Press release
Electric Ranges Industry Is Anticipated To Grow At a CAGR of 5.3% from 2018 - QY Research
This report also studies the global market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels, distributors and Porter's Five Forces Analysis. An electric stove or electric range is a stove with an integrated electrical heating device to cook and bake. Electric stoves became popular as replacements for solid-fuel (wood or coal) stoves which required more labor to operate and maintain. Some modern stoves come in a unit with built-in extractor hoods. As the downstream consumption usually follows with developed and rapid economic growth areas, such as BRICS, the developed areas’ company prefers investing to underdevelopment regions these years. In the long run, urbanisation is expected to drive steady expansion in the kitchen appliance industry.
As of 2016, China’s urbanisation rate stood at 57.4% and is projected to go up by about one percentage point annually. Advances in urbanisation, the real estate market and smart home appliances are conducive to the development of the kitchen appliance market. The high price of contemporary devices may pose a barrier to their demand. However, with the increased disposable income of people and rising standard of living, the demand for high-end devices is expected to increase over time. Also, the growing number of single professionals or students who prefer takeaway food rather than setting up their kitchen may pose a barrier. However, the demand for these devices has been robust in the past and is projected to grow further.
The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow downward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.
In 2018, the global Electric Ranges market size was 7740 million US$ and is forecast to 11700 million US in 2025, growing at a CAGR of 5.3% from 2018. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Electric Ranges.
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This report includes the following manufacturers; we can also add the other companies as you want.
GE Appliances (Haier)
Whirlpool
Electrolux
Sears Holdings Corporation
Samsung
LG Electronics
Peerless Premier Appliance
Bosch
Sharp
Fisher & Paykel Appliances
Market Segment by Product Type
By Width
20 Inch
24 Inch
27 Inch
Market Segment by Application
Residential
Commercial
Market size split by Region
North America
Asia-Pacific
Europe
Central & South America
Middle East & Africa
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