Global Solo Microwave Market Will Generate Record Revenue by 2028

The global solo microwave market is anticipated to grow at a CAGR of 2.6% during the forecast period (2022-2028). The global solo microwave market is growing due to the increasing disposable income in emerging economies and the rise in urbanization. The increasing consumer expenditure on appliances that assist them in kitchen work is also anticipated to boost the growth of the market. The changing lifestyle of the consumer and the demand for stylish and convenient appliances that complement their living standards is also driving the growth of the solo microwave market. The rising demand for energy-efficient appliances that help in kitchen work and the rise in demand for smart appliances are factors that are considered for the growth of the market. The rising demand of consumers to use technologically advanced equipment that is multipurpose and hassle-free and supports them to manage their kitchen chores is driving the demand for the solo microwave market. The increasing adoption of technology-driven premium kitchen appliances and smart kitchen appliances is propelling the growth of the market. Additionally, increasing investment by the major market players for research and development of new and innovative energy-efficient microwave ovens that consume less energy for cooking food faster and efficiently is anticipated to drive the growth of the market.

Some major players in the market include AB Electrolux, Alto-Shaam, Inc., Candy Hoover Group S.r.l., Galanz Enterprise Group Co., Ltd., Illinois Tool Works Inc., LG Electronics, and SAMSUNG, among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance,

• In October 2019, Haier Group announced the launch of a new range of microwave ovens Convection (HIL2501CBSH) and Solo (HIL2001MWPH) in the Indian market.

Market Coverage                                                                            

• The market number available for – 2022-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape-Candy Hoover Group S.r.l., Illinois Tool Works Inc., Alto-Shaam, Inc., LG Electronics, SAMSUNG, Galanz Enterprise Group Co., Ltd., and AB Electrolux among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Solo Microwave Market Report by Segment

By Type

• < 22 L
• 22 – 25 L
• > 25 L

By Application

• Commercial
• Residential
• Others