The global freestanding large cooking appliances market is poised to reach a valuation of US$ 19,494.8 Bn in 2022. Sales are projected to increase at a 6.1% CAGR, with the market size reaching US$ 29,700.4 Bn by 2032.
Electronic capabilities have enabled modern kitchen appliances to grow smarter. Modular kitchens are becoming increasingly popular due to the efficiency of integrated appliances.
Makers are constantly allowing for more integrated fixtures, making them more accessible to the general public. Modern retail forms such as malls, supermarkets, and megastores are becoming increasingly popular. As a result, makers of standalone kitchen appliances are profiting on this trend and cooperating with these end users.
Also, several manufacturers in this industry are developing cutting-edge appliances and services for the kitchen. Innovations in technology, such as the development of attractive, complex kitchen equipment that can be controlled via an app, are accelerating the demand in the market. As an increasing number of individuals are concerned about their personal health, the market for tranquil and clean kitchen appliances is increasing rapidly.
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Key Takeaways from the Freestanding Large Cooking Appliances Market Study
- By sales channel, online retailers segment is projected to gain traction over the assessment period
- India is expected to dominate the South Asia freestanding large cooking appliances market though 2032
- The U.S. is expected to account for significant share in the global freestanding large cooking appliances market
- In terms of product type, the freestanding hobs segment will witness highest growth over the forecast period
- Based on application, the commercial segment will grow at a fastest rate through 2022 & beyond
“Several manufacturers are introducing new products catering to the rising demand for freestanding large cooking appliances. Availability of electric large cooking appliances and modular kitchens is a driving force behind the freestanding large cooking appliances market.” says an FMI analyst.
Who is winning?
Energy-efficient goods are being developed by market participants by examining new raw material and production options, as well as novel thermal element designs. Some of the biggest companies on the market are always updating their product line with the most cutting-edge and cutting-edge technology. A significant portion of their R&D budgets is going into developing new products that take use of cutting-edge technology like artificial intelligence (AI) and the internet of things (IoT).
Major players present in the freestanding large cooking appliances market are 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.
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Freestanding Large Cooking Appliances Market by Category
Product Type:
- Freestanding Hobs
- Freestanding Ovens
- Others
By Application:
- Residential
- Commercial
Sales Channel:
- Wholesalers/Distributors
- Multi-Brand Stores
- Specialty Stores
- Hypermarket/Supermarkets
- Online Retailers
- Other Sales Channel
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa (MEA)
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