The global Household Cooking Appliance market size is expected to be worth around US$ 531.61 billion by 2030, according to a new report by Vision Research Reports.
The global Household Cooking Appliance market size was valued at US$ 301.22 billion in 2020 and is anticipated to grow at a CAGR of 10.5% during forecast period 2021 to 2030.
Changing consumer spending patterns, rising levels of disposable income, an increasing number of working women, growing number of nuclear household families, and rising preference for home automation are some of the factors that are expected to drive market growth.
Advances in the latest technologies, such as (IoT) and (AI), have been playing a vital role in driving the growth of the market. The demand for smart, energy-efficient, and easy-to-use cooking appliances has been particularly on the rise in households over the past few years. Household cooking appliances integrated with IoT can be controlled remotely using smartphones and tablets via Bluetooth or Wi-Fi. On the other hand, AI-powered household cooking appliances can potentially ease meal preparation for individuals. For instance, Robert Bosch GmbH’s smart ovens support Wi-Fi connectivity. Consumers can give cooking instructions to these ovens using Alexa, the cloud-based voice service by Amazon.com, Inc.
The growing popularity of the smart home concept has triggered a paradigm shift in consumer preference from conventional to connected cooking appliances. Smart cooking appliances allow household consumers to remotely set various parameters, such as temperature and preparation time. Consumers can communicate with these household appliances via smartphones or AI-enabled voice assistants and control their operations remotely.
The cooktops and cooking ranges segment accounted for the largest revenue share of over 55.0% of the overall household cooking appliance market in 2020. The latest household cooktops and cooking ranges are available in different sizes, are easy to install, and feature easy-to-use features. Hence, they have gained popularity among consumers and opened business opportunities, especially in North America and Europe. The segment has been further segmented into gas, electrical, and induction cooktops and cooking ranges. feature digital temperature control panels that help in saving time and reducing energy consumption. Hence, modern households particularly prefer induction cooktops.
The freestanding segment accounted for a revenue share of 60.0% in 2020. Freestanding appliances are cheaper as compared to built-in household counterparts. Spare parts of freestanding household products are also available easily. Although freestanding household appliances require more space in the kitchen, they are preferred because customers can buy the products of their choice depending on the space available in their kitchen. Freestanding household products are also easy to clean and maintain.
The e-commerce segment is anticipated to register the highest CAGR of around 20.0% over the forecast period. Household cooking appliance buyers prefer e-commerce websites owing to the ease of buying and competitive pricing. The e-commerce channel is anticipated to outpace retail sales in recent years, and hence, turning out to be a major concern for retailers. As such, retailers are pursuing innovative strategies to cope with the changing situation. They are particularly partnering with e-commerce websites and providing 'buy-online and pick-up in store' facilities to promote both the sales channels household appliances.
Asia Pacific dominated the market in 2020 with a revenue share of around 50.0%. The region has emerged as a major production hub for household kitchen appliance manufacturers due to the low labor costs and availability of raw materials at competitive prices. As a result, leading manufacturers from other regions are also expanding their business operations in the Asia Pacific region. Continued urbanization, the growing purchasing power of consumers, gradually changing lifestyles, and early adoption of innovative technologies are expected to drive the growth of the regional market over the forecast period.
|Market Size||US$ 531.61 billion by 2030|
CAGR of 10.5% From 2021 to 2030
|Forecast Period||2021 to 2030|
|Segments Covered||Product, Structure, Distribution Channel, Region|
|Companies Mentioned||Whirlpool Corporation, AB Electrolux, Haier Group, Samsung, LG Electronics, Robert Bosch GmbH|
Robert Bosch GmbH
Cooktops & Cooking Ranges
Gas Cooktops & Cooking Ranges
Electrical Cooktops & Cooking Ranges
Induction Cooktops & Cooking Ranges
Conventional & Convection Ovens
Distribution Channel Outlook
Brick & Mortar
Middle East & Africa
The Household Cooking Appliance market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Household Cooking Appliance market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Household Cooking Appliance market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Household Cooking Appliance market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Household Cooking Appliance market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Household Cooking Appliance capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Household Cooking Appliance by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Household Cooking Appliance market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Household Cooking Appliance market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Household Cooking Appliance market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Household Cooking Appliance industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Household Cooking Appliance market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Household Cooking Appliance market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Household Cooking Appliance market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Household Cooking Appliance market. These factors have benefited the growth of the global market for Household Cooking Appliance. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Household Cooking Appliance. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Household Cooking Appliance are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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