Demand for Electric Grills Soars on Back of Their Versatility and Energy-Efficiency
The global residential electric grill market is estimated to grow at a CAGR of over 7% during the forecast period (2019-2029) and reach a value pool of over US$ 900 Mn by the end of the forecast period.
Residential electric grills are expected to see increased demand in the near future in view of their versatility for indoor use and energy-efficient attributes.
That is set to have a huge effect on the future growth of residential electric grill industry.
In the forecast timeframe, millennials will become the largest residential electric grill utilizers globally. However, the millennial population covers a majority of the share in developed regions, such as North America and Europe.
Consumers are searching for lightweight alternatives in items of all sorts, and cooking appliances are no exception. Such factors are expected to give impetus to the residential electric grill market over the forecast period (2019-2029)
North America to Witness High Demand Growth, While Prospects in Latin America Remain Optimistic
Presently, North America is the market leader in the global residential electric grill market, holding a share of more than 30%. Grilling and barbecuing in North America is no longer considered a recreational practice but an integral part of the lifestyle of consumers.
Moreover, enthusiasm for spicy food is suggesting a bright future for the grilling & barbecue industry and residential electric grills in general.
According to a consumer survey by HPBA (Hearth, Patio and Barbecue Association), more than one-third of customers in North America are looking to purchase new grills, with residential electric grills accounting for approximately 10% of the overall sales.
The residential electric grill market in Latin America is projected to grow rapidly (~6.5 per cent) with the growing popularity of stay-at-home cooking and grilling.
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Indoor Use to Remain the Largest Application Segment over the Forecast Period
The use of residential electric grill for indoor use is projected to be the most prominent and holds a market share of over 70% in the application category.
Customer lifestyle trends in developed economies are gradually leading to high adoption of indoor residential electric grills.
When exiled to a single location where gas and charcoal are not permitted to be used, electricity is the last resort for consumers who are looking to savor grilled food.
A significant portion of electric grill production in the past, however, has low-voltage features that impart low power and do not completely meet grilling requirements.
Product Innovation Enabling Leading Players to Hold About 2/4th of the Market Share
The global residential electric grill market is highly fragmented. The market includes a significant number of small and medium players.
Some of the leading players include The
- The Middleby Corporation
- Koninklijke Philips N.V.
- Robert Bosch GmbH
- Kenyon International Inc.
- Weber-Stephen Products LLC.
Renowned players in the residential electric grill market are focusing on evolving on the latest technology and incorporating new features in their residential electric grill offerings, such as temperature sensing technology.
Major competitors participating in the overall residential electric grill market concentrate on product launch approaches driven by creativity. Recently, Phillips Koninklijke N.V. introduced a smoke less indoor grill with up to 80 per cent less smoke.
The integration of several technologies into residential electric grills is furthering the production of innovative cooking products in response to the growing demand for convenience from consumers.
Manufacturers are incorporating state-of-the-art technology by offering Wi-Fi and Bluetooth-enabled residential electric grills to customers, which have gained substantial interest worldwide.
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Global Residential Electric Grill Market: In-Depth Assessment on Key Segments
The global residential electric grill market is segmented on the basis of product, power rating, cooking area, price range, application, distribution channel and region
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Country-specific assessment on demand for residential electric grill has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous residential electric grill manufacturers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target application areas.
The report provides detailed competitive and company profiles of key participants operating in the global residential electric grill market.
Global Residential Electric Grill Market – Scope Of The Report
The following report provides forecast and analysis of the global residential electric grill market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of value (US$ Mn) and volume (Units) according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global residential electric grill market along with several macro-economic indicators.
This newly published and insightful report on residential electric grill sheds light on key dynamics, and their impact on the overall value chain from manufacturers, suppliers to end-users, which are expected to transform the future of the global residential electric grill market.
The report also comprises the study of current issues with end users and opportunities for residential electric grill. It also contains value chain analysis, including the key market participants.
To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of residential electric grill manufacturers on parameters such as total revenue, product specifications, and key strategies.
A list of key companies operating in the residential electric grill market provided in the report adds to the credibility of this exhaustive research study.
Global Residential Electric Grill Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications.
Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research.
The report also includes a description of assumptions and acronyms utilized for research purposes.
Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights in the residential electric grill market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the residential electric grill market, which includes global GDP growth rate, various industries growth rate, such as the retail sector and e-commerce.
This report serves as an authentic resource of intelligence on the residential electric grill market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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