What's driving the Household Cooking Appliance Market Size? Electrolux AB, Winia Daewoo (Dongbu Daewoo Electronics), Whirlpool Corporation, Haier Group Corporation, LG Electronics Inc., Panasonic Corporation, Philips Electronics, Robert Bosch GmbH, Fisher
Global Household Cooking Appliance Market is valued approximately USD 85.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.5% over the forecast period 2020-2026. Household cooking appliances include microwave ovens, electric stoves, barbeques and grills, and others, which helps in meeting the basic needs of consumers, i.e., food. Due to COID-19 various industries and manufacturing sectors have been shut temporarily, the household cooking appliances market is also facing various challenges across the world. The rising number of nuclear families and more working women and induction as a better alternative to gas or electric cooktops are the few factors responsible for growth of the market over the forecast period.
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Moreover, rising adoption of customer towards latest technology which help in food preparation easily and quickly as well as changing lifestyles and increasing disposable income are encouraging consumers to buy fancier cooking appliances, driving the growth of this market. Furthermore, technological advancements and other strategic alliance by various market player will create a lucrative demand for this market. For instance, as per company's news release on 20th March 2019, Electrolux AB launched a new kitchen range in Europe, by combining technology with human-centric Scandinavian design. The Electrolux kitchen range includes hobs, ovens, fridges, freezers, dishwashers and hoods with the simplicity of Scandinavian design to offer a seamless aesthetic with attention to detail and ergonomics, making the products user friendly for customer. However, high prices of these appliances is the major factor restraining the growth of global Household Cooking Appliance market during the forecast period.
The regional analysis of global Household Cooking Appliance market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world due to the increased demand for cooking equipment in this region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026.
Major market player included in this report are:
Winia Daewoo (Dongbu Daewoo Electronics)
Haier Group Corporation
LG Electronics Inc.
Robert Bosch GmbH
Fisher & Paykel Appliances Holdings Ltd
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Cooktops & cooking ranges
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