PUBLISHER: Acute Market Reports | PRODUCT CODE: 1170475
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1170475
The electric grills market worldwide is expected to grow with a CAGR of 7.1% during the forecast period from 2022 to 2030, starting from US$ 634.1 Mn in 2021. Electric grills have some unique benefits such as indoor use, smoke-free, and others that are unmatched by any other cooking grill. Inclination towards healthy grilled food, changing lifestyles, and preference for homemade grilled food are the major growth drivers for the electric grills market. Rapid technological advancement is also gaining traction as now Bluetooth and Wi-Fi enabled electric grills are there in the market. In addition, the ongoing COVID-19 crisis has resulted in lockdown restrictions and people have been spending more time at home. Thereby, there has been a rising trend in home cooking since a lot of people have been avoiding visiting local restaurants and diners. As a result of these factors, we are expecting high growth in the electric grills market during the forecast period.
The electric smoker's segment holds the highest market share in the electric grills industry with more than 60% of the market revenue, as of 2021. With the growing penetration of electric grills in restaurants, hotels, and residents electric smokers segment is the leader. Electric smokers are available in a smaller form or a refrigerator style to cook plenty of food at the same time. Nowadays, people are more concerned about their health and grilled food is often considered healthy, which in turn increasing the demand for electric smokers worldwide. As a result of these factors, we are expecting the electric smoker's segment to be the market leader during the forecast period.
In 2021, by revenue, North America is the leader in the electric grills market followed by Europe with more than 30% of market share. North America has the largest share owing to grilling became an integral part of consumers' lifestyle. The Asia Pacific will be the fastest-growing region due to inclination towards healthy food and an increase in per capita income. Rising preference for homemade grilled food in countries such as Japan, China, and India are the major growth factors in the region. As a result of these factors, we are expecting a steady growth in the region throughout the forecast period.
Major players are focusing on strategies such as innovation-led product launch to increase their market presence. For instance, in 2017, Koninklijke Philips N.V. launched a smoke-less indoor grill with up to 80% less smoke and with advanced infrared technology. Brand enhancement and mergers & acquisitions are expected to remain a key strategy in years to come. Some of the prominent players operating in the electric grills market include The Weber-Stephen Products LLC, Middleby Corporation, Taylor Company Inc., Roller Grill International SA, Dimplex North America Limited, DeLonghi SpA, Coleman Company, Inc., Midea Group, Char-Broil Llc, Zojirushi, Koninklijke Philips N.V. and others.
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Electric Grills market are as follows:
Micro and macro environment factors that are currently influencing the Electric Grills market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Product
Electric Smokers
Electric Griddles
Application
Residential
Commercial
Region Segment (2020-2030; US$ Million)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Global Impact of COVID-19 Segment (2020-2021; US$ Million )
Pre COVID-19 situation
Post COVID-19 situation