Market Insights Consumer Household Appliances Small Appliances

Microwave Ovens - G7

In 2024, the revenue generated in the Microwave Ovens market is a substantial US$4.06bn.
According to projections, this market is expected to experience an annual growth rate of 4.25% from 2024 to 2029 (CAGR 2024-2029).
When considering global comparison, in the United States stands out as the top revenue generator in the Microwave Ovens market, with an estimated revenue of US$1,998m in 2024.
In terms of per household revenues, the Microwave Ovens market is predicted to generate US$12.45 per household in 2024.
Looking ahead to 2029, the volume in the Microwave Ovens market is projected to reach 31.9m pieces units.
Additionally, a slight volume growth of 2.0% is expected in 2025.
On average, each household is anticipated to have a volume of 0.09pieces units in the Microwave Ovens market in 2024.
These figures provide valuable insights into the market performance of the Microwave Ovens market, particularly in the context of the G7 country.
In the United States, the trend in the microwave oven market is a growing demand for smart features and sleek designs.

Key regions: Worldwide, Germany, India, United Kingdom, Japan

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on Household Appliances.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global Survey), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as number of households, consumer spending, and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques, such as exponential trend smoothing, for instance. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Survey data is reweighted for representativeness.