Europe Microwave Oven Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.89 Billion |
| Market Size (2029) | USD 2.16 Billion |
| CAGR (2024 - 2029) | 2.70 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Microwave Oven Market Analysis
The Europe Microwave Oven Market size is estimated at USD 1.89 billion in 2024, and is expected to reach USD 2.16 billion by 2029, growing at a CAGR of 2.70% during the forecast period (2024-2029).
COVID-19 engendered a decline in consumer confidence that led many to curb their discretionary spending. However, demand for microwaves was supported by the fact that many local consumers spent much more time at home during the year. The household penetration rate of microwaves rose steadily in Europe during the forecast period, and the pandemic did not derail this trend. This appliance tends to be particularly popular with younger consumers, many of whom are not really used to cooking for themselves and looking for quick and convenient meals.
In-country like Netherland, Europe, despite declining volume sales, major players Samsung, Sharp, Siemens, and LG Electronics all gained further share in 2020. While Samsung's overall lead is traditionally supported by positive reviews on independent review sites in addition to offering innovative products in sleek designs for both freestanding and built-in formats, second-ranked Sharp, whilst only focusing on freestanding microwaves, maintains an advantage over other competitors by offering models with sufficient functionality at affordable prices, a relevant factor behind the purchasing decisions of many Dutch consumers.
In-country like France, Europe, Volume sales of microwaves have declined due to store closures, especially electronics and appliance specialist retailers, as the French government has introduced two national lockdowns in 2020 to curb COVID-19. Because electronics and appliance specialists are the main channels for retail sales of consumer appliances, microwaves have decreased by a percentage like that of other major appliances
Europe Microwave Oven Market Trends
This section covers the major market trends shaping the Europe Microwave Oven Market according to our research experts:
Residential Application is Dominating the Market
In the case of the residential application segment, the most significant driver is the changing lifestyles and food consumption preferences of people, with more consumers shifting toward ready-to-eat and frozen food products. In 2020, the residential application segment accounted for a large revenue share, and it is likely to expand at a healthy CAGR over the forecast period. A large part of new households comprises working from home due to COVID-19. This trend is estimated to boost the Residential use of microwave ovens.
Increasing Import And Trade Deficit
European Union is experiencing a huge demand for construction activities. Furthermore, Countries like the UK are experiencing an increase in Housing repair and private house construction activities wherein 20% of total construction is of private houses whereas 18% is of housing repair. Demand for Smart homes is gaining, pushing demand for smart refrigerators. Import is gradually being increased by value USD 1,766,195 for 2019 and USD 1,840,760 for 2020. Whereas export value being at USD 1,154,894 for 2019 and USD 1,208,599 for 2020. With a trade deficit of USD 632,161 for the year 2020.
Europe Microwave Oven Industry Overview
Companies across the world have huge investments in this segment of the market. In Europe, the Microwave Oven market has many companies fragmented over minor shares. Siemens, Samsung, Whirlpool, LG, Haier, Panasonic, Midea, Filtronic Plc, MKS Instrument are amongst the Microwave Oven, fixtures, etc.
Adoption of Smart Microwave Ovens and up-gradation to new Technology leads to increasing competition amongst the company. Innovation and technological advancement taking a pace as the COVID-19 and urbanization strike general people to the adoption of the new microwave oven and household appliances.
Europe Microwave Oven Market Leaders
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Siemens
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Samsung
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Whirlpool
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Panasonic
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Haier
*Disclaimer: Major Players sorted in no particular order
Europe Microwave Oven Market News
European Union's new Energy Label
The EU's new energy label requirements came into effect from March 2021. All white goods sold in EU countries from this time will need to feature an updated sticker communicating their energy rating, with the current classifications of 'A+', 'A++' and 'A+++' replaced by a new scale of lettering from A to G, with 'A' being the most ecologically friendly. This could entail manufacturers having to undertake significant work to bring their models up to the desired rating.
Samsung Eco Mode
In October 2020, Samsung Electronics launched the Eco-mode feature in microwave ovens and appliances. This feature helps to save energy by converting the microwave oven to eco-mode while not use. This reduces the consumption of electricity.
Europe Microwave Oven Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Market Opportunities
- 4.5 Recent Development In Markets
- 4.6 Porter's Five Force Model
- 4.7 Technology Snapshot
- 4.8 Consumer Behaviour Analysis
- 4.9 Government Regulation In Market
- 4.10 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Type
- 5.1.1 Grill
- 5.1.2 Solo
- 5.1.3 Convection
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5.2 By Distribution Channel
- 5.2.1 Multi Branded
- 5.2.2 Online Store
- 5.2.3 Other Distribution Channels
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5.3 By Country
- 5.3.1 United Kingdom
- 5.3.2 France
- 5.3.3 Italy
- 5.3.4 Germany
- 5.3.5 Spain
- 5.3.6 Other European Countrie
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5.4 By End Users
- 5.4.1 Residential
- 5.4.2 Commercial
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
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6.2 Company Profiles
- 6.2.1 Siemens
- 6.2.2 Whirlpool
- 6.2.3 LG
- 6.2.4 Haier
- 6.2.5 Panasonic
- 6.2.6 Midea
- 6.2.7 Filtronic Plc
- 6.2.8 MKS Instruments
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Microwave Oven Industry Segmentation
Microwave Ovens are one of the most widely demanded products as people are adopting urbanization. A complete background analysis of the Europe Microwave Oven Market, which includes an assessment of the economy, market overview, market size estimation for key segments, and emerging trends in the market, market dynamics, and key company profiles are covered in the report. The Europe Microwave Oven Market is segmented by Type (Grill, Solo, Convection), by Distribution (Multi Branded Stores, Exclusive Stores, Online Stores, Other Distribution Channels), By Country (United Kingdom, France, Italy, Germany, Spain, Other European Countries), and by End User (Residential, Commercial). For each segment, the market sizing and forecasts have been done on the basis of value (USD million).
| By Type | Grill |
| Solo | |
| Convection | |
| By Distribution Channel | Multi Branded |
| Online Store | |
| Other Distribution Channels | |
| By Country | United Kingdom |
| France | |
| Italy | |
| Germany | |
| Spain | |
| Other European Countrie | |
| By End Users | Residential |
| Commercial |
Europe Microwave Oven Market Research FAQs
How big is the Europe Microwave Oven Market?
The Europe Microwave Oven Market size is expected to reach USD 1.89 billion in 2024 and grow at a CAGR of 2.70% to reach USD 2.16 billion by 2029.
What is the current Europe Microwave Oven Market size?
In 2024, the Europe Microwave Oven Market size is expected to reach USD 1.89 billion.
Who are the key players in Europe Microwave Oven Market?
Siemens, Samsung, Whirlpool, Panasonic and Haier are the major companies operating in the Europe Microwave Oven Market.
What years does this Europe Microwave Oven Market cover, and what was the market size in 2023?
In 2023, the Europe Microwave Oven Market size was estimated at USD 1.84 billion. The report covers the Europe Microwave Oven Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Europe Microwave Oven Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Microwave Oven Industry Report
Statistics for the 2024 Europe Microwave Oven market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Microwave Oven analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
