The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Sept. 12, 2023 /PRNewswire/ -- As per The Business Research Company's Outdoor Kitchen Appliances Global Market Report 2023, the global outdoor kitchen appliances market is experiencing a significant growth trajectory, with expectations to reach $6.38 billion in 2023, reflecting an impressive Compound Annual Growth Rate (CAGR) of 6.9%. This thriving market is poised for further expansion, with the market size anticipated to soar to $8.13 billion by 2027, maintaining a robust CAGR of 6.2%. Several compelling factors are contributing to this surge, including the rising number of hotels and restaurants, the surging popularity of outdoor living spaces, a growing global population, and rapid urbanization trends.
The Smart Revolution
A transformative trend within the outdoor kitchen appliances market is the integration of smart and connected technology. Companies in the outdoor kitchen appliances market are increasingly focusing on developing appliances that are compatible with IoT (Internet of Things), Wi-Fi, and other technologies. These innovations empower users to control and monitor their outdoor kitchen appliances remotely via smartphones or voice commands, revolutionizing outdoor cooking. For instance, Nexgrill, a US-based outdoor kitchen appliance company, introduced the NeevoTM smart grills in October 2022. These grills, equipped with NEX-fi technology, enable users to control them through smartphones or voice commands. The state-of-the-art LED control panel ensures precise cooking temperatures for extended periods.
Learn More On The Outdoor Kitchen Appliances Market Report – https://www.thebusinessresearchcompany.com/report/outdoor-kitchen-appliances-global-market-report
Market Segmentation
The global outdoor kitchen appliances market is segmented based on several key factors:
- Product: Segments include Cooking Fixtures, Islands and Storage Units, Refrigeration Units, Rangehood, Sinks and Faucets, and Other Products.
- Distribution Channel: Options encompass Offline and Online.
- Application: Divided into Residential and Commercial.
Opportunities in the Cooking Fixtures Segment
The outdoor kitchen appliances market's most promising opportunities are expected to emerge within the cooking fixtures segment, projected to achieve an impressive $948.51 million in global annual sales by 2027.
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Regional Dynamics
North America emerged as the largest region in the outdoor kitchen appliances market in 2022, accounting for 35.7% of the total market share. It was followed by the Asia-Pacific region and others. Moving forward, the fastest-growing regions in the outdoor kitchen appliances market are expected to be Asia-Pacific and North America.
The global outdoor kitchen appliances market is on an exciting trajectory, marked by robust growth and innovative strategies. Market-trend-based strategies have led to the integration of smart and connected technology, the development of compact and portable appliances, the launch of premium products, and the formation of strategic partnerships and collaborations among market players. These strategies are driving the outdoor kitchen appliances market towards greater convenience, efficiency, and versatility. Additionally, players in the market are focused on expanding their global presence through strategic collaborations and continuously enhancing their offerings through new product launches. As the outdoor kitchen appliances market continues to evolve, it promises an even more vibrant and dynamic landscape, catering to the evolving needs and preferences of consumers worldwide.
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