Microwave Oven Market - By Product Type, By Structure, By Capacity, By Power, By Price Range, By End Use, By Distribution Channel Analysis, Share, Growth Forecast, 2025 to 2034

Microwave Oven Market Size

The global microwave oven market was valued at USD 10.5 billion in 2024 and is anticipated to register a CAGR of over 4.6% between 2025 and 2034.
 

The market for microwave ovens is a subset of the general appliances market which has been expanding considerably, due to changing consumer lifestyles and demanding consumers. Consumers are becoming more selective of which features to include in a purchase e.g. energy rating, multi-use and cost. Busy daily schedules, increased disposable income, and the rise of nuclear family structures have contributed to the rise in the use of microwave ovens that make cooking and reheating easier and faster. The development of the market accelerated from the late 20th century, due to technological innovation and lower urbanization costs. The market also suffers from overcrowding among participating brands. Today, however, the market is still being developed through the introduction of the smart microwave, energy saving concepts, and range adjustments to satisfy various consumer demands.
 

Microwave Oven Market Trends

There has been a growing inclination towards the adoption of smart microwave ovens that utilize IoT features, facilitate voice control functionalities (like Alexa and Google Home), as well as permit mobile-app connectivity. These ovens allow users to set timers, alter the power levels, and supervise the progress of the cooking while remotely located, hence enhancing ease of use and user experience. Samsung and LG's top of the range products have made a mark in the market by providing smart microwave oven functionalities which cater to the rising need of internet enabled home equipment.
 

The growing awareness towards conservation is fostering the need for eco-friendly devices. Microwave ovens that utilize transformer technology and possess energy saving modes have been made for consumption of low energy while still serving their desired uses. Currently, the manufacturers’ approaches are being influenced by the governmental policymakers’ efforts to encourage energy conservation for example, the energy star label in the USA. Europe is widely promoting this trend as it is working towards a set of environmental regulations directed towards manufacturers.
 

In addition, there is an increasing trend of convection microwaves and combination microwave ovens. These changes in the combined and convection microwave ovens have been in response to the change in consumer behavior as they look for versatility in the cooking devices. They appeal to modern households which need microwave ovens that can grill, bake, roast and reheat, all in one device. In this case, the integration of features decreases the number of devices needed which is beneficial for space and technologically savvy customers.
 

Microwave Oven Market Analysis

Owing to technological advancement, an increased demand for convenience, and environmental factors, the market for microwave ovens has shifted over the years. Consumers have favored functional products and thus manufacturers are devising plans to put in more smart technologies IoT connectivity, touch control panels, and automated cooking programs. Companies have also emphasized on eco-friendly products by adopting better sustainability practices and meeting the set consumer goals. The collaborated working between appliance manufacturers and smart home ecosystem providers helps in the devising of connected solutions which tend to promote the adoption of microwave ovens in modern households.
 

Support is being provided through the setting up of strategies that call for the adoption of energy-efficient appliances that will eventually help the domestic manufacturing industry. The employment of policies such as the Energy Star certification in the US and the energy labeling schemes in Europe encourage the consumers to use cheaper energy-efficient microwave ovens. India has also started such policies and has coined it “Make in India” which promotes local markets and International trade, this in turn will create cost-efficient products that will be easily available to the general public. These initiatives help endorse market development and polish the already set up ecosystem that enables sustainable advancement in home appliances industry.
 

People buy microwave ovens on a consistent basis, with over eighty-one million units sold each year which results in constant growth in the market. Experts predict that the microwave market exchange would exceed USD sixteen billion by the end of the year 2034 factoring in a compound annual growth rate of roughly four percent between 2025 and 2034 which results in eighty-seven million units sold. This remarkable level of demand means that people have started seeing the microwave as a core part of the kitchen and the appliances use has only grown with lower and more efficient time needed for cooking asserting the need to more easily available cooking solutions.
 

Based on product type, the microwave oven market is classified into convection microwave oven, grill microwave oven, and solo microwave oven. Convection microwave oven dominated the market in 2024, acquiring a market of USD 4.9 billion and are expected to grow at a CAGR of 5.2% during the forecast period from 2025-2034.  In terms of functionality and space, urban residential units and commercial facilities give high priority to microwave grill bake ovens which explains their stronghold in the market. Convection ovens have gained rapid popularity in developed regions including North America, Europe, and certain areas within the Asia pacific due to the increasing convenience of home baking, advanced cooking, as well as trend shifts.

Based on structure, the microwave oven market is segmented into countertop microwave oven and built-in microwave oven. The countertop microwave oven dominated the market in 2024 by acquiring a market share of 75% and is expected to grow at a CAGR of 4.3% during the forecast period from 2025-2034. Market analysts state that over-the-range microwave ovens are very popular, and the most used type in homes and apartment units are countertop microwave ovens. Owing to their low price, high portability and ease of use, cooking and reheating foods have never been this convenient for the average consumer. This type is very useful for urban residential areas and small houses where the buying power is not that strong. And they can be obtained both online and offline increasing demand. Besides, portable models are very varied in price: from affordable to expensive ones, so they suit a large number of potential customers.

The United States represented approximately USD 2.2 billion microwave oven market in 2024 and is predicted to expand with a compound annual growth rate of 4% over the forecast period which extends from 2025-2034. There are several key factors that collectively contribute to the US leadership of the market in North America. The US is also one of the countries where the ownership of microwaves is highest as over 90% of the homes possess at least one. This trend reveals that the most common features of American households, especially modern ones where time convenience and doors solutions are the most essentials are wide spread use of this equipment as an integral piece of the kitchen. This heavier amount of disposable income coming from the consumers of dwells allows them to have a larger use of high class and smart microwave ovens like the convection and combination models which are readily available due to the changing preference for custom features.
 

North America: In the United States, consumers have wide-ranging access to microwave ovens in different price levels, thanks to the wide retail ecosystem comprising of physical stores like Best Buy and Walmart, as well as online stores like Amazon. Whirlpool, GE Appliances, LG Electronics and Samsung are some of the global companies that have exhibits in the US market that incorporate innovation and ease of use. These companies serve different types of consumers, providing various income earning groups with built-in microwaves and countertop microwaves. The market for smart and multi-purpose microwave ovens has Canada and US leading the way. As the smart home trend continues to grow, there’s a higher demand for products such as IoT, voice assistant, and energy-efficient devices which were highly sought after.
 

Europe: The europe microwave oven market is projected to be worth $83 million by 2025, raking in around 21% global market share for microwave ovens in 2024, which is expected to increase with a melange of modern innovations and extensive kitchen equipment. However, they are predicted to maintain a steady increase of 5.6% in terms of CAGR during the set forecast period. The demand for energy-efficient and multi-functional microwave ovens in Europe has greatly increased, especially with the growing modish kitchen appliance and sustainability trends. Furthermore, the regions robust economy, increasing disposable income, and rise in smart home and modular kitchen preferences in the market have placed Europe as a market leader. In western Europe, including Germany, the U.K, and France, the trend towards fitted appliances and modular kitchens has an increased demand for built-in microwave ovens as people preference integrated solutions that provide a sophisticated modern exterior.
 

Asia Pacific: Asia growing microwave oven market share of around 29% in 2024 and anticipated growth of this segment is expected at a CAGR of around 5.7%. Asia Pacific is the foremost region in terms of microwave oven consumption led by high urbanization rate, increase in income and market consolidation of available kitchen appliances. This change in market is best exemplified within China, India, Japan and South Korea, where the exploding middle class is moving towards time efficient kitchen devices. Increasing instances of dual income families lead to a higher dependence on microwave ovens for quick cooking, reheating and defrosting. Such greater levels of urbanization have stimulated the need for compact, modern and energy-efficient kitchen devices, especially in population-dense areas where there is high demand for counter top and built-in microwave ovens. Ready-to-eat, microwaveable and frozen food are now more fashionable and microwave ovens are also easy to prepare food items in, furthering the growth of this market in this region.
 

Moreover, since LG, Samsung, Panasonic, and Sharp command the Asia Pacific market, the abundance of diversified microwave ovens suited for all price segments is assured. They constantly roll out new, energy-saving and economical products for the regions’ needs, such as low-cost solo ovens for emerging economies and smart ovens for developed regions like Japan and South Korea.
 

Microwave Oven Market Share

The global microwave oven industry is moderately consolidated, with prominent players, such as Samsung, Panasonic, Sharp, holding a market share of ~15-20%.
 

Microwave Oven Market Companies

Major players operating in the microwave oven industry are:

• Alto-Shaam Inc.
• Bajaj
• Bosch
• Breville
• Candy
• Electrolux AB
• Frigidaire
• GE Appliances
• LG Electronics
• Midea Group
• Panasonic Corporation
• Samsung Electronics
• Sharp Corporation
• Smeg S.P.A
• Toshiba Corporation
• Whirlpool Corporation
   

Microwave Oven Industry News

• Sharp launched a multiformat Airfry Microwave Oven MA262 on the 2nd of October 2024. Its four formats which include a microwave, grill, convection oven and an air fryer should appeal to families and bulk cooks alike as its size capacity is 26 liters.
   
• Samsung embarked on a journey to the UK in July 2024 and showcased a new diverse range of all standing smart microwave ovens. These sorts of ovens amalgamate every appliance possible from an air fryer to a microwave leaving no need for additional cleaning equipment.
   
• In July 2024, LG Electronics India revealed new microwave ovens equipped with Scan to Cook technology for more ease of use as well as precision. This technology empowers users to effortlessly prepare meals by scanning the barcodes located on select prepackaged food, with the microwave then automatically configuring the proper time and temperature for cooking.
   

The microwave oven market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) and volume (Million units) from 2021 to 2034, for the following segments:

Click here to Buy Section of this Report

Market, By Product Type

• Convection microwave oven
• Grill microwave oven
• Solo microwave oven

Market, By Structure

• Countertop microwave oven
• Built-in microwave oven

Market, By Capacity

• Upto 20 liters
• 21 - 25 liters
• 26 - 30 liters
• Above 30 liters

Market, By Power

• Low power (under 700W)
• Medium power (700W-1000W)
• High power (above 1000W)

Market, By Price Range

• Low (Under USD 50)
• Medium (USD 50 - USD 100)
• High (Above USD 100)

Market, By Price Range

• Residential
• Commercial
  • Hotels and restaurants
  • Catering services
  • Corporate offices
  • Others (healthcare facilities, etc.)

Market, By Distribution Channel

• Online
  • E-commerce website
  • Company website
• Offline 
  • Hypermarkets and supermarkets
  • Specialty stores
  • Others (department stores, individual stores, etc.)

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico
• MEA
  • Saudi Arabia
  • UAE
  • South Africa