Technology Set to Play Key Role in Growth of Household Cooking Appliances Market as Demand for Smart Products Increases from 2018 to 2026, Notes TMR

- Demand for energy efficient cooking appliances is growing in the global household cooking appliances market, leading players towards innovation

- Increase in disposable incomes, particularly due to an increase in number of women in workforce, is set to push the market on to a higher growth trajectory from 2018 to 2026

News provided by

Transparency Market Research

Jun 03, 2020, 05:30 ET

ALBANY, New York, June 3, 2020 /PRNewswire/ -- The global household cooking appliances market is growing at a steady pace and this is an outcome of multiple trends and drivers that are marking its landscape. From 2018 to 2026, the market will record a growth rate of 6.1%, compounded annually. It is quite interesting to note here that this will lead the market to a notable worth of USD 110.58 billion by the end of the forecast period.

As per Transparency Market Research, "One of the biggest factors of growth in the global household cooking appliances market is growth in dual-income families - where both adults of a family work for a living. This is particularly true of nuclear family set-ups, which are seeing an increase world over, even in countries where joint families were the norm."

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Key Findings of Global Household Cooking Appliances Market Study:

Cooktops and cooking ranges to contribute significantly to growth in the market owing to technological advancement
Induction cooktops to chart notable CAGR over the next few years; gas cooktops to hold sizeable revenue share in the period
Asia Pacific to grow at a sturdy rate over the forecast period

Get research-based insights and factual information about the growth of the Household Cooking Appliances Market (Product - Cooktops and Cooking Ranges (Gas Cooktops, Electrical Coil Cooktops, Induction Cooktops), Ovens (Conventional/ Thermal Ovens (Static Heating, Hot Air Convection), Microwave Ovens ( High-end Microwave Oven - Static Heating, Hot Air Convection, Medium-end Microwave Oven - Static Heating, Hot Air Convection, Low-end Microwave Oven - Static Heating, Hot Air Convection), Specialized Appliances; Application - Built-in, Free Standing) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026 at https://www.transparencymarketresearch.com/household-cooking-appliances-market.html

Key Drivers of Growth in Global Household Cooking Appliances Market:

Transparency Market Research notes that a number of factors are helping the global household cooking appliances market grow over the stated forecast period. A synopsis of some of the prominent trends and drivers is provided below

Number of women in the workforce is increasing every year at a notable pace and this is leading to increased demand for products that can ease work in the kitchen
Increase in nuclear families, coupled with dual income set-ups is paving way for a higher growth in the future
Disposable incomes are high in developed countries and increasing steadily in developing regions such as nations in the Asia Pacific – promising new opportunities in the market
Demand for smart and energy efficient products is growing, leading players to focus upon innovation, propelling market forward over the forecast period
Technology and innovation would be the cornerstone of growth for individual players as well as the market at large, as demand for better product grows

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Regional Analysis of Global Household Cooking Appliances Market:

A major contribution towards revenue growth in the market would come from Asia Pacific (APAC) region
Increasing disposable income – a product of robust economic growth – is leading to higher demand for these products in this region
Europe to follow APAC in terms of revenue share in the global market owing to high disposable income and growing adoption of technology into everyday life

Analyze global household cooking appliances market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

Competitive Landscape of Global Household Cooking Appliances Market:

Top names in the global household cooking appliances market are Electrolux AB, Haier Group Corporation, Hitachi, Ltd., Koninklijke Philips N.V., LG Electronics Inc., Midea Group, Miele & Cie. KG, Robert Bosch GmbH, Samsung Group, and The Whirlpool Corporation. A comprehensive profiling is done of these players in terms of company details, strategic navigation, financial maneuvers, and beyond by Transparency Market Research in its report.

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Household Cooking Appliances Market: Segmentation

By Product

Cooktops & Cooking Ranges

Gas Cooktops
Electrical Coil Cooktops
Induction Cooktops

Ovens

Conventional/ Thermal Ovens

Static Heating
Hot Air Convection

Microwave Ovens

High-end Microwave Oven

Static Heating
Hot Air Convection

Medium-end Microwave Oven

Static Heating
Hot Air Convection

Low-end Microwave Oven

Static Heating
Hot Air Convection

Specialized Appliances

By Application

Built-in
Free Standing

By Geography

North America

U.S.
Canada

Europe

U.K.
Germany
France
Italy
Spain
Rest of Europe

Asia Pacific

China
Japan
Rest of Asia Pacific

Middle East & Africa (MEA)

GCC
South Africa
Rest of Middle East & Africa

South America

Brazil
Rest of South America

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