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Household Cooking Appliance Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Household Cooking Appliance Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021
  • 175 pages
  • ID: 6071992
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the household cooking appliance market are LG Electronics Inc, Electrolux AB, Panasonic, Haier Group, Whirlpool Corporation, SMEG, Kenmore, Samsung Electronics, Galanz Enterprise Group and Philips.

The global household cooking appliance market is expected to grow from $73.54 billion in 2020 to $78.89 billion in 2021 at a compound annual growth rate (CAGR) of 7.3%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $101.98 billion in 2025 at a CAGR of 7%.

The household cooking appliance manufacturing includes sales of household-type electric and nonelectric cooking equipment. These include microwave ovens, electric stoves, barbeques and grills, and others.

Growing popularity of energy-efficient cooking appliances is expected to increase the demand for electric stoves.Cooking efficiency of electric stoves is high when compared to gas cooktops as majority of the heat energy through gas cooktops is not transferred while cooking.

Electric stoves are designed to consume minimum energy and provide easy temperature control. For instance, with the introduction of energy efficient appliances, the US government is spending 56% less on energy requirements thereby reducing emissions.

Limited compatibility of electric cooktops with cooking vessels is expected to act as a restraint on the market.Electric cooktops are compatible with cooking vessels made of cast iron and steel and are not compatible with those made of aluminum and copper because of their magnetic and electrical properties.

Aluminum and copper require much greater frequencies to produce the heat needed to cook food.

The household cooking appliance market covered in this report is segmented by product into electric stoves, microwave ovens, barbecues and grills, and others - household cooking appliance. The household cooking appliance market in this report is segmented by application into household, and commercial.

Companies in the household cooking appliance market are increasingly launching technologically-advanced multi-functional ovens to cater to the rising demand for multi-functional appliances with additional benefits.These multi-functional ovens use a wide range of methods to provide customized and easy cooking.

These ovens use devices to guide and instruct users in the process of cooking.Apart from these, they also come with catalytic and pyrolytic self-cleaning functions.

The catalytic self-cleaning feature allows the use of special chemical installed liners to absorb grease, while the pyrolytic self-cleaning function of these ovens allows them to clean the dirt and grease using high temperatures.For instance, Electrolux’s EOY5851AAX oven uses different programs and functions to make the process of cooking easy and customized.

It has the pyrolytic cleaning technology that allows self-cleaning.

In October 2019, Empire comfort systems, a manufacturer of broilmaster premium grills, acquired primo ceramic grills.Through this acquisition Empire comfort systems will expand its presence in the premium grill market.

Primo ceramic Grills Company is a USA based company involved in the manufacturing of oval shaped ceramic grills.

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