Electrical And Electronics Manufacturing

Global Electric Stoves Market Size, Drivers, Trends, Opportunities And Strategies – Includes Electric Stoves Market Demand

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032


Growing popularity of energy-efficient cooking appliances are expected to drive innovation in electric stoves manufacturing, thus driving the market during the forecast period.


The global electric stoves market is expected to grow from $22.08 billion in 2022 to $22.93 billion in 2023 at a compound annual growth rate (CAGR) of 3.9%. The global electric stoves market size is expected to grow to $25.31 billion in 2027 at a CAGR of 2.5%.


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Global Electric Stoves Market Segments Include:

  • By Product: Built in, Free-Standing
  • By Material: Metal Stove, Stone Stove, Ceramic Stove, Other Materials
  • By Application: Residential Use, Commercial Use, Industrial Use
  • By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global electric stoves market in 2021.


Major Market Players in the electric stoves market include Philips, Panasonic, Haier Group, AB Electrolux, Bosch, Broseley Fires, Esse, Faber, Galanz, GE, Whirlpool, and Sunpentown.


Manufacturers of electric stoves are focusing on adding new technological features to cater to the 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 the cooktop is provided with a red light indicator that illuminates to indicate the cooktop is active.


The Electric Stoves Global Market Report 2023  provides a electric stoves market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The electric stoves market forecast analyzes electric stoves market size, electric stoves market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.


An electric stove is defined as an electrical device that converts electricity to heat and serves as an alternative to gas stoves. Electric stoves contain a thermostat, spiral or coil-shaped burners placed on top, and heat-producing elements for baking and cooking.


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