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In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Electric Ranges market for 2018-2023.
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.
Over the next five years, LPI(LP Information) projects that Electric Ranges will register a 5.2% CAGR in terms of revenue, reach US$ 10500 million by 2023, from US$ 7740 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Electric Ranges market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
- By Width
- 20 Inch
- 24 Inch
- 27 Inch
- 30 Inch
Segmentation by application:
This report also splits the market by region:
- - United States
- - Canada
- - Mexico
- - Brazil
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- - Germany
- - France
- - UK
- - Italy
- - Russia
- - Spain
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
- GE Appliances (Haier)
- Sears Holdings Corporation
- LG Electronics
- Peerless Premier Appliance
- Fisher & Paykel Appliances
- Viking Range
- Wolf Appliance
- Danby Products Limited
- Felix Storch, Inc.
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
- To study and analyze the global Electric Ranges consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
- To understand the structure of Electric Ranges market by identifying its various subsegments.
- Focuses on the key global Electric Ranges manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Electric Ranges with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the consumption of Electric Ranges submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.