Industry Background:
A wide variety of cooking appliances exist that largely serve the same cooking requirements; recent trends in product innovation have moved towards increased integration and functionality. The performance of common cooking appliances differs widely depending on device type, fuel type, and user behaviour. Real-life efficiencies differ substantially from standardized test values owing to the impact of idle consumption, pre-heat input and user behaviour. Appliances generally use electricity or gas (natural gas or LPG), whilst biomass is also an important fuel in developing countries.This growth is primarily driven by Increasing Disposable Income and Changing Lifestyle and Increase in Health Concerns.
Globally, a noticeable market trend is evident Increasing Food Services Establishment. Major Vendors, such as Koninklijke Philips (Netherlands), Black and Decker (United States), Morphy Richards (United Kingdom), Faber (Italy), Siemens (Germany), Bosch (Germany), Samsung (South Korea), TTK Prestige (India), Bajaj (India) and Whirlpool Corporation (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Regulatory Insights:
In accordance with the Energy Policy and Conservation Act of 1975 (EPCA), as amended, the U.S. Department of Energy (DOE) implements minimum efficiency standards for a wide range of appliances and equipment used in residential and commercial buildings. Within the parameters of technical feasibility and cost-effectiveness, federal efficiency standards compel product designers and manufacturers to reduce the amount of energy and water necessary for the proper operation of appliances and other building equipment.
Market Drivers
- Increasing Disposable Income and Changing Lifestyle
- Increase in Health Concerns
Market Trend
- Increasing Food Services Establishment
Restraints
- High Cost of Superior Technology
- Lack of Fuel Choice
Opportunities
Rising Demand for Smart Kitchen Appliances
Challenges
Concerns Regarding Energy Consumption
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Cooking Appliances Study Sheds Light on
The Cooking Appliances Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Cooking Appliances industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Cooking Appliances industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.