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

Nachrichtenquelle: PR Newswire (engl.)
03.06.2020, 11:36  |  107   |   |   

- 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

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.

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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.

View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/440

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 

Explore Transparency Market Research's award-winning coverage of the Global Consumer Goods & Services Industry:

Household Vacuum Cleaners Market – The global household vacuum cleaners market is expected to reach a value of US$ 18,936.9 Mn by 2026. The market is estimated to expand at a CAGR of 4.7% during the forecast period from 2018 to 2026. In terms of volume, the market is expected to reach over 79.1 million units at a CAGR of approximately 4.5% by 2026.The household vacuum cleaners market in Asia Pacific is projected to expand at a rapid pace during the forecast period.

Household Cleaners Market – The global household cleaners market is predicted to be valued at US$39,400.9 mn by 2024 from US$27,468.6 mn in 2015 at a CAGR of 4.1% therein. Product-wise, specialty cleaners held the leading 60% market share in 2015. On the basis of geography, North America stood at the fore in the global market in 2015. However, in the coming years, Asia Pacific is predicted to surpass in terms of market share.

Household Robots Market – Recent innovations have created ample growth opportunities for the already existing companies as well as new market entrants who desire to make it big in the global household robots market. However, the market for household robots is still in the nascent stage and is anticipated to grow manifold in the years to come.

Wipes Market – Growing awareness about specialty wipes rather than traditional wipes & the hygiene overview is providing growing opportunity for wipes market. Cleanliness and sanitation in retail shops and in other facilities is one of the important factors in attracting new customers and retaining existing customers. Consumers especially in food-joints remember the quality, hygiene and ambience of the place. Unpleasant experiences lead to loss of customer.

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About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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