Press release
Global Electric Stoves Market Outlook 2025-2034: Trends, Innovations, And Future Outlook
Electric Stoves Market Size
What Is the Electric Stoves Market Size and Projected Growth Rate?
The electric stoves market has seen significant growth in recent years, projected to expand from $16.1 billion in 2024 to $17.41 billion in 2025 at a CAGR of 8.1%, historically supported by household electrification, urban living patterns, scalable production, and rural electrification.
The electric stoves market is expected to grow strongly, reaching $22.93 billion in 2029 with a CAGR of 7.1%. This growth is supported by the increasing focus on energy efficiency and sustainability, smart home integration, health and safety concerns, urbanization trends, and the demand for customization and aesthetic designs. Key trends include the rise of induction cooking, seamless built-in designs, energy management and efficiency features, voice and app control, and the use of sustainable materials.
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What Are the Major Segments in the Electric Stoves Market?
The electric stoves market covered in this report 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
Subsegments:
1) By Built-In: Electric Cooktops, Electric Ovens
2) By Free-Standing: Electric Range (With Oven And Cooktop), Electric Cooker
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What Are The Driving Electric Stoves Market Evolution?
The growing popularity of energy-efficient cooking appliances is expected to boost demand for electric stoves. Electric stoves are more energy-efficient than gas cooktops, as they transfer more heat directly to the food being cooked. For instance, the U.S. government reported a 56% reduction in energy costs due to the adoption of energy-efficient appliances, leading to lower emissions and increased demand for electric stoves.
Which Firms Dominate The Electric Stoves Market Segments?
Major companies operating in the electric stoves market include 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., Smeg S.p.A., True Induction, Miele & Cie. KG, Waring Products, MENU SYSTEM, Chinducs Corporation, The Vollrath Company LLC, Fusibo Appliance, Summit Appliance Division Felix Storch Inc., Sub-Zero Inc., Andong Electric Co. Ltd., Samsung Electronics Co. Ltd., KitchenAid Inc., Maytag Corporation, Kenmore Appliances, Amana Corporation, Frigidaire International, Hotpoint Appliances, Jenn-Air Corporation, Viking Range LLC, Wolf Appliance Inc., Thermador, Dacor Inc., Bertazzoni S.p.A., Blomberg Appliances, Hisense Group Co. Ltd., Ilve S.p.A., La Cornue, Liebherr Group, Verona Appliances, Zephyr Corporation
What Trends Are Expected to Dominate the Electric Stoves Market in the Next 5 Years?
Companies in the electric stoves market are innovating with smart electric cooking stoves for modern kitchens. In October 2024, Xiaomi Inc., a China-based smart tech manufacturer, launched the Mijia Electric Ceramic Stove S1. With features like 2200W power, 10-level temperature settings, and dual-ring fire design, the stove offers precision, energy efficiency, and smart control for versatile home cooking.
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Which Is The Largest Region In The Electric Stoves Market?
Asia-Pacific was the largest region in the electric stoves market in 2023. Western Europe was the second-largest region in the electric stoves market. The regions covered in the electric stoves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Electric Stoves Market?
2. What is the CAGR expected in the Electric Stoves Market?
3. What Are the Key Innovations Transforming the Electric Stoves Industry?
4. Which Region Is Leading the Electric Stoves Market?
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