CLEVELAND, Jan. 8, 2021 /PRNewswire/ — US demand for household cooking appliances is forecast to increase 2.8% yearly in nominal terms through 2024, according to Household Cooking Appliances: United States, a report recently released by Freedonia Focus Reports. Slight upticks in housing completions will boost new demand for appliances. Replacement demand is also expected to advance, spurred by rising sales of existing homes and renovation activity. Furthermore, continued expansion in disposable personal income levels will give consumers the confidence and spending power to replace old appliances. However, market saturation will continue to limit faster growth in demand.
In 2020, purchasing behavior has been affected by the COVID-19 pandemic. The release of pent-up demand following appliance shortages early in the pandemic will drive demand up 3.7% over the year, with demand for microwaves in particular seeing gains of 6.6%.
These and other key insights are featured in Household Cooking Appliances: United States. This report forecasts to 2020 and 2024 US household cooking appliance demand and shipments in nominal US dollars at the manufacturer level. Total demand and shipments are segmented by product in terms of:
- electric cooking appliances
- gas cooking appliances
- microwave ovens
To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2009 to 2019.
Hoods are excluded from the scope of this report, as are small cooking appliances such as toasters, toaster ovens, and rice cookers; used/secondhand appliances; cooking appliances designed for commercial use; portable stoves and cookers; barbecues; outdoor grills; and electric grills and griddles. Re-exports of household cooking appliances are excluded from demand and trade figures.
This report features the results of the Freedonia Focus Reports proprietary national consumer survey, including COVID impact analysis.
More information about the report is available at: https://www.freedoniafocusreports.com/Household-Cooking-Appliances-United-States-FF90026/?progid=91541
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
SOURCE The Freedonia Group