Eastern Asia: Microwave Oven Market 2025

Microwave Oven Market Size in Eastern Asia

After two years of decline, the East Asian microwave oven market increased by 23% to $X in 2022. The market value increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Microwave Oven Production in Eastern Asia

In value terms, microwave oven production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 11% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Microwave Oven Exports

Exports in Eastern Asia

After five years of growth, overseas shipments of microwave ovens decreased by -16.7% to X units in 2022. Total exports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 39% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2021, and then contracted remarkably in the following year.

In value terms, microwave oven exports fell to $X in 2022. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 18% against the previous year. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

The shipments of the one major exporters of microwave ovens, namely China, represented more than two-thirds of total export.

China was also the fastest-growing in terms of the microwave ovens exports, with a CAGR of +1.2% from 2012 to 2022. China (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest microwave oven supplier in Eastern Asia.

In China, microwave oven exports increased at an average annual rate of +2.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, increasing by 7.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2016 when the export price increased by 39%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +1.6% per year.

Microwave Oven Imports

Imports in Eastern Asia

In 2022, the amount of microwave ovens imported in Eastern Asia was estimated at X units, surging by 4.6% against 2021. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 14% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, microwave oven imports expanded rapidly to $X in 2022. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 12%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, Japan (X units) represented the key importer of microwave ovens, constituting 71% of total imports. South Korea (X units) took the second position in the ranking, distantly followed by Taiwan (Chinese) (X units). All these countries together took near 25% share of total imports. Hong Kong SAR (X units) followed a long way behind the leaders.

Imports into Japan increased at an average annual rate of +2.6% from 2012 to 2022. At the same time, South Korea (+11.3%) and Taiwan (Chinese) (+4.8%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +11.3% from 2012-2022. By contrast, Hong Kong SAR (-1.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea increased by +10 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported microwave ovens in Eastern Asia, comprising 71% of total imports. The second position in the ranking was taken by South Korea ($X), with a 20% share of total imports. It was followed by Taiwan (Chinese), with a 3.5% share.

In Japan, microwave oven imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+12.7% per year) and Taiwan (Chinese) (+4.0% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per unit, almost unchanged from the previous year. Over the period under review, the import price, however, continues to indicate a mild decline. The most prominent rate of growth was recorded in 2021 when the import price increased by 9% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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