Market Size (2022)
Fastest Growing Segment
Global Large Cooking Appliance Market has valued at USD36.18 billion in
2022 and is anticipated to project robust growth in the forecast period with a
CAGR of 5.4% through 2028. The main growth factors are the rising standard of
living and the inclination of consumers for modular kitchens. In addition to
cooktops, ovens, and specialized appliances like fryers, steamers, and
grillers, large cooking appliances also contain ovens. It is expected that
demand for specialized and efficient cooking appliances will increase due to
the rapid depletion of natural resources including LPG, wood, and other
Large cooking appliances include cooktops, ovens, and other kitchen
equipment such as steamers, grillers, and fryers. Rapid exhaustion of natural
resources such as wood and LPG has led to the rising demand for efficient and
specialized cooking appliances. Large kitchen equipment are now a necessary
component of contemporary kitchens and play a vital role in households. The
demand for large cooking appliances has increased as a result of an increase in
the number of restaurants and cafes open to the general public due to the
growing working population. Due to the prevalence of conventional cooking
appliances, nations like India, Brazil, and China present a variety of growth
chances to manufacturers, consequently enhancing the opportunities for
up-and-coming firms and new entrants. For instance, companies like Siemens,
Whirlpool, and Miele are providing high-end items to these nations by forming
alliances with local developers to broaden the reach of their offerings.
Modern cooking equipment is becoming increasingly necessary as the
number of restaurants and public cafes rises. Better customer service is made
possible by modern culinary equipment. Due to these factors, a CAGR of 6.6% is
predicted for the commercial segment during the forecast period. Among all of
them, this one moves along the quickest. For its commercial clients, top
manufacturers like Vulcan and Haier produce ovens, grills, and other equipment.
Food consumed away from home has emerged as a new trend as the number of
working women increases. The demand for products in the business sector is
anticipated to rise more as a result of this trend. Due to the low penetration
of these appliances, developing nations will draw in first-time purchasers, creating
a lucrative opportunity for the makers. To increase their product sales, major
brands like Siemens, Miele, and Whirlpool are concentrating on these developing
areas. The market expansion in this region is being constrained, nonetheless,
by the low level of adoption of these products from South East Asian nations.
India, Indonesia, Sri Lanka, and others are among these nations. The demand for
these gadgets is also being hampered in low- and middle-income nations by the
high energy consumption of these devices.
Key Market Drivers
Changing Consumer Lifestyles
Consumer lifestyles have evolved considerably in recent years, leading
to a shift in cooking habits and appliance preferences. An increasingly
fast-paced life, dual-income households, and the desire for convenience have
all contributed to the rise in demand for large cooking appliances.
In today's world, consumers seek appliances that save time and simplify
the cooking process. Large cooking appliances, such as electric ranges and
ovens, offer features like convection cooking, precise temperature control, and
pre-programmed cooking modes, making it easier for individuals to prepare meals
efficiently. Moreover, the trend towards healthier eating has increased the
need for appliances that can handle a variety of cooking techniques, such as
roasting, grilling, and baking, all of which are achievable with large cooking
The pandemic also played a role in changing consumer lifestyles.
Lockdowns and social distancing measures led more people to cook at home,
encouraging them to invest in high-quality cooking appliances. As a result,
manufacturers are constantly innovating to cater to these evolving consumer
Advancements in technology have been a driving force in the large
cooking appliances market. Smart appliances equipped with Wi-Fi connectivity,
touch-screen interfaces, and mobile app integration have gained popularity.
These innovations allow consumers to control their appliances remotely, access
recipes, and receive notifications on cooking progress.
Furthermore, technological improvements in heating elements and sensors
have enhanced cooking precision and efficiency. Induction cooktops, for
instance, have gained traction due to their rapid heating capabilities and
precise temperature control. Consumers are increasingly drawn to appliances
that offer energy efficiency, helping reduce utility bills and environmental
impact. In addition to smart features, the use of materials like stainless
steel and tempered glass has improved the durability and aesthetics of large
cooking appliances. These materials not only enhance the overall look of the
kitchen but also make appliances easier to clean and maintain.
Energy Efficiency and Environmental Concerns
With growing environmental awareness, consumers are increasingly
conscious of energy efficiency and the environmental impact of their
appliances. This has driven the demand for large cooking appliances that are
energy-efficient and eco-friendly. Manufacturers have responded by developing
appliances that meet stringent energy efficiency standards and use eco-friendly
materials. Energy-efficient ovens and stoves not only save consumers money on
their utility bills but also reduce greenhouse gas emissions. The adoption of
induction cooking, which is more energy-efficient than traditional gas or
electric coil cooking, has been particularly noteworthy in this regard.
Moreover, some large cooking appliances now come with features like
self-cleaning functions that use less energy and fewer chemicals compared to
traditional cleaning methods. These innovations align with consumers' desires
for both convenience and environmental responsibility.
Urbanization and Kitchen Space Constraints
Urbanization trends have had a significant impact on kitchen designs and
the choice of large cooking appliances. In densely populated urban areas, space
is often limited, and kitchens are smaller. This has led to the demand for
compact and space-saving large cooking appliances that still offer high
Manufacturers have responded with innovative designs, such as slide-in
ranges and wall ovens, which fit seamlessly into smaller kitchen spaces. These
appliances maximize cooking capacity without occupying excessive floor space. Additionally,
the use of modular kitchen layouts allows consumers to customize their cooking
areas to meet their specific needs. The trend towards open-concept living
spaces has also influenced the design of large cooking appliances. Appliances
with sleek and minimalist aesthetics are preferred, as they blend well with the
overall interior design of modern homes.
Economic Factors and Housing Market
Economic conditions and the state of the housing market play a pivotal
role in the large cooking appliances market. When the economy is robust and the
housing market is thriving, consumers are more likely to invest in upgrading
their kitchens and purchasing high-end cooking appliances. Conversely, during
economic downturns or periods of uncertainty, consumers may delay or scale back
on home renovations, impacting the demand for large cooking appliances.
Therefore, the health of the economy and the housing market is a major driver
of this industry. Government incentives and policies related to housing and
energy efficiency can also influence consumer choices. For instance, tax
credits for energy-efficient appliance purchases can stimulate demand for large
cooking appliances that meet these criteria.