LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the kitchen ranges market in Europe provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The kitchen ranges market in Europe is segmented into product types, comprising of freestanding range and slide-in range. In 2016, the freestanding segment dominated the market in terms of revenue primarily owing to the availability of many varieties, technological innovations, and lower prices compared with the highly priced slide-in ranges.
According to Narendra Nandaigari, a lead analyst at Technavio for retail goods and services research, “Consumers are now taking cognizance of the fact that the power consumed by household appliances accounts for around 35% of the total power consumption of a household. This is prompting most consumers to buy energy-efficient appliances. Additionally, an increase in the prices of fuels used for conventional cooking, such as gas and electricity, encourages the adoption of energy-efficient cooking solutions in kitchen ranges.”
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The top three emerging market trends driving the kitchen ranges market in Europe according to Technavio research analysts are:
- Smart homes augmenting the demand for smart kitchen ranges
- Increasing fascination with making gourmet dishes at home
- Growing popularity of induction cooktop ranges
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Smart homes augmenting the demand for smart kitchen ranges
The increase in the standards of living of most European consumers is boosting the demand for connectivity-enabled smart kitchen appliances. Advances in technology and emergence of smart homes are increasing the demand for smart appliances, such as kitchen ranges, which can be connected to the end-user's smartphone and monitored remotely. Improving Internet access levels and easy operability from remote locations via Wi-Fi technology are contributing to the growth of the market.
Over the recent past, many vendors have started to integrate their kitchen appliances with smart home products using automation and voice control for the premium customer segment. For example, Wi-Fi-connected ranges like Samsung NE58K9850WG lets the user control the oven and monitor the cooktop via an app. Additionally, Wi-Fi-enabled GE PHB920SJSS range enables users to give voice commands to control the appliance with Amazon's voice-activated virtual assistant, Alexa.
Increasing fascination with making gourmet dishes at home
An increase in health consciousness coupled with the availability of a wide variety of cooking recipes online or through social media is encouraging consumers to prefer homemade food. This has resulted in a greater demand for time-saving and convenient cooking appliances. Moreover, the higher income levels have also enabled consumers to shift to a product with better features and brand value.
Recognizing this trend, German appliance manufacturer Miele has announced the launch of its first ever range of cooker collection in Europe in September 2017. Available in two widths, the two new ranges are designed to cook gourmet dishes at home. These new appliances feature a full touch screen liquid crystal display as well as a motorized fascia for navigation at the swipe or scroll of a finger. New product launches like these will be a key driver for the kitchen ranges market in Europe.
Growing popularity of induction cooktop ranges
Induction cooktops are rapidly gaining popularity in Europe due to advantages offered by them over gas or radiant electric cooking methods. Induction kitchen ranges are considered the most energy-efficient means of cooking. Induction cooktops use electromagnets to heat cookware, which cuts boil time while being safer and more efficient than conventional gas or electric power sources. Kitchen ranges with induction cooktops cost more in both gas and radiant electric models, but they offer value-added features like performance, safety, and efficiency. Many vendors including Electrolux, Robert Bosch, SMEG, and Miele are investing in R&D to launch induction kitchen ranges with innovative features and designs.
“The preference for a comfortable work environment in the kitchen and improved heat control with induction cooking are driving the market. The economic affluence in developed countries of Europe coupled with the trend of larger homes and growing awareness about environmental protection constitute the key driver of demand for kitchen ranges with induction cooktops in Europe,” says Narendra.
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