Dublin, June 21, 2024 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
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.
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.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 140 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $3 Billion |
| Forecasted Market Value (USD) by 2032 | $4.13 Billion |
| Compound Annual Growth Rate | 3.6% |
| Regions Covered | Europe |
Company Analysis: Overview, Recent Developments, Revenue Analysis
- Illinois Tool Works Inc
- Sharp
- LG Electronics
- Whirlpool Corporation
- GE Appliances
- Panasonic Corporation
- Samsung Electronics
- Midea Group
Type - Market breakup in 3 viewpoints:
- Grill
- Solo
- Convection
Application - Market breakup in 2 viewpoints:
- Commercial
- Household
Structure - Market breakup in 2 viewpoints:
- Built-In
- Counter Top
Distribution Channel - Market breakup in 2 viewpoints:
- Online
- Offline
Country - Market breakup in 9 viewpoints:
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherlands
- Turkey
- Rest of Europe
For more information about this report visit https://www.researchandmarkets.com/r/z8h5u
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
