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Large Cooking Appliance Market Analysis 2023-2032 Future Scope, Business Growth, Production Analysis And Major Players: Samsung Electronics Co. Ltd., Whirlpool Corporation, Koninklijke Philips N.V., Haier Group Corporation, Robert Bosch GmbH
Large Cooking Appliance Market
The Business Research Company's Template Global Market Report 2023 identifies growth in urbanization as the major driver for the Large Cooking Appliance Market's growth in the forecast period. The total number of large cooking appliances rises as a result of urbanization, income growth, and smaller households, hence growing urbanization is boosting the large cooking appliances market.
The global large cooking appliance market size is expected to grow from $30.36 billion in 2022 to $32.72 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The large cooking appliance market size is expected to grow to $43.09 billion in 2027 at a CAGR of 7.1%.
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Major competitors in the large cooking appliance market are Samsung Electronics Co. Ltd., Whirlpool Corporation, Koninklijke Philips N.V., Haier Group Corporation, Robert Bosch GmbH, Morphy Richards, Hitachi Appliances Inc., AB Electrolux, GE Appliances, LG Electronics Inc., BSH Hausgeräte GmbH, Panasonic Corporation, Fisher & Paykel Appliances Co.Ltd., SMEG S.p.A, and Miele & Cie. KG.
A key trend in the Large Cooking Appliance Market includes Product innovations. Major companies operating in the Large Cooking appliance market are developing innovative products to strengthen their position in the market. For instance, in 2022, Samsung, a Korea-based producer of electronic devices launched Bespoke AI (artificial intelligence) Oven. Bespoke AI Oven's unique characteristics include intelligent elements that improve the enjoyment of wholesome food. Using image-oriented food recognition technology, AI Pro Cooking5, 6 optimizes oven cook settings while keeping an eye on food to avoid meals from becoming overcooked. To make nourishing and delicious steamed dishes, the Bespoke AI Oven has a variety of steam cooking options.
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The Large Cooking Appliance Market is segmented -
By Product: Cooktops, Ovens, Specialized Appliances
By Sales Channel: Brick And Mortar, E-Commerce
By Application: Household, Commercial
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Large Cooking Appliance Market.
The Business Research Company's "Global Large Cooking Appliance Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Large Cooking Appliance Market Include:
1. Large Cooking Appliance Market Executive Summary
2. Large Cooking Appliance Market Segments
3. Large Cooking Appliance Market Size And Large Cooking Appliance Market Growth Rate
4. Key Large Cooking Appliance Market Trends
5. Major Large Cooking Appliance Market Drivers
……
25. Key Mergers And Acquisitions In The Large Cooking Appliance Market
26. Top Template Companies
27. Large Cooking Appliance Market Opportunities And Strategies
28. Large Cooking Appliance Market, Conclusions And Recommendations
29. Appendix
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