The Electric Stoves Global Market Report 2023 by The Business Research Company, provides electric stoves market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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https://www.thebusinessresearchcompany.com/report/electric-stoves-global-market-report
In accordance with The Business Research Company’s revelatory Electric Stoves Global Market Report for the year 2023, there is a discernible trajectory of expansion within the electric stove market. The projected growth is marked by a transition from the noteworthy figure of $22.08 billion in 2022 to an anticipated $22.93 billion in 2023, exhibiting a compound annual growth rate (CAGR) of 3.9%. However, it is imperative to contextualize this growth within the pervasive impact of the Russia-Ukraine conflict, which has reverberated beyond geopolitical realms, significantly influencing global economic recuperation post the COVID-19 pandemic, albeit temporarily.
The ongoing conflict has precipitated a cascade of economic ramifications, manifested in the imposition of economic sanctions on numerous nations, an upswing in commodity prices, and notable disruptions in supply chains. Consequently, this has led to a surge in inflation across diverse sectors, impacting the market dynamics of goods and services on a global scale. Foreseeing the future trajectory, the electric stove market is anticipated to burgeon further, with a projected market size reaching $25.31 billion by 2027, characterized by a CAGR of 2.5%.
Growing popularity of energy-efficient cooking appliances is expected to increase the demand for electric stoves. Cooking efficiency of electric stoves is high when compared to gas cooktops as majority of the heat energy through gas cooktops is not transferred while cooking. Electric stoves are designed to consume minimum energy and provide easy temperature control.
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The electric stoves market is segmented:
1) By Product: Built in, Free-Standing
2) By Material: Metal Stove, Stone Stove, Ceramic Stove, Other Materials
3) By Application: Residential Use, Commercial Use, Industrial Use
Notably, manufacturers in the electric stove domain are diligently attuned to the evolving preferences of consumers. A discernible trend is the integration of cutting-edge technological features to enhance the utility and desirability of their products. This strategic emphasis is evidenced by innovations such as automatic temperature regulation, automatic shutdown mechanisms, and user-friendly touchscreen controls. A case in point is the GE JP328SKSS 30 stainless steel electric cooktop, which epitomizes technological sophistication. Distinctive features include removable drip bowls situated beneath the coils for facile cleansing of accumulated spillage and remnants. The graphical interface is intuitively designed, ensuring ease of operation, and augmented by a conspicuous red light indicator that illuminates to signify the cooktop’s active status. This technological convergence exemplifies the industry’s commitment to seamlessly blending functionality with user-centric design in the pursuit of heightened consumer satisfaction.
Top 5 Major Players:
1. Executive Summary
2. Electric Stoves Market Characteristics
3. Electric Stoves Market Trends And Strategies
4. Electric Stoves Market – Macro Economic Scenario
5. Electric Stoves Market Size And Growth
…..
26. Africa Electric Stoves Market
27. Electric Stoves Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Electric Stoves Market
29. Electric Stoves Market Future Outlook and Potential Analysis
30. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global Electric Stoves Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 4: Global Electric Stoves Market, Segmentation By Material, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 5: Global Electric Stoves Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
…
Table 27: Philips Financial Performance
Table 28: Panasonic Financial Performance
Table 29: Haier Group Financial Performance
Table 30: AB Electrolux Financial Performance
Table 31: Bosch Financial Performance
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