Business

Residential Electric Grill Market Analysis Showcases Growth Trends and Opportunity until 2028

The residential electric grill sales exceeded 3,200 thousand units in 2018, and are forecast to record a volume growth at 7.6% in 2019, according to a new Fact.MR study. The residential electric grill sales have been influenced by a slew of factors, which range from the trend of “going smokeless” for reducing the environmental footprint, to integration of connected technologies such as Bluetooth and Wi-Fi that enable remote monitoring. However, reluctance toward electric grills remains among consumers who hold authenticity of taste obtained from gas grills in greater regard. 

Evolving requirements of consumers have led to introduction of a variety of residential electric grills, among which built-in and portable have been significant variants. The report states that built-in electric grills have been accounting for a larger share of the market, with over 6 in 10 of overall residential electric grills sold worldwide. Built-in electric grills have gained a remarkable popularity as preferred variant among residential buyers, with indoor as well as outdoor compatibility being a value-added offering of manufacturers. Although relatively less significant compared to built-in variants, portable electric grills will witness a steady rise in sales to surpass 800 thousand units in 2019. 

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Leading players in the residential electric grill market will continue to account for approximately half share of the market collectively. This consolidation has placed these players to benefit significantly from controlling supply for larger part of the economy. These players are further entering into merger & acquisition and partnership activities with regional players, so as to expand their cooking products platform by exploiting their innovative technologies. Additionally, investment in R&D continues to remain a key portfolio expansion strategy of the residential electric grill market players. Regional players are expected to account for nearly 20% share in the residential electric grill market, thriving through adoption of key strategies such as product innovation and competitive pricing.

Connected Electric Grills – A Key Trend

The approach of integrating connected technologies into cooking appliances has gained significance from being ephemeral to pervasive in recent years, and electric grills have been no exception to this. Consumer demand for time-effectiveness, along with ease of use and convenience, has directed the focus of manufacturers toward development of innovative grill variants that feature connected technologies such as Wi-Fi and Bluetooth. As the trend of “going smart” continues to influence developmental efforts of the residential electric grill manufacturers, prospects remain promising for growth of the market.

Leading players in the residential electric grill market will continue to account for approximately half share of the market collectively. This consolidation has placed these players to benefit significantly from controlling supply for larger part of the economy. These players are further entering into merger & acquisition and partnership activities with regional players, so as to expand their cooking products platform by exploiting their innovative technologies. Additionally, investment in R&D continues to remain a key portfolio expansion strategy of the residential electric grill marketplayers. Regional players are expected to account for nearly 20% share in the residential electric grill market, thriving through adoption of key strategies such as product innovation and competitive pricing.

The approach of integrating connected technologies into cooking appliances has gained significance from being ephemeral to pervasive in recent years, and electric grills have been no exception to this. Consumer demand for time-effectiveness, along with ease of use and convenience, has directed the focus of manufacturers toward development of innovative grill variants that feature connected technologies such as Wi-Fi and Bluetooth. As the trend of “going smart” continues to influence developmental efforts of the residential electric grill manufacturers, prospects remain promising for growth of the market.

Insights and forecast delivered for the residential electric grill market are backed by a robust and dependable research methodology. Extensive primary interviews and comprehensive secondary researches have been carried out by Fact.MR analysts for developing this report on the residential electric grill market. The intelligence obtained from primary interviews have been used to validate the insights gained from secondary researches.

This report acts as a credible source of intelligence on the residential electric grill market, enabling its readers to make apt business decisions vis-à-vis evolving trends in the residential electric grill market.

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Arun G

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