United States Electric/Induction Ranges Market to be Dominated by Residential Sector During the Forecast Period
Growing the number of food
& beverage producers and the increasing number of product launches are the
key factors driving the electric/induction ranges market in the United States.
According to TechSci Research report, “United States Electric/Induction Ranges Market”- By Region, Competition Forecast and Opportunities, 2018-2028F”, in
recent years, the US electric/induction ranges market has expanded
significantly. Electric/Induction ranges use less energy than gas ranges. These
are also more effective and long-lasting. These simple devices quickly
transform electrical energy into heat and transmit it to the cookware.
The potential of commercial induction ranges to shorten overall cooking
times, conserve energy, and offer equal heat distribution is expected to drive
a rapid increase in demand for these appliances in the future.
These primarily heat the cookware, not the stovetop. Therefore, dirt
and dust have no harmful effects on the heating process. It is anticipated that
sales of commercial induction ranges will increase over the assessment period
due to the appearance of numerous cutting-edge smart devices with unique
features.
The market is expected
to develop due to several innovations, including replacing obsolete mechanical
controls and displays with touch-screen models by kitchen appliance makers.
This will lower reliability issues and after-sale costs. Large-graphic touch
screens are also growing in popularity. Consumers are anticipated to be
motivated to buy technology-driven kitchen appliances by shifting work and
family schedules, rising desire for eco-friendly equipment, and better access
to affordable electricity. Shifting work and family
schedules, increased desire for eco-friendly equipment, and improved access to
affordable electricity are expected to stimulate consumers to purchase
technology-driven kitchen appliances.
The online marketing's
explosive growth is a significant factor in the industry's expansion. It is
projected that increasing high-tech product acceptance will boost the
development of kitchen appliances, especially cooking ranges. However, the need
for initial expenditures in specialty cookware might limit market expansion in
the immediate future. Additionally, these goods are thought to be more
expensive than standard electric/induction cooktops. However, the requirement
for initial investments in specialty cookware may limit market expansion in the
near future. Furthermore, these items are said to be more expensive than normal
electric/induction cooktops.
Additionally, the market
is expected to be driven by the expanding number of restaurants and fast-food
chains across the nation due to customers' busy lifestyles and rising
disposable income. Another essential element anticipated to stimulate growth is
increased investments made by different real estate businesses in creating
commercial infrastructure. Increased expenditures
in commercial infrastructure by various real estate enterprises are another
important factor expected to drive growth.
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data Figures spread through 70 Pages and an in-depth TOC on "United States Electric/Induction Ranges Market".
The United States
electric/induction ranges market is segmented into type, end-use, distribution
channel, region, and competitive
landscape. Based on type,
the market is segmented into freestanding and built in. Among these, the
freestanding segment is expected to hold the leading share in the market during the
forecast period because freestanding electric/induction ranges are convenient in
moving and shifting compared to built-in electric/induction ranges.
The market is
segmented into the residential and commercial sectors based on end-use. Among
these, the residential sector holds the leading share in the market during the
forecast period. A wide range of products are available from manufacturers for
residential customers. They can be entirely electric, entirely gas, or dual
fuel, which combines two fuels, typically gas and electricity. Steam ovens are
also a part of several of the newest designs. The most desirable element of a
range that encourages residential adoption is its exceptional cooking capacity,
which includes up to three ovens and a separate grill cavity.
Based on
distribution channel, the market is segmented into supermarkets/hypermarkets,
multi-branded stores, exclusive stores, contract sales, and online. Among
these, the online segment is the fastest-growing segment in the market during
the forecast period. Because millennials, generation X, and generation Z are
becoming more accustomed to and dependent upon online shopping and the
internet. In the upcoming years, e-retailers' value-added services, such as
cash-on-delivery, discounted prices, and paybacks, are anticipated to fuel
e-commerce growth. The top companies selling the nation's electric/induction
ranges online are Amazon, eBay, Walmart, Home Depot, and Wayfair.
Based on region,
the market is segmented into South, West, Mid-West, and North-East. Among
these, the Mid-West region holds the leading share in the market during the
forecast period due to the increasing product launches and availability of
various e-commerce and retail stores in the region, which fuels the demand for
the electric/induction ranges market in the United States.
Major companies
operating in the United States Electric/Induction Ranges Market are:
- Electrolux Home Products, Inc.
- Haier U.S. Appliance Solutions, Inc.
- Samsung Electronics America, Inc.
- Whirlpool Corporation
- LG Electronics U.S.A. Inc.
- Felix Storch, Inc. (Summit Appliance)
- Miele, Inc.
- SMEG U.S.A. Inc.
- Prizer-Painter Stove Works, Inc.
- BSH Home Appliances Corporation
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“The expanding
individualism culture and the sizeable food service industry contribute to the
growth of the electric/induction range market in the United States. There is an
increasing need for electric/induction ranges in the United States as more
businesses produce food and beverages. Electric/induction ranges with ovens, or
broilers are typically used in the food processing sectors to cook vast
quantities of food quickly. The US electric/induction ranges market is
anticipated to develop due to the country's growing number of food service
establishments and café culture. Additionally, as consumers' passion for
cooking and disposable income increases, the need for electric/induction ranges
across the country will grow.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“United States Electric/Induction Ranges Market By
Type (Freestanding Vs. Built in), By End-Use (Residential Vs. Commercial), By
Distribution Channel (Supermarkets/Hypermarkets, Multi-branded Stores,
Exclusive Stores, Contract Sales, and Online),
By Region, Competition Forecast & Opportunities, 2018-2028F,” has evaluated the future
growth potential of United States electric/induction ranges market and provides
statistics & information on market size, structure, and future market
growth. the report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the electric/induction ranges market in the United
States.
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