Range Cooker Market Forthcoming Developments and Opportunities Insights 2032
In 2022, the global Range Cookers Market was valued at USD 6.8 billion. By 2032, it is predicted to grow to USD 9.2 billion, with a revenue CAGR of 3.5% during the forecast period. The market growth is being driven by several factors, such as the rising demand for high-end kitchen appliances, the increasing number of residential and commercial kitchens, and the appeal of gourmet cuisine.
Range cookers are becoming increasingly popular due to their durability, energy efficiency, and advanced features, including multiple ovens, griddles, and burners. With rising disposable incomes and changing lifestyle trends, consumers are willing to invest in high-quality kitchen appliances. Additionally, the trend of home-cooked meals is growing, and people are becoming more health-conscious, leading to a surge in demand for range cookers.
Moreover, technological advancements in range cookers, such as induction-based range cookers, smart range cookers, and self-cleaning range cookers, are driving the market revenue growth. Induction-based range cookers are in high demand due to their safety, accurate temperature control, and energy efficiency. Smart range cookers with Wi-Fi connectivity and voice assistants are also gaining popularity among tech-savvy consumers. Self-cleaning range cookers are becoming more convenient and easy to maintain, attracting time-pressed shoppers.
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Major Companies:
- Aga Rangemaster Group Plc
- Sub-Zero Group Inc.
- LG Electronics Inc.
- AB Electrolux
- Whirlpool Corporation
- Haier Group Corporation
- Samsung Electronics Co. Ltd.
- Miele & Cie. KG
- Viking Range, LLC
- Bertazzoni S.p.A.
Driving Factors and Restraints of Range Cooker Market:
factors:
- Technological advancements: The development of advanced range cookers with features such as induction-based technology, smart connectivity, and self-cleaning functions are driving the demand for range cookers.
- Increasing health consciousness: As people become more health-conscious and prefer freshly produced, nutrient-dense food, the trend of home-cooked meals is growing, which is raising demand for range cookers.
- Expansion of foodservice industry: The demand for range cookers is increasing in the commercial sector, driven by the expansion of the foodservice industry, which includes restaurants, hotels, and cafes.
- Government regulations: Strict government laws that aim to reduce carbon emissions and promote energy-efficient appliances are also fueling the demand for energy-efficient range cookers.
Restraints:
- High cost: Range cookers are generally expensive, and this may limit their affordability to certain segments of the population.
- Lack of awareness: The lack of awareness among consumers about the benefits and features of range cookers may also limit the market growth.
- Availability of alternatives: Consumers may choose to purchase alternative cooking appliances, such as microwave ovens, slow cookers, and instant pots, which may limit the growth of the range cooker market.
- Maintenance issues: Range cookers require regular maintenance, and some consumers may be deterred by the additional maintenance costs and effort required to keep them in good condition.
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