According to newly released data from Future Market Insights (FMI), the built-in large cooking appliances market is estimated at USD 12.2 billion in 2023 and projected to grow to USD 21.8 billion by 2033, achieving a robust CAGR of 5.9%. With approximately 7%-10% of the kitchen appliance market, this sector is experiencing significant growth driven by rising consumer demand for energy-efficient and technologically advanced products.
As smart home technology gains traction, consumers are increasingly opting for appliances featuring connectivity and advanced functionalities, such as touchscreens and remote monitoring via smartphones. Moreover, the heightened awareness of energy consumption has led many to prioritize Energy-Star rated appliances, pushing manufacturers to innovate towards sustainability.
Key Drivers of the Built-In Large Cooking Appliances Market
- Smart Home Technology: Increasing consumer interest in modern appliances with connectivity features, such as touchscreens and remote monitoring.
- Energy Efficiency Awareness: Rising concern over energy consumption prompting consumers to choose Energy-Star rated appliances.
- Growing Disposable Income: Increased buying power leading to a preference for high-end, built-in kitchen solutions.
- Urbanization Trends: The demand for space-saving appliances in compact living environments driving market growth.
- Changing Consumer Habits: A shift toward modern kitchen styles and the adoption of built-in solutions due to convenience and aesthetics.
- Retail Landscape Evolution: The rise of modern retail formats, such as malls and supermarkets, attracting more consumers to built-in kitchen appliances.
Key Takeaways
- The built-in large cooking appliances market is projected to grow from USD 12.2 billion in 2023 to USD 21.8 billion by 2033, at a CAGR of 5.9%.
- Smart home technology and connectivity features are significantly boosting consumer interest in modern kitchen appliances.
- Growing awareness of energy efficiency is driving consumers toward Energy-Star rated products.
- Increased disposable income is leading to a preference for high-end built-in kitchen solutions.
- Urbanization is fueling demand for space-saving built-in appliances in compact living spaces.
- The evolving retail landscape, including modern formats, is enhancing consumer access to built-in cooking appliances.
- Manufacturers are prioritizing sustainability and eco-friendly practices to meet consumer demands.
- The commercial sector’s investment in modern kitchen equipment is significantly contributing to market growth.
Tap into Expertise: Discuss with Our Analyst on Email: sales@futuremarketinsights.com
Built-in Large Cooking Appliances Market by Category
Product Type:
- Built-in Cooktops
- Built-in Ovens
- Others
By Application:
- Commercial
- Residential
By Sales Channel:
- Wholesalers/Distributors
- Multi-Brand Stores
- Specialty Stores
- Hypermarket/Supermarkets
- Online Retailers
- Other Sales Channel
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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