Dublin, Sept. 27, 2023 (GLOBE NEWSWIRE) -- The "Global Stoves Market (2023-2028) by Types, Materials, Applications, Distribution Channels, and Geography, Competitive Analysis, Impact of Covid-19, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Stoves Market is set to witness substantial growth, with an estimated value of USD 23.1 billion in 2023, projected to reach USD 28.24 billion by 2028, showcasing a robust CAGR of 4.10%. The market report, published by [Publisher Name], offers an in-depth analysis of this thriving industry, exploring various market segments and emerging trends.
A stove, an indispensable kitchen appliance designed for cooking, comes in different forms, including wood stoves, gas stoves, and electric stoves. Among these, electric stoves are gaining significant traction due to their energy efficiency and precise temperature control, ultimately fueling demand for the Global Stoves Market.
Electric stoves, renowned for their cooking efficiency, outperform gas cooktops, as they minimize heat energy wastage during cooking. Furthermore, they are designed to consume minimal energy while offering convenient temperature adjustments. This efficiency factor is a driving force behind the growth of the Global Stoves Market.
Nevertheless, the availability of alternative cooking methods like microwaves poses a challenge to the market's expansion. Microwaves, powered by electromagnetic waves, offer rapid and energy-efficient heating for small food portions, attracting consumers seeking convenience and energy savings.
In response to evolving consumer preferences, stove manufacturers are incorporating advanced features such as automatic temperature regulation, automatic shutdown, and touchscreen controls. For instance, the GE JP328SKSS stainless steel electric cooktop boasts removable drip bowls for easy cleaning, user-friendly graphics, and a red light indicator signaling its active state. Technological advancements like these present a promising opportunity for the Global Stoves Market.
However, the incompatibility of electric cooktops with certain cooking vessels, like aluminum and copper due to their magnetic and electrical properties, poses a challenge for the industry. These materials require higher frequencies to generate the necessary heat for cooking.
Market Segmentations:
The Global Stoves Market is segmented based on Types, Materials, Applications, Distribution Channels, and Geography.
- By Types, the market is categorized into Gas Stoves, Electric Stoves, and Wood Stoves. Gas stoves, renowned for their precise temperature control and instant heat, continue to dominate the market due to their versatility and widespread usage.
- By Materials, the market includes Metal Stoves, Stone Stoves, Ceramic Stoves, and Others. Metal stoves, especially those made from stainless steel or cast iron, are preferred for their durability, heat retention, and ease of maintenance.
- By Applications, the market serves Residential, Commercial, and Industrial sectors. The commercial sector, comprising hotels, restaurants, and similar establishments, remains a significant driver of industry growth.
- By Distribution Channel, the market is divided into Online and Offline. Offline distribution, offering physical product verification and engagement, leads the market with its wide accessibility.
- By Geography, the market spans the Americas, Europe, Middle-East & Africa, and Asia-Pacific. Asia-Pacific holds the largest market share due to the rising demand for portable cooking equipment, driven by increasing road trips among consumers.
Company Profiles:
The report provides comprehensive company profiles, including financial performance analysis, for prominent players in the market. Notable companies featured include Electrolux AB, Esse, Galanz, Haier Group, Johnson Outdoors Inc., and more.
Countries Studied:
The study covers various countries across the Americas, Europe, Middle-East & Africa, and Asia-Pacific, including [List of Countries].
Competitive Quadrant:
The Competitive Quadrant, a proprietary analysis tool, assesses companies based on their Industry Position score and Market Performance score. It considers factors like financial performance, growth strategies, innovation, market share, and more.
Why Buy This Report:
This comprehensive report offers:
- In-depth qualitative analysis and verifiable data
- Market size analysis in volume and value terms
- Insights based on Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix
- Impact analysis of COVID-19 on the market
- Regulatory scenario in the industry
- Customized research options
- Excel data sheet for market size
- Detailed market dynamics and trends
- Competitive analysis with recommendations for market growth
Companies Mentioned
- BioLite Inc.
- Blue Star Ltd.
- Cascade Designs, Inc.
- Coleman Company, Inc.
- Deermaple
- EdilKamin SpA
- Electrolux AB
- ESSE
- Galanz
- Haier Group
- Johnson Outdoors Inc.
- Katadyn Products Inc.
- Koninklijke Philips N.V
- Line Stoves
- Panasonic Corp.
- Robert Bosch GmbH
- Samsung Electronics Co. Ltd.
- Travis Industries Inc
- Vesta Stoves
- Whirlpool Corp.
For more information about this report visit https://www.researchandmarkets.com/r/4yrhrk
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