Residential Electric Grill Market Projected to be Resilient During 2019 to 2028

Posted on 2019-05-13 by Mark Hub in Retail // 0 Comments

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FactMR has actively published a new research study titled “Residential Electric Grill Market Projected to be Resilient During 2019 to 2028 | Key Players are Koninklijke Philips, The Middleby Corp., Robert Bosch, etc.” to its broad online database. This assessment works to discourse the major trends, opportunities and drivers motivating the residential electric grill market during the period from 2019-2028. The insights structured for presenting the target market are procured from both primary research and secondary research, and are utilized for validation that is valuable to investors, manufacturers and new entrants. As per research findings, the global residential electric grill market is expected to showcase impressive growth at 8.0% CAGR during the period until 2028.

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Residential Electric Grill Market – Key Insights

The residential electric grill market recorded a volume CAGR of over 7.0% during the period, 2013 to 2018. Residential electric grill have been driven by their benefits over their counterparts, in terms of environmental footprint, ease of use and convenience, and ability to grill meat & vegetables indoor.
In 2018, residential electric grill sales were estimated in excess of 3,200 thousand units, and are expected to register a Y-o-Y growth at 7.6% in 2019. The upward trend of product premiumization, led by manufacturer efforts toward innovative developments that feature integrated connected technologies, continues to complement growth of the residential electric grill market.
North America continues to lead the residential electric grill market, with sales in 2018 estimated in excess of 1000 thousand units. Nearly 30% of the region’s demographic estimated to use a grill or smoker, according to the Hearth, Patio & Barbeque (HBPA).
East Asia is expected to witness a relatively faster growth than other regional markets for residential electric grill. Volume sales of residential electric grill in East Asia are forecast to record a CAGR of 9.0% through 2028.

What are Key Growth Determinants of the Residential Electric Grill Market?

Growing popularity of barbeque as a fast-growing “cuisine” trend, second to healthier eating, continues to underpin residential electric grill sales.
As the confidence in the world economy stabilizes, consumers are willing to spend more on trending food cuisines and relevant products, and electric grills are no exception. It is highly likely that interest of consumers will incline toward ancillary purchases, such as electric grill accessories.
Portability has become a sought-after feature in residential electric grills, with manufacturers focusing on offering enhanced properties such as light-weight and durability. Gains will increase as the all-terrain, compact, and collapsible features facilitate grilling activities on-the-go.

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Key players operating in the residential electric grill market include Koninklijke Philips, The Middleby Corp., Robert Bosch, Kenyon International, Inc., Weber-Stephen Products Llc, Hamilton Beach, Black & Decker Corporation, Char Broil Llc, Masterbuilt Manufacturing LLC, DeLonghi SpA, Roller Grill International, Midea Group, and RH Peterson Co.

The approach of integrating connected technologies into cooking appliances has gained significance from being ephemeral to pervasive in recent years, and electric grills have been no exception to this. Consumer demand for time-effectiveness, along with ease of use and convenience, has directed the focus of manufacturers toward development of innovative grill variants that feature connected technologies such as Wi-Fi and Bluetooth. As the trend of “going smart” continues to influence developmental efforts of the residential electric grill manufacturers, prospects remain promising for growth of the market.

Insights and forecast delivered for the residential electric grill market are backed by a robust and dependable research methodology. Extensive primary interviews and comprehensive secondary researches have been carried out by FactMR analysts for developing this report on the residential electric grill market. The intelligence obtained from primary interviews have been used to validate the insights gained from secondary researches.

This report acts as a credible source of intelligence on the residential electric grill market, enabling its readers to make apt business decisions vis-à-vis evolving trends in the residential electric grill market.

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