The global grill microwave market is anticipated to grow at a CAGR of 2.9 % during the forecast period (2022-2028). The global grill microwave market is growing due to the increasing disposable income in developing countries and the rise in urbanization. The increasing consumer expenditure on appliances that assist them in kitchen work is also expected to boost the growth of the market. The changing lifestyle of the consumer and the demand for stylish and convenient appliances that complement their living standards is also driving the growth of the grill microwave market.
The rising demand for energy-efficient appliances which help in kitchen work and the rise in demand for smart appliances are factors that are considered for the growth of the market. The grill microwave is also high in demand as it uses electricity and limits the use of charcoal and gas grills, which makes electric grills microwave the healthiest way to cook outdoors. With the increasing number of events, such as parties, camping, social gatherings, and others, the demand for the grills microwave market is also growing.
The increasing preference of consumers toward grill food products and barbeque food items is also expected to support the growth of the market positively over the forecast period. The rising demand of consumers to use technologically advanced equipment which is multipurpose and hassle-free and also helps them to manage their kitchen chores is driving the demand for the grill microwave market. The increasing adoption of technology-driven premium kitchen appliances and smart kitchen appliances is also boosting the growth of the market.
Additionally, increasing investment by the major market players for research and development of new and innovative energy-efficient microwave ovens which consume less energy for cooking food faster and efficiently is also anticipated to propel the growth of the market. Furthermore, the increasing television cook programs like BBQ Pitmasters by Grilling with Rich’s and others and the consumer inclination towards trying those dishes in their home are further expected to propel the growth of the grill microwave market in the forecast period.
Some major players in the market include Candy Hoover Group S.r.l., Illinois Tool Works Inc., Alto-Shaam, Inc., LG Electronics, SAMSUNG, Galanz Enterprise Group Co., Ltd., and AB Electrolux among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance:
- In April 2021, Hafele announced the launch of their new range of premium baking microwave appliances that helps to achieve perfect results through various cooking techniques – baking, steaming, grilling, roasting, and so on.
- In March 2021, Samsung announced the launch of new kitchen appliance ranges under the Baker Series microwaves. The new series of microwaves comes with features such as steaming, grilling, and frying with convection features.
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Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Candy Hoover Group S.r.l., Illinois Tool Works Inc., Alto-Shaam, Inc., LG Electronics, SAMSUNG, Galanz Enterprise Group Co., Ltd., AB Electrolux, and others.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Global Grill Microwave Market Report by Segment
By Type
- < 22 L
- 22 – 25 L
- > 25 L
By Application
- Commercial
- Residential
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