San Francisco, 1 April 2019: The Report 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.
Access Research Report of Household Cooking Appliances Market
@ http://www.grandviewresearch.com/industry-analysis/household-cooking-appliances-market
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: https://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
·
Ovens
·
Specialized Appliances
Regional Outlook (Revenue, USD Million;
2014 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
South America
·
Middle East & Africa
Access Press Release of
Household Cooking Appliances Market@ https://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.
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