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Urbanization Fuels The Surge In The Large Cooking Appliances Market: The Driving Engine Behind Large Cooking Appliance Market Evolution in 2025
Large Cooking Appliance Market
Large Cooking Appliance Market Size Growth Forecast: What to Expect by 2025?
In recent times, the market size of large cooking appliances has witnessed consistent growth. The market, which will expand from $34.4 billion in 2024 to $36.12 billion in 2025, is predicted to experience a compound annual growth rate (CAGR) of 5.0%. Factors like altering consumer behaviors, an emphasis on design and aesthetics, health consciousness among consumers, rapid urbanization, space limitations, and the trend of product customization and personalization have contributed to this growth during the historic period.
How Will the Large Cooking Appliance Market Size Evolve and Grow by 2029?
The market size of large cooking appliances is anticipated to experience robust growth in the coming years, expanding to $46.87 billion by 2029 with a compound annual growth rate (CAGR) of 6.7%. This anticipated expansion during the forecast period is linked to factors such as the global economic scenario, advanced safety features, the availability of customizable options, solutions for urban lifestyle, and the impact of culinary trends. The forecast period will also see key trends such as the integration of smart technologies in the kitchen, heightened demand for energy-efficient appliances, rise in health and wellness trends, focus on design and aesthetics, as well as the need for better cooking convenience.
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What Drivers Are Propelling the Growth of Large Cooking Appliance Market Forward?
The escalating trend of urbanization is predicted to fuel the advancement of the large cooking appliances market in the future. This urbanization signifies the large-scale shift in population dynamics from rural settlements to urban landscapes. The cumulative count of large cooking appliances augments due to this urban migration, escalating incomes, and the emergence of smaller households, thereby stimulating the growth of the large cooking appliances market. To illustrate, the World Bank, an internationally recognized financial institution based in the US, published an article in October 2022 stating that over half of the global population resided in urban regions as of 2022. It also projected that by 2045, the global urban populace would see a 1.5 times surge, amounting to 6 billion. Hence, the surge in urbanization is steering the growth trajectory of the large cooking appliances market.
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What Long-Term Trends Will Define the Future of the Large Cooking Appliance Market?
In the Large Cooking Appliance market, pioneering product developments have become the leading trend of interest. Companies who are the heavyweights in this market are creating novel products to bolster their standing. For example, Samsung, a company stationed in Korea that specialises in electronics, unveiled their Bespoke AI (Artificial Intelligence) Oven in 2022. The Bespoke AI Oven boasts unique features such as smart components that enhance the pleasure of consuming healthy food. Using an image-based food recognition technology, known as AI Pro Cooking5, 6, the oven adjusts its settings according to the food, promoting vigilance against overcooking. For the preparation of nutritious and savory steam-cooked food, the Bespoke AI Oven provides a selection of steam cooking alternatives.
What Are the Key Segments in the Large Cooking Appliance Market?
The large cooking appliance market covered in this report is segmented -
1) By Product: Cooktops, Ovens, Specialized Appliances
2) By Sales Channel: Brick And Mortar, E-Commerce
3) By Application: Household, Commercial
Subsegments:
1) By Cooktops: Gas Cooktops, Electric Cooktops, Induction Cooktops
2) By Ovens: Wall Ovens, Range Ovens, Convection Ovens, Microwave Ovens
3) By Specialized Appliances: Slow Cookers, Steam Ovens, Sous Vide Cookers, Griddles And Grills
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Who Are the Key Players Shaping the Large Cooking Appliance Market's Competitive Landscape?
Major companies operating in the large cooking appliance market are Samsung Electronics Co. Ltd., Whirlpool Corporation, Haier Group Corporation, Robert Bosch GmbH, AB Electrolux, GE Appliances, LG Electronics Inc., BSH Hausgeräte GmbH, Fisher & Paykel Appliances Co. Ltd., SMEG S.p.A, Miele & Cie. KG, KitchenAid, Thermador Groupe SA, Dacor LLC, Wolf Appliance, La Cornue, Bertazzoni SPA, ILVE SPA, Sub-Zero Inc., BlueStar Ltd., Capital Cooking Equipment, Tecnogas Superiore, American Range, AGA Rangemaster Ltd.
What Geographic Markets Are Powering Growth in the Large Cooking Appliance Market?
Asia-Pacific was the largest region in the large cooking appliance market in 2024. The regions covered in the large cooking appliance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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