Range Cooker Market, By Fuel Type (Gas, Electric, Dual Fuel, and Others), By Size (Small, Medium, Large, and Others), By Application (Residential, Commercial, and Others), and By Region Forecast to 2032
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The global range cooker market size was USD 6.8 billion in 2022 and is projected to grow to USD 9.2 billion by 2032, registering a revenue CAGR of 3.5% during the forecast period. One of the major factors driving the growth of this market is the increasing demand for high-end kitchen appliances. The appeal of gourmet cuisine and the rising number of residential and commercial kitchens are also contributing to the growth of the market.
Range cookers are known for their robustness, energy efficiency, and cutting-edge features. They include multiple ovens, griddles, and burners, which make them an ideal choice for people who love to cook. As disposable income rises and lifestyle trends shift towards luxury, range cookers are becoming increasingly popular. Furthermore, people are becoming more health conscious and prefer freshly prepared, nutrient-dense food. This trend towards home-cooked meals is driving the demand for range cookers.
In addition to the residential market, the commercial sector is also contributing to the growth of the range cooker market. The foodservice industry, which includes restaurants, hotels, and cafes, is expanding rapidly. As a result, the demand for high-performance kitchen appliances such as range cookers is increasing.
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Market Segments: –
In terms of fuel type, the market is segmented into gas, electric, dual fuel, and others. Gas range cookers are powered by natural gas or propane, while electric range cookers are powered by electricity. Dual fuel range cookers combine the features of both gas and electric range cookers. The “others” segment includes range cookers that use unconventional sources of energy such as wood or coal.
Based on size outlook, the market is segmented into small, medium, large, and others. Small range cookers are typically less than 60 cm in width, medium range cookers are between 60-90 cm, and large range cookers are more than 90 cm in width. The “others” segment includes range cookers that are larger or smaller than the standard sizes.
By application outlook, the range cooker market can be segmented into residential, commercial, and others. Residential range cookers are used in households for cooking purposes. Commercial range cookers are used in restaurants, hotels, and cafes for cooking large quantities of food. Geographically, the range cooker market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Strategic developments in the market:
· In 2021, Aga Rangemaster Group Plc launched its Elan 110 range cooker, which features a five-zone induction hob and an energy-efficient oven. The range cooker is designed for both professional and home cooks, with a sleek and modern design.
· In 2020, Sub-Zero Group Inc. launched its Wolf M Series range cooker, which features four burners and a convection oven. The range cooker is designed for professional chefs and home cooks who want a high-end cooking experience.
· In 2020, LG Electronics Inc. launched its SmartThinQ™ range cooker, which features Wi-Fi connectivity and can be controlled using a smartphone app. The range cooker is designed for tech-savvy consumers who want to control their appliances from anywhere.
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Competitive Landscape:
The global range cooker market is highly competitive and is dominated by a few major players. These key players are using various tactics such as mergers, acquisitions, partnerships, and collaborations to expand their market presence. The major companies operating in the global range cooker market include Aga Rangemaster Group Plc, Sub-Zero Group Inc., LG Electronics Inc., AB Electrolux, Whirlpool Corporation, Haier Group Corporation, Samsung Electronics Co. Ltd., Miele & Cie. KG, Viking Range, LLC, and Bertazzoni S.p.A.
These players are investing in research and development activities to develop innovative and efficient range cookers that offer unique features and benefits to their customers. They are also focusing on expanding their product portfolios and increasing their production capacities to cater to the growing demand for range cookers across the globe. With the increasing adoption of smart home appliances, these players are also developing smart range cookers that can be controlled remotely using smartphones and other connected devices.
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