Household Cooking Appliance Global Market By Product Type, By Application, By Structure, By Distribution Channel, Regional Outlook and Forecast 2024-2033 | LG Electronics Inc., Electrolux AB, Panasonic, Haier Group, Whirlpool Corporation

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Overview and Scope
Household cooking appliance refers to electrical and non-electronic equipment which assists in food preparation in a household.

Sizing and Forecast
The household cooking appliance market size has grown strongly in recent years. It will grow from $136.89 billion in 2023 to $147.49 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to electrification of households, changing lifestyles, energy efficiency and safety standards, rising home improvement costs, adoption of modular kitchens.

The household cooking appliance market size is expected to see strong growth in the next few years. It will grow to $193.36 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to smart home integration, sustainability and energy efficiency, health and wellness trends, increased home cooking, urbanization and smaller living spaces. Major trends in the forecast period include induction cooking, multifunctional appliances, sustainable materials, voice and app control, retro and vintage designs.

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Segmentation & Regional Insights
The household cooking appliance market covered in this report is segmented –
1) By Product: Electric Stoves, Microwave Ovens, Barbecues And Grills, Others – Household Cooking Appliance
2) By Fuel Type: Cooking Gas, Electricity
3) By Application: Household, Commercial

Asia-Pacific was the largest region in the household cooking appliances market in 2023. Western Europe was the second-largest region in the household cooking appliance market analysis. The regions covered in the household cooking appliance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The growing popularity of energy-efficient cooking appliances is expected to increase the demand for electric stoves. The cooking efficiency of electric stoves is high when compared to gas cooktops as the majority of the heat energy through gas cooktops is not transferred while cooking. Electric stoves are designed to consume minimum energy and provide easy temperature control. For instance, with the introduction of energy-efficient appliances, the US government is spending 56% less on energy requirements thereby reducing emissions.

Key Industry Players
Major companies operating in the household cooking appliance market include LG Electronics Inc, Electrolux AB, Panasonic, Haier Group, Whirlpool Corporation, SMEG S.p.A., Kenmore, Samsung Electronics, Galanz Enterprise Group, Koninklijke Philips N.V., Alto-Shaam Inc, Robert Bosch GmbH, The Coleman Company Inc, Spectrum Brands Holdings Inc., Amana, Miele & Cie. KG, General Electric Company (GE), The Middleby Corporation LLC, Char-Broil LLC, Midea Group Co. Ltd., Frigidaire, KitchenAid, Sears Holdings Corporation, Broilmaster, Traeger Inc., Empire Comfort Systems Inc., Blackstone Products Inc., Groupe SEB, TTK Prestige Ltd., BSH Hausgeräte GmbH, Arcelik A.S., Gorenje Group

The household cooking appliance market report table of contents includes:
1. Executive Summary