Commercial Microwave Ovens Market Size to Grow by $ 728.90 mn through 2021-2025
Technavio research projects the commercial microwave ovens market to grow by $ 728.90 mn, accelerating at a CAGR of over 3% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Commercial Microwave Ovens Market: Key Market Driver
One of the primary factors that will trigger the growth of the commercial microwave ovens market size is Growing demand for energy-efficient cooking process. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
Commercial Microwave Ovens Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. AB Electrolux, Ali Group Srl, Haier Smart Home Co. Ltd., Midea Group Co. Ltd., Panasonic Corp., Sammic SL, Samsung Electronics Co. Ltd., Sharp Corp., The Vollrath Co. LLC, and Whirlpool Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.
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Technavio has been monitoring the global commercial microwave ovens market and it is expected to grow by USD 728.90 million accelerating at a CAGR of over 3% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report
Commercial Microwave Ovens Market: Segmentation by Product
During 2019, the commercial heavy-duty microwave ovens segment accounted for the major share of the Commercial Microwave Ovens Market. They are in high demand as they offer high capacity and power levels as compared with medium-duty and light-duty microwave ovens. The growing demand for the energy-efficient cooking process is one of the primary factors that is triggering the growth of the commercial microwave ovens market. Commercial microwave ovens eliminate the requirement of pre-heating, which significantly aids consumers in saving energy.
Commercial Microwave Ovens Market: Segmentation by Geography
North America was the largest Commercial Microwave Ovens Market market in 2020, and the region will offer several growth opportunities to market vendors.The increasing number of foodservice establishments is one of the prime factors that will facilitate the commercial microwave ovens market growth in North America over the forecast period. 33% of the market growth will originate from North America during the forecast period. Market growth in this region will be slower than the growth of the market in Europe, APAC, and MEA.
Commercial Microwave Ovens Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. AB Electrolux, Ali Group Srl and Haier Smart Home Co. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report
