According to the report, the Commercial Microwave Ovens market is expected to grow from USD 13,227 million in 2019 to USD 16,319 million by 2026, growing at a CAGR of 3.06% from 2019 to 2026.
Market Overview
The global Commercial Microwave Ovens market is estimated to be USD 13,227 million in 2019 and is expected to reach USD 16,319 million by 2026, with a CAGR of 3.06% during the forecast period.
Increasing consumer awareness, rise in disposable income, and enlarging size of the population are some major factors of driving the Commercial Microwave Ovens market growth.
A microwave oven (also commonly referred to as a microwave) is an electric oven that heats and cook food by exposing it to electromagnetic radiation in the microwave frequency range. This induces polar molecules in the food to rotate and produce thermal energy in a process known as dielectric heating. Microwave ovens heat foods quickly and efficiently because excitation is fairly uniform in the outer 25–38 mm (1–1.5 inches) of a homogeneous, high water content food item; food is more evenly heated throughout than generally occurs in other cooking techniques. Commercial microwaves are constructed with higher quality materials and designed for superior durability compared to a typical residential microwave. They are also designed for much more frequent and heavy use than a home model. A commercial microwave will typically have a much higher power output than a residential microwave.
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Competitive Insights
Key players operating in this market include Galanz, Midea, Panasonic, SHARP, Whirlpool, Electrolux, Siemens, GE(Haier), LG, Samsung, Toshiba, Bosch, and Breville.
Regional Insights
The major three consumption markets are North America, Asia Pacific, and Europe, accounted for 91.82%. North America is the leader market at a share of 32.55%, followed by the Asia Pacific and Europe with a share of 29.79% and 29.48%.
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l Under 1 Cu. Ft Type
l 1 to 1.9 Cu. Ft Type
l Over 2 Cu.ft Type
Application Insights
l Foodservice Industry
l Food Industry
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Audience
l Commercial Microwave Ovens manufacturers
l Distributors and resellers of Commercial Microwave Ovens
l Commercial Microwave Ovens industry associations
l Product managers, Commercial Microwave Ovens industry administrator, C-level executives of the industries
l Market Research and consulting firms
l Small and Medium-sized Enterprises (SMEs)
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