The 2022 valuation of the worldwide Large Cooking Appliance Market stood at USD 52.73 billion. Projections indicate that by 2032, this figure will soar to USD 89.09 billion, boasting a remarkable compound annual growth rate (CAGR) of 6% throughout the prediction period.
The escalating desire for sizable cooking appliances across both household and business domains, coupled with a growing inclination among consumers for rapid and efficient cooking solutions, emerges as pivotal catalysts fostering the expansion of market earnings.
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Top Profiled Companies:
- Whirlpool Corporation
- Electrolux AB
- Samsung Electronics Co., Ltd.
- Bosch Siemens Home Appliances Group
- General Electric Company
- LG Electronics Inc.
- Midea Group Co., Ltd.
- Sub-Zero Group, Inc.
- Haier Group Corporation
- Viking Range, LLC
- Godrej Group
The growth of the large cooking appliance market can be influenced by several key factors:
- Technological Advancements: Innovations in cooking technologies, such as smart features, automation, energy efficiency, and improved cooking performance, can drive consumer interest and sales. Smart appliances that can be controlled through smartphones or integrated with virtual assistants may also contribute to market growth.
- Consumer Preferences: Changing lifestyles and preferences can impact the types of cooking appliances that are in demand. For example, as people become more health-conscious, there might be a greater demand for appliances that support healthier cooking methods.
- Kitchen Renovations and New Construction: The real estate market and construction industry play a role in the demand for large cooking appliances. Renovations and new home constructions often involve the purchase of new appliances, which can contribute to market growth.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Further market segmentation
Product Type Outlook:
- Ovens
- Ranges
- Cooktops
- Others
End-Use Outlook:
- Commercial
- Residential
Key Takeaways of the Global Large Cooking Appliance Market Report:
- A comprehensive overview of the global Large Cooking Appliance industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Large Cooking Appliance market.
- Elaborate study of the leading regional markets in the global Large Cooking Appliance market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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