The United States Electric/Induction Ranges Market size is anticipated to register an impressive CAGR during the forecast period. The electric/induction market comprises sales of electric/induction ranges, which substitutes for gas ranges by converting power to heat. A thermostat, burners with spiral or coil shapes mounted on top, and heat-producing devices for baking and cooking are all features of electric ranges.
Built-in and free-standing electric/induction ranges are the primary products. Built-in ranges are entirely independent. They appear to be a part of the cabinets since they fit in between them so snugly, but they are not. They have ovens with burners above them and ranges with a drawer at the base. Metal stoves, stone stoves, ceramic stoves, and other types are made of various materials and are implemented in residential, commercial, and industrial applications.
The US market for electric/induction ranges is expanding due to the rising number of food and beverage producers and increasing demand for smart kitchen appliances. Electric/Induction ranges with ovens or broilers are frequently used in the food processing sectors to quickly cook vast quantities of food. These elements are driving up demand for the electric/induction ranges in the United States.
The demand for electric/induction ranges is anticipated to increase due to numerous new residential projects. The market has already benefited from the progressive shift away from gas ranges, and more consumers are inclined to install electric/induction in their homes or large-scale residential projects. This is because more people are aware of its advantages over gas ranges. Additionally, frequently utilized in non-residential structures like restaurants and hotels are electric/induction ranges. The change seems modest for commercial applications but is projected to intensify over the projection period.
The market for electric/induction ranges is anticipated to benefit from the growing economy and population in the United States. Additionally, the number of food and beverage producers and food service establishments is growing in the United States, which is opening up a lot of potential for the major players in the electric/induction ranges industry.
Rising Trend of Modular Kitchen Fuels the Market Growth
One of the key factors propelling the growth of the electric/induction ranges market is the rise in trend towards modular kitchens among middle-income groupsacross the country.. The electric/induction ranges are safer than LPG cylinders since they don't have open flames, and rising consumer awareness of safety as they buy more sophisticated cooking appliances in the United States are driving the market's expansion. The rise also influences the demand for induction ranges, which automatically turn off when cookware is present. These ranges are also highly preferred since they are safer and more energy-efficient than conventional ranges.
Innovative Offering Fuels the Market Growth
United States manufacturers are producing innovative products to attract consumers, which drives the electric/induction ranges market in the United States. For instance, GE launched a built-in wi-fi with a SmartHQ app connection that allows for guided sous-vide cooking. This induction range has a user interface that is straightforward to operate. Precision air True Convection technology is present in this induction range. It also has a functional soft-close storage door. Also, Frigidaire launched an induction range that makes large quantities of crispy appetizers for a crowd rather than simply five french fries at a time possible using an Air Fry mode. Three heating components and a fan power an authentic convection oven. This range is quick and offers a 30-minute self-cleaning steam feature that is secure and oriented at an induction surface, which concentrates energy where needed.
Market Segmentation
The United States electric/induction ranges market is segmented into type, end-use, distribution channel, region, and company. Based on type, the market is segmented into freestanding and built in. Based on end-use, the market is segmented into residential and commercial. Based on distribution channel, the market is segmented into supermarkets/hypermarkets, multi-branded retailers, exclusive retailers, contract sales, and online.
Market Players
Electrolux Home Products, Inc., Haier U.S. Appliance Solutions, Inc., Samsung Electronics America, Inc., Whirlpool Corporation, LG Electronics U.S.A. Inc., Felix Storch, Inc. (Summit Appliance), Miele, Inc., SMEG U.S.A. Inc., Prizer-Painter Stove Works, Inc., BSH Home Appliances Corporation
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Type End-Use Distribution Channel |
| Regional scope | South, West, Mid-West, North-East |
| Key companies profiled | Electrolux Home Products, Inc., Haier U.S. Appliance Solutions, Inc., Samsung Electronics America, Inc., Whirlpool Corporation, LG Electronics U.S.A. Inc., Felix Storch, Inc. (Summit Appliance), Miele, Inc., SMEG U.S.A. Inc., Prizer-Painter Stove Works, Inc., BSH Home Appliances Corporation., etc. |
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