The household cooking appliance global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Household Cooking Appliance Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The household cooking appliance market size has grown strongly in recent years. It will grow from $136.89 billion in 2023 to $147.49 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to electrification of households, changing lifestyles, energy efficiency and safety standards, rising home improvement costs, adoption of modular kitchens.
The household cooking appliance market size is expected to see strong growth in the next few years. It will grow to $193.36 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to smart home integration, sustainability and energy efficiency, health and wellness trends, increased home cooking, urbanization and smaller living spaces. Major trends in the forecast period include induction cooking, multifunctional appliances, sustainable materials, voice and app control, retro and vintage designs.
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Scope Of Household Cooking Appliance Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Household Cooking Appliance Market Overview
Market Drivers –
The growing popularity of energy-efficient cooking appliances is expected to increase the demand for electric stoves. The cooking efficiency of electric stoves is high when compared to gas cooktops as the majority of the heat energy through gas cooktops is not transferred while cooking. Electric stoves are designed to consume minimum energy and provide easy temperature control. For instance, with the introduction of energy-efficient appliances, the US government is spending 56% less on energy requirements thereby reducing emissions.
Market Trends –
Companies in the household cooking appliance market are increasingly launching technologically advanced multi-functional ovens to cater to the rising demand for multi-functional appliances with additional benefits. These multi-functional ovens use a wide range of methods to provide customized and easy cooking. These ovens use devices to guide and instruct users in the process of cooking. Apart from these, they also come with catalytic and pyrolytic self-cleaning functions. The catalytic self-cleaning feature allows the use of special chemically installed liners to absorb grease, while the pyrolytic self-cleaning function of these ovens allows them to clean the dirt and grease using high temperatures. For instance, Electrolux’s EOY5851AAX oven uses different programs and functions to make the process of cooking easy and customized. It has pyrolytic cleaning technology that allows self-cleaning.
The household cooking appliance market covered in this report is segmented –
1) By Product: Electric Stoves, Microwave Ovens, Barbecues And Grills, Others – Household Cooking Appliance
2) By Fuel Type: Cooking Gas, Electricity
3) By Application: Household, Commercial
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Regional Insights –
Asia-Pacific was the largest region in the household cooking appliances market in 2023. Western Europe was the second-largest region in the household cooking appliance market analysis. The regions covered in the household cooking appliance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the household cooking appliance market include LG Electronics Inc, Electrolux AB, Panasonic, Haier Group, Whirlpool Corporation, SMEG S.p.A., Kenmore, Samsung Electronics, Galanz Enterprise Group, Koninklijke Philips N.V., Alto-Shaam Inc, Robert Bosch GmbH, The Coleman Company Inc, Spectrum Brands Holdings Inc., Amana, Miele & Cie. KG, General Electric Company (GE), The Middleby Corporation LLC, Char-Broil LLC, Midea Group Co. Ltd., Frigidaire, KitchenAid, Sears Holdings Corporation, Broilmaster, Traeger Inc., Empire Comfort Systems Inc., Blackstone Products Inc., Groupe SEB, TTK Prestige Ltd., BSH Hausgeräte GmbH, Arcelik A.S., Gorenje Group
Table of Contents
1. Executive Summary
2. Household Cooking Appliance Market Report Structure
3. Household Cooking Appliance Market Trends And Strategies
4. Household Cooking Appliance Market – Macro Economic Scenario
5. Household Cooking Appliance Market Size And Growth
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27. Household Cooking Appliance Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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