Household Cooking & Appliance Manufacturing Industry
Growing Adoption of AI-Integrated and IoT-Enabled Appliances among Consumers Driving Need for Household Cooking & Appliance Manufacturing: Fact.MR Report
ROCKVILLE, MD, UNITED STATES, January 29, 2025 /
EINPresswire.com/ -- Turnover of the global
Household Cooking & Appliance Manufacturing Market is estimated at US$ 627.89 billion in 2024. According to a new research report by Fact.MR, a market research and competitive intelligence provider, the market is approximated to rise at a notable CAGR of 8.4% throughout the forecast period (2024 to 2034).
Household cooking and appliance production is changing because of technological advancements that increase convenience and personalization, particularly concerning IoT-enabled goods and AI integration. IoT connectivity enables remote smartphone control of equipment, enabling faultless culinary management even when consumers are not at home. Several AI-based technologies offer customized solutions, such as recipe suggestions, automated temperature controls, and predictive maintenance alerts that improve equipment performance and expedite processes.
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Since these advancements satisfy consumer needs for automation, convenience, and a contemporary lifestyle, smart cooking appliances play a significant role in driving market expansion.
North America is projected to hold a significant portion of revenue because high-end and technologically advanced devices are so widely adopted. Voice-activated and AI-integrated equipment, smart kitchen appliances, and energy-efficient versions are all gaining popularity in the area.
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The worldwide market for household cooking & appliance manufacturing is forecasted to reach a valuation of US$ 1,402.8 billion by 2034-end. Revenue of the North American region is approximated at US$ 109.63 billion in 2024.
The market in China is analyzed to expand at a CAGR of 10.2% through 2034. By 2034, the market in South Korea is projected to achieve a size of US$ 225.06 billion.
The demand for refrigerators and freezers is estimated to reach US$ 210.68 billion in 2024. The market in East Asia is forecasted to reach US$ 830.13 billion by the end of 2034. Revenue from retailers is analyzed to reach US$ 714.59 billion by 2034-end.
“Leading household cooking and appliance manufacturing companies are focusing on launching advanced features for their products, including Internet of Things connectivity, AI integration, and energy efficiency,” says Fact.MR analyst
Leading Players Driving Innovation in the Household Cooking & Appliance Manufacturing Market:
The Key Players in the Household Cooking & Appliance Manufacturing Industry include Whirlpool Corporation; LG Electronics; Samsung Electronics; Electrolux AB; BSH Home Appliances (Bosch & Siemens); Miele; Panasonic Corporation; GE Appliances; Haier Group; Sub-Zero Group
Country-wise Insights:
The growing popularity of high-end, technologically sophisticated devices is expected to give the North American region a sizable proportion of the global market for household cooking and appliance manufacture. Voice-activated and AI-integrated equipment, smart kitchen appliances, and energy-efficient versions are all gaining popularity in the area.
Why Are Home Appliances and Cooking Equipment Becoming More Popular in the US?
Time-saving appliances are becoming more and more popular in the US as working families and individuals become more prevalent. More customers are searching for gadgets that reduce cooking times and make food preparation easier.
These multipurpose appliances, such slow cookers, pressure cookers, and combination ovens, among others, enable the faster and more effective preparation of multiple dishes or culinary techniques. The United States is seeing an increase in the usage of domestic cooking and appliances as a result of this trend.
What Makes South Korea a Desirable Market for Manufacturers of Home Appliances and Cookware?
South Korea's tech-savvy population and technological know-how are driving up demand for smart-home gadgets. Since efficiency and convenience are highly valued by many citizens of the nation, appliances with IoT integration, AI-powered culinary assistance, and remote operation capabilities are increasingly becoming the best option. AI-powered ovens, app-controlled refrigerators, networked kitchen devices, and other smart appliances are in keeping with Korea's advanced digital environment and lifestyle.
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Sales of Household Cooking & Appliances Continue to be High from Retailers
Due to their ability to provide customers with a hands-on shopping experience, retailers account for a sizable percentage of the global market revenue. Physical stores increase confidence and trust by allowing customers to see, assess, and test products before making a purchase, especially for pricey equipment, such as ovens and refrigerators.
Retailers also offer financing options, installation help, and personalized customer service to further enhance ease. Several retailers have also implemented omnichannel strategies, which integrate online and physical sales, to meet client expectations and maintain their market leadership.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the household cooking & appliance manufacturing market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product & service (refrigerators & freezers, dishwashing machines, laundry appliances, cooking appliances, others) and major market (retailers, wholesalers, consumers), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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