Range Cooker Electric Market Growth, Opportunities and Forecast to 2032
The Global Range Cooker Electric Market is expanding at a steady pace and is expected to reach USD 9.2 billion by 2032, exhibiting a revenue CAGR of 3.5% during the forecast period. The market size for Range Cooker Electrics was valued at USD 6.8 billion in 2022. This growth is driven by several factors such as an increase in the number of residential and commercial kitchens, the appeal of gourmet cuisine, and the rising demand for high-end kitchen appliances.
Range Cooker Electrics are robust and energy-efficient appliances that come with cutting-edge features such as multiple ovens, griddles, and burners. These features are in high demand as disposable income rises and lifestyle trends shift. Furthermore, the trend of home-cooked meals is growing as people become more health conscious and prefer freshly produced, nutrient-dense food, which is raising demand for Range Cooker Electrics.
Another factor driving the growth of the Range Cooker Electric market is the increase in the number of commercial kitchens. The food service industry is experiencing tremendous growth, and Range Cooker Electrics are a critical component of commercial kitchens. They are preferred by chefs and other foodservice professionals as they offer high-quality cooking performance and a wide range of cooking options.
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Some Key Highlights from the Report
- The gas segment is anticipated to have the largest market share in terms of revenue during the projected period, owing to its cost-effectiveness, ease of access, and user-friendliness. Gas cookers provide precise and adjustable flame control, allowing users to customize their cooking requirements. In addition, gas cookers' quick heating feature allows for faster cooking times, reducing overall cooking time and enhancing efficiency. It is expected that the gas Range Cooker Electric classification will retain its market dominance and drive segment revenue growth throughout the projection period.
- The residential segment is projected to dominate the market revenue during the forecast period, as there is a growing demand for modern, energy-efficient Range Cooker Electrics in households. Range Cooker Electrics are indispensable kitchen appliances that can cook large quantities of food at once. They are equipped with advanced features such as multiple burners, ovens, grills, and warming drawers, making them ideal for cooking a variety of dishes at the same time. Moreover, the increasing popularity of home-cooked meals and numerous cooking programs on television are contributing to the rising demand for Range Cooker Electrics in the domestic market.
Key Players covered in this report are
The global Range Cooker Electric market is a fiercely competitive space, with a handful of major players driving a significant portion of market revenue. These industry giants are employing a variety of tactics, such as mergers and acquisitions, partnerships, and collaborations, to establish and expand their market presence. Among the notable players in the global Range Cooker Electric market are 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, and Bertazzoni S.p.A.
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Range Cooker Electric Market Segmentation:
The fuel type outlook includes gas, electric, dual fuel, and others. Gas heating appliances are widely used in residential and commercial spaces due to their affordability and efficiency. Electric heating appliances are gaining popularity due to their ease of installation, safety, and environmentally friendly nature. Dual fuel heating appliances use a combination of gas and electric, providing users with a more flexible and cost-effective heating option. Other types of heating appliances include oil, propane, and biomass.
The size outlook of the heating appliances market includes small, medium, large, and others. Small heating appliances, such as space heaters, are popular in residential settings due to their portability and low cost. Medium heating appliances, such as wall-mounted heaters and baseboard heaters, are commonly used in small commercial spaces. Large heating appliances, such as central heating systems and industrial boilers, are used in larger commercial and industrial spaces. Other types of heating appliances include portable heaters, radiant heaters, and underfloor heating.
The application outlook of the heating appliances market includes residential, commercial, and others. Residential heating appliances are used in homes, apartments, and other living spaces. Commercial heating appliances are used in offices, restaurants, hotels, and other commercial spaces. Other applications of heating appliances include industrial and agricultural spaces, as well as outdoor heating for patios and other outdoor spaces.
The regional scope of the heating appliances market includes North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to have a significant market share due to the widespread use of heating appliances in residential and commercial spaces. Europe is expected to have a significant market share due to the increasing demand for energy-efficient heating solutions.
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