Report Update Apr 1, 2024

Cuba - Microwave Ovens - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Microwave Oven Market 2024

Microwave Oven Market Size in Cuba

The Cuban microwave oven market contracted to $X in 2021, with a decrease of -6% 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). Overall, consumption saw a abrupt contraction. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Microwave Oven Exports

Exports from Cuba

In 2021, shipments abroad of microwave ovens decreased by 0% to X units, falling for the fourth year in a row after four years of growth. In general, exports continue to indicate a sharp curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 100% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, microwave oven exports stood at $X in 2021. Over the period under review, exports saw a deep setback. The growth pace was the most rapid in 2014 when exports increased by 181% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Panama (X units) was the main destination for microwave oven exports from Cuba, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Panama stood at -7.4%.

In value terms, Panama ($X) emerged as the key foreign market for microwave oven exports from Cuba, comprising 82% of total exports. The second position in the ranking was held by Costa Rica ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Panama totaled -4.1%.

Export Prices by Country

The average microwave oven export price stood at $X per unit in 2021, reducing by -22.9% against the previous year. Over the period under review, the export price, however, posted a buoyant expansion. The growth pace was the most rapid in 2018 when the average export price increased by 172%. Over the period under review, the average export prices hit record highs at $X per unit in 2020, and then shrank rapidly in the following year.

Average prices varied somewhat for the major export markets. In 2021, the country with the highest price was Panama ($X per unit), while the average price for exports to Costa Rica amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Microwave Oven Imports

Imports into Cuba

In 2021, after two years of growth, there was significant decline in overseas purchases of microwave ovens, when their volume decreased by -12.8% to X units. Overall, imports showed a pronounced contraction. The growth pace was the most rapid in 2014 with an increase of 194%. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, microwave oven imports contracted modestly to $X in 2021. In general, imports recorded a deep reduction. The pace of growth appeared the most rapid in 2014 with an increase of 118%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest microwave oven supplier to Cuba, with a 77% share of total imports. Moreover, microwave oven imports from China exceeded the figures recorded by the second-largest supplier, Panama (X units), threefold.

From 2012 to 2021, the average annual growth rate of volume from China stood at -4.8%.

In value terms, China ($X) constituted the largest supplier of microwave oven to Cuba, comprising 65% of total imports. The second position in the ranking was held by Panama ($X), with a 30% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled -5.8%.

Import Prices by Country

The average microwave oven import price stood at $X per unit in 2021, picking up by 11% against the previous year. Over the period under review, the import price, however, saw a perceptible shrinkage. The pace of growth was the most pronounced in 2016 an increase of 18%. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Panama ($X per unit), while the price for China totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.0%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for microwave ovens in the world?

The country with the largest volume of microwave oven consumption was China, comprising approx. 27% of total volume. Moreover, microwave oven consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. Russia ranked third in terms of total consumption with a 5.6% share.

What are the largest producers of microwave ovens in the world?

China remains the largest microwave oven producing country worldwide, accounting for 66% of total volume. Moreover, microwave oven production in China exceeded the figures recorded by the second-largest producer, Malaysia, more than tenfold. The third position in this ranking was held by India, with a 4.1% share.

What are the leading suppliers of microwave ovens to Cuba?

In value terms, China constituted the largest supplier of microwave oven to Cuba, comprising 65% of total imports. The second position in the ranking was held by Panama, with a 30% share of total imports.

What are the leading importers of microwave ovens from Cuba?

In value terms, Panama $72) emerged as the key foreign market for microwave oven exports from Cuba, comprising 82% of total exports. The second position in the ranking was held by Costa Rica $16), with an 18% share of total exports.

What is the average export price for microwave ovens in Cuba?

In 2021, the average microwave oven export price amounted to $68 per unit, which is down by -22.9% against the previous year.

What is the average import price for microwave ovens in Cuba?

In 2021, the average microwave oven import price amounted to $54 per unit, with an increase of 11% against the previous year.

This report provides an in-depth analysis of the microwave oven market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 27512700 - Domestic microwave ovens

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023