PUBLISHER: Renub Research | PRODUCT CODE: 1484124
PUBLISHER: Renub Research | PRODUCT CODE: 1484124
Europe Microwave Oven Market Report by Type (Grill, Solo, and Convection), Application (Commercial and Household), Structure (Built-In and Counter Top), Distribution Channel (Online and Offline), Country and Company Analysis 2024-2032
Europe Microwave Oven Market was worth US$ 3.00 Billion in 2023. It is expected to grow at a CAGR of 3.62% from 2024 to 2032 and be valued at US$ 4.13 Billion by 2032.
Microwave ovens are fundamental European kitchen appliances because of their efficiency and convenience. These compact gadgets use microwave radiation to quickly and lightly warm meals, making them perfect for busy families and culinary lovers. Their recognition stems from their potential to defrost, cook, and reheat diverse dishes in a fragment of the time required by conventional ovens. With the quick-paced lifestyle usual in Europe, microwave ovens provide a time-saving food preparation solution without compromising taste or nutritional value. Their vast adoption highlights their importance as a staple equipment in present-day European kitchens.
Europe Microwave Oven Market Trends
- Expansion in the market due to evolving consumer lifestyles
The Europe microwave oven market is growing because of changing client lifestyles. This favors convenient cooking solutions in fast-paced routines. Eurostat reports that in 2022, the employment rates throughout all EU Member States surpassed those of 2021. Specifically, the employment rate for men in the EU stood at 80.0%, while for women, it became 69.3%. Among EU Member States, employment rates in 2022 increased from 82.9% in the Netherlands to 64.8% in Italy. As working professionals and busy households grow, microwaves depend more on simplifying food preparation. Microwave ovens have become critical in European kitchens as convenience becomes a concern in shopping selections.
- Increasing disposable incomes and heightened focus on home cooking
The rising disposable earnings and growing attention on home cooking propel the Europe microwave oven market. In 2023, two-thirds of the world's most wealthy nations were in Europe, per the Legatum Prosperity Index. The European Commission states that household gross disposable income accelerated by 0.9% within the euro location and 1.0% within the EU for the third quarter of 2023. This is mainly due to a vast, high-quality contribution from employee reimbursement. This income growth enables consumers to invest in contemporary kitchen home equipment like microwave ovens. The trend in domestic cooking, spurred by health focus and cost-saving measures, also boosts microwave oven use. This is important for busy households and home cooks, reflecting a broader cultural shift towards valuing time at home and flexible kitchen appliances.
- Technological advancements
The European microwave oven market is flourishing due to technological advancements. This is mainly smart capabilities and connectivity options, reshaping conventional models for more desirable functionality and comfort. Remote control via mobile apps or voice assistants gives flexibility and efficiency in food preparation. At the same time, seamless integration with different smart home gadgets streamlines cooking experiences as clients seek appliances aligning with their linked lifestyles. Demand for advanced microwave ovens grows, fueling market expansion. For instance, in 2023, Huawei unveiled its next-generation MAGICSwave microwave at the Mobile World Congress, showcasing cross-generational innovations for simplified target networks. This has optimized the overall ownership cost and smoothed the transport network's evolution.
Household segment may take precedence in the Europe microwave oven market
The household sector could dominate the Europe microwave oven market. This is due to its considerable adoption in the home for cooking, reheating, and defrosting functions. Microwave ovens provide comfort, time-saving advantages, and versatility, making them essential kitchen and home equipment for nearby families.
Germany microwave oven market
The microwave oven market in Germany is experiencing a remarkable boom. Busy lifestyles and the demand for quick food are critical drivers in the increase of the German microwave oven market. Microwaves excel at reheating leftovers, defrosting food, and preparing simple meals, aligning flawlessly with cutting-edge German living. Efficiency is noticeably valued among Germans, and microwaves provide a significant time-saving benefit in the kitchen. They also contribute to their vast adoption and popularity in households nationwide.
In the Germany microwave oven market, energy-saving capabilities are essential. This is resonating with sustainability-centered clients. Compact trends like Kuppersbusch's Graphite Line, released in July 2023, offer multifunctionality with microwave, grill, and mixed functions, ideal for smaller kitchens. These microwaves boast five output levels, 14 pre-set programs, and an automatic defrost and weight system. Sustainable practices, including microwave-secure reusable bins, also meet eco-conscious needs. This is aiding the market in increasing eco-friendly answers and better capability.
Europe Microwave Oven Market News
Illinois Tool Works Inc, Sharp, LG Electronics, Whirlpool Corporation, GE Appliances, Panasonic Corporation, Samsung Electronics, and Midea Group are the critical players in the Europe microwave oven market.
In November 2023 - Panasonic Corporation announced its plans to launch a power supply and demand management demonstration project in 2024 at Panasonic Manufacturing UK Ltd., a manufacturer and seller of microwave ovens and other products. The project will utilize pure hydrogen fuel cells and photovoltaic generators for in-house power generation.
In October 2023 - Under the EU Merger Regulation, the European Commission has sanctioned the acquisition of total authority over Whirlpool Corporation's principal domestic appliances business in Europe, the Middle East, and Africa by Turkey's Arcelik A.S.
In August 2023 - At IFA 2023, LG Electronics (LG) plans to unveil a comprehensive built-in kitchen package that promises to enhance culinary experiences for everyone. The lineup includes an InstaView(TM) oven, QuadWash(TM) dishwasher, downdraft induction hob, bottom-freezer refrigerator, and microwave oven, all featuring energy-efficient designs, user-friendly interfaces, and elegant aesthetics.
Type - Market breakup in 3 viewpoints:
1. Grill
2. Solo
3. Convection
Application - Market breakup in 2 viewpoints:
1. Commercial
2. Household
Structure - Market breakup in 2 viewpoints:
1. Built-In
2. Counter Top
Distribution Channel - Market breakup in 2 viewpoints:
1. Online
2. Offline
Country - Market breakup in 9 viewpoints:
1. France
2. Germany
3. Italy
4. Spain
5. United Kingdom
6. Belgium
7. Netherlands
8. Turkey
9. Rest of Europe
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. Illinois Tool Works Inc
2. Sharp
3. LG Electronics
4. Whirlpool Corporation
5. GE Appliances
6. Panasonic Corporation
7. Samsung Electronics
8. Midea Group
Table of Contents
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
- 4.1 Growth Drivers
- 4.2 Challenges
5. Europe Microwave Oven Market
6. Market Share - Europe Microwave Oven Market
- 6.1 Type
- 6.2 Application
- 6.3 Structure
- 6.4 Distribution Channel
- 6.5 Country
7. Type - Europe Microwave Oven Market
- 7.1 Grill
- 7.2 Solo
- 7.3 Convection
8. Application - Europe Microwave Oven Market
- 8.1 Commercial
- 8.2 Household
9. Structure - Europe Microwave Oven Market
- 9.1 Built-In
- 9.2 Counter Top
10. Distribution Channel - Europe Microwave Oven Market
- 10.1 Online
- 10.2 Offline
11. Country - Europe Microwave Oven Market
- 11.1 France
- 11.2 Germany
- 11.3 Italy
- 11.4 Spain
- 11.5 United Kingdom
- 11.6 Belgium
- 11.7 Netherlands
- 11.8 Turkey
- 11.9 Rest of Europe
12. Porter's Five Analysis - Europe Microwave Oven Market
- 12.1 Bargaining Power of Buyers
- 12.2 Bargaining Power of Suppliers
- 12.3 Degree of Rivalry
- 12.4 Threat of New Entrants
- 12.5 Threat of Substitutes
13. SWOT Analysis - Europe Microwave Oven Market
- 13.1 Strength
- 13.2 Weakness
- 13.3 Opportunity
- 13.4 Threat
14. Company Analysis
- 14.1 Illinois Tool Works Inc
- 14.1.1 Overview
- 14.1.2 Recent Development
- 14.1.3 Revenue
- 14.2 Sharp
- 14.2.1 Overview
- 14.2.2 Recent Development
- 14.2.3 Revenue
- 14.3 LG Electronics
- 14.3.1 Overview
- 14.3.2 Recent Development
- 14.3.3 Revenue
- 14.4 Whirlpool Corporation
- 14.4.1 Overview
- 14.4.2 Recent Development
- 14.4.3 Revenue
- 14.5 GE Appliances
- 14.5.1 Overview
- 14.5.2 Recent Development
- 14.5.3 Revenue
- 14.6 Panasonic Corporation
- 14.6.1 Overview
- 14.6.2 Recent Development
- 14.6.3 Revenue
- 14.7 Samsung Electronics
- 14.7.1 Overview
- 14.7.2 Recent Development
- 14.7.3 Revenue
- 14.8 Midea Group
- 14.8.1 Overview
- 14.8.2 Recent Development
- 14.8.3 Revenue
List of Figures
- Figure-01: Europe - Microwave Oven Market (Billion US$), 2019 - 2023
- Figure-02: Europe - Forecast for Microwave Oven Market (Billion US$), 2024 - 2032
- Figure-03: Type - Grill Market (Million US$), 2019 - 2023
- Figure-04: Type - Forecast for Grill Market (Million US$), 2024 - 2032
- Figure-05: Type - Solo Market (Million US$), 2019 - 2023
- Figure-06: Type - Forecast for Solo Market (Million US$), 2024 - 2032
- Figure-07: Type - Convection Market (Million US$), 2019 - 2023
- Figure-08: Type - Forecast for Convection Market (Million US$), 2024 - 2032
- Figure-09: Application - Commercial Market (Million US$), 2019 - 2023
- Figure-10: Application - Forecast for Commercial Market (Million US$), 2024 - 2032
- Figure-11: Application - Household Market (Million US$), 2019 - 2023
- Figure-12: Application - Forecast for Household Market (Million US$), 2024 - 2032
- Figure-13: Structure - Built-In Market (Million US$), 2019 - 2023
- Figure-14: Structure - Forecast for Built-In Market (Million US$), 2024 - 2032
- Figure-15: Structure - Counter Top Market (Million US$), 2019 - 2023
- Figure-16: Structure - Forecast for Counter Top Market (Million US$), 2024 - 2032
- Figure-17: Distribution Channel - Online Market (Million US$), 2019 - 2023
- Figure-18: Distribution Channel - Forecast for Online Market (Million US$), 2024 - 2032
- Figure-19: Distribution Channel - Offline Market (Million US$), 2019 - 2023
- Figure-20: Distribution Channel - Forecast for Offline Market (Million US$), 2024 - 2032
- Figure-21: France - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-22: France - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-23: Germany - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-24: Germany - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-25: Italy - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-26: Italy - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-27: Spain - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-28: Spain - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-29: United Kingdom - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-30: United Kingdom - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-31: Belgium - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-32: Belgium - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-33: Netherlands - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-34: Netherlands - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-35: Turkey - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-36: Turkey - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-37: Rest of Europe - Microwave Oven Market (Million US$), 2019 - 2023
- Figure-38: Rest of Europe - Forecast for Microwave Oven Market (Million US$), 2024 - 2032
- Figure-39: Illinois Tool Works Inc - Global Revenue (Million US$), 2019 - 2023
- Figure-40: Illinois Tool Works Inc - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-41: Sharp - Global Revenue (Million US$), 2019 - 2023
- Figure-42: Sharp - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-43: LG Electronics - Global Revenue (Million US$), 2019 - 2023
- Figure-44: LG Electronics - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-45: Whirlpool Corporation - Global Revenue (Million US$), 2019 - 2023
- Figure-46: Whirlpool Corporation - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-47: GE Appliances - Global Revenue (Million US$), 2019 - 2023
- Figure-48: GE Appliances - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-49: Panasonic Corporation - Global Revenue (Million US$), 2019 - 2023
- Figure-50: Panasonic Corporation - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-51: Samsung Electronics - Global Revenue (Million US$), 2019 - 2023
- Figure-52: Samsung Electronics - Forecast for Global Revenue (Million US$), 2024 - 2032
- Figure-53: Midea Group - Global Revenue (Million US$), 2019 - 2023
- Figure-54: Midea Group - Forecast for Global Revenue (Million US$), 2024 - 2032
List of Tables
- Table-01: Europe - Microwave Oven Market Share by Product Type (Percent), 2019 - 2023
- Table-02: Europe - Forecast for Microwave Oven Market Share by Product Type (Percent), 2024 - 2032
- Table-03: Europe - Microwave Oven Market Share by Application (Percent), 2019 - 2023
- Table-04: Europe - Forecast for Microwave Oven Market Share by Application (Percent), 2024 - 2032
- Table-05: Europe - Microwave Oven Market Share by Structure (Percent), 2019 - 2023
- Table-06: Europe - Forecast for Microwave Oven Market Share by Structure (Percent), 2024 - 2032
- Table-07: Europe - Microwave Oven Market Share by Distribution Channel (Percent), 2019 - 2023
- Table-08: Europe - Forecast for Microwave Oven Market Share by Distribution Channel (Percent), 2024 - 2032
- Table-09: Europe - Microwave Oven Market Share by Countries (Percent), 2019 - 2023
- Table-10: Europe - Forecast for Microwave Oven Market Share by Countries (Percent), 2024 - 2032
