Dublin, Nov. 06, 2020 (GLOBE NEWSWIRE) -- The "Electric Grills Market By Product Type, By Application - Growth, Future Prospects & Competitive Analysis, 2020 - 2028" report has been added to ResearchAndMarkets.com's offering.
The electric grills market worldwide is expected to grow with a CAGR of 7.1% during the forecast period from 2020 to 2028, starting from US$ 555.3Mn in 2019. An 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, high growth is expected in the electric grills market during the forecast period.
Electric Smokers to Continue as the Market Leader
The electric smokers segment holds the highest market share in the electric grills industry with more than 60% of the market revenue, as of 2019. With the growing penetration of electric grills in restaurants and hotels, the 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.
Asia Pacific to Emerge as the Market Leader
In 2019, by revenue, North America was the leader in the electric grills market followed by Europe with more than 30% of market share. 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.
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 research report presents the analysis of each segment from 2018 to 2028 considering 2019 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2020 to 2028.
Key questions answered in this report
What was the market size of electric grills in 2018 and 2019 along with forecast up to 2028?
Which is the largest regional market by revenue for electric grills?
What are the major trends followed in overall electric grills across different regions?
What are the key market trends and high-growth opportunities observed in the electric grills market?
What are the drivers of the electric grills market?
Who are the key electric grills companies leading the market?
What are the key strategies adopted by the leading electric grills companies in the market?
Key Topics Covered:
2. Executive Summary
2.1. Market Snapshot: Global Electric Grills Market
2.2. Global Electric Grills Market, by Product Type, 2019 (US$ Bn)
2.3. Global Electric Grills Market, by Application, 2019 (US$ Bn)
2.4. Global Electric Grills Market, by Geography, 2019 (US$ Bn)
3. Market Dynamics
3.2. Market Dynamics
3.3. Attractive Investment Proposition, by Geography, 2019
3.4. Market Positioning of Key Players, 2019
4. Global Electric Grills (EG) Market, by Product Type,2018-2028 (US$ Bn)
5. Global Electric Grills (EG) Market, by Application, 2018-2028 (US$ Bn)
6. North America Electric Grills (EG) Market Analysis, 2018-2028 (US$ Bn)
7. Europe Electric Grills (EG) Market Analysis, 2018-2028 (US$ Bn)
8. Asia Pacific Electric Grills (EG) Market Analysis, 2018-2028 (US$ Bn)
9. Rest of the World Electric Grills (EG) Market Analysis, 2018-2028 (US$ Bn)
10. Company Profiles
10.1. The Weber-Stephen Products LLC
10.2. Middleby Corporation
10.3. Taylor Company Inc.
10.4. Roller Grill International SA
10.5. Dimplex North America Limited
10.7. Coleman Company, Inc.
10.8. Midea Group
10.9. Char-Broil Llc
10.11. Koninklijke Philips N.V.
For more information about this report visit https://www.researchandmarkets.com/r/vhmguu
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900