Global Household Cooking Appliances Market to Benefit from the Rising Working Female Population

Many international market players are currently dominating the global household cooking appliances market. Furthermore, many niche industry players operating in their respective regional strongholds are offering tough competition to the international leaders. Niche industry players operating in regional household cooking appliances markets have the advantage over global leaders, as they offer customized and low-cost products that meet the region’s specific cooking needs.

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Market Dynamics: Rising Number of Smaller Households to Drive the Market

According to a market intelligence company, Transparency Market Research (TMR), the global household cooking appliances market will expand at an impressive CAGR of 29.1% during the forecasting horizon of 2012 to 2018. In 2012, the global household cooking appliances market was worth US$56.6 billion. TMR predicts that by the end of 2018, the global household cooking appliances market will be worth US$79.8 billion.

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The ever-expanding global population and especially the rising proportion of working women in it is expected to drive the global household cooking appliances market. Furthermore, the growing number of smaller households in both developing and developed countries will fuel the global household cooking appliances market. Moreover, escalating fuel prices, in turn, are adding to the popularity of induction or electrically operated appliances.

Top Market Sector: Cooktop Segment to Lead the Global Market

By product type, the global household cooking appliances market is divided into cooktops (hobs) and ovens. The sector of cooktops is further segmented into induction cooktops, electric coil cooktops, gas cooktops, and others. The segment of ovens is further classified into combination, microwave ovens, and conventional/thermal ovens. Currently, the product segment of cooktops is leading the market. This segment is generating around 46.1% of the revenue in the global household cooking appliances market.

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On the basis of geography, the global household cooking appliances market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). In Europe, the household cooking appliances market is driven by the growing consumer awareness about energy-efficient technology. Demand for the same from European consumers has resulted in rising adoption of electrically operated and induction cooking household appliances. This trend is more apparent in the developed nations of North America and Europe. Hence, the demand for products such as induction cooktops and microwave ovens is high in these regions.

Market Opportunities: Demand for Advanced Cooking Appliances

Some of the international players operating in the global household cooking appliances market are LG Electronics, Panasonic, AB Electrolux, Philips, Haier Group, Robert Bosch Gmbh, Fisher & Paykel Appliances Holdings Ltd., and Daewoo Electronics. Players in the global household cooking appliances market are focusing on emerging markets due to the rising urbanization in these regions.

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Urbanization is fueling the demand for modular kitchens in emerging markets. This in turn is creating opportunities for makers of advanced cooking appliances. In addition to this, both multinational and regional companies in the market are projected to benefit from the opportunity of developing novel and improved products. Currently, ovens and cooktops that come with a seamless design and offer a high degree of aesthetic appeal are in demand.

Related Report :

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Specialty Household Cleaners Market - http://www.transparencymarketresearch.com/specialty-household-cleaners-market.html

Refrigerated Display Cases (RDCs) and Chilled Rooms Market - http://www.transparencymarketresearch.com/refrigerated-display-cases-chilled-rooms-market.html

Though the global household cooking appliances market will experience good growth in the foreseeable future, the high initial purchase cost of these cooking appliances is expected to suppress the market. Additionally, the increasing preference for ready-to-eat foods will also hamper the growth of the global household cooking appliances market.

About Us :

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Household cooking appliances Market- Global Industry Analysis, Trends, Forecast 2012-2018

Household Cooking Appliances Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2012 - 2018, a report published by a U.S. based market intelligence organization Transparency Market Research presents a comprehensive account of the current market conditions as well as an analysis of the factors that could propel or restrain the growth of the global household cooking appliances market. The credible forecast provided with the report presents an idea of the future position of this market in the world of consumer appliances.

Browse The Market Research Report of Household Cooking Appliances Market :

http://www.transparencymarketresearch.com/household-cooking-appliances-market.html

According to the report, the global household cooking appliances market, which was valued at an estimated USD 56.6 billion in 2012 could observe a year-on-year growth at a CAGR of 29.1% during the forecast period, 2012 – 2018 and amass a market value worth nearly USD 79.8 billion by 2018.

The growth of this market is driven by a continuous demand for household appliances from the Asia Pacific and European countries. These regions are observing prominent shift in consumer choices with demand rising for technologically advanced, trendy, and environmentally friendly products.

The report mentions that the global household cooking appliances market could experience growth at a CAGR of 29.1% during the forecast period and the majority of this growth could be contributed by the rising popularity of electrical ovens of many varieties. This segment despite being the second largest product segment of the market is also currently the fastest growing one. The product segment that leads the global household cooking appliances market is that of cook-top segment, generating nearly 46.1% of the global market revenues.

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The major factors that drive this industry are macro-economic conditions such as the rising world population, increasing disposable income, constantly rising numbers of new households, and rising demand for trendy and technologically advanced household cooking appliances.

Across the Europe, the household cooking appliances market is driven by rising consumer awareness about power efficient, environmental-friendly and clean technology products. This has resulted in the rising adoption of electricity operated and induction cooking appliances.

The rising trend and adoption of modular kitchens also plays an important role in added demand for new varieties of household cooking appliances, such as microwave ovens. Also, rising consumer awareness about high-end devices and their benefits towards power and energy efficiency is resulting in added demand for high-end household cooking appliances compared to the earlier demand for economic choices.

The trend is more apparent in developed regions such as Europe and North America. As a result, products such as microwave ovens and induction cooktops are in huge demand, so much that these products are largely appearing as market drivers of this industry.

Browse Press Release of Household Cooking Appliances Market :

http://www.transparencymarketresearch.com/pressrelease/household-cooking-appliances-market.htm

The global household cooking appliances market is currently dominated by international market players such as LG Electronics, AB Electrolux, Panasonic, Philips, Haier Group, Fisher & Paykel Appliances Holdings Ltd., Robert Bosch Gmbh, and Daewoo Electronics. Other than these industry leaders, many niche industry players also operate in their regional territories and present a tough competition to the global leaders via their custom made, low-quality products that cater especially to the regional cooking styles.

About Us :

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.