Electric Kitchen Appliances Market Scope
Electric Kitchen appliances are equipment that make cooking more efficient and convenient. To run kitchen equipment, gas or electricity is released. In the kitchen, these equipment are mostly used for cooking, storing, and cleaning. Although electric kitchen appliances dominate the market, cooking fuel, renewable energy, and solar energy all play a part in the operation of kitchenware equipment. Recently, home appliances have become an integral part of the consumer's everyday life. As can be seen, household appliances have become a symbol of prosperity and a pleasant lifestyle. Furthermore, as more people migrate to cities, the need for home appliances can contribute to house décor, which is considered necessary for modern living. Furthermore, the increased availability of new advanced technologies in the consumer appliance industry has enticed consumers to acquire a new product.
Attributes | Details |
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Study Period | 2019-2029 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Whirlpool Corporation (United States), Morphy Richards (United Kingdom), Haier lnc. (China), LG Electronics (South Korea), Havells India Ltd. (India), Koninklijke Philips N.V. (Netherlands), SAMSUNG (South Korea), Electrolux (Sweden), Panasonic Corporation (Japan) and BSH Home Appliances Group (Germany) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that Japanese Vendors will contribute to the maximum growth of Global Electric Kitchen Appliances market throughout the predicted period.
Whirlpool Corporation (United States), Morphy Richards (United Kingdom), Haier lnc. (China), LG Electronics (South Korea), Havells India Ltd. (India), Koninklijke Philips N.V. (Netherlands), SAMSUNG (South Korea), Electrolux (Sweden), Panasonic Corporation (Japan) and BSH Home Appliances Group (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Croma (Tata Group) (India), Hitachi Appliances, Inc. (Japan), Mabe (Mexico), Midea Group (China) and Miele & Cie. KG. (Germany).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Electric Kitchen Appliances market by Type , by Application (air conditioning devices, refrigerators, electric warmers, washers, dryers) and Region with country level break-up.
On the basis of geography, the market of Electric Kitchen Appliances has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In Aug. 8, 2022 Whirlpool Corporation (NYSE: WHR) today announced that it has entered into a definitive agreement with Emerson Electric Co. (NYSE: EMR) to acquire InSinkErator, the world's largest manufacturer of food waste disposers and instant hot water dispensers for home and commercial use, in an all-cash transaction
On 5th March, 2021 - Orient Electric Limited Launched a New Line of Kitchen Appliances in Indian Market on International Women’s Day. Starting with The Miracle Diva Mixer Grinder, Which Was Developed with the Requirements of Single-Income and Dual-Income Working Families in Consideration.
Influencing Trend:
Emergence of Advance AI Enabled Kitchen Appliances
Market Growth Drivers:
Rising Disposable Income and High Investments in Home Appliance Technology
Challenges:
Fierce Competitive Pressure.
Restraints:
Technological Limitations and High Initial Investment
Opportunities:
Increasing Demand Across Emerging Regions
Key Target Audience
Electric Appliances Manufactures, New Entrants and Investors, Electric Appliances Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others