Cookers & Ovens Industry Overview
The global cookers & ovens market size was valued at USD 153.05 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2028.
This can be credited to the growing demand for seamless and efficient cooking solutions and portable cooktops from consumers in China and India. The rising popularity of ovens among consumers across Europe due to their various functionalities is also anticipated to boost the market growth over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Cookers & Ovens Market
The coronavirus pandemic adversely affected the world economy. To stop the further spread of SARS-CoV-2, lockdown orders were imposed by governments across the globe. This had a devastating impact on trade and development, offline distribution channels, and the supply chain of the market for cookers & ovens. However, the market has, since, bounced back and is on the path to recovery, fueled by continued demand for a host of cooking appliances, including cookers and ovens.
There is a growing demand for freestanding cookers that provide precise temperature control as well as pre-set ovens with automatic power levels, which presents an opportunity in the market. Currently, key players operating in the market are focusing on launching stainless-steel cavity-based ovens as well as smart inverter microwave ovens. Apart from these, while some players are incorporating tandoor technology in the ovens, others are looking to offer built-in cookers, especially to cater to the demand in Europe.
Players have also stepped up their investments to manufacture advanced ovens & cookers at lower prices. For instance, China-based Haier Group invested in procuring technologically advanced ovens at a lower cost. This gives companies a competitive edge. Key players in the market are adopting online marketing channels to boost the sales of kitchen appliances. These e-commerce portals have been improving the commercial outlook for cookers and ovens, fueling the market growth.
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Cookers & Ovens Market Segmentation
Grand View Research has segmented the global cookers & ovens market based on type, distribution channel, and region:
Cookers & Ovens Type Outlook (Revenue, USD Million, 2017 – 2028)
- Cooktops & Cooking Ranges
Cookers & Ovens Distribution Channel Outlook (Revenue, USD Million, 2017 – 2028)
Cookers & Ovens Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
Market Share Insights
- December 2021: LG Electronics introduced and launched the latest range of cooking appliances at CES 2022 the Double Oven Gas Slide-in Range and the Over-the-Range Microwave Oven
- December 2021: GROUPE SEB signed an agreement with Preciber, a family company in Morocco, to form a joint venture called Groupe SEB Maroc to strengthen its presence in Africa
Key Companies profiled:
Some prominent players in the global cookers & ovens market include
- Electrolux AB
- Haier Group
- LG Electronics
- Robert Bosch GmbH
- GROUPE SEB
- Koninklijke Philips N.V.
- WMF Group
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