North America Household Cooking Appliance Market Size, Share & Industry Trends Analysis Report By Product, By Cooktops & Cooking Ranges Type, By Ovens Type, By Structure, By Distribution Channel, By Country and Growth Forecast, 2021 - 2027
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Market Report Description
The North America Household Cooking Appliance Market would witness market growth of 6.0% CAGR during the forecast period (2021-2027).
In most kitchens, appliances that use a lot of energy, like electricity and gas, are plentiful. It's critical to understand that energy-efficient kitchen appliances may save consumers’ time and money. Modern appliances include more features, are easier to use, and last longer than earlier models. Most crucially, they consume significantly less energy than typical appliances.
Design and aesthetics are important in today's kitchen appliances. Customers today expect kitchen equipment that is not only modern and efficient but also attractive. In addition, consumers are very mindful of design and style, and they are willing to pay a little extra for it. Companies use very imaginative and skilled designers to explore new ways to make these appliances that give numerous purposes and take up less space, knowing customers' necessity multi-functional and well-designed kitchen equipment.
The right fit of cooking equipment helps to speed up the preparation of meals. When people choose a restaurant, one of the most important factors they consider is how fast their orders are processed. They were hungry when they arrived, and they wanted their food as early as possible. Restaurants could only do so if they had the necessary cooking equipment to deliver the dish that the customer had ordered. Home cooking or Traditional equipment would not be able to handle huge orders, which is why restaurant-style cooking equipment is the best option for food establishments.
North America came out as the prime region in the household cooking appliance market. There are many American towns which are witnessing a rise in the use of high-speed ovens. The United States is more economically secure and has greater purchasing power as a result of higher disposable income, which is why it dominates the high-speed oven market in North. The rise of the regional household cooking appliance market is being fueled by continued urbanization, a developed foodservice industry, and the availability of a variety of suppliers. In addition, the usage of high-speed ovens for domestic purposes is steadily rising in North American cities like Canada and Mexico. Furthermore, the region’s baking industry accounts for a large portion of the market, making it one of the most important end consumers of high-speed ovens.
The US market dominated the North America Household Cooking Appliance Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $73,942 million by 2027. The Canada market is poised to grow at a CAGR of 8.4% during (2021 - 2027). Additionally, The Mexico market would exhibit a CAGR of 7.4% during (2021 - 2027).
Based on Product, the market is segmented into Cooktops & Cooking Ranges, Ovens, and Specialized Appliances. Based on Cooktops & Cooking Ranges Type, the market is segmented into Gas-based, Electrical-based, and Induction-based. Based on Ovens Type, the market is segmented into Conventional & Convection, Microwave, and Combination. Based on Structure, the market is segmented into Freestanding and Built-in. Based on Distribution Channel, the market is segmented into Brick & Mortar and E-commerce. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Koninklijke Philips N.V., Whirlpool Corporation, Samsung Electronics Co., Ltd. (Samsung Group), LG Electronics, Inc. (LG Corporation), Panasonic Corporation, Robert Bosch GmbH, Haier Smart Home Co., Ltd. (Haier Group Corporation), SMEG S.p.A, Electrolux AB, and WINIA Electronics Co., Ltd.
Scope of the Study
Market Segments Covered in the Report:
- Cooktops & Cooking Ranges
- Conventional & Convection
- Specialized Appliances
By Distribution Channel
- Brick & Mortar
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Koninklijke Philips N.V.
- Whirlpool Corporation
- Samsung Electronics Co., Ltd. (Samsung Group)
- LG Electronics, Inc. (LG Corporation)
- Panasonic Corporation
- Robert Bosch GmbH
- Haier Smart Home Co., Ltd. (Haier Group Corporation)
- SMEG S.p.A
- Electrolux AB
- WINIA Electronics Co., Ltd.
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