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Microwave Oven Market Overview
A microwave oven companies’ technically uses electromagnetic radiation, specifically microwaves, to heat and cook food quickly. The magnetron inside the oven generates these microwaves, which are absorbed by water, fat, and sugar molecules in the food.
This causes the molecules to vibrate rapidly, generating heat and cooking the food. Key components include the magnetron, a turntable for even heating, a control panel for setting cooking time and power, and a high-voltage transformer to power the magnetron.
Market Drivers
The global microwave oven market is driven by factors such as the increasing demand for convenience and time-saving cooking solutions, urbanization, and changing lifestyles.
Technological advancements, including smart features and energy efficiency, are enhancing user experience.
Rising disposable incomes, especially in emerging markets, and the growing demand for processed and frozen foods also contribute to market growth.
Additionally, energy-efficient models appeal to environmentally conscious consumers, further supporting the market’s expansion.
Market Size
The global microwave oven market is expected to grow from USD 10.8 billion in 2022 to USD 15.70 billion by 2032, with a CAGR of 3.80%.
List of Major Companies
These are the top 10 companies operating in the Microwave Oven Market:
Samsung
Company Overview
| Establishment Year | 1938 |
| Headquarter | Seoul, South Korea |
| Key Management | Jong-Hee Han (CEO) |
| Revenue (US$ Bn) | $ 198.4 Billion (2022) |
| Headcount | ~ 98,557 (2022) |
| Website | http://www.samsung.com/ |
About Samsung
Samsung Electronics continues to lead the microwave oven companies/market with innovative products. In July 2024, it launched a new range of smart all-in-one microwaves in the UK, featuring its largest capacity models yet.
These multifunctional appliances offer cooking options such as baking, roasting, air frying, and steaming. Additionally, at the April 2024 ‘Welcome to BESPOKE AI’ event, Samsung introduced home appliances with enhanced AI and connectivity, emphasizing its focus on innovation and adapting to consumer needs in the home appliance sector.
Geographical Presence
Samsung Electronics has a global presence, with operations in key regions including South Korea (headquarters), North America, Europe, Asia-Pacific, the Middle East, Africa, Latin America, and Oceania.
The company has significant facilities in the U.S., China, India, Germany, and Brazil, focusing on mobile phones, consumer electronics, semiconductors, and display technologies.
Samsung also maintains strong market shares in regions like Europe, Southeast Asia, and the Middle East, where it offers a wide range of products, including home appliances, mobile devices, and smart technologies tailored to local demands.
Recent Developments
- In July 2024, Samsung launched a new microwave range starting at £149, featuring five models, including voice-controlled smart microwaves and large-capacity solo microwaves.
- In May 2024, Samsung launched three new refrigerators in India, offering customizable options to enhance the living experience for consumers.
LG
Company Overview
| Establishment Year | 1947 |
| Headquarter | Seoul, South Korea |
| Key Management | William Cho (CEO) |
| Revenue (US$ Bn) | $ 64.5 B (2022) |
| Headcount | ~ 37,835 (2022) |
| Website | http://www.lge.co.kr/ |
About LG
In July 2024, LG Electronics India launched a new range of microwave ovens among the best companies, including nine models: seven from the Scan to Cook series and two from the premium Objet series.
The Scan to Cook models feature Wi-Fi connectivity and LG’s ThinQ technology, enabling users to scan barcodes on food packages for automatic cooking settings.
The Objet series offers sleek designs and advanced connectivity for a blend of style and functionality. This launch highlights LG’s focus on smart technology to enhance convenience and efficiency in cooking.
Geographical Presence
LG Electronics has a strong global presence, operating in over 100 countries across North America, Europe, Asia, Latin America, and the Middle East. It has a significant footprint in the United States, Canada, and Mexico, with a focus on home appliances, electronics, and energy solutions.
In Europe, LG is known for premium products like OLED TVs and home appliances. Asia, especially South Korea, is a major hub for manufacturing and R&D, while markets in India and China are vital for product distribution.
The company also has a growing presence in South America, Africa, and the Middle East, offering a broad range of consumer electronics and home appliances.
Recent Developments
- In February 2024, LG Electronics partnered with Skyesports, India’s top esports organizer, to combine LG’s advanced technology with Skyesports’ expertise, aiming to transform India’s gaming scene.
- In January 2024, LG Electronics launched its LG QNED 83 series, the next evolution of LED, setting a new standard for visual excellence and immersive entertainment.
Electrolux
Company Overview
| Establishment Year | 1919 |
| Headquarter | Stockholm, Sweden |
| Key Management | Jonas Samuelson (CEO) |
| Revenue (US$ Bn) | $ 14.6 Billion (2022) |
| Headcount | ~ 51,000 (2022) |
| Website | http://www.electrolux.com/ |
About Electrolux
Electrolux AB is a significant player in the microwave oven companies/market, offering a range of products that combine sleek design with advanced cooking technologies.
In 2023, Electrolux introduced a new line of energy-efficient microwave ovens equipped with advanced sensor technology for precise cooking.
These models feature convection cooking, allowing users to bake and brown their favorite foods with the convenience of a microwave and the performance of an oven.
Additionally, Electrolux has emphasized sustainability in its appliances, integrating environmental responsibility into its product lines.
These developments highlight Electrolux’s commitment to innovation and meeting consumer demands for efficient and versatile kitchen appliances.
Geographical Presence
Electrolux AB, headquartered in Stockholm, Sweden, operates in over 150 countries, offering home and professional appliances through brands like AEG, Zanussi, Frigidaire, and Kelvinator.
The company has a strong presence across Europe, North America, Latin America, Asia-Pacific, and the Middle East and Africa, with manufacturing plants in the U.S., Europe, and Latin America.
Electrolux’s diverse brand portfolio enables it to cater to regional consumer preferences, while its strategic global manufacturing and distribution network ensures efficient supply chain management. The company markets products under various brands to meet the specific needs of local markets worldwide.
Recent Development
- In July 2024, Electrolux launched smart laundry appliances, including washers, washer dryers, and tumble dryers, designed to extend clothes’ lifespan and reduce resource use.
- In August 2022, Electrolux launched washing machines and tumble dryers that adjust resource usage and feature a filter that captures 90% of microplastic fibers from synthetic clothing.
Panasonic
Company Overview
| Establishment Year | 1918 |
| Headquarter | Osaka, Japan |
| Key Management | Yuki Kusumi (CEO) |
| Revenue (US$ Bn) | $ 62.8 Billion (2023) |
| Headcount | ~ 233,391 (2023) |
| Website | https://holdings.panasonic/ |
About Panasonic
Panasonic Corporation remains a leading force in the microwave oven companies/market, consistently introducing innovative products that enhance cooking convenience and efficiency.
In January 2024, Panasonic expanded its partnership with Fresco, a smart kitchen platform, to develop an AI-powered cooking assistant for its appliances, starting with the HomeCHEF 4-in-1 multi-oven.
This collaboration aims to provide personalized cooking experiences for users. Additionally, in December 2024, Panasonic’s microwave factory in Wales achieved a significant milestone by becoming entirely powered by renewable energy, underscoring the company’s commitment to sustainable manufacturing practices.
These developments highlight Panasonic’s dedication to integrating advanced technology and sustainability into its microwave oven offerings.
Geographical Presence
Panasonic Corporation operates in over 60 countries, with a significant global footprint. It has 166 bases worldwide, including 39 in China and Northeast Asia, 13 in Europe, 33 in Asia and Oceania, 3 in the Near and Middle East/Africa, 5 in North America, and 9 in Latin America.
Its headquarters are located in Tokyo, Japan, with key facilities in Osaka, Shiga, Hyogo, and Aichi. This extensive geographical presence enables Panasonic to serve diverse markets and meet regional demands effectively.
Recent Development
- In December 2024, Panasonic transitioned its RE100 site in Wales to sustainable energy sources, reducing dependence on external power as part of its sustainability shift.
- In January 2024, Panasonic partnered with Fresco to create a cooking assistant for its HomeCHEF 4-in-1 multi-oven.
Sharp
Company Overview
| Establishment Year | 1912 |
| Headquarter | Osaka Prefecture, Japan |
| Key Management | Po-Hsuan Wu (CEO) |
| Revenue (US$ Bn) | $ 22.2 B (2023) |
| Headcount | ~ 46,206 (2023) |
| Website | https://global.sharp/ |
About Sharp
Sharp Corporation continues to be a significant player in the microwave oven companies/market, focusing on innovation and smart home integration.
In October 2024, Sharp introduced five new Carousel® countertop microwave models in Canada, featuring advanced sensor technology and inverter technology for more precise cooking and defrosting.
Additionally, in February 2024, at the Kitchen & Bath Industry Show, Sharp emphasized smart home innovation and appliance connectivity, showcasing products that enhance the home and deliver simply better living.
These developments underscore Sharp’s commitment to providing versatile and efficient cooking solutions that cater to modern consumer needs.
Geographical Presence
Sharp Corporation, headquartered in Sakai, Osaka, Japan, operates globally and has a strong presence in the Americas, Europe, the Middle East, Africa, Asia-Pacific, and China.
It has regional offices in key markets, including the United States, Germany, France, Russia, India, and Australia, among others.
Sharp’s manufacturing facilities are located across several countries, including Poland, Indonesia, Malaysia, and China. With a workforce of over 42,000 employees, Sharp continues to expand its reach, serving a diverse range of markets worldwide.
Recent Developments
- In December 2024, Sharp Corporation and KDDI signed a memorandum of understanding to accelerate the launch of an AI data center.
- In October 2024, Sharp launched five new countertop microwave models in Canada, featuring advanced features to enhance cooking efficiency and convenience for households.
Bosch
Company Overview
| Establishment Year | 1886 |
| Headquarter | Stuttgart, Germany |
| Key Management | Stefan Hartung (CEO) |
| Revenue (US$ Bn) | $ 96.1 Billion (2023) |
| Headcount | ~ 429,416 (2023) |
| Website | http://www.bosch.com/ |
About Bosch
Robert Bosch GmbH maintains a strong presence in the microwave oven companies/market, offering a range of high-quality appliances that blend advanced technology with user-friendly design.
In 2023, Bosch introduced the Series 8 Accentline Built-In Compact Oven with Microwave, featuring a TFT touch display, steam baking capabilities, and AI-powered cooking functions for enhanced culinary precision.
In September 2024, Bosch faced a $2 million class-action settlement in the United States concerning defective control panels in certain microwave and oven models, agreeing to compensate affected consumers without admitting wrongdoing.
These developments highlight Bosch’s commitment to innovation and quality while also addressing challenges in product performance and customer satisfaction.
Geographical Presence
Robert Bosch GmbH has a strong global presence, with operations spanning Europe, North America, South America, Asia-Pacific, and the Middle East and Africa.
Headquartered in Germany, Bosch operates across several European countries and has significant manufacturing, R&D, and service centers in the U.S., Canada, Mexico, Brazil, Argentina, China, India, Japan, and other key regions.
The company’s innovations in automotive technology, power tools, and home appliances are supported by over 100 R&D centers worldwide.
Bosch’s global footprint includes more than 400 subsidiaries and regional offices, ensuring a competitive edge and local responsiveness across various markets.
Recent Developments
- In December 2024, Bosch sold its Building Technologies division’s security and communications product business to the European investment firm Triton.
- In May 2024, Bosch agreed to a $2 million settlement in a class action lawsuit over defective control panels in its appliances, which caused them to dim or fail.
Midea
Company Overview
| Establishment Year | 1968 |
| Headquarter | Guangdong, China |
| Key Management | Paul Fang (Chairman) |
| Revenue (US$ Bn) | $ 53.2 Billion (2022) |
| Headcount | ~ 190,000 (2023) |
| Website | http://midea-group.com/ |
About Midea
Midea Group is a leading manufacturer in the microwave oven companies/market, known for producing appliances for major brands such as Toshiba, Whirlpool, and Black+Decker.
In March 2023, Midea’s microwave oven model MM720C-PM0E00 2AT received the first-ever Intertek Green Leaf Certification, recognizing its compliance with the ISO 14067:2018 standard for carbon footprint assessment.
In September 2024, Midea introduced the Celestial Flex Series, a line of cordless kitchen appliances utilizing the Ki wireless power transfer standard, and the Midea One Oven, a multifunctional appliance that combines oven, microwave, steamer, and air fryer capabilities.
These developments highlight Midea’s commitment to innovation and sustainability in the microwave oven companies/sector.
Geographical Presence
Midea Group, headquartered in Guangdong, China, operates in over 200 countries, with a workforce of over 190,000 employees.
The company reported revenues of RMB 373.7 billion in 2023, with 40% of sales coming from international markets. Midea’s global presence spans Europe, North America, Latin America, and the Middle East, where it has expanded through joint ventures and strategic partnerships.
The company is investing in local manufacturing and R&D centers to strengthen its position, aiming to increase market share and expand its sales network to 40 countries by 2025.
Recent Developments
- In September 2024, Midea launched its first line of cordless kitchen appliances powered wirelessly by Ki induction technology.
- In January 2024, Manchester City and Midea launched a community football project in São Paulo, Brazil, combining football, leadership, and sustainability education with Midea home appliances.
Breville
Company Overview
| Establishment Year | 1932 |
| Headquarter | New South Wales, Australia |
| Key Management | Jim Clayton (CEO) |
| Revenue (US$ Bn) | $ 1.1 Billion (2022) |
| Headcount | ~ 610 (2023) |
| Website | https://brevillegroup.com/ |
About Breville
Breville Group, an Australian company renowned for premium kitchen appliances, has made significant strides in the microwave oven companies/market by introducing multifunctional devices that cater to modern cooking needs.
In 2023, Breville launched the Combi Wave 3-in-1, a versatile appliance that combines the functionalities of an air fryer, convection oven, and microwave, offering consumers a comprehensive cooking solution.
This innovation has been well-received for its ability to perform multiple cooking tasks within a single unit, enhancing kitchen efficiency.
Additionally, in October 2023, Breville relaunched its Breville+ app, providing step-by-step demonstrations of various recipes further integrating technology with its appliances to improve user experience.
These developments underscore Breville’s commitment to innovation and meeting the evolving demands of consumers in the microwave oven companies/sector.
Geographical Presence
Breville Group, an Australian multinational headquartered in Alexandria, NSW, operates in over 70 countries, including North America, Europe, Asia-Pacific, Latin America, and Africa.
The company markets products under the Breville, Sage, Kambrook, Baratza, and LELIT brands, with Sage used in the UK and Europe.
Breville has expanded through acquisitions, including ChefSteps in 2019, Baratza in 2020, and LELIT in 2022, enhancing its portfolio in culinary technology and coffee appliances. These strategic moves have allowed Breville to solidify its global presence and diversify its product offerings.
Recent Development
- In October 2023, Breville relaunched its Breville+ app with step-by-step demonstrations of popular recipes.
- In November 2022, Breville launched the Barista Express™ Impress, a next-generation espresso machine designed for automated dosing, precise tamping, and reduced grind mess.
Toshiba
Company Overview
| Establishment Year | 1875 |
| Headquarter | Minato, Tokyo, Japan |
| Key Management | Taro Shimada (CEO) |
| Revenue (US$ Bn) | $ 24.8 Billion (2022) |
| Headcount | ~ 106,648 (2023) |
| Website | https://www.global.toshiba/ww/top.html |
About Toshiba
Toshiba Corporation has made a strong mark in the microwave oven companies/market, offering versatile models that meet diverse consumer needs.
Recently, the company introduced multifunctional appliances like the Toshiba ML-EC42P(SS), a 4-in-1 microwave, an air fryer, a convection oven, and a combination cooker.
It features Smart Sensor technology that adjusts cooking time and power for optimal results. Known for reliability and innovation, Toshiba continues to cater to the evolving demands of the microwave market.
Geographical Presence
Toshiba Corporation, headquartered in Tokyo, Japan, operates a broad global network with regional offices, research centers, and manufacturing facilities across North America, Europe, Asia-Pacific, and the Middle East.
Key offices are located in the U.S., Canada, the U.K., Germany, China, India, and Australia. The company has R&D centers in Japan, the U.K., India, and Vietnam, as well as manufacturing plants in Japan, China, the U.S., and India.
This extensive geographical presence allows Toshiba to serve global markets effectively and collaborate with local partners.
Recent Development
- In May 2024, Toshiba opened a new 300mm wafer fabrication plant and office complex at Kaga Toshiba Electronics in Ishikawa Prefecture, Japan.
- In March 2024, Toshiba began large-scale deliveries of the SmartMCD™ Series gate driver ICs with a built-in microcontroller (MCU).
Whirlpool
Company Overview
| Establishment Year | 1911 |
| Headquarter | Benton Harbor, Michigan, U.S. |
| Key Management | Marc Bitzer (CEO) |
| Revenue (US$ Bn) | $ 19.4 Billion (2023) |
| Headcount | ~ 59,000 (2022) |
| Website | http://www.whirlpoolcorp.com/ |
About Whirlpool
Whirlpool Corporation is a prominent player in the microwave oven companies/market, offering a diverse range of products that blend innovative technology with user-friendly design.
In 2017, Whirlpool’s microwave ovens, including models WMH53521H, WMH78019H, and WMHR32519FS, met the Association of Home Appliance Manufacturers (AHAM) Sustainability Standards, reflecting the company’s commitment to environmental responsibility.
In May 2024, Whirlpool collaborated on the Matter 1.3 smart connectivity update, expanding smart home integration to include appliances such as microwaves, enhancing user convenience and connectivity.
These developments underscore Whirlpool’s dedication to sustainability and innovation in the microwave oven companies/sector.
Geographical Presence
Whirlpool Corporation, headquartered in Benton Harbor, Michigan, operates in over 170 countries, with a strong presence across North America, Latin America, Europe, Asia-Pacific, and the Middle East.
In North America, it leads the U.S. market and also has significant operations in Canada and Mexico. In Latin America, Brazil is a key market, while in Europe, it holds a prominent position in countries like Italy, the UK, and France.
Whirlpool also has a strong presence in China and India, and its reach extends to Australia, Southeast Asia, and parts of Africa and the Middle East, adapting its product offerings to local market needs.
Recent Developments
- In May 2024, Whirlpool expanded its Feel Good Fridge program by partnering with HelloFresh and Total Quality Logistics (TQL).
- In April 2024, Whirlpool completed its transaction with Arçelik, marking a key step in its portfolio transformation and creating opportunities to maximize value.
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