Market Size of Egypt Microwave Ovens Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 97.14 Million |
| Market Size (2029) | USD 138.99 Million |
| CAGR (2024 - 2029) | 7.43 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Egypt Microwave Ovens Market Analysis
The Egypt Microwave Ovens Market size is estimated at USD 97.14 million in 2024, and is expected to reach USD 138.99 million by 2029, growing at a CAGR of 7.43% during the forecast period (2024-2029).
Egypt's microwave oven market has been experiencing significant growth over the past years, and a similar trend is forecasted to continue in the coming years. The rising population along with the increased standard of living are the primary reasons contributing to the rising demand for microwave ovens in Egypt. The GDP per capita has increased 34.9% in the last ten years in Egypt, with higher disposable income for the people living in Tier I and Tier II cities of the country have enabled the consumers to invest in their household appliance requirements.
On account of Covid-19, the unemployment rate in Egypt increased to 9.6% during Q2, 2020, and accordingly, average annual headline urban inflation recorded 5% during the year 2020, compared to 9.2% in 2019, marking the lowest rate recorded since 2005. The increasing unemployment rate affected the purchasing power of the common man resulting in low sales of microwaves in the country.
The rising urban population that accounts for about 42.7% of the total population in 2020 would also foster the growth of the microwave market during the forecast period. The growing аwаrеnеѕѕ regarding the usage of microwaves among individuals from the middle and lоwеr-middle іnсоmе segment, particularly іn urbаn аrеаѕ, соuрlеd with improving living standards аrе ѕоmе оf the fасtоrѕ ехресtеd tо сrеаtе potential rеvеnuе opportunities fоr рlауеrs ореrаtіng іn microwave market.
Egypt Microwave Ovens Industry Segmentation
A complete background analysis of the Egypt microwave market, which includes an assessment of the National accounts, economy, and emerging market trends by segments, significant changes in the market dynamics, and the market overview is covered in the report. Egypt Microwave Ovens Market is segmented by Types (Conventional, Solo, Grill), Applications (Residential, Commercial), and by Structure (Countertop, Built-in).
| By Types | |
| Conventional | |
| Grill | |
| Solo |
| By Applications | |
| Residential | |
| Commercial |
| By Structure | |
| Builtin | |
| Countertop |
Egypt Microwave Ovens Market Size Summary
The Egypt microwave ovens market is poised for substantial growth, driven by an increasing population and rising living standards. The demand for microwave ovens is bolstered by the growing urban population, which constitutes a significant portion of the country's demographic. Urban residents, particularly in Tier I and Tier II cities, are more inclined to invest in household appliances due to higher disposable incomes and a busy lifestyle that necessitates quick cooking solutions. The market is also witnessing a shift in consumer awareness, with individuals from middle and lower-middle-income segments becoming more informed about the benefits of microwave usage. This trend is expected to create lucrative opportunities for market players, as technological innovations continue to cater to diverse consumer needs.
The competitive landscape of the Egyptian microwave ovens market is characterized by the presence of major international players such as LG, Samsung, and Toshiba, who dominate the market share. The countertop segment is leading in terms of revenue, attributed to its lower maintenance costs and affordability compared to built-in microwave ovens. The preference for countertop models is particularly strong in the residential sector, where cost-effectiveness and ease of installation are key considerations. The market's growth trajectory is further supported by strategic developments and product innovations, such as LG's integration of advanced cooking technologies and Samsung's introduction of multifunctional kitchen appliances. These advancements are set to enhance the consumer experience and drive the adoption of microwave ovens across Egypt.
Egypt Microwave Ovens Market Size - Table of Contents
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1. MARKET DYNAMICS AND INSIGHTS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Insights on impact of technology and innovation in Operation in Microwave Market
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1.5 Insights on Performance of Microwave Manufacturers in Egypt
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1.6 Industry Attractiveness - Porter's Five Forces Analysis
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1.6.1 Threat of New Entrants
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1.6.2 Bargaining Power of Buyers
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1.6.3 Bargaining Power of Suppliers
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1.6.4 Threat of Substitutes
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1.6.5 Intensity of Competitive Rivalry
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1.7 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Types
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2.1.1 Conventional
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2.1.2 Grill
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2.1.3 Solo
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2.2 By Applications
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2.2.1 Residential
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2.2.2 Commercial
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2.3 By Structure
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2.3.1 Builtin
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2.3.2 Countertop
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Egypt Microwave Ovens Market Size FAQs
How big is the Egypt Microwave Ovens Market?
The Egypt Microwave Ovens Market size is expected to reach USD 97.14 million in 2024 and grow at a CAGR of 7.43% to reach USD 138.99 million by 2029.
What is the current Egypt Microwave Ovens Market size?
In 2024, the Egypt Microwave Ovens Market size is expected to reach USD 97.14 million.
