Fuel types comprise of electricity, cooking gas, solar energy, fuel wood, biogas, and renewable energy. On the basis of product structure, the industry is bifurcated into built-in and free standing appliances.
Applications are split into commercial and residential. Commercial refrigerators are widely used in supermarkets, convenience stores, restaurants specialty food stores, grocery stores, and cafeterias. Residential segment was valued surpassing USD 100 billion in 2014. It is expected to be the leading sector in the coming years.
Regions encompass North America, Asia Pacific, Europe, and the Rest of the World (RoW). North America is likely to dominate global revenue in the coming years.
Asia Pacific kitchen will witness a considerable growth due to the rise in the middle class population. The ‘Make in India’ program established by the Indian government can further boost the market competitors and growth in the region in the coming years.
Some of the major industrial players are Samsung Electronics, Whirlpool Corporation, Haier Group, LG Electronics, and Morphy Richards Limited. Development strategies include acquisition and product launch. Acquisition helps companies share technological requirements. Electrolux introduced an in-oven Cam prototype, which is an oven with a built-in camera to monitor food.
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