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NEW YORK, Aug. 24, 2022 /PRNewswire/ — The latest market analysis report titled Electric Grill Market by Application and Geography – Forecast and Analysis 2022-2026 has been added to Technavio’s catalog. The report predicts the market to witness an accelerating growth momentum at a CAGR of 4.78%. Technavio categorizes the global electric grill market as a part of the global household appliances market within the global household durables market. Our report provides extensive information on the value chain analysis for the electric grill market, which vendors can leverage to gain a competitive advantage during the forecast period. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period. The electric grill market report covers insights on major trends, key growth drivers, and challenges impacting the overall growth of the market.
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This study identifies the rising launch of residential electric grills, rising technological advancement in electric grills, and the growing need for indoor utility and convenience as one of the prime reasons driving the electric grill market growth during the next few years. One of the key factors driving growth in the electric grill market is the rising trend of cookouts on weekends and holidays. Small-sized and portable barbeque grills, such as single-burner grills, are convenient to use and easy to carry for outdoor activities such as camping, road trips , and other outings. Vendors in the market offer specialized electric grills that can be used for outdoor grilling. These include compact and portable electric grills for camping, tailgating, cookouts, and other outdoor activities. The increased use of electric grills for barbeque grilling on weekends and outdoor holiday outings will drive the growth of the global electric grill market. In addition, the rising launch of residential electric grills is a key electric grill market trend that is expected to have a positive impact in the coming years. in November 2021, Kenyon International, Inc., a specialty electric grill manufacturer, launched a new product called the G2 Grill. The product offers a 35% larger cooking surface than other electric grills offered by the company.
However, the presence of substitutes will be a major challenge for the electric grill market during the forecast period. Electric grills have many substitutes, such as gas-fueled grills, charcoal grills, and wood pellet grills. These substitutes are highly differentiated, for instance , there are a wide variety of gas grills such as freestanding gas grills, built-in gas grills, portable gas grills, freestanding charcoal grills, smoker grills, and kamado grills. The vendors for substitute products launch innovative products which increase the threat of substitutes for the global electric grill market. The presence of many substitutes is expected to hinder the growth of the global electric grill market.
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Technavio analyzes the market by Application (Commercial and Residential) and Geography (North America, EuropeAPAC, South Americaand Middle East and Africa).
Revenue-generating Segment Highlights: The electric grill market share growth in the commercial segment will be significant during the forecast period. The rising number of restaurants and hotels in the US, the UK, and India is expected to drive the demand for commercial electric grills during the forecast period.
Regional Opportunities: 35% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for electric grills in North America. Market growth in this region will be faster than the growth of the market in the European and MEA regions. The presence of many established vendors will facilitate the electric grill market growth in North America over the forecast period.
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The electric grill market covers the following areas:
This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
Electric Grill Market Sizing
Electric Grill Market Forecast
Electric Grill Market Analysis
Companies Mentioned
The electric grill market is fragmented and the vendors are deploying growth strategies such as investing in new product development and offering increased warranty periods to compete in the market. The electric grill market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
- Weber Stephen Products HK Ltd.
- The Middleby Corp.
- Breville Group Ltd.
- Conair Corp.
- De Longhi SpA
- Empire Comfort Systems
- Groupe SEB
- Kenyan International Inc.
- Koninklijke Philips NV
- LANDMANN Germany GmbH
- longbank
- Newell Brands Inc.
- RH Peterson Co.
- Robert Bosch GmbH
- ROLLER GRILL INTERNATIONAL SAS
- Spectrum Brands Holdings Inc.
- TTK Prestige Ltd.
- WC Bradley Co.
- Whirlpool Corp.
- Wolf Steel LTD.
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Related Reports:
Barbeque Grill Market Growth, Size, Trends, Analysis Report by Type, Application, Region, and Segment Forecast 2021-2025
Residential Cooking Grills Market Growth, Size, Trends, Analysis Report by Type, Application, Region, and Segment Forecast 2022-2026
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