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Global Electric Stoves Market Report 2024-2033: Type, Distribution Channel, Regions, Company Analysis, Forecast
Electric Stoves Global Market
The Business Research Company's Electric Stoves Global Market Report 2024 identifies The rising demand for electric stoves as the major driver for the Electric Stoves market's growth in the forecast period. An electric stove is a kitchen appliance used for cooking and heating food by utilizing electricity as the energy source. Electric stoves are increasingly adopted as they offer consistent and even heating, making them suitable for a wide range of cooking methods.
The electric stoves market size has grown steadily in recent years. It will grow from $22.98 billion in 2023 to $23.63 billion in 2024 at a compound annual growth rate (CAGR) of 2.8%. The growth in the historic period can be attributed to electrification of homes, urbanization and apartment living, mass production, electrification of rural areas.
The electric stoves market size is expected to see steady growth in the next few years. It will grow to $26.01 billion in 2028 at a compound annual growth rate (CAGR) of 2.4%. The growth in the forecast period can be attributed to energy efficiency and sustainability, smart home integration, health and safety, compact living and urbanization, customization and aesthetics. Major trends in the forecast period include induction cooking, built-in and seamless designs, energy management and efficiency features, voice and app control, sustainable materials.
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Major competitors in the Electric Stoves market are Koninklijke Philips N.V., Panasonic Corporation, Haier Group Corporation, AB Electrolux, Robert Bosch GmbH, Broseley Fires, ESSE Engineering Ltd., Faber S.p.A., Galanz Group, General Electric Company, Whirlpool Corporation, Sunpentown International Inc., LG Electronics Inc., Fisher & Paykel Appliances Ltd.
A key trend in the Electric Stoves market includes Artificial Intelligence (AI). 3D medical imaging device manufacturers are increasingly investing in Artificial Intelligence (AI) to improve the diagnosis by giving accurate, hard-number measurements. AI provides efficiency in medical imaging, particularly when it comes to detecting organs or anomalies. For instance, by combining image visualization and AI, cardiologists can measure ejection fraction with high precision and in a much shorter period. Ejection fraction is a measurement of the percentage of blood leaving the heart each time it contracts.
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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
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Electric Stoves market.
The Business Research Company's "Global Electric Stoves Market Report 2024" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Electric Stoves Market Include:
1. Executive Summary
2. Electric Stoves Market Characteristics
3. Electric Stoves Market Trends And Strategies
4. Electric Stoves Market - Macro Economic Scenario
5. Global Electric Stoves Market Size and Growth
……
31. Global Electric Stoves Market Competitive Benchmarking
32. Global Electric Stoves Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Electric Stoves Market
34. Electric Stoves Market Future Outlook and Potential Analysis
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