Global Residential Cooking Grills Market 2018-2022
About Residential Cooking Grills
Cooking appliances used for grilling purposes are known as cooking grills.
Technavio’s analysts forecast the global residential cooking grills market to grow at a CAGR of 6.62% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global residential cooking grills market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of residential cooking grills.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Residential Cooking Grills Market 2018-2022
Technavio recognizes the following companies as the key players in the global residential cooking grills market: Groupe SEB, Koninklijke Philips, Robert Bosch, Weber-Stephen Products, and Whirlpool Corporation.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing online sales. The advent of online retail has positively impacted the demand for cooking grills. As of 2017, the global business-to-consumer e-commerce industry was valued at $2.27 trillion. The industry is likely to grow significantly during the forecast period. Due to the increased penetration of smart gadgets, the industry is expected to witness high growth potential in future.”
According to the report, one of the major drivers for this market is Innovations and portfolio extensions leading to product premiumization. The integration of technology with cooking appliances has resulted in innovative cooking appliances that save the time and energy of customers. Smart cooking grills, cooktops, and others are in high demand across the globe. W i-Fi and Bluetooth enabled cooking appliances (such as cooking grills) are launched in the market, of late. Such cooking appliances facilitate remote and instant monitoring of multiple cooking activities. However, such advanced cooking appliances are associated with high prices owing to their increased functionality.
Further, the report states that one of the major factors hindering the growth of this market is High competition from alternative cooking appliances. The use of alternative cooking appliances poses a major challenge to the growth of the global residential cooking grills market. Alternative cooking appliances include grill pans and grill microwave ovens. Increased price sensitivity of customers influences the demand for such alternative cooking appliances. The rising number of apartment dwellers, too, is a key reason for the shift toward alternative cooking appliances.
Groupe SEB, Koninklijke Philips, Robert Bosch, Weber-Stephen Products, and Whirlpool Corporation.
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