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US cooking appliances market maintaining flat growth rates

Press Release   •   Feb 21, 2013 15:01 GMT

The US cooking appliances market maintained flat volume growth in 2012, with sales of 10 million units. Current value sales, however, increased by 4% to US$7.3 billion.

The cooking appliances market is segmented into three major categories, namely - cook-tops, ovens, and specialised cooking appliances.

The trend for modular kitchen plays a significant role in driving the demand. Microwave ovens have become an indispensable part of new households. A major population trend which has opened up a new segment to cater to is the growing population of singles.

Also, rise in consumer awareness has resulted in consumers becoming more rationale towards product features than their price.

GE was the leading brand in the United States large cooking appliances market in 2012, holding a 21% volume share. Broan from Broan-NuTone was second with 17%, whilst the Sears private label brand Kenmore held a 14% share.

Cooker hoods mainly bolsters Broan-NuTone‟s share, as it held a 71% share of built-in cooker hoods, and a 30% share in freestanding cooker hoods in 2012.

Ovens experienced a slight volume decline in 2012 as sales are closely aligned to the housing market, only mild gains in remodelling and new housing starts pushed many consumers to hold off on purchasing built-in appliances, including ovens, which saw a 1% drop in sales to reach 617,000 units.

Large cooking appliances is expected to show a strong rebound over the coming years, with volume sales growing at a compound annual growth rate (CAGR) of 3% through to 2017.

As the economy is expected to pick up speed, the number of new dwellings and employment are expected to rise, helping large cooking appliances to gain positive momentum.

For more information on the US cooking appliances market, see the latest research: US Cooking Appliances Market

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