Trade Trends
Global exports of microwave ovens increased from $4.19B in 2019 to $4.74B in 2023, representing a 13.07% growth over the five-year period. Export values peaked at $5.49B in 2021 before moderating in the following years.
This measured growth reflects shifting consumer lifestyles, continuous product innovation, and changes in global manufacturing and sourcing strategies. The 2021 peak was largely driven by elevated household appliance demand during pandemic-related lockdowns, as consumers invested more in home cooking solutions. The pullback in 2022 and 2023 indicates market normalization, inventory adjustments, and ongoing supply chain realignments.
Top Trading Countries
- China maintained its position as the world’s largest exporter, shipping $3.33B in 2023, up from $2.90B in 2019. This represents a 14.91% increase from 2019 to 2023, with exports rising further to $3.46B in 2024, a 3.68% increase from 2023.
- Malaysia followed with exports of $456.22M in 2023, up from $400.01M in 2019, reflecting a 14.05% rise. However, exports declined by 5.11% in 2024 to $432.91M.
- Thailand exported $200.48M in 2023, slightly higher than $194.89M in 2019, marking a modest 2.87% increase. Exports dropped by 13.04% in 2024, reaching $174.34M.
- Germany recorded $121.72M in exports in 2023, down from $127.87M in 2019, reflecting a 4.81% decrease. Exports showed a mild recovery in 2024, increasing by 2.61% to $124.90M.
- United Kingdom posted $100.45M in 2023, marginally above $99.44M in 2019, a 1.01% increase. Exports declined by 7.99% in 2024 to $92.42M.
On the Rise
- Spain emerged as a high-growth exporter, expanding from $9.97M in 2019 to $22.03M in 2023, a strong 120.94% increase. Growth continued in 2024, with exports rising slightly by 1.13% to $22.27M.
- Czech Republic also showed solid momentum, increasing exports from $9.26M in 2019 to $12.21M in 2023, reflecting a 31.83% rise. Exports grew further by 3.15% in 2024, reaching $12.59M.
These emerging exporters highlight increasing diversification within the global microwave oven market, supported by growing manufacturing capacity and strategic integration into international supply chains.
Disclaimer
These insights are based on available trade data and may not represent the full market reality.
