Large Cooking Appliance Market Size, Share & Trends Analysis Report By Product (Cooktops, Ovens, Specialized Appliances), By Application (Household, Commercial), By Region, And Segment Forecasts, 2019 - 2025

Large Cooking Appliance Market Size, Share & Trends Analysis Report By Product (Cooktops, Ovens, Specialized Appliances), By Application (Household, Commercial), By Region, And Segment Forecasts, 2019 - 2025

The global large cooking appliance market size is expected to reach USD 39.91 billion by 2025, according to a new report by

Grand View Research, Inc. It is anticipated to register a CAGR of 6.5% during the forecast period. Growing standards of

living and popularity of modular kitchens is anticipated to fuel the growth. Advancements in efficient and specialized

equipment are anticipated to further drive the product demand.

Constantly changing household and commercial routines, access to economic electricity, and rising awareness regarding eco-

friendly appliances are anticipated to drive the product demand. Expansion of e-commerce distribution channels along with the

emergence of Internet of Things (IoT) and other advanced technologies are expected to augment the market growth over the

forecast period.

Increasing number of meals consumed away from home due to the rise in working population is projected to further stimulate

market growth, particularly in the commercial segment. In this category, developing countries like India and China are

expected to offer abundant growth opportunities. For instance, Hitachi and Vulcan direct their premium offerings to leverage

construction channels for product sales in India through paid partnerships with builders and developers.

The rise in disposable income has spurred the development of large cooking appliances within various business units including

modular households across developed and developing economies like India and China. New advancements such as built-in hobs,

modular ovens, and charbroilers have increased the demand for specialized appliances. The segment is anticipated to expand at

a CAGR of 6.7 % over the forecast period, due to product efficiency. In addition, rising workforce in urban cities is

expected to fuel demand for high-end products. For instance, Hitachi and Haier have emerged as the leading brands in cooktops

and cooking range segment especially due to increased demand for modular kitchens in countries from Asia Pacific such as

India and Singapore.

The market for cooking appliances is the parent market for all the cooking appliance segments. The large cooking appliances

contribute, among other things, an essential 40% of the overall market. With profits rising and the facility to do business

in the hospitality sector, demand for commercial equipment has been rising for quite some time. This factor is anticipated to

fuel growth of industrial application at a CAGR of 6.6% over the forecast period. For instance, Hitachi provides hospitals

and hotels with energy-efficient commercial cooking equipment, ranging from cooktops to broilers, as rising technological

advancements in smart equipment are a driving consumer preference for cooking food. Commercial segment is anticipated to

emerge as the fastest and the largest growing segment for the large cooking appliances market.

Samsung Electronics Co. Ltd, Morphy Richards, LG Electronics Inc., Whirlpool Corporation, Hitachi Appliances Inc.,

Koninklijke Philips N.V, AB Electrolux, Haier Group Corporation, GE Appliances, and Robert Bosch GmbH are some of the key

market players.

Further key findings from the report suggest:

• In terms of regional revenue, North America is projected to have a value of USD 12.64 billion by 2025
• Specialized appliances constitute about 28.23% of the total market share in 2018, and are projected to exhibit a

significant increase in the next few years

• Asia Pacific is anticipated to lead the global large cooking appliances market with a CAGR of 7.3% during the

forecast period

• Rise in disposable income and working women population, especially in countries like China and India is anticipated

to positively influence market growth

• The market is highly competitive in nature with the main players including Samsung Electronics Co. Ltd; Morphy

Richards; LG Electronics Inc.; Whirlpool Corporation; Hitachi Appliances Inc.; Koninklijke Philips N.V.; AB Electrolux; Haier

Group Corporation; GE Appliances; and Robert Bosch GmbHPlease note The report will be delivered in 2-3 business days upon order notification.