Press release
Global Household Cooking Appliances Market Set for Rapid Growth by 2024
Household Cooking Appliances Market
High demand for consumer goods, particularly household cooking appliances, is increasing mainly due to influencing and advancing technology all around the world. The enhanced designs and improved efficiency provided by the technological advancements are playing a crucial role in the increasing adoption of household cooking appliances all around the world. Utilizing highly advanced household cooking appliances has also become a new trend among today’s women.
Global Household Cooking Appliances Market: Growth Factors
Changing climatic conditions and decreasing growth of natural resources in industrialization result in growing infrastructural inceptions; this, in turn, is expected to increase the energy demand during heat waves. In addition, severe climatic changes are expected to impact the water level. Rising global population and the changing living standards are other factors that have swiftly inclined people’ lifestyles and further have impacted the time required to finish all household tasks. In addition, rising number of working women has increased and families getting more stable in financial terms. Therefore, families think it is affordable to invest in cooking appliances with high technology, which saves time as well as simplifies intricate cooking tasks.
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Global Household Cooking Appliances Market: Segmentation
The global household cooking appliances market is segmented on the basis of product type and region. Base on the product type, the global market is segmented as cooking ranges and cooktops, ovens, and specialized appliances. The cooking ranges and cooktops segment is further segmented as a gas cooktop, induction cooktop, and electric cooktop. The ovens segment is further categorized as microwave, conventional, and combination. Geographically, the global household cooking appliances market is bifurcated as North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
Global Household Cooking Appliances Market: Regional Analysis
Europe is anticipated to dominate the global household cooking appliances market mainly owing to increasing technologically advanced products demand in this region. This has resulted in Europe acquiring the foremost position amid all the regional markets. North America and Asia Pacific are further expected to witness considerable growth in the household cooking appliances demand in the coming years.
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Rising trend of using niche technically advanced cooking appliances rather than the conventional cooking appliances is anticipated to boost the global household cooking appliances market in North America. The introduction of e-commerce sector is another factor driving the growth of the global market in Asia Pacific region. Increasing purchasing power of the consumers is further anticipated to propel the global household cooking appliances market in Asia Pacific in the coming years.
Global Household Cooking Appliances Market: Competitive Players
Some of the prominent players in the global household cooking appliances market are LG Electronics, Miele Group, Samsung Electronics Co. Ltd., Whirlpool Corporation, Philips (Koninklijke Philips N.V.), Midea Group Co. Ltd., Hitachi Appliances Inc., Haier Group Co. Ltd. (GE Appliances) AB Electrolux, and Robert Bosch GmbH.
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