Published on : Aug 11, 2016
A microwave is an electrical appliance, used extensively in hotels and kitchens to cook and heat food. Microwave ovens comprise electromagnetic radiations that are used in the microwave spectrum in order to heat food. With this the food kept inside the microwave oven can be heated very fast and efficiently. The global market for microwave ovens can be classified on the basis of its components into glass turntable, display panels, and heating chamber and vents.
Hectic Lifestyle among Population to Boost Demand for Microwave Ovens in Near Future
The global microwave oven market has been gaining traction in the last few years, owing to the hectic lifestyle and rising disposable income among the population in developing nations. Furthermore, the rising popularity of smart appliances and smart kitchen is another factor expected to accelerate the growth of the market in the coming few years.
Analyzing the growth prospects of the global microwave oven market, several players are making efforts to enter the market and expand their product catalogue in the next few years. As a result, several new players are also estimated to participate in the market and gain the competitive advantage in the coming few years. These players are spending an extensive amount on marketing activities and advertising campaigns in order to boost their sales figures and attain the leading position in the market. In addition, these players are focusing on developing innovative products to attract new consumers in the next few years.
Attractive Marketing Schemes to Augment Growth of Global Microwave Oven Market
Some of the leading players engaged in the global market for microwave ovens are Kenwood Limited, GE Appliances, Bonnet International, Samsung Electronics Co Ltd., Sharp Corporation, Maytag Corporation, Manitowoc Foodservice, Alto-Shaam, Inc., Hoover Limited, Panasonic Corporation, Bakers Pride Oven Co. Inc., Frigidaire, Vulcan-Hart, LG Electronics, Inc., and Electrolux AB.
These players are focusing on offering additional features in the microwave ovens along with an innovative visual appearance of the product. The leading companies are also spending on developing attractive schemes to attract large number of consumers and drive the overall market in the next few years.