Published on : May 18, 2016
A microwave oven refers to an appliance that is used in the kitchen for heating food. The microwave oven makes use of electromagnetic radiation in the microwave spectrum to heat food. A microwave oven heats food very quickly and efficiently. The hectic lifestyle of people is one of the major factors boosting the use of microwave oven across the globe. The increasing popularity for smart kitchen and smart appliances is another factor augmenting the growth of overall microwave ovens market.
Microwave ovens are categorized on the basis of its components into:
- Glass Turntable
- Heating Chamber and Vents
- Display Panels
The growing popularity of microwavable food (a type of food that can be heated by making use of microwave ovens) is augmenting the sales of microwave ovens across the globe. In addition, the developing home and kitchen appliances market is further creating potential growth opportunities for the major players operating in the overall market. Moreover, the economic development in emerging nations, improving living standard, and growing disposable income among the population are some of the other factors expected to fuel the growth of the global microwave ovens market in the next few years.
Increasing Marketing Activities to Drive Global Microwave Oven Market in Near Future
The substantial growth of the global market for microwave oven has attracted several players to step into the market and gain the competitive advantage. The leading players operating in the market are spending an enormous amount on research and development activities in order to introduce new features in the microwave ovens and attract new consumers. Some of the prominent players are Bonnet International, Kenwood Limited, Electrolux AB, Vulcan-Hart, Bakers Pride Oven Co. Inc., Alto-Shaam, Inc., Hoover Limited, Sharp Corporation, GE Appliances, LG Electronics, Inc., Manitowoc Foodservice, Maytag Corporation, Frigidaire, Panasonic Corporation, and Samsung Electronics Co Ltd.
These players are emphasizing on the additional features they are ready to offer to the consumers along with the visual appearance of the product. The prominent companies are also spending on marketing activities and developing innovative and attractive schemes in order to attract consumers and boost the sales figures in the next few years.