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The increasing demand for frozen and ready-to-eat food owing to busy lifestyles are expected to drive innovation in microwave ovens manufacturing, thus driving the market during the forecast period.

The global microwave ovens market is expected to grow from $45.07 billion in 2022 to $47.08 billion in 2023 at a compound annual growth rate (CAGR) of 4.5%. The global microwave ovens market size is expected to grow to $53.16 billion in 2027 at a CAGR of 3.1%.

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Global Microwave Ovens Market Segments Include:

• By Product:Grill, Solo, Convection
• By Application:Commercial, Household
• By Structure: Counter Top, Built-In
• By Distribution Channel:Specialty Stores, Supermarkets/Hypermarkets, Online Channel, Other Distribution Channels
• By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global microwave ovens market in 2021.

Major Market Players in the microwave ovens market include Sharp Corporation, LG Electronics Inc., Electrolux AB, Alto-Shaam Inc., Panasonic Corporation, Samsung Electronics, Dongbu Daewoo Electronics.

Companies in the household cooking appliance market are increasingly launching technologically advanced multi-functional ovens to cater to the rising demand for multi-functional appliances with additional benefits. These multi-functional ovens use a wide range of methods to provide customized and easy cooking. These ovens use devices to guide and instruct users in the process of cooking. Apart from these, they also come with catalytic and pyrolytic self-cleaning functions. The catalytic self-cleaning feature allows the use of special chemically installed liners to absorb grease, while the pyrolytic self-cleaning function of these ovens allows them to clean the dirt and grease using high temperatures. For instance, Electrolux’s EOY5851AAX oven uses different programs and functions to make the cooking process easy and customized. It has pyrolytic cleaning technology that allows self-cleaning.

The Microwave Ovens Global Market Report 2023  provides a microwave ovens market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The microwave ovens market forecast analyzes microwave ovens market size, microwave ovens market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Microwave ovens are defined as devices that cook food by exposing it to electromagnetic radiation in the microwave frequency range.

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