Market Insights Consumer Household Appliances Small Appliances

Microwave Ovens - Worldwide

Worldwide

In 2024, the revenue generated in the Microwave Ovens market worldwide is estimated to be US$9.59bn.
It is projected to experience an annual growth rate of 3.89% (CAGR 2024-2028).
When comparing global figures, in the United States stands out as the country with the highest revenue, reaching US$1,998m in 2024.
Looking at the per household revenues in relation to the total number of households, each household is expected to generate US$4.29 in revenue in 2024.
As for the volume in the Microwave Ovens market, it is anticipated to reach 84.2m pieces units by 2028.
In 2025, the segment is expected to demonstrate a volume growth of 1.4%.
On average, each household is projected to have a volume of 0.04pieces units in the Microwave Ovens market in 2024.
Microwave ovens have become an essential household appliance in many countries, including the United States, due to their convenience and time-saving capabilities.

Key regions: United States, Europe, India, Indonesia, Canada

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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 Global Consumer 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). GCS data is reweighted for representativeness.