The global microwave oven market is projected to grow to $72.5 million by the year 2015 mainly driven by the replacement demand, niche product development and re-establishment of old product line in developed markets of America and Europe. Increasing income levels and growing living standards are influencing the growth of this market across the developing markets of Asia and Eastern Europe. Due to the increasing need of luxury gadgets, microwave ovens are becoming an essential part of modern and well furnished kitchen. Number of technological developments and improvements in design technology is making microwave ovens common in every household, thus contributing to the overall market growth.
Decrease in costs of microwave ovens due to increasing competition is encouraging the sale of more number of ovens, even in rural areas. Europe and Asia Pacific are currently dominating markets for microwave ovens while China is the fastest growing market across Asia Pacific. High incomes and sense of modern civilization depending on consumerism are expected to sustain the demand for modern generation products.
This research report analyzes this market based on its market segments and major geographies. Geographies analyzed under this research study are
- North America
- Asia Pacific
- Rest of the World
This research report provides complete analysis of
- Major market segments
- Current market trends
- Factors driving market growth
- Industry structure
- Market projections for upcoming years
This report also provides analysis of technological improvements in this industry, Porter’s five force model analysis, and complete company profiles of top market players. It provides review of micro and macro factors significant for existing market players and new entrants along with detailed value chain analysis.
Some of the key players dominating this market are Galanz Group, Haier Group, LG Group, Midea Group, Ningbo Fotile Kitchenware Co. Ltd., Panasonic Corporation of China, Siemens (China) Co. Ltd., Sharp Corporation, and others.
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- This research report provides overview of major market forces responsible for driving and limiting market growth
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- It provides distinctive graphics and exemplified SWOT analysis of major market segments
- It provides clear understanding of key product segments and competitive environment
- It provides complete analysis of major competitors and their strategies