Electric Ranges Market Expected to Grow at CAGR 5.2% by 2024 |Industry Trends, Types and Top Key Players (Bosch, Whirlpool, Electrolux)

The worldwide market for Electric Ranges is expected to grow at a CAGR of roughly 5.2% over the next five years, will reach 10500 million US$ in 2024, from 7740 million US$ in 2019, according to a new study.

An electric stove or electric range is a stove with an integrated electrical heating device to cook and bake. Electric stoves became popular as replacements for solid-fuel (wood or coal) stoves which required more labor to operate and maintain. Some modern stoves come in a unit with built-in extractor hoods.

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As the downstream consumption usually follows with developed and rapid economic growth areas, such as BRICS, the developed areas’ company prefers investing to underdevelopment regions these years. In the long run, urbanization is expected to drive steady expansion in the kitchen appliance industry.

As of 2016, China’s urbanization rate stood at 57.4% and is projected to go up by about one percentage point annually. Advances in urbanization, the real estate market and smart home appliances are conducive to the development of the kitchen appliance market.

Report Covers Market Segment by Manufacturers:
•GE Appliances (Haier)
•Whirlpool
•Electrolux
•Sears Holdings Corporation
•Samsung
•LG Electronics
•Peerless Premier Appliance
•Bosch
•….

Global Electric Ranges Industry is spread across 119 pages, profiling 14 top companies and supported with tables and figures.

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Market Segment by Regions, regional analysis covers
•North America (United States, Canada and Mexico)
•Europe (Germany, France, UK, Russia and Italy)
•Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
•South America (Brazil, Argentina, Colombia etc.)
•Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Market Segment by Type, covers:
•By Width
•20 Inch
•24 Inch
•27 Inch
•30 Inch
•Others

Market Segment by Applications, can be divided into:
•Residential
•Commercial

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The high price of contemporary devices may pose a barrier to their demand. However, with the increased disposable income of people and rising standard of living, the demand for high-end devices is expected to increase over time. Also, the growing number of single professionals or students who prefer takeaway food rather than setting up their kitchen may pose a barrier. However, the demand for these devices has been robust in the past and is projected to grow further.

The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow downward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.

Electric Ranges Market 2019 Global Industry Research report providing information and analysis of the Electric Ranges market size, growth, share, segments and technologies, key trends, challenges, deployment models, opportunities and forecast to 2025.
This report focuses on the Electric Ranges in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.

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