The microwave oven market is projected to reach a total valuation of US$16.13 billion by 2033, up from US$11.8 billion in 2025. According to the analyst, the global microwave oven industry is expected to achieve a compound annual growth rate of 3.98% between 2025 and 2033. This growth is driven by increasing consumer demand for time-saving cooking solutions, the rising adoption of modern kitchen appliances, and technological advancements in microwave oven features.
A microwave oven is a kitchen appliance that utilizes electromagnetic radiation to quickly and efficiently heat and cook food. It operates by emitting microwaves, which are absorbed by water molecules in food, causing them to vibrate and generate heat. This unique cooking method allows for faster meal preparation compared to conventional ovens and stovetops.
The popularity of microwave ovens has surged globally since their introduction in the mid-20th century. They offer convenience for busy lifestyles, enabling people to heat leftovers, defrost meat, or cook meals in a fraction of the time. This has made them a staple in households, restaurants, and food service establishments alike.
In addition to speed, microwave ovens are praised for their energy efficiency; they consume less energy than traditional ovens. Their versatility has also expanded, with models now offering options such as grilling and convection cooking. With the rise of fast-paced living and an increased focus on time-saving solutions in cooking, the microwave oven remains an indispensable appliance in kitchens around the world. Its ability to adapt to diverse cooking needs continues to enhance its appeal and usage.
Headquarters: United States of America
Illinois Tool Works Inc. (ITW) is a global manufacturer specializing in a diverse range of industrial products and equipment. The company's main activities include producing components and equipment for various sectors such as automotive, food service, electronics, welding, polymers, construction, and specialty products. ITW's major products include automotive components, commercial food equipment, test and measurement devices, welding equipment, adhesives, and construction fasteners. The company serves a wide array of industries, including automotive original equipment manufacturers, food service, electronics, construction, and general industrial markets. ITW distributes its products directly to industrial manufacturers and through independent distributors. The company operates globally, with facilities in numerous countries, including China, Germany, France, and the UK.
Headquarters: Japan
Sharp Corp (Sharp) designs, develops, manufactures, and sells telecommunications equipment, electric and electronic application equipment, and electronic components. The company’s major products include refrigerators, electric fans, dehumidifiers, electric heating equipment, superheated steam ovens, microwave ovens, air conditioners, washing machines, vacuum cleaners, air purifiers, plasma cluster ion generators, beauty and hairdressing equipment, led lighting, calculators, telephones, network control units, solar cells, sensor modules, optical devices, CMOS image sensors, etc. The company also offers digital multifunction printers, information displays, commercial projectors, POS system equipment, options, and consumables, as well as office-related solutions and services, along with software and computers. The company provides its products to original equipment manufacturers, electronics industries, solar industries, and household customers and distributes its products worldwide. It has operations spanning the Americas, the Middle East, Africa, Europe, and the Asia-Pacific region.
Headquarters: South Korea
LG Electronics Inc. (LG Electronics) manufactures and distributes consumer electronics and home appliances. The company’s product portfolio comprises televisions, monitors, laptops, refrigerators, audio and beauty appliances, video equipment, washing machines, dishwashers, water purifiers, air conditioners, and vacuum cleaners. It also offers vehicle components, information displays, substrates and materials, motor and sensor components, optical solutions, automotive components, and camera modules. The company provides its products under the LG, LG Signature, and LG ThinQ brands. It has a business presence across Europe, the Americas, the Middle East, Africa, and the Asia-Pacific region.
Headquarters: United States of America
Whirlpool Corp (Whirlpool) is a designer, manufacturer, and supplier of home and kitchen appliances. Its product portfolio includes laundry appliances, refrigerators and freezers, cooking appliances, dishwashers, mixers, washing machines, air conditioners, heating and cooling products, water filters, and other portable household appliances. The company markets its products under Whirlpool, Gladiator, Speed Queen, Roper, Ignis, Privileg, Ariston, Indesit, Bauknecht, Amana, Maytag, KitchenAid, Jenn-Air, Yummly, and Everydropwater brands. Whirlpool markets to retail and chain stores, distributors, and other manufacturers. The company has a presence in major countries worldwide.
Headquarters: United States of America
General Electric Co (GE Aerospace) is a manufacturer of aerospace products and services. The company offers a range of products, including commercial engines, military engines, mobility and marine engines, jet engines, power systems, avionics, turboprop engines, aeroengine mechanical transmissions, turbines, combustors, controls, propeller systems, ignition systems, sensors, and engine accessories. It also offers various services, including engine leasing, aircraft financing, maintenance, repair, engine overhauls, and the sale of spare parts. The company markets its products under Avio Aero, Unison, Dowty Propellers, and Colibrium Additive brand names. It serves a wide range of customers, including airframers, airlines, governments, and militaries. The company has a global business presence.
Midea Group’s primary strength in the microwave oven market lies in its technological innovation, large-scale manufacturing capability, and strong global brand presence. As one of the world’s largest home appliance producers, Midea benefits from economies of scale, enabling cost-efficient production without compromising quality. The company’s robust R&D investment drives continuous innovation, resulting in advanced features such as inverter technology, smart connectivity, and energy-efficient heating systems. Midea’s wide product portfolio, ranging from basic to high-end smart microwave ovens, allows it to cater to diverse market segments worldwide. Its extensive global distribution network and strategic partnerships with retailers strengthen its market accessibility and brand visibility. Furthermore, Midea’s focus on user-centric design and sustainability enhances customer satisfaction and loyalty. By combining affordability, innovation, and energy efficiency, Midea Group maintains a strong competitive position and continues to lead technological advancement in the global microwave oven industry.
Electrolux AB’s key strength in the microwave oven market stems from its premium brand reputation, product quality, and commitment to design excellence. Known for producing durable and high-performing appliances, Electrolux has established a strong global presence in both residential and commercial kitchen markets. The company’s strength lies in its innovation-driven approach, integrating smart cooking technologies, sensor-based automation, and sustainable energy efficiency into its microwave ovens. Electrolux emphasizes ergonomic design and user experience, combining modern aesthetics with functionality to meet evolving consumer preferences. Its robust global supply chain, strong retail relationships, and established customer trust reinforce its competitive edge. Moreover, Electrolux’s dedication to sustainability and eco-friendly manufacturing aligns with growing consumer demand for environmentally responsible appliances. Through innovation, reliability, and design leadership, Electrolux AB continues to set industry standards and maintain a strong foothold in the premium segment of the global microwave oven market.
KOKS Group B.V. is strongly committed to advancing sustainability through engineering innovation, environmental protection, and resource efficiency. The company’s sustainability goals are centered on developing eco-efficient vacuum and industrial cleaning equipment that minimizes emissions, energy usage, and waste generation. KOKS integrates sustainable design principles across its manufacturing processes - focusing on lightweight materials, durable construction, and fuel-efficient technologies that extend product lifespan and reduce carbon impact. The company also emphasizes circular economy practices, such as recycling components and reconditioning used equipment, to reduce material waste. Internally, KOKS promotes energy conservation, waste minimization, and employee safety within its operations. Additionally, the firm collaborates with global partners to drive environmental awareness and industrial sustainability initiatives. By merging technical excellence with eco-conscious innovation, KOKS Group aims to create cleaner, safer, and more sustainable industrial solutions - supporting both economic progress and global environmental stewardship.
A microwave oven is a kitchen appliance that utilizes electromagnetic radiation to quickly and efficiently heat and cook food. It operates by emitting microwaves, which are absorbed by water molecules in food, causing them to vibrate and generate heat. This unique cooking method allows for faster meal preparation compared to conventional ovens and stovetops.
The popularity of microwave ovens has surged globally since their introduction in the mid-20th century. They offer convenience for busy lifestyles, enabling people to heat leftovers, defrost meat, or cook meals in a fraction of the time. This has made them a staple in households, restaurants, and food service establishments alike.
In addition to speed, microwave ovens are praised for their energy efficiency; they consume less energy than traditional ovens. Their versatility has also expanded, with models now offering options such as grilling and convection cooking. With the rise of fast-paced living and an increased focus on time-saving solutions in cooking, the microwave oven remains an indispensable appliance in kitchens around the world. Its ability to adapt to diverse cooking needs continues to enhance its appeal and usage.
Top Microwave Oven Manufacturers
Illinois Tool Works Inc.
Founded: 1912Headquarters: United States of America
Illinois Tool Works Inc. (ITW) is a global manufacturer specializing in a diverse range of industrial products and equipment. The company's main activities include producing components and equipment for various sectors such as automotive, food service, electronics, welding, polymers, construction, and specialty products. ITW's major products include automotive components, commercial food equipment, test and measurement devices, welding equipment, adhesives, and construction fasteners. The company serves a wide array of industries, including automotive original equipment manufacturers, food service, electronics, construction, and general industrial markets. ITW distributes its products directly to industrial manufacturers and through independent distributors. The company operates globally, with facilities in numerous countries, including China, Germany, France, and the UK.
Sharp
Founded: 1912Headquarters: Japan
Sharp Corp (Sharp) designs, develops, manufactures, and sells telecommunications equipment, electric and electronic application equipment, and electronic components. The company’s major products include refrigerators, electric fans, dehumidifiers, electric heating equipment, superheated steam ovens, microwave ovens, air conditioners, washing machines, vacuum cleaners, air purifiers, plasma cluster ion generators, beauty and hairdressing equipment, led lighting, calculators, telephones, network control units, solar cells, sensor modules, optical devices, CMOS image sensors, etc. The company also offers digital multifunction printers, information displays, commercial projectors, POS system equipment, options, and consumables, as well as office-related solutions and services, along with software and computers. The company provides its products to original equipment manufacturers, electronics industries, solar industries, and household customers and distributes its products worldwide. It has operations spanning the Americas, the Middle East, Africa, Europe, and the Asia-Pacific region.
LG Electronics
Founded: 1958Headquarters: South Korea
LG Electronics Inc. (LG Electronics) manufactures and distributes consumer electronics and home appliances. The company’s product portfolio comprises televisions, monitors, laptops, refrigerators, audio and beauty appliances, video equipment, washing machines, dishwashers, water purifiers, air conditioners, and vacuum cleaners. It also offers vehicle components, information displays, substrates and materials, motor and sensor components, optical solutions, automotive components, and camera modules. The company provides its products under the LG, LG Signature, and LG ThinQ brands. It has a business presence across Europe, the Americas, the Middle East, Africa, and the Asia-Pacific region.
Whirlpool Corporation
Founded: 1911Headquarters: United States of America
Whirlpool Corp (Whirlpool) is a designer, manufacturer, and supplier of home and kitchen appliances. Its product portfolio includes laundry appliances, refrigerators and freezers, cooking appliances, dishwashers, mixers, washing machines, air conditioners, heating and cooling products, water filters, and other portable household appliances. The company markets its products under Whirlpool, Gladiator, Speed Queen, Roper, Ignis, Privileg, Ariston, Indesit, Bauknecht, Amana, Maytag, KitchenAid, Jenn-Air, Yummly, and Everydropwater brands. Whirlpool markets to retail and chain stores, distributors, and other manufacturers. The company has a presence in major countries worldwide.
GE Appliances
Founded: 1905Headquarters: United States of America
General Electric Co (GE Aerospace) is a manufacturer of aerospace products and services. The company offers a range of products, including commercial engines, military engines, mobility and marine engines, jet engines, power systems, avionics, turboprop engines, aeroengine mechanical transmissions, turbines, combustors, controls, propeller systems, ignition systems, sensors, and engine accessories. It also offers various services, including engine leasing, aircraft financing, maintenance, repair, engine overhauls, and the sale of spare parts. The company markets its products under Avio Aero, Unison, Dowty Propellers, and Colibrium Additive brand names. It serves a wide range of customers, including airframers, airlines, governments, and militaries. The company has a global business presence.
Product Launches in the Microwave Oven Market
Panasonic Corporation
February 2025 - Panasonic presents the NN-CD88 4-in-one Air Fry Convection Microwave Oven, designed to deliver the perfect crunch. Featuring an air fry function and a dedicated air fry basket, this oven ensures deliciously crispy and golden results. As a leader in innovative kitchen solutions, Panasonic has created this sleek, space-saving 34-litre combi oven to enhance your cooking experience and foster family mealtimes. It combines four essential cooking functions - microwave, oven, grill, and air fry - offering unmatched versatility.Samsung Electronics
Jan 2025, Samsung has introduced six new models of advanced and efficient microwave ovens, catering to both baking and grilling enthusiasts. The lineup includes three 28-liter convection microwave ovens (MC28AK, MC28VK, MC28VS), a 23-liter solo microwave oven (MS23AK), a 23-liter grill microwave oven (MG23AK), and a 21-liter convection microwave oven (CE76JD).SWOT Analysis of the Company
Midea Group
Strengths: Technological innovation, large-scale manufacturing capability, and strong global brand presenceMidea Group’s primary strength in the microwave oven market lies in its technological innovation, large-scale manufacturing capability, and strong global brand presence. As one of the world’s largest home appliance producers, Midea benefits from economies of scale, enabling cost-efficient production without compromising quality. The company’s robust R&D investment drives continuous innovation, resulting in advanced features such as inverter technology, smart connectivity, and energy-efficient heating systems. Midea’s wide product portfolio, ranging from basic to high-end smart microwave ovens, allows it to cater to diverse market segments worldwide. Its extensive global distribution network and strategic partnerships with retailers strengthen its market accessibility and brand visibility. Furthermore, Midea’s focus on user-centric design and sustainability enhances customer satisfaction and loyalty. By combining affordability, innovation, and energy efficiency, Midea Group maintains a strong competitive position and continues to lead technological advancement in the global microwave oven industry.
Electrolux AB
Strengths: Premium brand reputation, product quality, and commitment to design excellenceElectrolux AB’s key strength in the microwave oven market stems from its premium brand reputation, product quality, and commitment to design excellence. Known for producing durable and high-performing appliances, Electrolux has established a strong global presence in both residential and commercial kitchen markets. The company’s strength lies in its innovation-driven approach, integrating smart cooking technologies, sensor-based automation, and sustainable energy efficiency into its microwave ovens. Electrolux emphasizes ergonomic design and user experience, combining modern aesthetics with functionality to meet evolving consumer preferences. Its robust global supply chain, strong retail relationships, and established customer trust reinforce its competitive edge. Moreover, Electrolux’s dedication to sustainability and eco-friendly manufacturing aligns with growing consumer demand for environmentally responsible appliances. Through innovation, reliability, and design leadership, Electrolux AB continues to set industry standards and maintain a strong foothold in the premium segment of the global microwave oven market.
Recent Developments in the Microwave Oven Market
Bosch / BSH Hausgeräte
June 2025: BSH Home Appliances Pvt. Ltd., a subsidiary of BSH Hausgeräte GmbH and a global leader in premium home appliances, has announced the opening of its first Siemens Brand Store in Coimbatore, Tamil Nadu. Located on TV Swamy Road (East) in R.S. Puram, this store offers more than just a retail experience; it serves as a gateway to the future of connected, intelligent living. Designed to meet Siemens’ global Retail Excellence standards, the new store represents a strategic expansion in response to increasing demand in South India, a region where the brand has achieved over 30% growth and continues to demonstrate strong double-digit momentum.Haier Group
October 2024, Haier Smart Home Co., Ltd has successfully acquired Carrier Commercial Refrigeration from Carrier Global Corporation for approximately $775 million. This acquisition strengthens Haier's product portfolio and enhances its strategic position in the global commercial refrigeration market, while also promoting environmental improvements through advanced technologies like carbon dioxide solutions.Sustainability Goal
Galanz Group (Guangdong Galanz Enterprises)KOKS Group B.V. is strongly committed to advancing sustainability through engineering innovation, environmental protection, and resource efficiency. The company’s sustainability goals are centered on developing eco-efficient vacuum and industrial cleaning equipment that minimizes emissions, energy usage, and waste generation. KOKS integrates sustainable design principles across its manufacturing processes - focusing on lightweight materials, durable construction, and fuel-efficient technologies that extend product lifespan and reduce carbon impact. The company also emphasizes circular economy practices, such as recycling components and reconditioning used equipment, to reduce material waste. Internally, KOKS promotes energy conservation, waste minimization, and employee safety within its operations. Additionally, the firm collaborates with global partners to drive environmental awareness and industrial sustainability initiatives. By merging technical excellence with eco-conscious innovation, KOKS Group aims to create cleaner, safer, and more sustainable industrial solutions - supporting both economic progress and global environmental stewardship.
Breville Group
Breville Group’s sustainability goals focus on creating a smarter, more responsible consumer appliance ecosystem through innovation, ethical sourcing, and environmental accountability. The company is dedicated to reducing its carbon footprint, improving energy efficiency, and transitioning to sustainable materials across its product portfolio. Breville incorporates eco-conscious design principles, aiming to extend product lifespan, minimize waste, and promote recyclability. The group is actively working toward reducing packaging waste by introducing recyclable, compostable, and plastic-free solutions. Breville’s operations also prioritize renewable energy adoption and responsible supply chain management, ensuring fair labor and ethical sourcing practices globally. Moreover, the company aligns its sustainability strategy with global climate goals, including the reduction of greenhouse gas emissions and the promotion of circular economy principles. By combining cutting-edge innovation with environmental and social responsibility, Breville Group demonstrates its commitment to designing premium appliances that enhance modern living while supporting a sustainable future.Market Segmentation
Microwave Oven Market
- Historical Trends
- Forecast Analysis
Market Share Analysis - Microwave Oven Market
Illinois Tool Works Inc
Overview
- Company History and Mission
- Business Model and Operations
Workforce
Key Persons
- Executive Leadership
- Operational Management
- Division Leaders
- Board Composition
Recent Development & Strategies
- Mergers & Acquisitions
- Partnerships
- Investments
Sustainability Analysis
- Renewable Energy Adoption
- Energy-Efficient Infrastructure
- Use of Sustainable Packaging Materials
- Water Usage and Conservation Strategies
- Waste Management and Circular Economy Initiatives
Product Analysis
- Product Profile
- Quality Standards
- Product Pipeline
- Product Benchmarking
Strategic Assessment: SWOT Analysis
- Strengths
- Weaknesses
- Opportunities
- Threats
Revenue Analysis
The above information will be available for all the following companies:
- Illinois Tool Works Inc
- Sharp
- LG Electronics
- Whirlpool Corporation
- GE Appliances
- Panasonic Corporation
- Samsung Electronics
- Midea Group
- Electrolux AB
- Bosch / BSH Hausgeräte
- Galanz Group (Guangdong Galanz Enterprises)
- Haier Group
- Breville Group
- Smeg S.p.A.
- Candy Hoover Group
Table of Contents
1. Microwave Oven Market
3. Illinois Tool Works Inc.
The above information will be available for all the following companies:
Companies Mentioned
- Illinois Tool Works Inc
- Sharp
- LG Electronics
- Whirlpool Corporation
- GE Appliances
- Panasonic Corporation
- Samsung Electronics
- Midea Group
- Electrolux AB
- Bosch / BSH Hausgeräte
- Galanz Group (Guangdong Galanz Enterprises)
- Haier Group
- Breville Group
- Smeg S.p.A.
- Candy Hoover Group
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | December 2025 |
| Forecast Period | 2025 - 2033 |
| Estimated Market Value ( USD | $ 11.8 Billion |
| Forecasted Market Value ( USD | $ 16.13 Billion |
| Compound Annual Growth Rate | 3.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
