The global electric stoves market was worth $2.3 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 9.45% and reach $3.3 billion by 2023.
“The Electric Stoves Market Research Report” examines the existing as well as sequential performance of the worldwide market. The report also calculates the forthcoming status of Electric Stoves market based on thorough analysis. By providing exploratory techniques such as, qualitative and quantitative analysis the report presents a comprehensive analysis of market progression. Graphical presentation of information through charts, (graphs, diagrams, tables as well as pictures), the report provides a lucid and easy understanding of the market to readers.
The electric stoves market covered in this report is segmented by product into built in, free-standing. The electric stoves market in this report is segmented by material into metal stove, stone stove, ceramic stove and others. The electric stoves market in this report is segmented by application into residential use, commercial use and industrial use. 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. For instance, with the introduction of energy efficient appliances, the US government is spending 56% less on energy requirements thereby reducing emissions.
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Companies Covered (Sales, Price, Revenue, Volume, Gross Margin and Market Share)-
Philips, Panasonic, Haier Group, AB Electrolux, Bosch, Broseley Fires, Esse, Faber, Galanz, GE and Other.
Markets Covered: 1) By Product: Built in; Free-Standing 2) By Material: Metal Stove; Stone Stove; Ceramic Stove; Others 3) By Application: Residential Use; Commercial Use; Industrial Use
Regional Outlook of Electric Stoves Market report includes the following geographic areas such as: United States, Europe, China, Japan, Southeast Asia, India, Central & South America and ROW
Limited compatibility of electric cooktops with cooking vessels is expected to act as a restraint on the market. Electric cooktops are compatible with cooking vessels made of cast iron and steel and are not compatible with those made of aluminum and copper because of their magnetic and electrical properties. Aluminum and copper require much greater frequencies to produce the heat needed to cook food.
Manufacturers of electric stoves are focusing on adding new technological features to cater to changing needs of customers. Some of the features include automatic temperature regulation, automatic shutdown and touchscreen control. For example, the GE JP328SKSS 30 stainless steel electric cooktop has advanced features with removable drip bowls that are attached below the coils for easy cleaning of accumulated spillage and leftovers. The graphics are easy to read and control and cook top is provided with red light indicator that illuminates to indicate cook top is active.
More importantly, the report underscores participant’s financial performance which includes assessment of capital investments, cash flow, Electric Stoves sales volume, pricing structure, cost structure, gross margin, profitability, revenue outcome, and growth rate. The assessments enable market players to determine competitors’ financial strengths and dominance across the globe. Furthermore, the report analyzes business strategies adopted by participants that usually comprise recent business expansions, mergers, acquisitions, ventures, partnerships as well as promotional activities, technology adoption, brand developments, and product launches.
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Influence Of The Electric Stoves Market Report:
-Comprehensive assessment of all opportunities and risk in the market.
-Electric Stoves market recent innovations and major events.
-Detailed study of business strategies for growth of the market-leading players.
-Conclusive study about the growth plot of Electric Stoves market for forthcoming years.
-In-depth understanding of market-particular drivers, constraints and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the market.
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– Free country Level analysis for any 5 countries of your choice.
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Finally, all aspects of the Global Electric Stoves Market are quantitatively as well qualitatively assessed to study the Global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects. The report supplies the international economic competition with the assistance of Porter’s Five Forces Analysis and SWOT Analysis.
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MarketInsightsReports provides syndicated market research on industry verticals including Electric Stoves, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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