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
American manufacturers are stepping up their game, creating some really cool stuff to get our attention, and that's really fueling the electric and induction range market here in the US. Take GE, for example – they've come out with an induction range that's got built-in wi-fi and connects to their SmartHQ app, letting you do guided sous-vide cooking! Plus, it's super easy to use. And get this, it's got Precision air True Convection technology and a soft-close storage door. Frigidaire's also in the mix with an induction range that can whip up tons of crispy appetizers using its Air Fry mode – forget just a handful of fries! It's got three heating elements and a fan for a real convection oven experience. This range is fast and has a safe, 30-minute self-cleaning steam feature that focuses energy right where it's needed on the induction surface.
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. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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