The Demand for Residential Electric Grill market is huge, the study analyzes each market player encompassed in the market study as per its market share, production footprint, current launches, agreements, ongoing R&D projects, and market strategies. SWOT analysis has been performed in the market study to investigate the strengths, weaknesses, opportunities and threats of each player.
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The global residential electric grill market is estimated to grow at a CAGR of over 7% during the forecast period (2019-2029) and reach a value pool of over US$ 900 Mn by the end of the forecast period. Residential electric grills are expected to see increased demand in the near future in view of their versatility for indoor use and energy-efficient attributes. That is set to have a huge effect on the future growth of residential electric grill industry.
In the forecast timeframe, millennials will become the largest residential electric grill utilizers globally. However, the millennial population covers a majority of the share in developed regions, such as North America and Europe. Consumers are searching for lightweight alternatives in items of all sorts, and cooking appliances are no exception. Such factors are expected to give impetus to the residential electric grill market over the forecast period (2019-2029)
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North America to Witness High Demand Growth, While Prospects in Latin America Remain Optimistic
Presently, North America is the market leader in the global residential electric grill market, holding a share of more than 30%. Grilling and barbecuing in North America is no longer considered a recreational practice but an integral part of the lifestyle of consumers. Moreover, enthusiasm for spicy food is suggesting a bright future for the grilling & barbecue industry and residential electric grills in general.
According to a consumer survey by HPBA (Hearth, Patio and Barbecue Association), more than one-third of customers in North America are looking to purchase new grills, with residential electric grills accounting for approximately 10% of the overall sales. The residential electric grill market in Latin America is projected to grow rapidly (~6.5 per cent) with the growing popularity of stay-at-home cooking and grilling.
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The Residential Electric Grill market report provides the readers with the below-mentioned insights:
- Key trends, including ecological conservation, patented solutions, and globalization.
- Consumption pattern of each segment of the market in every region.
- Detailed study of the factors (positive and negative) impacting the growth of the global Endobronchial Valves market.
- Critical analysis of R&D activities performed by market players to expand their production footprint across various industries.
- Thorough research of effect of the market across various end use industries.
The Residential Electric Grill market report gets rid of the following queries:
- Which end use has the highest rate of consumption and why?
- Which regions are the market players targeting to gain a competitive edge?
- What is the growth forecast of the global market in region?
- What is the Y-o-Y growth rate of the global market?
- Which segment will have the maximum share of the global market by the end of year?
And so on…..
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