DUBAI, United Arab Emirates, Dec. 30, 2022 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the global range cookers market size is expected to reach a valuation of US$ 1.3 Bn in 2022 and further grow at 4.1% CAGR between 2022 and 2032. Sales of range cookers are projected to total a valuation of US$ 2.1 Bn by 2032.
Growing adoption across residential and commercial sectors is a key factor driving the demand for range cookers in the market and the trend is likely to continue during the forecast period. This product is a freestanding kitchen appliance that comprises a cooktop and an oven in one unit. Range cookers are available in various sizes and styles for both commercial and residential use.
A range cooker's size is usually larger than that of a standard built-in or stand-alone oven. A number of more recent range hoods feature a built-in rack for trays and pots. New range hoods are available in a variety of monochrome and pastel colours, giving them a trendy appearance in contemporary kitchens.
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The global market for cookers will be driven by improving consumer purchasing power due to the growing economies and urbanization. In addition, the promotion of female entrepreneurship is predicted to boost the market during the forecast period.
Consumers want kitchen appliances that keep up with their fast-paced and demanding lives, while also permitting them to save time in the kitchen. Millennials frequently purchase range cookers for the sake of long-term culinary convenience. Range cookers are being increasingly used in business contexts such as take-out food delivery services and multi-cuisine restaurants.
Thus, rapid growth of restaurants, hotels, cafeterias, and several other commercial sectors will generate high demand for range cookers during the forecast period. Similarly, innovation in range cooker technology and design is expected to create lucrative opportunities for manufacturers during the forecast period.
Key Takeaways from the Range Cookers Market Study
- By product type, the dual fuel range segment is expected to grow at the fastest CAGR of more than 4.0% during the forecast period
- Based on application, the residential segment is expected to grow at a CAGR of 5.4% over the forecast period.
- The U.S range cookers market is anticipated to touch a valuation of US$ 304.5 Mn by 2032
- China’s range cookers market is likely to cross US$ 443.0 Mn by the end of 2032.
- The U.K. range cookers market is projected to grow at a CAGR of 4.3% over the forecast period.
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“Growing popularity of modular kitchens across the world is expected to boost the range cookers market during the forecast period. Besides this, the introduction of robotic range cookers will further elevate demand in the market over the next ten years”, says a lead FMI analyst.
Who is Winning?
Product innovation and R&D are top priorities for major industry players as they work to provide products with a variety of oven and hob combinations. They are also adopting strategies such as partnerships, mergers, acquisitions, collaborations, and strengthening distribution channels to expand their global footprint.
Major players present in the Range Cookers market are GE Appliances; SAMSUNG; Premier; Monogram; LG Electronics; Frigidaire; THERMADOR; Dacor, Inc.; Whirlpool Electric, LG Electronics, Panasonic, Miele & Cie KG, Hisense, INC., Gree Electric Appliances Inc., Sony Corporation, and Skyworth among others.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the global range cookers market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the range cookers market based on the product type (electric & dual range), burner type (single burner, double burner, three burner, four burner, more than 4), application (residential, commercial), and sales channel (hypermarkets/supermarkets, convenience stores, others) across seven major regions.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Key Statistics
1.3. Summary of Key Findings
1.4. Product Evolution Analysis
1.5. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Winning Themes
3.3. Key Product Development Trends
3.3.1. Product Launches
3.3.2. Acquisition & Mergers
3.3.3. Expansion
4. Global Market Demand Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Volume (‘000 Units) Analysis, 2017-2021
4.2. Current and Future Market Volume (‘000 Units) Projections, 2022-2032
4.3. Y-o-Y Growth Trend Analysis
5. Global Market - Pricing Analysis
5.1. Regional Pricing Analysis By Product Type
5.2. Pricing Break-up
5.2.1. Manufacturer Level Pricing
5.2.2. Distributor Level Pricing
5.3. Global Average Pricing Analysis Benchmark
Complete TOC with Report Preview: https://www.futuremarketinsights.com/reports/range-cookers-market
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