Market Size –
The electric kettles market size has grown strongly in recent years. It will grow from $4.16 billion in 2023 to $4.38 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to increased consumer lifestyle changes, increased health and safety concerns, increased energy efficiency regulations, design and aesthetics, and environmental awareness.
The electric kettles market size is expected to see strong growth in the next few years. It will grow to $5.5 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to increasing convenience and time-saving, urbanization, shift towards electric appliances, increasing demand for electric appliances. Major trends in the forecast period include product innovations, partnerships, technological advancements and company investments in electric kettles.
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Scope Of Electric Kettles Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Electric Kettles Market Overview
Market Drivers –
A rise in gas prices is expected to propel the growth of the electric kettle market going forward. Gas refers to a substance in a gaseous state, such as natural gas or gasoline, used for various purposes, including heating, cooking, and fueling vehicles. The increase in gas prices is attributed to factors such as changing exchange rates, taxes, and regulations. Consumers seek energy-efficient alternatives for heating water, reducing reliance on gas-powered appliances, and mitigating the impact of escalating fuel costs on household budgets. Electric kettles provide a convenient, efficient, and safe way to boil water, making them an indispensable appliance in modern kitchens and households. For instance, in January 2022, the U.S. Energy Information Administration (EIA), a US-based statistical and analytical agency, reported that the average U.S. retail price for regular-grade gasoline increased to $3.01 per gallon (gal) in 2021. The average retail gasoline price surged by over $1.00 per gallon from the beginning to the end of 2021. Therefore, a rise in gas prices is driving the growth of the electric kettle market.
Market Trends –
Companies operating in the electric kettle market are innovating valuable advanced products such as thermostatic kettles, using app connectivity to provide better product offerings and enhance their portfolio. Thermostatic kettles with app connectivity are innovative kitchen appliances that offer precise temperature control and remote operation via a mobile application. These kettles integrate advanced thermostatic technology, allowing users to accurately set and maintain specific water temperatures. For instance, in November 2022, Xiaomi, a China-based technology company, launched the Xiaomi MIJIA Thermostatic Kettle 2 Pro, customized using the MIJIA app in China. It boasts a 1.7-liter capacity and features a digital LED display. It facilitates rapid 1800W heating and maintains heat for up to 24 hours. Additionally, it comes with a smart light ring, oversized buttons, and an effective noise-reduction coating. The MIJIA app also allows users to set the temperature in advance and adjust the heat preservation time according to their needs.
The electric kettles market covered in this report is segmented –
1) By Type: See Through, Opaque
2) By Raw Material: Stainless Steel, Plastic, Glass, Other Raw Materials
3) By Distribution Channel: Offline, Online Stores, Other Distribution Channels
4) By Application: Residential, Commercial
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Regional Insights –
Asia-Pacific was the largest region in the electric kettles market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric kettles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the electric kettles market are Siemens AG, Whirlpool Corporation, Koninklijke Philips N.V., Stanley Black & Decker Inc., Electrolux AB, Groupe SEB SA, De’Longhi Group, Breville Group, Hamilton Beach Brands Inc., Braun GmbH, Aroma Housewares Company, Chefman LLC, Conair Corporation, Sunbeam Products Inc., Russell Hobbs Inc., Bella Housewares, Proctor Silex Ltd., Gourmia Inc., Morphy Richards Limited, Bodum USA Inc., StoreBound LLC, Brentwood Appliances Inc., Sensio Inc., Sunbeam Corp., Kenwood Limited
Table of Contents
1. Executive Summary
2. Electric Kettles Market Characteristics
3. Electric Kettles Market Trends And Strategies
4. Electric Kettles Market – Macro Economic Scenario
5. Global Electric Kettles Market Size and Growth
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31. Electric Kettles Market Other Major And Innovative Companies
32. Global Electric Kettles Market Competitive Benchmarking
33. Global Electric Kettles Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Electric Kettles Market
35. Electric Kettles Market Future Outlook and Potential Analysis
36.Appendix
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