Household Cooking Appliances: A Global Strategic Business Report
San Jose, CA (PRWEB) March 3, 2008
World household cooking appliances market stands enthused by the huge untapped potential in developing countries like China, and India. Migration from rural to urban areas is resulting in a parallel rise in the urban population in developing countries, thereby contributing towards greater demand and uptake of modern cooking appliances. Widespread access to consumer loans, and credit is also expected to additionally unlock demand among middle and lower income households. In mature, developed markets, incremental growth is led predominantly by replacement sales, while in the developing markets new, first time sales contribute towards a large portion of the total growth. Continuous product innovation is expected to be crucial in keeping consumer enthusiasm alive, especially in developed markets where quality innovations help generate replacement sales. Efficient energy-usage, reduced noise level, automatic controls, consumer safety, cooking flexibility, versatility, easy maintenance, and varied colors, styles, and designs are all major product attributes promoted in recent years, to augment sales in developed countries.
The growing popularity of outdoor living, dining and eating is leading to a rise in demand for outdoor kitchens. This is expected to translate into increased market opportunities for outdoor grills, hobs, and ranges. The widespread acceptance of the low-carbohydrate, and high protein Atkins diet is leading to a spurt in meat consumption. And the meat heavy diet of consumers is spelling out attractive business opportunities for barbecue grills. Health conscious eating habits is creating a strong demand for health grills, which help reduce fat content in food being cooked. Rising energy prices are leading to increased demand for energy efficient cooking appliances. Benefiting from the trend are induction hobs and cookers, which are expected to score maximum gains in the marketplace in the upcoming years. Low market penetration of microwave ovens in developing countries offer lucrative potential for future growth in sales. The frenzied pace of modern lifestyles is expected to play its role in popularizing the convenience, faster and ease of cooking benefits offered by microwave ovens.
As stated by the recent report published by Global Industry Analysts, Inc., world market for household cooking appliances is dominated by Asia-Pacific, and Europe with a combined 61.8% share estimated in the year 2007. Sales in Asia-Pacific are forecast to rise by 18.6 million units between the period 2007 to 2012. For the same period, in the United States, sales are projected to rise by approximately 14.9%. In Latin America, and Middle East/Africa, together, sales are projected to reach 26.6 million units by the year 2012. In Europe, Western Europe corners a 76.9% share of the household cooking appliances market, while the remaining is accounted for by Central and Eastern Europe. Strong growth of 5.4%, over the analysis period of 2003 to 2012, is however expected to stem from Central and Eastern Europe comprising of Turkey, Bulgaria, Czech Republic, Hungary, Poland, Romania, and Slovakia.
Leading global and regional players operating in the industry include AB Electrolux, BSH Bosch Und Siemens Hausgerate GmbH, Bosch USA, Siemens-Electrogeräte GmbH, Daewoo Electronics Corporation, GE Appliances, Fisher & Paykel Appliances Holdings Limited, Haier Group Company, Kenwood Limited, LG Electronics, Morphy Richards Ltd, Panasonic Corporation of North America, Whirlpool Corporation, Samsung Electronics Co Ltd., SANYO North America Corporation, Sharp Corporation, Toshiba Consumer Marketing Corporation, Videocon Industries Limited, Cuisinart, Dacor, and Wolf Appliance Company, among several others.
The report titled "Household Cooking Appliances: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, issues, and challenges. Richly annotated with authoritative, and unbiased commentaries, and hard-to-find statistical facts, the report provides unequivocal views on future potential while throwing light on the prevailing climate in key regional markets. Latent demand patterns for household cooking appliances are quantified across major geographic market verticals including the United States, Canada, Europe, Asia-Pacific, Latin America, and Middle East/Africa. Also provided in the report is an enumeration of recent mergers, acquisitions, and other strategic industry activities.
For more details about this research report, please visit http://www.strategyr.com/Household_Cooking_Appliances_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
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