As per newly released data by Future Market Insights (FMI), the freestanding large cooking appliance market is estimated at USD 20,333.0 Million in 2023, and is projected to reach USD 30,977.5 Million by 2033, at a CAGR of 4.3% from 2023 to 2033. Share of freestanding large cooking appliance market in its parent market (kitchen appliance market) is approximately ~15%-20%.
Modern kitchen appliances have gained valuable electronic capabilities that allow them to become smarter. Integrated appliances are so efficient that modular kitchens can be found in even the poorest homes. Makers are continually allowing for more integrated fixtures, making it possible for all people to obtain them. As the population of people living in closely packed dwellings continues to rise, the importance these appliances has steadily increased.
The number of women in the labour market is on the rise around the world. In addition, there is less domestic engagement by women, as they are less frequently interacting with the male aspect of the household. The role played by women in the kitchen in urban society is gradually diminishing. As income increases and buying power is asserted, more people intend to live in luxury homes. Additionally, nuclear families are increasing all the time.
| Attribute | Details |
|---|---|
| Freestanding Large Cooking Appliances Market Estimated Size (2023E) | USD 20,333.0 Million |
| Freestanding Large Cooking Appliances Market Projected Size (2033F) | USD 30,977.5 Million |
| Freestanding Large Cooking Appliances Market Value-based CAGR (2023 to 2033) | ~4.3% |
| Freestanding Large Cooking Appliances Market Top Players market Share, 2022 | 20%-25% |
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According to Future Market Insights (FMI), demand for freestanding large cooking appliances is forecast to surge at a steady 4.3% CAGR over the forecast period (2023 to 2033), in comparison with around 3.5% CAGR registered between 2018 and 2022.
Electronic elements are being integrated into modern kitchen equipment, as demand for smart appliances surges. Freestanding large kitchen appliances accomplish their basic responsibilities in addition to adjusting in multiple spaces.
These freestanding cooking appliances are becoming increasingly significant as the number of people living in small households increases as a result of expanding population. The seamless integration of these freestanding large cooking kitchen equipment enhances the beauty of the cooking area even more.
It is simple to clean and maintain such freestanding large cooking kitchen equipment. Hence, freestanding large cooking kitchen appliance manufacturers are putting energy-efficiency labels on their products.
These freestanding large cooking appliances offer several colour chokes in the cabinet sections, as well as extra textures and distinctive materials, to give the kitchen a more sophisticated aspect.
To capitalize on this emerging trend, several large construction companies, interior designers, and producers of freestanding large kitchen appliances are collaborating. Backed by these, the market of freestanding large cooking kitchen appliances is gaining traction.
Preference for modern retail stores such as malls, supermarkets, and hypermarkets have increased. As a result, the freestanding large cooking kitchen equipment industry is increasingly concentrating on getting this retail space.
Several industry's top players are competing for supremacy by producing cutting-edge integrated kitchen appliances. These are the several factors driving the demand in the market for freestanding large cooking kitchen appliances.
Technological Innovation along with Increasing Demand for Energy Efficient Products Expected to Fuel Market Growth
Major factors that influence the market demand for cooking appliances include growing number of nuclear families and working women, introduction of smart appliances, and availability of energy-saving alternatives. Additionally, transformation of kitchen appliances, from conventional or microwaves to integrated systems, and advancement of kitchen equipment with the loT technology are also expected to drive the market for cooking appliances during the forecast period.
Increasing Research and Development Activities for High Efficient Products
Industrial players are investing heavily in R&D to develop efficient equipment with advanced features and higher aesthetic value, which is expected to positively impact the market growth. Due to the increased demand for appliances which reduces cooking time and ease the stress of food preparation, the demand for improved kitchen appliances is also increasing. Busy schedules, especially in urban areas and rising working class, may positively affect the development of the target market in the coming years
Changing Retail Landscapes
Retail sales of smart appliances, particularly cooking appliances is increasing in many major nations throughout the world, which is a primary driving force behind the market for built-in large cooking appliances.
Furthermore, given the current trend of luxury kitchen setups, in which consumers aspire to include high-tech appliances into their kitchens and families, a premium built-in large cooking appliances with additional features like connectivity is an excellent alternative for consumers
| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 4.6% |
| Jul to Dec (H2), 2021 (A) | 4.1% |
| Jan to Jun (H1), 2022 Projected (P) | 4.6% |
| Jan to Jun (H1), 2022 Outlook (O) | 5.1% |
| Jul to Dec (H2), 2022 Outlook (O) | 4.6% |
| Jul to Dec (H2), 2022 Projected (P) | 4.2% |
| Jan to Jun (H1), 2023 Projected (P) | 4.4% |
| BPS Change: H1, 2022 (O) to H1, 2022 (P) | (+) 46 |
| BPS Change: H1, 2022 (O) to H1, 2021 (A) | (+) 51 |
| BPS Change: H2, 2022 (O) to H2, 2022 (P) | (+) 42 |
| BPS Change: H2, 2022 (O) to H2, 2021 (P) | (-) 46 |
Principal Consultant
| Country | USA |
|---|---|
| Market Share (2023) | 26.1% |
| Market Share (2033) | 20.0% |
| BPS Analysis | (-) 608 |
| Country | Germany |
|---|---|
| Market Share (2023) | 5.3% |
| Market Share (2033) | 4.5% |
| BPS Analysis | (-) 82 |
| Country | India |
|---|---|
| Market Share (2023) | 2.5% |
| Market Share (2033) | 4.4% |
| BPS Analysis | (+) 195 |
Increasing Need for Convenient Products to Push Freestanding Large Cooking Appliances Sales
Residential building and remodeling activity has increased in the USA as a result of low financing rates and the trend toward internet commerce, as per FMI.
The demand for industry products is projected to be primarily influenced by the increasing number of corporate population. As this demographic appreciates convenience, spending on online kitchen appliances might increase.
Urbanization in India and Metro Cities to Create Conducive Environment for Freestanding Large Cooking Appliance Manufacturers
With increasing urbanization and number of nuclear families, sales of industrial and consumer products in specialty stores and e-commerce surged. Another factor driving the sales is the market for kitchen equipment is the development in metro cities with increasing disposable income.
Rising Innovation in Design of Freestanding Large Cooking Appliances to Propel the Demand
Several home goods manufacturers in China sell high-end kitchen appliances in the country. Consumer awareness in the kitchen appliance industry is growing with a focus on design and function, and their willingness to pay is decreasing.
As customers become more environmentally concerned, demand for freestanding large cooking appliances and environmentally friendly products is also growing.
Freestanding Large Cooking Hobs to Remain Highly Sought-After
Kitchen hobs are one of the most common pieces of cooking equipment, and are gaining traction across the globe. Development of temperature sensing technologies, which immediately shuts the gas valve once a gas bubble is detected is the key factor propelling the demand.
Hence, manufacturers of hobs are concentrating on making their products more efficient and user-friendly while also boosting performance to give customers a better cooking experience: resulting in higher demand for hobs.
Sales of Freestanding Large Cooking Appliances in Commercial Sector to Surge
Sales of freestanding large cooking appliance in commercial sector is increasing due to their consistency, efficiency and passivity. Demand in restaurants to run their place successfully is boosting the market.
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Investors are experimenting with novel materials and production procedures in order to save energy and increase the performance of their thermal elements. Manufacturers with vast consumer bases must stay current with industry advancements by staying informed about new technology and revamping their product lines.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million/Billion for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; MEA |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Russia, Benelux, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others |
| Key Segments Covered | Product Type, Application, Sales Channel, Region |
| Key Companies Profiled | 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; Robert Bosch GmbH; Others (on request) |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is valued at USD 20,333 million in 2023.
AB Electrolux, Haier Group Corporation, and GE Appliances are key market players.
Kitchen hobs is the most common pieces of cooking equipment.
The market is estimated to reach USD 30,977.5 Million by 2033.
Rising innovation in the design of cooking appliances propels the demand.
1. Executive Summary | Freestanding Large Cooking Appliance Market 2. Market Overview 3. Key Market Trends 4. Key Regulations 5. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 8. Market Background 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Product Type 9.1. Freestanding Hobs 9.2. Ovens 9.3. Others 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Application 10.1. Residential 10.2. Commercial 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Sales Channel 11.1. Wholesalers/Distributors 11.2. Multi-Brand Stores 11.3. Specialty Stores 11.4. Hypermarket/Supermarkets 11.5. Online Retailers 11.6. Other Sales Channel 12. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 12.1. North America 12.2. Latin America 12.3. Europe 12.4. East Asia 12.5. South Asia 12.6. Oceania 12.7. MEA 13. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033 19. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033 20. Market Structure Analysis 21. Competition Analysis 21.1. Samsung Electronics Co. Ltd Overview 21.2. Morphy Richards 21.3. LG Electronics Inc. 21.4. Whirlpool Corporation 21.5. Hitachi Appliances Inc. 21.6. Koninklijke Philips N.V. 21.7. AB Electrolux 21.8. Haier Group Corporation 21.9. GE Appliances 21.10. Robert Bosch GmbH 21.11. Others (on request) 22. Assumptions and Acronyms Used 23. Research Methodology
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Freestanding Large Cooking Appliance Market
