IndexBox has just published a new report: ‘U.S. – Microwave Ovens – Market Analysis, Forecast, Size, Trends and Insights‘. Here is a summary of the report’s key findings.
Despite global logistical tensions amid the sharp container shortage, the U.S. continues to boosts microwave oven imports. Last year, American purchases spiked by +16.3% to $1.6B, reaching the highest level ever. In the first seven months of 2021, American imports reached 12.9M units, exceeding last year’s 12.1M units over the same period. China dominates American imports, supplying 95% of the total volume. In 2020, Chinese shipments to the U.S. jumped by +29% y-o-y to 22M units, while Malaysia saw a 19%-decline in supplies. Chinese microwave ovens thus drive out Malaysian products from the American market.
American Microwave Oven Imports
In 2020, microwave oven imports into the U.S. surged to 23M units, increasing by +25% against the previous year’s figure. In value terms, microwave oven imports rose by +16.3% y-o-y to $1.6B (IndexBox estimates) in 2020. In the first seven months of 2021, American purchases reached 12.9M units against 12.1M units imported over the same period of 2020.
In 2020, China (22M units) was the main microwave oven supplier to the U.S., with a 95% share of total imports. Moreover, microwave oven imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (1.2M units), more than tenfold.
In physical terms, Chinese supplies rose by +29% y-o-y in 2020. This year, imports from China continue to grow: over the first seven months of 2021, Chinese import volume reached 12.2M units, exceeding by +6.7% the figures of the same period of 2020.
Imports from Malaysia fell by -18% y-o-y last year. In the first half of 2021, Malaysian supplies tended to decline.
In value terms, China ($1.5B) constituted the largest supplier of microwave ovens to the U.S., comprising 89% of total imports. The second position in the ranking was occupied by Malaysia ($156M), with a 9.5% share of total imports.
In 2020, the average microwave oven import price amounted to $70 per unit, shrinking by -6.9% against the previous year. There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Malaysia ($132 per unit), while the price for China stood at $66 per unit. In 2020, the most notable rate of growth in terms of prices was attained by Malaysia.
Source: IndexBox Platform
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