Why Are Electric Stoves Gaining Popularity In The Household Cooking Appliance Market?

The Business Research Company’s Household Cooking Appliance Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, March 18, 2022 /EINPresswire.com/ — Growing popularity of energy-efficient cooking appliances is expected to increase the demand for electric stoves and drive the household cooking appliance market growth. Cooking efficiency of electric stoves is high when compared to gas cooktops as majority of the heat energy through gas cooktops is not transferred while cooking. Electric stoves are designed to consume minimum energy and provide easy temperature control. For instance, with the introduction of energy efficient appliances, the US government is spending 56% less on energy requirements thereby reducing emissions.

The global household cooking appliance market size is expected to grow from $110.76 billion in 2021 to $121.17 billion in 2022 at a compound annual growth rate (CAGR) of 9.4%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The household cooking appliance market is expected to reach $165.77 billion in 2026 at a CAGR of 8.2%.

Read more on the Global Household Cooking Appliance Market Report:
https://www.thebusinessresearchcompany.com/report/household-cooking-appliance-global-market-report

Companies in the household cooking appliance market are increasingly launching technologically-advanced multi-functional ovens to cater to the rising demand for multi-functional appliances with additional benefits. These multi-functional ovens use a wide range of methods to provide customized and easy cooking. These ovens use devices to guide and instruct users in the process of cooking. Apart from these, they also come with catalytic and pyrolytic self-cleaning functions. The catalytic self-cleaning feature allows the use of special chemical installed liners to absorb grease, while the pyrolytic self-cleaning function of these ovens allows them to clean the dirt and grease using high temperatures. For instance, Electrolux’s EOY5851AAX oven uses different programs and functions to make the process of cooking easy and customized. It has the pyrolytic cleaning technology that allows self-cleaning.

Major players covered in the global household cooking appliance industry are LG Electronics Inc, Electrolux AB, Panasonic, Haier Group, Whirlpool Corporation, SMEG, Kenmore, Samsung Electronics, Galanz Enterprise Group, and Philips.

Asia Pacific was the largest region in the global household cooking appliance market in 2021. Western Europe was the second-largest region in the household cooking appliances market. The regions covered in the household cooking appliance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

TBRC’s global household cooking appliance industry analysis report is segmented by product into electric stoves, microwave ovens, barbecues and grills, others, by application into household, commercial, by fuel type into cooking gas, electricity.

Household Cooking Appliance Global Market Report 2022 – By Product (Electric Stoves, Microwave Ovens, Barbecues And Grills, Others – Household Cooking Appliance), By Application (Household, Commercial), By Fuel Type (Cooking Gas, Electricity) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a household cooking appliance market overview, forecast household cooking appliance market size and growth for the whole market, household cooking appliance market segments, geographies, household cooking appliance market trends, household cooking appliance market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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