Samsung, Panasonic Corporation, And LG Electronics Were Dominating the Global Major Domestic Cooking Appliances Market in 2020

 

Global Major Domestic Cooking Appliances Market is expected to grow with a CAGR of 7.3% in the forecast period of 2021 to 2028. The years considered for the study are as mentioned below.

Access Full Report @ https://www.databridgemarketresearch.com/reports/global-major-domestic-cooking-appliances-market

Global major domestic cooking appliances market is a highly consolidated market, which includes a specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenarios.

The major players dealing in the global major domestic cooking appliances market are introducing a strong range of product portfolios. This helped companies to maximize sales with an enhanced product portfolio.

For instance,

  • In September 2021, Panasonic Corporation completed the acquisition of Blue Yonder, the leading end-to-end and digital fulfilment platform provider. With this development company is able to enhance its IoT devices and an AI-powered platform for the upcoming future
  • In December 2020, LG Electronics Inc. expanded its Health and Hygiene Range in Retail with its new LG Styler, an innovative product in the steam clothing care portfolio. The company is enhancing its availability to retail consumers to meet new lifestyles, and this development helped the company to increase its customer base

Samsung

Samsung is headquartered in Suwon, South Korea, as public ownership, and it was founded in the year 1969. The company is engaged in various types of products such as mobile, TV & audio, home appliances, smart home, and computing. The company has a wide range of product categories such as mobile, TV & audio, home appliances, smart home, computing, in which the market-focused product category is home appliances. The company has a wide global presence across Europe, Korea, the Americas, Asia-Pacific, and Africa. The company has several subsidiaries such as Samsung Electronics Service (South Korea), Harman International (U.S.), Samsung Display Co., Ltd. (South Korea), AKG (Austria), Samsung Electronics Canada (Canada), Samsung Electronics Sales Co., Ltd. (South Korea), and others.

For instance,

  • In September 2021, Samsung won 48 International Design Excellence Awards (IDEA). It shows the company's creative designs across multiple categories. With these awards, the company could attract more customers in the global market

Panasonic Corporation

Panasonic Corporation is headquartered in Osaka, Japan, as public ownership, and it was founded in 1918. The company is engaged in developing a wide range of consumer products, including audiovisual and communication products as well as various home appliances, such as air conditioning, refrigerating, cooking, and washing equipment. The company offers a wide range of product categories such as TV & AV, air solutions, home appliances, kitchen appliances, beauty & health care, cameras & camcorder, phone, fax & video intercom, battery & torchlight, out of which kitchen appliances is market focused product category. The company has a wide presence in North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The company have subsidiaries sucha as Sanyo (Japan), Panasonic U.K. Ltd. (U.K.), JVC (Japan), Panasonic System Solutions Japan Co., Ltd. (Japan), PanaHome Corporation (Japan), Viko Elektrik Ve Elektronik End. San. Ve Tic. AS. (Turkey), and others.

For instances,

  • In September 2021, Panasonic Corporation completed the acquisition of Blue Yonder, the leading end-to-end digital fulfillment platform provider. With this development company is able to enhance its IoT devices and an AI-powered platform for the upcoming future
  • In March 2021, Panasonic Corporation accelerated new businesses in Thailand to enter the modular construction housing market with new innovative products. With this development company is expecting to enhance its revenue in upcoming future

LG Electronics

LG Electronics is headquartered in Seoul, South Korea, as public ownership, and it was founded in 1958. The company is engaged in the manufacturing, developing, and commercializing of innovative electronics products for the consumer lifestyle. The company offers a wide range of product categories such as audio, TV/video, kitchen, laundry, other appliances, computers, solar, small business, out of which kitchen is the market-focused category. The company has a wide presence in Europe, North America, South America, and Asia-Pacific. The company has subsidiaries such as LG Electronics (South Korea), LG UPLUS (South Korea), LG CHEM (South Korea), LG Display (South Korea), LG CNS (South Korea), LX Hldgs (South Korea), LG Household & Healthcare (South Korea), GIIR Inc. (South Korea), and others.

For instance,

  • In September. LG Electronics Inc. acquired Cybellum, a leading vehicle cybersecurity risk assessment solution provider. The deal allows LG to assume an approximate 64 percent stake in the tech company valued at USD 140 million. It will enhance LG's cybersecurity capabilities and accelerate its efforts to become an innovation partner for future mobility
  • In July, LG Electronics Inc. and Magna International Inc. (Magna) signed the transaction agreement, which established a joint venture between the two companies. The new company, to be called LG Magna e-Powertrain. With this development company is enhancing its market share across the globe with joint ventures