North America Topped the Global Electric Grill Market Accounting For 30% of Its Total Market Valuation In 2021

The residential electric grill market is anticipated to grow at a healthy CAGR of over 7% over the course of the forecast period, with a market value of over US$ 900 million. The market for electric grills is growing thanks to indoor use without the smoking issues that are typically associated with traditional charcoal grills. With a thriving market for electronic equipment, it is anticipated that demand for residential electric grills will show signs of growth. Leading companies are focusing on integrating new features in electrical grills that enable end-users to quickly and easily cook grilled items in response to the consumer trend for a pleasant, in-home grilling experience.

 

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Report Attributes	Details
Base Year Value (2021A)	USD 2,080 Million
Estimated Year Value (2022E)	USD 2,117 Million
Projected Year Value (2032F)	USD 4,283 Million
Global Growth Rate (2022-2032)	CAGR 7.3%
North America Market Share in 2021	~30%
North America Growth Rate (2022-2032)	CAGR 7.9%
Top 5 Companies Market Share in 2021	~42%

 

Key Findings from the Market Study on Residential Electric Grills

 

·         With a market share of more than 30%, North America is a significant market for residential electric grills globally. The market in the area is expanding as a result of the backyard grilling trend.

·         Americans are spending more money during their holidays inside, where grilling has become a popular activity.

·         In Latin America, the market for residential electric grills is anticipated to grow quickly (by about 6.5%). The region's rising craze for poppers, pizza, and French toast on indoor grills is fueling the demand.

·         The most common application, with a market share of more than 70%, is expected to be the use of residential electric grills for indoor use.

·         Residential electric grills for indoor use are experiencing such growth due to consumers' changing lifestyle habits in developing nations.

 

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Global Electric Grill Market Segments

• By Product Type :
• Built-in Electric Grill
• Portable Electric Grill
• Others (Smokeless, Free Standing, Roll Around)

 

• By Power Rating :
• <1,560 Watts
• <1,800 Watts
• >1,800 Watts

 

• By Cooking Area :
• Under 200 Sq. Inches
• 200-400 Sq. Inches

 

• By End Use :
• Household
• Commercial (Hotels, Restaurants, etc.)

 

• By Region :
• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

 

How is it predicted that North America will experience rapid demand growth while prospects in Latin America are still positive?

 

Due to the existence of robust supply chains for electric grill manufacturers in this region, the North American electric grill market is anticipated to offer its manufacturers the highest absolute dollar opportunity.

 

North America currently holds a market share of more than 30% in the global residential electric grill market, making it the market leader by 2021. In American countries, grilling and barbecuing are no longer just seen as recreational activities; rather, they have become an essential part of the way of life for many people.

 

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Competitive Environment: Leading Electric Grill Companies

 

Due to the existence of numerous domestic and regional competitors, the global electric grill market is highly fragmented and competitive. Key players use a variety of marketing tactics, including mergers and acquisitions, expansions, collaborations, and partnerships.

 

Additionally, the top businesses use new product development as a strategic approach to enhance their market presence among consumers. Modern electric grills have been incorporated as a result of these tactics.

 

Key Companies Profiled

·         Weber-Stephen Products Llc.

·         The Middleby Corp.

·         Char-Broil Llc.

·         Taylor Company

·         Roller Grill International

·         The Holland Grill Company Inc.

·         Dimplex North America Limited

·         DeLonghi SpA

·         RH Peterson Co.

·         Midea Group

* This article was originally published here