Household Cooking Appliance Market Size, Share, Growth Analysis, By Product(Cooktops & Cooking Ranges, Gas Cooktops & Cooking Ranges, Electrical Cooktops & Cooking Ranges, Induction Cooktops & Cooking Ranges), By Structure(Built-in, Freestanding), By Region - Industry Forecast 2024-2031

Household Cooking Appliance Market size was valued at USD 238.16 billion in 2022 and is poised to grow from USD 252.69 billion in 2023 to USD 405.80 billion by 2031, growing at a CAGR of 6.1% in the forecast period (2024-2031).

Strong brand recognition and the presence of a diverse product portfolio allow companies such as Electrolux AB, Whirlpool Corporation, LG Electronics, and Samsung Electronics to hold a prominent share of the market. New companies need to come up with highly innovative products and marketing strategies if they wish to make a mark in this industry. household cooking appliance market players are continually investing in research and development to create innovative products that attract new customers and boost sales potential. Focus on the creation of energy-efficient and smart household cooking appliances is high in the competitive landscape. Collaborations and partnerships are also predicted to be crucial strategies adopted by household cooking appliance companies. High emphasis on sustainability is also a trend that could help household cooking appliance suppliers boost their revenue generation potential in the future. 'Whirlpool Corporation', 'Sub-Zero, Inc. (Wolf)', 'Electrolux AB', 'Sharp Corporation', 'Panasonic Corporation', 'BSH Home Appliances Group (Bosch, Siemens, Thermador)', 'LG Electronics Inc.', 'Haier Group Corporation', 'La Cornue', 'Miele & Cie. KG', 'Viking Range, LLC', 'Gorenje Group', 'Smeg S.p.A.', 'Bertazzoni S.p.A.', 'Dacor, Inc.', 'BlueStar Cooking', 'Fisher & Paykel Appliances Ltd.', 'ILVE Appliances', 'AGA Rangemaster Group Ltd.', 'Samsung Electronics Co., Ltd.'

Growing adoption of fast-paced lifestyles around the world and the rising popularity of home cooking are projected to be key factors driving household cooking appliance demand outlook. The increasing popularity of diverse cuisines is also slated to favor market growth.

Smart and Connected Appliances: Cooking appliances equipped with smart technology are gaining rapid traction among people around the world as the proliferation of technology increases in all walks of life. Smart cooking appliances can be controlled remotely from devices such as smartphones to offer more convenience for users.

Asia Pacific accounts for the highest sales of household cooking appliances around the world. The massive population of Asian countries and rising disposable income are key prospects that drive market growth in this region. China and India are estimated to emerge as the most popular markets in this region over the next ten years. Increasing urbanization is also predicted to favor sales of blenders, stoves, cooktops, and ovens in this region going forward. A high number of people living in small urban spaces could also favor demand for space-efficient cooking appliances in the Asia Pacific region across the forecast period.