U. S. Range Cooker Market Size, Share & Trends Analysis Report By Price Range, By Size (24", 30", Above 30"), By Application (Residential, Commercial), By Distribution Channel (Online, Offline), And Segment Forecasts, 2021 - 2028.
New York, June 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "U.S. Range Cooker Market Size, Share & Trends Analysis Report By Price Range, By Size, By Application, By Distribution Channel And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06096535/?utm_source=GNW
U.S. Range Cooker Market Growth & Trends
The U.S. range cooker market size is anticipated to reach USD 2.66 billion by 2028, registering a CAGR of 7.7% over the forecast period. The deployment of stylish and functional appliances in kitchens with multi-functionality features is an ongoing trend in the residential sector. This, combined with the trend of remodeling homes to build and accommodate modular kitchens, is resulting in fast-paced product adoption in the country.
Consumers’ focus on attracting a higher resale value from remodeling projects has also driven the prominence of range cookers in homes. For instance, minor kitchen remodeling can lead to an average of 81.1% of the reoccupied cost, whereas major kitchen remodeling can lead to a 59.0% return on the cost. Thus, consumers are loosening their purse strings and building high-end kitchens for their homes by installing advanced cooking appliances.
The growing trend of food away from home is resulting in the increasing number of restaurants, hotels, resorts, food stations, and other commercial eateries across the country.Consumers seek quality and tasty food with minimum waiting time, compelling owners of food joints to invest in modern and integrated cooking appliances.
These outlets need high-capacity and efficient kitchen appliances to be able to serve large masses in a short time while also focusing on the quality of the food they serve.Range cookers are ideal for such commercial applications.
Thus, product adoption in restaurants and eateries is projected to grow in the coming years.
U.S. Range Cooker Market Report Highlights
• The rising demand for products designed for specific set-ups and purposes will drive the market in the coming years
• Since these appliances are bigger, they offer more settings, functions, and cooking options
• Many even feature a separate grill so consumers can grill and roast food at the same time
• Above USD 5000 price range dominated the market in 2020 with a revenue share of over 48%
• The 30” size segment is projected to register the fastest CAGR of more than 8% from 2021 to 2028
• The residential application segment is projected to account for the highest revenue share by 2028 registering the fastest CAGR of 7.9% over the forecast period
Read the full report: https://www.reportlinker.com/p06096535/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001