Global Household Cooking Appliances Market By Products (Water purifiers, Microwave Oven, Refrigerator, Induction Stove, Dishwasher and Others ), Distribution Channel (Direct Selling and E-Commerce), Application(Built-in and Free Standing), Geography (North America, Latin America, Europe, APAC, Middle East & Africa)– Industry Trends and Forecast to 2026
Market Analysis: Global Household Cooking Appliances Market
Global Household Cooking Appliances Market is expected to rise from its initial estimated value of USD 171.17 Billion in 2018 to an estimated value of USD 282.23 Billion by 2026, registering a CAGR of 6.45% in the forecast period of 2019-2026. This rise in market value can be attributed to the increase in the disposable income within each household.
Market Definition: Global Household Cooking Appliances Market
Household cooking appliances are highly influenced by the advancing technology which gives efficient energy, good quality and the cost of the products are considered to be major factors influencing consumer preferences and purchasing patterns. These cooking appliances are used in cooking, cleaning or food preservation in domestic purpose.
- Increase in the income of the families and cumulative growth of nuclear families.
- Increase in the demand for product up-gradation, changing customer lifestyle.
- Growing number of single professionals who prefer takeaway foods rather than setting up a kitchen.
Segmentation: Global Household Cooking Appliances Market
- By Products
- Water purifiers
- Microwave Oven
- Induction Stove
- By Distribution
- Direct Selling
- By Application
- Free Standing
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- North America
Key Developments in the Market:
- In January 2018, Whirlpool merged with Amazon and Google to increase the experience of the products provided. This merger will allow families to control their appliances from anywhere in the house with simple voice commands. This unique way of interacting with the appliances will get chores done on time and on their way as well.
- In March 2017, Electrolux acquired Grindmaster $108 million USD to increase the company’s presence in the US market.
Global household cooking appliances market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of household cooking appliances market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in household cooking appliances market are AB Electrolux, Haier lnc., Hitachi, Ltd., Koninklijke Philips N.V., LG Electronics., Midea Group, Miele & Cie. KG, Robert Bosch GmbH.
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
Competitive analysis of the key players involved