Market Insights Consumer Household Appliances Small Appliances

Microwave Ovens - Montenegro

Montenegro

The revenue in Montenegro's Microwave Ovens market is projected to reach US$1.22m in 2024.
It is anticipated that the market will grow annually at a rate of 0.96% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue of US$1,998m in 2024.
In terms of per household revenues in Montenegro, it is estimated that each household will generate US$6.44 in 2024.
Looking ahead, the volume in Montenegro's Microwave Ovens market is expected to reach 11.3k pieces units by 2029.
Furthermore, there is an expected volume growth of 0.8% in 2025.
The average volume per household in Montenegro's Microwave Ovens market is projected to be 0.06pieces units in 2024.
Montenegro's microwave oven market is experiencing a surge in demand due to the growing popularity of fast and convenient cooking options among its urban population.

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.