Market Size of Commercial Microwave Ovens Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 6.20 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Commercial Microwave Ovens Market Analysis
The Commercial Microwave Ovens Market has generated gross premiums of USD 11.2 billion in the current year and is poised to register a CAGR of more than 6.2% for the forecast period.
Post-COVID-19, the market again started to grow rapidly as all the restrictions were removed. The lockdown led to restrictions on manufacturing activities and supply chains. However, after COVID-19, the increasing outings and traveling of people positively impacted the commercial microwave oven market.
Commercial microwave ovens have significant usage across the food service industry due to their multiple benefits, such as expedited cooking process, cost-effectiveness, improved efficiency, and lesser time consumption. Modern-day commercial microwave ovens are highly programable and feature internal memory systems that store up to 100 recipe settings. The digitized displays of these ovens help users conveniently explore various options and set timers, making them more accessible for employees and staff. Commercial microwave ovens are versatile and offer faster and more efficient cooking options for commercial food service establishments like restaurants, cafés, takeaways, etc. These devices are best suited for large-scale food operations for their beneficial uses in reheating food, quick defrosting, and a variety of cooking options.
The rapidly burgeoning global demand for energy-efficient cooking methods is a crucial driver for the commercial microwave oven market. The market growth can be attributed to a plethora of factors, such as the numerous advantages of commercial microwave ovens over traditional microwaves, like enhanced functionality and lesser energy and time consumption, the expanding foodservice industry (including restaurants, hotels, and cafés), the surging demand for microwave ovens across corporate firms and other commercial establishments, the rising popularity of foodservice outlets like food trucks and takeaways, the emerging cloud kitchen and online food delivery sector, the booming hospitality sector, and technological advancements in microwave ovens.
Manufacturers are increasingly focusing on developing commercial microwaves with automatic timers for efficient cooking processes, which is a highly conducive factor for market growth. The amplifying demand for frozen and ready-to-eat food items, improving living standards, rising disposable incomes, rapid urbanization, growing working population and their packed work schedules, and the soaring demand for catering services for seminars and social gatherings are other pivotal factors contributing to the market growth. However, commercial microwave ovens have certain disadvantages, such as rapid heating that often leads to overcooked food, improper container ventilation, and unevenly cooked food, causing cold spots. Such factors are expected to limit the demand for commercial microwave ovens to some extent. Moreover, high power consumption and increasing costs of these appliances act as key restraints for global market growth.
Commercial Microwave Ovens Industry Segmentation
Microwave ovens are electronic devices that utilize electromagnetic waves for cooking and heating food and beverage products in a short period of time. Electromagnetic waves or microwaves radiate heat in the form of microwave energy. This energy is exposed to the water molecules present in food products. The commercial microwave ovens market is segmented by product duty type (commercial heavy-duty microwave ovens, commercial medium-duty microwave ovens, and commercial light-duty microwave ovens), product capacity type (under 1 cu ft type, 1 to 1.9 cu ft type, and over 2 cu ft type), application (foodservice industry, food industry, and other applications), control feature (button controls and dial controls), distribution channel (multi-branded stores, specialty stores, online stores, and other distribution channels), and geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report offers the market sizes and forecasts by value (in USD) for all the above segments.
Product Duty Type | |
Commercial Heavy-duty Microwave Ovens | |
Commercial Medium-duty Microwave Ovens | |
Commercial Light-duty Microwave Ovens |
Product Capacity Type | |
Under 1 cu ft Type | |
1 to 1.9 cu ft Type | |
Over 2 cu ft Type |
Application | |
Foodservice Industry | |
Food Industry | |
Other Applications |
Control Feature | |
Button Controls | |
Dial Controls |
Distribution Channel | |
Multi-branded Stores | |
Specialty Stores | |
Online Stores | |
Other Distribution Channels |
Geography | |
North America | |
Europe | |
Asia-Pacific | |
South America | |
Middle-East and Africa | |
Rest of the World |
Commercial Microwave Ovens Market Size Summary
The commercial microwave oven market is experiencing robust growth, driven by the increasing demand for energy-efficient cooking solutions and the expanding food service industry. These ovens are integral to commercial kitchens due to their ability to expedite cooking processes, enhance efficiency, and reduce time and energy consumption. The post-COVID-19 recovery has further accelerated market expansion as restrictions lifted, leading to increased consumer outings and travel. Modern commercial microwave ovens are equipped with advanced features such as programmable settings and digitized displays, making them versatile tools for restaurants, cafés, and other food service establishments. Despite some challenges, such as uneven cooking and high power consumption, the benefits of these ovens in large-scale food operations continue to propel market growth.
The Asia-Pacific region is the fastest-growing market, fueled by rapid industrialization and a booming food and hospitality sector. Countries like China and India are witnessing a surge in demand for microwave ovens, driven by consumer preferences for high-quality kitchen appliances. Technological advancements and product innovations are key factors supporting market demand in this region. Major players like Samsung, LG, Galanz, Panasonic, and Midea dominate the market, but mid-size and smaller companies are also gaining traction through new contracts and market expansion. The report highlights the significant role of energy-efficient equipment in reducing operational costs and carbon footprints in commercial kitchens, underscoring the market's potential for continued growth.
Commercial Microwave Ovens Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Quick Food Preparation in Hotels & Restaurants
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1.2.2 Energy efficient and Space saving Appliances
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1.3 Market Restraints
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1.3.1 Limitations in Cooking Complex Dishes
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1.4 Market Opportunities
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1.4.1 Technological Advancements for Faster and More Efficient Cooking
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1.5 Value Chain/Supply Chain Analysis
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1.6 Porter's Five Forces Analysis
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1.6.1 Bargaining Power of Buyers/Consumers
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1.6.2 Bargaining Power of Suppliers
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1.6.3 Threat of New Entrants
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1.6.4 Threat of Substitute Products
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1.6.5 Intensity of Competitive Rivalry
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1.7 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 Product Duty Type
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2.1.1 Commercial Heavy-duty Microwave Ovens
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2.1.2 Commercial Medium-duty Microwave Ovens
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2.1.3 Commercial Light-duty Microwave Ovens
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2.2 Product Capacity Type
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2.2.1 Under 1 cu ft Type
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2.2.2 1 to 1.9 cu ft Type
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2.2.3 Over 2 cu ft Type
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2.3 Application
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2.3.1 Foodservice Industry
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2.3.2 Food Industry
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2.3.3 Other Applications
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2.4 Control Feature
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2.4.1 Button Controls
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2.4.2 Dial Controls
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2.5 Distribution Channel
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2.5.1 Multi-branded Stores
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2.5.2 Specialty Stores
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2.5.3 Online Stores
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2.5.4 Other Distribution Channels
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2.6 Geography
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2.6.1 North America
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2.6.2 Europe
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2.6.3 Asia-Pacific
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2.6.4 South America
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2.6.5 Middle-East and Africa
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2.6.6 Rest of the World
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Commercial Microwave Ovens Market Size FAQs
What is the current Commercial Microwave Ovens Market size?
The Commercial Microwave Ovens Market is projected to register a CAGR of greater than 6.20% during the forecast period (2024-2029)
Who are the key players in Commercial Microwave Ovens Market?
Samsung, LG, Galanz, Panasonic and Midea are the major companies operating in the Commercial Microwave Ovens Market.