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United States Microwave Oven Market - Growth, Trends, Covid-19 Impact and Forecasts (2021-2026)

  • ID: 5458880
  • Report
  • October 2021
  • Region: United States
  • 120 Pages
  • Mordor Intelligence
UP TO OFF
until Dec 31st 2021

FEATURED COMPANIES

  • Bosch Global
  • Electrolux
  • Haier
  • Hitachi
  • IFB
  • LG

The growing inclination of customers towards spending on appliances to manage kitchen chores drives the growth of the household microwave oven segment. The growing number of smart homes in the United States mainly in metropolitan cities of the United States such as New York, Chicago, etc. have triggered consumer interest in connectivity-enabled smart appliances. Consumers are opting for smart appliances, like smart microwave ovens, which can be connected to their smartphones and monitored remotely. Moreover, the improvement in network infrastructure across the United States has resulted in better broadband and internet penetration, and consumers from this country prefer wireless and technologically advanced products due to the convenience offered by such products. With the growing trend of home automation in the United States, smart microwave ovens will witness increased adoption over the forecast period.

The coronavirus pandemic has shown an impact on the proper functioning of various industries in various regions. This was primarily due to reduced sales because of the lockdown being imposed and thus halt in logistics and electronic manufacturing. Closures of restaurants caused a ripple effect among related industries such as food production, their equipment manufacturers.

Key Market Trends


U.S. Household Developments Driving the Market

According to the U.S. Census Bureau, privately-owned housing units authorized by building permits in November 2020 were at a seasonally adjusted annual rate which s 6.2% above the revised October rate, and this is much above November 2019. Also, single-family housing completions in November were at a seasonally adjusted annual rate of rate which is 7.5% incremented to October rate. Such developments in the residential household category are expected to drive the need for various types of Microwave ovens due to growth in the kitchen and thus modern kitchen construction.

United States Witnessing Strongest Market of Built-In Microwave Oven

The market in the country is witnessing demand for premium range and in-built microwave ovens, driven by the growing popularity of modular kitchen designs and the increasing purchasing power of the consumers. The US modular kitchen market is growing owing to the rising demand for a comfortable and luxurious lifestyle with the help of modern kitchen appliances mainly strengthened by the installation of an in-built microwave oven

Consumers in the market prefer customized modular kitchens with aesthetic designs, different colors, textures, and advanced features such as smart technology-driven Microwave Oven in the kitchen, touch solutions help in estimating the boost in the smart microwave oven industry in the forecasted period.

Competitive Landscape

The United States Microwave Oven Market is very competitive and highly fragmented across the country offering a huge number of competitive players dominating the market, nowadays grabbing the market more powerfully by mergers and acquisitions and introducing new innovations with highly efficient features along with AI. This market is highly competitive due to the presence of both international and local players operating across the country such as Whirlpool, Bosch Global, Electrolux, Samsung, and many more. Competition in the market is expected to intensify with the vendors coming up with innovative products to meet the changing consumer demands and to increase their customer base. The market will also witness the entry of several new players resulting in price wars and increased M&As during the forecast period. Moreover, the growing focus on premium microwave ovens will play a key role in the growth of the market in the coming years.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Bosch Global
  • Electrolux
  • Haier
  • Hitachi
  • IFB
  • LG
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of Study
2 RESEARCH METHODOLOGY3 EXCEUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints/ Challenges
4.4 Value Chain/ Supply Chain Analysis
4.5 Porters Five Forces Analysis
4.5.1 Threat of new Entrants
4.5.2 Bargaining Power of Buyers/ Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Insights on Consumer Buying Behaviour in United States Microwave Oven Market
4.7 Insights on Technological Disruption in United States Microwave Oven Market
4.8 Impact of Covid-19 on the Market
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Convection
5.1.2 Grill
5.1.3 Solo
5.2 By Structure
5.2.1 Built-in
5.2.2 Counter Top
5.3 By Distribution Channel
5.3.1 Multi-Brand Stores
5.3.2 Exclusive Stores
5.3.3 e-Commerce
5.3.4 Other Distribution Channel
5.4 By End Users
5.4.1 Residential
5.4.2 Commercial
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Bosch Global
6.2.2 IFB
6.2.3 Panasonic India
6.2.4 Electrolux
6.2.5 General Electronics Corporation
6.2.6 LG
6.2.7 Samsung
6.2.8 Whirlpool
6.2.9 Haier
6.2.10 Hitachi*
7 FUTURE OF THE MARKET8 DISCLAIMER9 ABOUT US
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Bosch Global
  • IFB
  • Panasonic India
  • Electrolux
  • General Electronics Corporation
  • LG
  • Samsung
  • Whirlpool
  • Haier
  • Hitachi
Note: Product cover images may vary from those shown

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