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Egypt's microwave oven market has been experiencing significant growth over the past years, and a similar trend is forecasted to continue in the coming years. The rising population along with the increased standard of living are the primary reasons contributing to the rising demand for microwave ovens in Egypt. The GDP per capita has increased 34.9% in the last ten years in Egypt, with higher disposable income for the people living in Tier I and Tier II cities of the country have enabled the consumers to invest in their household appliance requirements.
On account of Covid-19, the unemployment rate in Egypt increased to 9.6% during Q2, 2020, and accordingly, average annual headline urban inflation recorded 5% during the year 2020, compared to 9.2% in 2019, marking the lowest rate recorded since 2005. The increasing unemployment rate affected the purchasing power of the common man resulting in low sales of microwaves in the country.
The rising urban population that accounts for about 42.7% of the total population in 2020 would also foster the growth of the microwave market during the forecast period. The growing аwаrеnеѕѕ regarding the usage of microwaves among individuals from the middle and lоwеr-middle іnсоmе segment, particularly іn urbаn аrеаѕ, соuрlеd with improving living standards аrе ѕоmе оf the fасtоrѕ ехресtеd tо сrеаtе potential rеvеnuе opportunities fоr рlауеrs ореrаtіng іn microwave market.
Scope of the Report
A complete background analysis of the Egypt microwave market, which includes an assessment of the National accounts, economy, and emerging market trends by segments, significant changes in the market dynamics, and the market overview is covered in the report. Egypt Microwave Ovens Market is segmented by Types (Conventional, Solo, Grill), Applications (Residential, Commercial), and by Structure (Countertop, Built-in).
Key Market Trends
Rising Disposable Income & Urbanization is Augmenting Microwave Sales
The urban population of the country is a major buyer of microwave ovens as compared to the rural population on account of the busy lifestyle and higher dependence on quick cooking methods for routine usage in their daily lives. The rising technological innovation by the market players to suit the requirements of all consumer segments would augment the demand for microwaves in the country over the coming years.
In the last five years, Egypt has seen around a 10% rise in urban population owing to preferable job opportunities, a better quality of schools, improved living standards, and enhanced quality of life. The increasing number of people migrating toward urban areas has resulted in the rise in demand for advanced facilities, eventually leading to the rise in the requirement for household appliances such as microwaves.
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Countertop Microwave is Dominant in Egypt Microwave Market
The countertop segment is dominating the revenue share in the microwave oven market over the forecast period in Egypt on account of less maintenance cost as compared to the built-in microwave ovens along with its easy and affordable installation charges. Also, countertop microwaves are comparatively cheaper when compared to built-in microwaves, which is why they are majorly preferred in the residential sector.
The competitive landscape analysis provides a detailed strategic analysis of the company’s business and performance, such as financial information, revenue breakup by segment and by geography, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, and recent news. The report covers major international players operating in the Egypt microwave ovens market. In terms of market share, some of the major players currently dominate the market. Some major players present in the market include LG, Toshiba, Samsung, and many more.
- In December 2021, the LG InstaView Double Oven Range and Over-the-Range Microwave Oven are set to feature advanced cooking technologies but also useful integration with the LG ThinQ Recipe service. That service is set to offer a complete and convenient user experience that makes it easier to find recipes, plan your meals and cook with ease too.
- In March 2021, Samsung introduced new kitchen appliances range under the Baker Series microwaves. The new series of microwaves comes with features such as steaming, grilling and frying with convection features.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Insights on impact of technology and innovation in Operation in Microwave Market
4.5 Insights on Performance of Microwave Manufacturers in Egypt
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Types
5.2 By Applications
5.3 By Structure
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.2 LG Electronics
6.2.8 Fresh Electric Company
6.2.9 Gorenje Group*
7. MARKET OPPORTUNTIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
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Frequently Asked Questions
What is the study period of this market?
The Egypt Microwave Ovens Market market is studied from 2018 - 2027.
What is the growth rate of Egypt Microwave Ovens Market?
The Egypt Microwave Ovens Market is growing at a CAGR of >5.8% over the next 5 years.
Who are the key players in Egypt Microwave Ovens Market?
LG, Samsung, Toshiba, Sharp, Hoover are the major companies operating in Egypt Microwave Ovens Market.