2020 (% revenue)
Exhibit 23: CAGR comparison: Segmentation by product type 2015-2020
Exhibit 24: Free-standing microwave oven market in US 2015-2020 ($ millions)
Exhibit 25: Built-in microwave oven market in US 2015-2020 ($ billions)
Exhibit 26: Distribution of expenditure on home improvement in US 2014 (%)
Exhibit 27: Impact of drivers
Exhibit 28: Impact of drivers and challenges
Exhibit 29: Electrolux: Business segmentation by revenue 2015
Exhibit 30: Electrolux: Business segmentation by revenue 2014 and 2015 ($ billions)
Exhibit 31: Electrolux: Geographical segmentation by revenue 2015
Exhibit 32: GE: Business segmentation by revenue 2015
Exhibit 33: GE: Business segmentation by revenue 2014 and 2015 ($ billions)
Exhibit 34: GE: Geographical segmentation by revenue 2015
Exhibit 35: Sharp: Business segmentation by revenue 2015
Exhibit 36: Sharp: Business segmentation by revenue 2014 and 2015 ($ billions)
Exhibit 37: Sharp: Geographical segmentation by revenue 2015
Exhibit 38: Whirlpool: Product segmentation by revenue 2015
Exhibit 39: Whirlpool: Product segmentation by revenue 2014 and 2015 ($ billions)
Exhibit 40: Whirlpool: Geographical segmentation by revenue 2015
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Bosch
  • Electrolux
  • GE
  • LG Electronics
  • Panasonic
  • Sharp
  • MORE
New Report Released: - Microwave Oven Market in the US 2016-2020

The author of the report 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 the research 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.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Note: Product cover images may vary from those shown
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- Electrolux
- GE
- Sharp
- Whirlpool
- Bosch
- Breville
- Galanz
- Haier
- LG Electronics
- Miele
- Panasonic
- Samsung
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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