Global Household Cooking Appliances Market to Attain US$79.8 bn by 2018 Driven by Rising Number of New Households
Transparency Market Research (TMR) has recently published a study on the global household cooking appliances market. According to the report, titled “Household Cooking Appliances Market - Global Industry Analysis, Market Size, Market Share, Growth, Trends And Forecast 2012 - 2018,” this market is likely to expand at a remarkable CAGR of 29.10% during the period from 2012 to 2018. Analysts project the market to increase from a valuation of US$56.6 bn in 2012 to an estimated value of US$79.8 bn by the end of the forecast period.
Browse the full Household Cooking Appliances Market report at https://www.transparencymarketresearch.com/household-cooking-appliances-market.html
Household cooking appliances are referred to mechanical/electrical machines used to prepare food at home. The rising number of new households, largely influenced by the increasing trend of nuclear families, has fueled the demand for household cooking appliances significantly in the global arena. However, the high costs associated with these appliances and the growing preference for ready-to-eat food are likely to limit their application in the coming years.
In this research report, the worldwide market for household cooking appliances has been evaluated on the basis of its regional distribution and the products available. On the regional basis, the market has been classified into North America, Europe, Asia Pacific, and the Rest of the World. The growing urbanization in developing Asian countries, propelled by the advancement in their economic condition, is adding significantly to the increasing number of households in this region. This factor has emerged as the key driving force behind the growth of Asia Pacific household cooking appliances market.
Additionally, the rising trend of nuclear families is expected to boost the growth rate of households in Asia Pacific, fueling the demand for household cooking appliances substantially in this region over the forecast period.
The North America household cooking appliances market is benefitting from the rising number of single households and the market in Europe is driven by the increasing adoption of induction cookware and other electricity-operated appliances. The growing awareness regarding eco-friendly, power efficient, and clean technology cooking appliances has prompted people in Europe to shift towards these products, notes the research study.
Based on the product, the report has segmented the global household cooking appliances into ovens and cooktops. The cooktop segment led the overall market in 2012 with a share of approximately 46% in terms of revenue. However, the oven segment is projected to register the fastest growth during the forecast period.
The report further categorized the cooktop segment into gas cooktop, induction cooktop, electric coil cooktop, and other cooktop and the ovens segment into microwave oven, conventional (thermal) oven, and combination oven.
Smeg, Sub-Zero Wolf, Miele & Cie. KG, Stoves Appliance Co., Fisher & Paykel Appliances Holdings Ltd., Robert Bosch Gmbh, Videocon Industries Ltd., Philips Electronics, Panasonic, LG Electronics, Haier Group Co., Whirlpool Corp., Daewoo Electronics Corp., and AB Electrolux are some of the key international producers of household cooking appliances profiled in this market report.
The global household cooking appliances market is segmented into:
- Cook-tops (Hobs)
- Gas cook-tops
- Electric coil cook tops
- Induction cook-tops
- Conventional/thermal oven
- Microwave oven
- Combination oven
- North America
- Asia Pacific
- Rest of the World
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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