Global Household Cooking Appliances Market Driven By Increasing Urbanization, To Reach US$79.8 bn by 2018

2024-11-05 12:02:10 News & Society

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Transparency Market Research has published a new report on the global household cooking appliances market. According to the report, the global household cooking appliances market was valued at US$56.6 bn in 2012 and is expected to reach US$79.8 bn by 2018. The report, titled ?Household Cooking Appliances Market - Global Industry Analysis, Market Size, Market Share, Growth, Trends And Forecast 2012 - 2018?, states that the global household cooking appliances market is expected to expand at a 29.10% CAGR during the period from 2012 to 2018.

The household cooking appliances market includes technologies and devices such as thermal regulators, smart programs, auto programs, and others. Most of the appliances are operated on electricity or gas, however, some others operate on solar power or liquid fuels. Factors such as the increasing number of smaller households, growing population, and growing working population are expected to propel the global household cooking appliances market by 2018. Factors such as rising urbanization in developing countries and the introduction of improved household products are predicted to generate growth opportunities for the global household cooking appliances market.

The global household cooking appliances market is segmented on the basis of geography and product type. Based on product type, the global household cooking appliances market is classified into cook-tops and ovens. Gas cook-tops, electrical coil cook-tops, induction cook-tops, and others are the sub-segments of the cook-tops sector. The ovens sector includes conventional/thermal ovens, microwave ovens, and combination ovens. In 2012, in terms of revenue, the cook-tops sector dominated the global household cooking appliances market with a 46.1% share. Increasing disposable income, rising worldwide population and increasing demand for technologically advanced household appliances are the factors that will drive the cook-tops sector during the forecast period.

By geography, the global household cooking appliances market is classified into Europe, Asia Pacific, North America, and Rest of the World. Increasing demand for advanced household appliances in Europe and Asia Pacific is expected to drive the global household cooking appliances market during the forecast period. The increasing trend of modular kitchens has helped North America and Europe register strong demand for trendy household cooking appliances.

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The global household cooking appliances market is highly saturated and diversified thanks to the high number of small and big players. Asia Pacific has registered a large number of households and increasing urbanization due to economic developments. The growing trend of nuclear families is further driving the Asia Pacific household cooking appliances market. Factors that are expected to hamper the growth of the global household cooking appliances market are the high cost of the appliances and rising preference for ready-to-eat foods. The increase in the number of working couples is predicted to further multiply the demand for various household cooking appliances throughout the forecast period.

Some of the leading companies in the global household cooking appliances market are AB Electrolux, Whirlpool Corporation, LG Electronics, Philips Electronics, Robert Bosch Gmbh, Stoves Appliance Company (Glen Dimplex Home Appliances Ltd.), Miele & Cie., Daewoo Electronics Corporation, Haier Group Company, Panasonic Corporation, Videocon Industries Limited, and Fisher & Paykel Appliances Holdings Ltd.

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