Global Large Cooking Appliance Market Size To Worth USD 67.19 Billion By 2033: Market Insight Report

Global Large Cooking Appliance Market Size To Worth USD 67.19 Billion By 2033

According to a research report published by Spherical Insights & Consulting, The Global Large Cooking Appliance Market Size is Expected to Grow from USD 32.50 Billion in 2023 to USD 67.19 Billion by 2033, at a CAGR of 7.53 % during the forecast period 2023-2033. 

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Large Cooking Appliance Market Size, Share, and COVID-19 Impact Analysis, By Product (Cooktops, Ovens, and Specialized Appliances), By Application (Household and Commercial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.     

The large cooking appliance market encompasses various kitchen appliances designed for residential and commercial cooking purposes, including ovens, cooktops, ranges, and microwave ovens. These appliances play an integral role in modern kitchens, facilitating efficient cooking processes and meeting the diverse culinary needs of consumers. The market has grown significantly, driven by rising consumer demand for advanced, energy-efficient, and multifunctional appliances. Increasing urbanization, coupled with the growing trend of modular kitchens, has further bolstered the adoption of large cooking appliances. The market's expansion is significantly influenced by technological advancements, including smart and connected appliances offering features such as remote control, energy monitoring, and voice assistance. Additionally, increasing disposable incomes, changes in lifestyle, and a growing preference for home-cooked meals have fueled the demand for high-performance cooking appliances. However, the market faces certain restraints, such as the high initial costs of technologically advanced appliances and fluctuating raw material prices.

The cooktops segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the product, the large cooking appliance market is classified into cooktops, ovens, and specialized appliances. Among these, the cooktops segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. This dominance can be attributed to the widespread adoption of cooktops in both residential and commercial settings due to their versatility and efficiency. Furthermore, technological advancements such as induction cooktops, which offer faster cooking and energy efficiency, have significantly boosted their popularity.

The household segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR during the forecast period.    

Based on the application, the large cooking appliance market is divided into household and commercial. Among these, the household segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. This dominance can be attributed to the rising global demand for modern kitchen appliances, fueled by urbanization, increasing disposable incomes, and the growing trend of home cooking.

North America is estimated to hold the greatest large cooking appliance market share over the forecast period.

North America is estimated to hold the greatest large cooking appliance market share over the forecast period. High disposable incomes and strong preferences for high-performance, energy-efficient appliances drive demand in the region. Moreover, the wide penetration of smart home technologies and increasing kitchen remodeling and renovation activities will be likely to spur the large cooking appliance demand in North America.

Asia-Pacific is predicted to have the fastest CAGR growth in the large cooking appliance market over the forecast period. Increased disposable incomes in the region are raising consumer expenditure on high-quality, advanced cooking appliances. Urbanization and modern lifestyles also promote this trend because more people look for convenient and efficient cooking solutions, such as smart and modular kitchen appliances. Technological advances, including smart features, energy efficiency, and connectivity, attract consumers who desire the latest kitchen convenience.

Company Profiling

Major key players in the large cooking appliance market are Samsung Electronics Co. Ltd., LG Electronics Inc., Morphy Richards, Whirpool Corporation, Hitachi Appliances Inc., AB Electrolux, Haier Group Corporation, Robert Bosch GmbH, Koninklijke Philips N.V, and Hitachi Appliances Inc.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In April 2024, SAMSUNG, a prominent company in the consumer electronics industry, demonstrated its latest portfolio additions empowered by Artificial intelligence technology, including a Smart AI induction cooktop (80cm).

Market Segment

This study forecasts global, regional, and country revenue from 2023 to 2033. Spherical Insights has segmented the large cooking appliance market based on the below-mentioned segments:

Global Large Cooking Appliance Market, By Product

• Cooktops
• Ovens
• Specialized Appliances

Global Large Cooking Appliance Market, By Application

• Household
• Commercial

Global Large Cooking Appliance Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa