Microwave Oven Market Overview in Iceland
Market Overview
For the fifth consecutive year, the Icelandic microwave oven market recorded growth in sales value, which increased by 
% to $ in 2019. In general, consumption continues to indicate a pronounced increase. The most prominent rate of growth was recorded in 2017 when the market value increased by % against the previous year. Microwave oven consumption peaked in 2019 and is likely to continue growth in years to come.
% to $ in 2019. In general, consumption continues to indicate a pronounced increase. The most prominent rate of growth was recorded in 2017 when the market value increased by % against the previous year. Microwave oven consumption peaked in 2019 and is likely to continue growth in years to come.Consumption
In 2019, the amount of microwave ovens consumed in Iceland surged to units, rising by % against 2018 figures. Overall, consumption continues to indicate a notable expansion. The most prominent rate of growth was recorded in 2017 with an increase of % against the previous year. Microwave oven consumption peaked in 2019 and is expected to retain growth in the immediate term.
The size of the microwave oven market in Iceland soared to $ in 2019, jumping by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed perceptible growth. The growth pace was the most rapid in 2017 with an increase of % y-o-y. Microwave oven consumption peaked in 2019 and is expected to retain growth in the near future.
units, rising by % against 2018 figures. Overall, consumption continues to indicate a notable expansion. The most prominent rate of growth was recorded in 2017 with an increase of % against the previous year. Microwave oven consumption peaked in 2019 and is expected to retain growth in the immediate term.The size of the microwave oven market in Iceland soared to $
in 2019, jumping by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed perceptible growth. The growth pace was the most rapid in 2017 with an increase of % y-o-y. Microwave oven consumption peaked in 2019 and is expected to retain growth in the near future.Market Forecast
The microwave oven market is expected to start a downward consumption trend over the next decade. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eleven-year period from 2019 to , which is projected to depress the market volume to units by the end of .
% for the eleven-year period from 2019 to , which is projected to depress the market volume to units by the end of .Trade Balance
Iceland remains a net importer of microwave oven; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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