Stove and Hobs Market Will Generate Record Revenue by 2029

The global Stove and Hobs market is anticipated to grow at a considerable CAGR of 7.2% during the forecast period. The major factors driving the stove and hobs market include increasing per capita income, rising spending capacity, westernization, and product innovation by the market players. Supportive government initiatives programms to promote clean cooking and heating in urban areas surging the product demand.  Owing to the rising living standards in the developing countries of semi-urban areas. The Efficient, Clean Cooking and Heating (ECCH) Program was the driving force to advance the World Bank's clean cooking agenda through technical advice and country/regional grants to World Bank's operational teams. The World Bank's active lending portfolio in the sector totals more than US$400 million across 21 countries which helps mothers, pregnant women, and young children are disproportionately affected, as they are typically responsible for household cooking and firewood collection. According to the 2020 Tracking Sustainable Development Goal, globally 2.8 billion people do not have access to clean cooking fuels and technologies.

Through ECCH support,technical assistance, assessment studies, analysis, and financing, the investment programs in Bangladesh, China, Egypt, Indonesia, Mongolia, Senegal, and Uganda have already helped about 20 million people gain access to cleaner and more efficient, cooking and heating solutions. For instance, in Bangladesh, ECCH's direct technical support and coordination on the Green Climate Fund (GCF) application helped mobilize a US$20 million grant from the GCF., Together with an additional US$20 million from IDA, it is one of the largest clean cooking operations in the world to support 4 million households to access improved and modern cooking solutions.

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Market Coverage

Market number available for - 2022-2030
Base year- 2022
Forecast period- 2023-2030
Segment Covered- By Source, By Product Type, By Applications
Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others

Stove and Hobs Market Report Segment

By Product Type

Gas
Induction

By Base Material

Glass
Stainless Steel

By Burner

Two
Three
Four
Five
Six

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Stove and Hobs Market Report Segment by Region

North America

US
Canada

Europe

UK
Germany
Italy
Spain
France
Rest of Europe

Asia-Pacific

China
India
Japan
South Korea
Rest of Asia-Pacific

Rest of the World

Latin America
Middle East & Africa

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