Definition: A microwave oven is an electric oven that heats and cooks food by exposing it to electromagnetic radiation in the microwave frequency range. Microwave ovens can be categorized by installation method into freestanding and built-in models. Of the two, built-in microwaves generally provide more power and have additional ventilation. Moreover, microwave oven prices vary according to the features of a given device, ranging from microwave-only appliances (also known as solo microwaves) to combination ovens with grill, steam, and convection functions. Convection ovens without microwave functions, built-in combination ovens with grill, steam, and convection functions, as well as microwave oven accessories, such as microwave cookware and spare parts, are not included in this segment.
Additional information: The market comprises key performance indicators such as revenues, volume, price per unit, average revenue and volume per household, and sales channels.
Note that the volume sales only refer to B2C (business to consumer) sales, via both the offline and the online channel. The average revenue and volume per household are determined by dividing the revenues and volume by the number of households, where a household refers to a house and its occupants, regarded as a unit. Finally, price per unit refers to the cost of a single unit of the product.
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Countertop/freestanding microwave ovens
Over-the-range microwave ovens
Microwave-only appliances (solo microwaves)
Microwaves with grill functions
Convection ovens (without microwave functions)
Built-in combination ovens (with grill, steam, and convection functions)
The data encompasses B2C enterprises. Figures are based on consumer spending on Household Appliances.
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., the Statista Global Consumer Survey), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as number of households, consumer spending, and price level index. This data helps us estimate the market size for each country individually.
In our forecasts, we apply diverse forecasting techniques, such as exponential trend smoothing, for instance. The selection of forecasting techniques is based on the behavior of the relevant market.
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). GCS data is reweighted for representativeness.