San Francisco, 24 December 2018, Household
Cooking Appliances Market Analysis By Product [Cooktops & Cooking Ranges
(Gas, Electrical, Induction); Ovens (Conventional, Microwave, Combination);
Specialized Appliances], By Region, And Segment Forecasts, 2018 – 2024
The global household cooking appliances market size
is anticipated to reach USD 116.82 billion by 2024, according to a new report
by Grand View Research, Inc. A blend of numerous aspects such as increasing
preference toward nuclear family set-ups, a high proportion of employed women,
and induction technology being characterized by a higher degree of
energy-efficiency as compared to conventional gas, is expected to drive growth
over the forecast period.
Every cooktop has a lifespan
beyond which its efficiency deteriorates; they need to be typically replaced
after approximately 13-15 years. The constant need for newer replacements and
increased demand from the youth for technologically advanced home appliances
are anticipated to play a pivotal role in market growth.
The household cooking
appliances market is expected to undergo various developments due to the
changing consumer lifestyles, socio-economic factors, and macroeconomic
factors. Macroeconomic indicators, such as the rising population, consequent
increase in disposable income, and rising consumer awareness, are the key
factors expected to influence the cooking appliances business favorably.
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Report On Household Cooking Appliances Market Analysis:
Further key findings from the report suggest:
·
Induction cooktops are
anticipated to grow at a CAGR of close to 7% over the forecast period, which
can be attributed to their high speed, better energy efficiency, enhanced
safety, greater degree of control, and easy cleaning & maintenance as
compared to their gas and electric counterparts
·
Revenue from ovens is expected
to reach over USD 40 billion by 2024. In the oven product segment, the revenue
share of conventional ovens is expected to fall whereas microwave and
combination ovens are expected to gain prominence
·
Key participants are
emphasizing on product innovation to differentiate themselves from their
competitors; for instance, Electrolux AB launched a prototype for an in-oven
cam, which is a built-in camera inside the oven to monitor food
·
Key players are partnering with
the leading food technology innovators to provide inbuilt automated cooking and
digital recopies in their appliances; these companies are also partnering with
operating system developers to connect their products with smartphones using
the IoT technology
·
Asia Pacific is expected to
account for the highest revenue share by 2024 due to the rising disposable
income of the population in emerging countries; South America is also
anticipated to witness substantial growth
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/electronic-devices
Grand View Research has segmented the
global household cooking appliances market by product and region.
Product Outlook (Revenue, USD
Million; 2014 - 2024)
·
Cooktops & Cooking Ranges
o
Gas cooktops
o
Electric cooktops
o
Induction cooktops
o
Others
·
Ovens
o
Conventional
o
Microwave
o
Combination
·
Specialized Appliances
Regional Outlook (Revenue, USD
Million; 2014 - 2024)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
China
o
India
o
Japan
·
South America
o
Brazil
·
Middle East & Africa
Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/global-household-cooking-appliances-market
www.grandviewresearch.com/press-release/global-household-cooking-appliances-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: www.grandviewresearch.com/
