Household Cooking Appliances Market - Snapshot

Home cooking appliances play a major role in the domestic life of an individual and have become an important part of the modern kitchen. Increased demand for consumer goods, specifically for household cooking appliances is expected to be highly influenced by the advancing technology globally. Technology advancements, energy efficiency, quality, enhanced designs, and cost of the products are considered to be major factors influencing consumer preferences and purchasing patterns. Furthermore, utilizing highly advanced household cooking appliances has become one of the major trends in the kitchen.

Several other factors influencing the market demand for household cooking appliances include rising number of nuclear families and working women, introduction of smart cooking equipment, and availability of energy efficient alternatives such as induction cooktops and ranges. Furthermore, the transition of devices, such as from conventional or microwave to combination modes and further to smart equipment with IoT technology is also projected to boost the market for household cooking appliances over the forecast period. Industry players are also investing heavily in R&D to develop high-performances devices with enhanced features and improved aesthetic value which is further anticipated to influence the market growth positively.

global household cooking appliances market

However, high price of these cooking appliances may act as a barrier to the industry growth in the coming years. Nevertheless, rising standard of living, increasing disposable income, and growing demand for high-end devices is projected to spur the market growth over the forecast period. Increased availability of enhanced variations in the cooktops such as electric, gas, induction cooktops, coil cooktops, and smooth surface cooktops is also anticipated to drive the market growth. Furthermore, availability of enhanced models of wall ovens and ranges with high-end features is projected to influence their demand over the forecast period.

The product segment of the household cooking appliances market is categorized into cooktops & cooking ranges, ovens, and specialized appliances. Further, cooktops & cooking ranges is divided into gas cooktops, electric coil cooktops, and induction cooktops. The oven segment is further segregated into conventional thermal ovens and microwave ovens. Further, conventional thermal ovens are categorized into static heating and hot air convection and microwave ovens is categorized into high-end microwave ovens, medium-end microwave ovens, and low-end microwave ovens. These segments are further divided into static heating and hot air convection in all the three segments. The application segment of household cooking appliances is divided into built-in and free standing.

Based on product segment, cooktops & cooking ranges are expected to contribute majorly to the growth of the household cooking appliances market in terms of revenue. The growth is attributed to the availability of technology enhanced products such as IoT enabled cooktops which can be directly monitored and controlled by the smartphone and the demand for these products is anticipated to rise steadily over the forecast period. Furthermore, gas cooktops in cooktops & cooking ranges accounted for highest market share in terms of revenue in 2017 and is expected to maintain its dominance over the forecast period. The growth is attributed to the ability of these gas cooktops to regulate temperature instantly. Induction cooktops are projected to witness enormous growth over the forecast period. These cooktops are embedded with energy efficient technology for cooking food in comparison to electric and gas cooktops and hence the market is anticipated to grow steadily in the coming years. The oven segment in the household cooking appliances market is expected to grow steadily over the forecast period due to their high capacity and increased number of non-gliding and gliding racks with various improved features. In the oven segment, microwave ovens are expected to hold major share in terms of revenue. In the application segment, free standing household cooking appliances is expected to contribute majorly to the market share over the forecast period.

Asia Pacific region is projected to contribute majorly to the market share in terms of revenue for these devices. The growth in the region is attributed to the rising demand for household cooking appliances in emerging countries due to increasing disposable income. Additionally, the increasing trend of e-commerce with the rising purchasing power of consumers is also projected to boost the market growth over the forecast period. Europe is expected to follow Asia Pacific in terms of revenue due to rising demand for technologically advanced products in the region.

Some of the major players 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.

Household Cooking Appliances Market - Overview

The household cooking appliances market report provides analysis for the period 2016–2026, wherein 2018 to 2026 is the forecast period and 2017 is the base year. The report covers all the major driving factors and key trending topics impacting the growth of the household cooking appliances market over the forecast period. It also highlights the restraints and opportunities expected to influence the market during the aforesaid period. The study provides a comprehensive outlook on the growth of the household cooking appliances market throughout the forecast period in terms of revenue (in US$ Mn), and in terms of volume (in Million Units) across different geographies, including Asia Pacific, North America, Europe, Middle East & Africa (MEA), and South America.

The report covers the entire overview of the market including the market dynamics such as drivers, restraints, opportunities, and trends that are predicted to impact the existing nature and prospective status of this market. The competitive position of the household cooking appliances market is studied through the Porter’s Five Forces Analysis. Additionally, current indicators of diverse macro-economic factors are contextualized under key market indicators.

The household cooking appliances market has been provided in terms of revenue (in US$ Mn), in terms of volume (in Million Units), as well as the CAGR (%) for the forecast period 2018 to 2026. The household cooking appliances market is a global report studied on the basis of product, application, and region.

The report also highlights the competitive landscape of the market, thereby positioning all the major players according to their geographic presence and recent key developments. The comprehensive household cooking appliances market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the growth of the household cooking appliances market. Besides, competition matrix and market share analysis have been included under the competitive landscape to understand the top players’ contribution in the market. Each company is studied on the basis of basic information, financial highlights, revenue highlights of regional contribution and segment contribution, and product portfolio. Additionally, the company strategy and recent developments if any are also incorporated under each company profile section.

Some of the major players 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.

The household cooking appliances market is segmented as follows:

Household Cooking Appliances Market

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
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • GCC
    • South Africa
    • Rest of Middle East &Africa
  • South America
    • Brazil
    • Rest of South America
.