Europe Microwave Oven Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.84 Billion |
| Market Size (2029) | USD 3.5 Billion |
| CAGR (2024 - 2029) | 4.25 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Microwave Oven Market Analysis
The Europe Microwave Oven Market size is estimated at USD 2.84 billion in 2024, and is expected to reach USD 3.5 billion by 2029, growing at a CAGR of 4.25% during the forecast period (2024-2029).
Due to evolving consumer lifestyles, rising disposable incomes, and technological improvements, the microwave oven market in Europe has experienced significant expansion in recent years. With its ease of use and effectiveness in food preparation, microwave ovens have become a necessary kitchen tool. Given that appliances like microwave ovens handle most of the food preparation in the region, European consumers demand high efficiency from electronic cooking systems.
Technological developments in microwave ovens have resulted in models featuring grill and convection functions. This broadens the range of culinary options and clarifies the myth that microwave ovens are only for reheating food. Users can now bake, roast, and grill. Traditional microwaves heat food unevenly using an on/off cycle to control power. Inverter technology makes continuous power flow possible, resulting in more accurate and reliable cooking. High-end microwave models are increasingly using this innovation. Sensor cooking technology can automatically adjust cooking periods and power levels by using sensors to measure moisture content and oven temperature. This guarantees the best outcomes, especially when heating up or preparing delicate dishes.
Europe Microwave Oven Market Trends
Germany Dominates the Market
Germany has one of the strongest economies in the world and the largest economy in Europe. Because of its strong economic performance, customers have comparatively large disposable incomes, which may encourage them to spend more on home goods like microwaves. Germany, with a population of almost 83 million, is the most populous nation in the European Union. As the population increases, a higher demand for household products such as microwave ovens will naturally increase. A sizable fraction of the population of Germany lives in cities and metropolitan areas, contributing to the country's high rate of urbanization. Due to busy lifestyles, convenience-driven devices like microwave ovens are highly desired in urban areas, mirroring numerous other developed countries.
The lifestyles of Germans have changed, with time limitations from work and other obligations becoming more prominent. Microwave ovens are a popular household appliance because they offer a quick and efficient way to cook or reheat food. In Germany, various appliance merchants can be found, including department stores, internet marketplaces, and specialty kitchen appliance stores. A wide range of microwave oven options, reasonable pricing, and ongoing promotions are all made easily accessible to customers by this widespread retail presence. Many microwave oven manufacturers in Europe use Germany as their main export hub. As a result, German-made appliances are often found in neighboring European countries, thus increasing Germany's market share in Europe.
Convection Microwave Ovens Lead the Market
Microwave ovens with convection provide greater cooking flexibility. They incorporate a convection oven, occasionally a grill element, and the functions of a standard microwave oven. Due to their adaptability, users can cook a variety of foods with the equipment, such as baking, grilling, roasting, and defrosting. Consumers who desire a single appliance that can accomplish several cooking chores find convection microwave ovens appealing. In addition to its microwave technology, convection microwave ovens can cook food faster than conventional ovens. Busy customers who want to prepare meals quickly may find this time-saving feature appealing. Convection microwave ovens frequently use less energy compared to conventional ovens.
Energy efficiency can be a selling point in regions where energy conservation is a priority. Convection microwave ovens are usually smaller than conventional ovens and require less counter space. This space-saving feature is crucial given the sometimes limited space in European kitchens. Convection microwave ovens are easy to operate and suitable for a variety of cooking abilities due to their preset features and range of cooking options. Customers can easily select the ideal cooking setting, whether baking, roasting, or heating.
Europe Microwave Oven Industry Overview
The European microwave oven market is fragmented, with many players vying for dominance. Leading companies employ diverse strategies, such as product launches and acquisitions, to bolster market share. The report delves into the competitive landscape, highlighting major players like Siemens, Samsung, Whirlpool, Haier, and Panasonic.
Europe Microwave Oven Market Leaders
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Siemens
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Samsung
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Whirlpool
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Panasonic
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Haier
*Disclaimer: Major Players sorted in no particular order
Europe Microwave Oven Market News
- January 2024: Samsung announced that it would accelerate the competitiveness of its businesses, which would contribute to carbon neutrality (decarbonization). It will launch a power supply and demand management demonstration project in 2024 at Panasonic Manufacturing UK Ltd, a manufacturer and seller of microwave ovens and other products.
- June 2023: Panasonic introduced its new smart inverter countertop microwave oven that runs on voice commands and has manual controls such as dedicated turbo defrost, popcorn, and quick 30 buttons for rapid access.
Europe Microwave Oven Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Demand for Smart Kitchen Appliances
4.3 Market Restraints
4.3.1 High Energy Consumption
4.3.2 Price Sensitivity Among Price-conscious Consumers
4.4 Market Opportunities
4.4.1 Integration of Advanced Features and Technologies, Such as loT Connectivity
4.4.2 Introduction of Eco-friendly Microwave Ovens with Energy-Saving Features
4.5 Value Chain Analysis
4.6 Industry Attractiveness: Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights into Technological Advancements in the Industry
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Grill
5.1.2 Solo
5.1.3 Convection
5.2 By Distribution Channel
5.2.1 Retail Stores
5.2.2 Speciality Stores
5.2.3 Online Stores
5.2.4 Other Distribution Channels
5.3 By Application
5.3.1 Residential
5.3.2 Commercial
5.4 By Country
5.4.1 United Kingdom
5.4.2 France
5.4.3 Italy
5.4.4 Germany
5.4.5 Spain
5.4.6 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Siemens
6.2.2 Whirlpool
6.2.3 LG
6.2.4 Haier
6.2.5 Panasonic
6.2.6 Midea
6.2.7 Filtronic PLC
6.2.8 MKS Instruments
6.2.9 AB Electrolux
6.2.10 Sharp Corporation*
- *List Not Exhaustive
7. FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Europe Microwave Oven Industry Segmentation
Microwave ovens use electromagnetic radiation in the microwave frequency range to heat and cook food. The European microwave oven market is segmented by type, end user, distribution channel, and country. By type, the market is segmented into grill, solo, and convection. By end user, the market is segmented into residential and commercial. By distribution channel, the market is segmented into retail stores, specialty stores, online stores, and others. By country, the market is segmented into the United Kingdom, France, Italy, Germany, Spain, and the Rest of Europe. The report offers market size and forecasts for the European microwave oven market in value (USD) for all the above segments.
| By Type | |
| Grill | |
| Solo | |
| Convection |
| By Distribution Channel | |
| Retail Stores | |
| Speciality Stores | |
| Online Stores | |
| Other Distribution Channels |
| By Application | |
| Residential | |
| Commercial |
| By Country | |
| United Kingdom | |
| France | |
| Italy | |
| Germany | |
| Spain | |
| Rest of Europe |
Europe Microwave Oven Market Research FAQs
How big is the Europe Microwave Oven Market?
The Europe Microwave Oven Market size is expected to reach USD 2.84 billion in 2024 and grow at a CAGR of 4.25% to reach USD 3.5 billion by 2029.
What is the current Europe Microwave Oven Market size?
In 2024, the Europe Microwave Oven Market size is expected to reach USD 2.84 billion.
Who are the key players in Europe Microwave Oven Market?
Siemens, Samsung, Whirlpool, Panasonic and Haier are the major companies operating in the Europe Microwave Oven Market.
What years does this Europe Microwave Oven Market cover, and what was the market size in 2023?
In 2023, the Europe Microwave Oven Market size was estimated at USD 2.72 billion. The report covers the Europe Microwave Oven Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Europe Microwave Oven Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Microwave Oven Industry Report
Statistics for the 2024 Europe Microwave Oven market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Microwave Oven analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
