Electric Ranges Market

The global Electric Ranges market was valued at 819.37 Million USD in 2021 and will grow with a CAGR of 5.25% from 2021 to 2027.
 

The prime objective of Electric Ranges Market is to provide the insights on the post COVID-19 impact wwhich will help market players in this field evaluate their business approaches. Also, Electric Ranges Market covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).

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.
 

By Market Verdors:

• GE Appliances (Haier)
• Whirlpool
• Electrolux
• Sears Holdings Corporation
• Samsung
• LG Electronics
• Peerless Premier Appliance
• Bosch
• Sharp
• Fisher & Paykel Appliances
• Viking Range
• Wolf Appliance
• Danby Products Limited
• Felix Storch, Inc.

By Types:

• 20 Inch
• 24 Inch
• 27 Inch
• 30 Inch
• Others
• 1 Burner

By Applications:

• Residential
• Commercial

Key Indicators Analysed

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• Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the markets competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
• Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.
• Market Trends: Market key trends which include Increased Competition and Continuous Innovations.
• Opportunities and Drivers: Identifying the Growing Demands and New Technology
• Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

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