Microwave Oven Market Is Anticipated to Attain Around $12.70 Billion By 2022 by sarawhite593 · June 20 Cheap Allen Iverson Jersey , 2019
San Francisco, 20 June 2019 鈥?鈥淢icrowave Oven Market Size, Share & Trends Analysis Report By Product (Convection, Grill, Solo), By Application (Commercial, Household), By Structure (Built-in Cheap Moses Malone Jersey , Counter top), By Region, And Segment Forecasts, [2012 鈥?2022]鈥?p>
The global聽microwave oven market聽size is anticipated to reach USD 12.70 billion by 2022, according to a new report by Grand View Research, Inc., rising at a CAGR of 2.8% during the forecast period. Improving standard of living of consumers, growing number of nuclear families Wholesale Philadelphia 76ers Jerseys , and increasing demand for frozen and ready-to-eat food are some of the key factors stimulating market growth.
Growing number of working women and preoccupied schedule of people in urban cities are likely to fuel the demand for ovens. A large part of new households comprises working singles who prefer to dine out rather than setting up their kitchen. This may be a drawback for the residential appliance market. However, this trend is estimated to boost the culture of quick service restaurants, cafes, and small eateries, which in turn will work in favor of the market.
Robust growth of the hospitality sector and rising catering contracts for large-scale functions, seminars, and other social gatherings are also expected to stir up the demand for commercial appliances over the forecast period. In case of the residential application segment, the most significant driver is the changing lifestyles and food consumption preferences of people Wholesale 76ers Jerseys , with more consumers shifting towards ready-to-eat and frozen food.
Macroeconomic factors such as growing population, rising disposable income of consumers, and increasing awareness of different cooking media such as microwave oven, grills, and barbeques are projected to impact the market positively.
To request a sample copy or view summary of this report, click the link below: Further key findings from the report suggest:
The convection segment is poised to account for half of the overall market value by 2022 The grill microwave oven market is anticipated to be valued at around USD 4.50 billion by 2022 In 2016, North America was the leading revenue contributor in the market, with a valuation of around USD 3.5 billion The household application segment accounted for a larger revenue share in 2016 and is likely to expand at a CAGR of around 3.0% over the forecast period The key players in the market include Robert Bosch GmbH Cheap Philadelphia 76ers Jerseys , Haier Group Corporation, Hobart, Hamilton Beach, Middleby Corporation Company, Whirlpool Corporation, and Sharp Corporation. View more reports of this category by Grand View Research at Grand View Research has segmented the global microwave oven market into product, application, structure Cheap 76ers Jerseys , and region. Microwave Oven Product Outlook (Revenue, USD Billion, 2012 – 2022)
Convection Grill Solo Microwave Oven Application Outlook (Revenue, USD Billion, 2012 – 2022)
North America Europe Asia Pacific Rest of the World (RoW) Browse Press Release of this Report: About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The聽company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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