Boston, MA -- (ReleaseWire) -- 07/10/2014 -- Microwaves was in a somewhat vulnerable stage at the end of the review period, where there was a constant and increasing need for the product, but was easily replaceable at the same time. Microwave function is added in most multi-purpose ovens these days, lowering the demand for microwaves and a shift to towards the latter. In addition, the microwave is one consumer appliance which consumers do not feel reluctant about using second hand or purchasing online.
Domestic manufacturers lead microwaves. The top five players are domestic companies, which held 98% volume share as of 2013. LG Corp led domestic manufacturers with 48% volume share. Tong Yang Magic Co Ltd gained share with economic price advantage and simple function.
Double-income households are growing and the increase of working women is expected to keep up the consumer demand for microwaves. However, there is a potential threat for microwaves, as it is often offered as a complimentary gift for those that purchase a full set of major appliances. For instance, if a consumer purchases four major appliances; refrigeration appliances, home laundry appliance, air treatment appliance, and television, the retailer offers a microwave for free. Such bulk purchases are often made by newly wedded couples, who most likely need microwaves as the younger generation show a high percentage of double incomes.
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