Asia Pacific Microwave Oven Market By Product Types (Convection, Grill, Solo), Applications (Commercial, Household), Structures (Counter Top, Built-in)
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The Microwave Oven Market in the Asia Pacific is expected to register a CAGR of 7.1% during the forecast period (2017 - 2023). Microwave ovens are a vital part of kitchen appliances today. The microwave oven market would grow at a significant rate during the forecast period. Changing the lifestyle of consumers has further led to the demand for stylish and convenient appliances. Nevertheless, traditional cooking equipment is still a prominent choice among the large part of the population in the developed regions of Asian countries, limiting the growth of the market.
Nonetheless, the growing need for energy efficient kitchen appliances and demand for smart appliances would have a positive impact on the market expansion. Microwave oven use thermal energy and heat the polar molecules in food. It is a process which is also popularly known as dialectic heating. The microwave ovens emit radiations which are of shorter wavelength; nevertheless, the radiations are of tremendous energy facilitating faster cooking. Microwave ovens are also used for roasting, baking and grilling, depending on the power out. Microwave ovens come with wide verity of options such as touch display panels, a heating chamber, vents and a glass turntable.
Based on the Product Types, the Microwave Oven market is segmented into Convection, Grill, and Solo. Based on the Applications, the market is segmented into Commercial and Household. Based on Structures, the market is segmented into Counter Top and Built-In. Based on country, Microwave Oven market is segmented into China, Japan, India, Malaysia, Singapore, Australia and Rest of Asia-Pacific) and Latin America, Middle East & Africa. China remained the dominant country in the Microwave Oven market in 2016.
India and Australia would witness promising CAGR during the forecast period (2017-2023). The report covers the analysis of key stake holders of the Microwave Oven market. Key companies profiled in the report include Panasonic Corporation, Whirlpool Corporation, LG Corporation (LG Electronics, Inc.), Samsung Electronics Co. Ltd., Alto Shaam, Inc., AB Electrolux, Hon Hai Precision Industry Co., Ltd., Techtronic Industries (Hoover limited), Illinois Tool Works (ITW) Inc., and Galanz Enterprise Group.