Residential Oven Market Size
Residential Oven Market was valued at USD 18.8 billion in 2023 and is set to grow at a CAGR of over 5.9% from 2024 to 2032. The increase in urbanization and apartment living especially in densely populated areas will invigorate the industry dynamics. Additionally, the continuing trend of home renovation and remodeling projects will significantly influence the business demand curve.
Ovens for the home are important culinary tools that are made for baking, roasting, and broiling. Modern systems have advanced features like self-cleaning, programmable cooking settings, and smart technology that lets you manage and monitor them from your phone. These appliances are quite important for cooking at home because they make it easy and quick to make a wide selection of dishes.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Residential Oven Market Size in 2023 | USD 18.8 Billion |
| Forecast Period | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR | 5.9% |
| 2032 Value Projection | USD 31.3 Billion |
| Historical Data for | 2021 - 2023 |
| No. of Pages | 120 |
| Tables, Charts & Figures | 45 |
| Segments covered | Fuel, Capacity & Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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Residential Oven Market Trends
The domestic oven market will see a lot of growth thanks to new technologies and changing customer tastes. The rise in interest in cooking and baking at home, thanks to social media and food shows, is increasing the need for high-performance appliances that can control temperature accurately and do more than one thing. Also, the trend of living in tiny spaces has led to the creation of small, flexible oven models. The oven market will offer more customization possibilities, so people can pick ovens that fit their kitchen style and cooking demands.
Residential Oven Market Analysis
By 2032, the market for small-capacity domestic ovens will be worth more than $20 billion. These small ovens are perfect for people who live in apartments, tiny homes, or other small spaces. They offer the same features as bigger ovens but take up less space. These ovens also usually have current features like digital controls, smart technology integration, and quick preheating, which makes them more useful for business. Changing what customers want to stylish and attractive designs that fit in with the restricted kitchen area without sacrificing quality or utility will, in turn, drive the product's deployment.
The market for electric-fired household ovens will expand by more than 5.5% every year until 2032. People love these ovens because they heat evenly and consistently, which is important for accurate cooking and baking. People are becoming more mindful of the environment, and electric ovens are becoming more popular because they tend to have a smaller carbon footprint than gas ovens. This is changing the corporate world. There are more and more worries about how energy-efficient and environmentally friendly things are, as well as how quickly technology is changing.
By 2032, the market for household ovens in Europe will be worth more than $8 billion. The area will see growth because more people are moving to cities, earnings are going higher, and people's lifestyles are changing. The sector will grow because more people want modern kitchen appliances and more people want energy-efficient and high-tech products. Also, the growth of e-commerce and better distribution networks are making products easier to find, which is good for business.
The U.S. domestic oven market will grow as more people want to cook at home and living standards rise. Also, the rising e-commerce industry is making it easier for people to find a lot of different types of ovens, which is driving up demand for the product even more. The biggest companies in the market are putting money into research and development to stay competitive and meet changing customer needs. This will create big chances for the sector to grow.
Residential Oven Market Share
Bosch Home Appliances is one of the leading global brands renowned for its innovation, quality, and reliability. Specializing in a wide range of home appliances, the company’s ovens are particularly notable for their advanced technology, user-friendly features, and sleek designs. It offers precise cooking controls, energy efficiency, and innovative functionalities such as steam cooking, convection heating, and self-cleaning capabilities. The brand places a strong emphasis on sustainability, ensuring their products are environmentally friendly and energy efficient.
Residential Oven Market Companies
The key industry players include
- Alto-Shaam Inc.
- Beko
- Bosch Home Appliances
- Brandt
- Breville USA
- Croma
- DACOR
- Electrolux AB
- FABER
- GE Appliances
- Guangdong Galanz Enterprises Co., Ltd.
- Haier Inc.
- LG Electronics
- Miele
- Panasonic Life Solutions
- Samsung Electronics
- Sharp Corporation
- Siemens Home Appliances
- Sunflame
- Whirlpool Corporation
Residential Oven Industry News
- In July 2024, LG Electronics has unveiled its latest series of microwave ovens, blending cutting-edge technology with sleek, modern design. The new lineup features the 'Scan to Cook' model and the 'Object' series, catering to a range of consumer needs. With variants available in 28 and 32 liters, LG's focus is clearpromoting healthier and more convenient cooking. This strategic move will enhance the company product portfolio and strengthen its position worldwide.
- In February 2023, Samsung Electronics has unveiled its Series 7 Bespoke AI Oven, featuring AI Pro Cooking technology. This cutting-edge oven not only optimizes settings but also keeps a close eye on your food, allowing for real-time meal tracking through the SmartThings App. Thanks to its Dual Cook Steam feature, users can now prepare multiple dishes at once, transforming the landscape of healthy meal preparation. This release signifies a notable leap in home cooking technology, promising both convenience and culinary innovation.
This residential oven market research report includes in-depth coverage of the industry with estimates & forecast in terms of “000 Units & USD Million” from 2021 to 2032, for the following segments
Market, By Capacity
- Small
- Medium
- Large
Market, By Fuel
- Electric
- Gas
- Dual Fuel
Market, By Application
- Single Family
- Multi Family
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Portugal
- Romania
- Netherlands
- Switzerland
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Latin America
- Brazil
- Argentina
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