Press release
Competitive Landscape: Leading Companies and New Entrants in the Electric Kettles Market
Electric Kettles Market
Projected Growth and Market Size of the Electric Kettles Industry
The electric kettles market is forecasted to reach a valuation of $5.71 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.5%. This steady expansion is primarily fueled by the rising popularity of smart kitchen appliances, a stronger emphasis on energy-saving home products, the growth of online sales platforms, and the increasing number of commercial food service outlets. Technological improvements in heating elements also contribute. Key trends expected to influence market development include heightened demand for energy-efficient kettles, automatic shut-off and safety mechanisms, stylish transparent designs, enhanced temperature control, smart heating features, and the use of durable, easy-to-clean materials.
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Primary Companies Leading the Electric Kettles Market
Several notable companies dominate the electric kettles landscape, including Siemens AG, Whirlpool Corporation, Koninklijke Philips N.V., Stanley Black & Decker Inc., Electrolux AB, Groupe SEB SA, De'Longhi Group, Breville Group, Hamilton Beach Brands Inc., Braun GmbH, Aroma Housewares Company, Chefman LLC, Conair Corporation, Sunbeam Products Inc., Russell Hobbs Inc., Bella Housewares, Proctor Silex Ltd., Gourmia Inc., Morphy Richards Limited, Bodum USA Inc., StoreBound LLC, Brentwood Appliances Inc., Sensio Inc., Sunbeam Corp., and Kenwood Limited.
Strategic Market Moves Highlighted by Acquisition
In July 2023, UK-based Sutton Venture Group expanded its portfolio by acquiring the Swan Products and Housewares brand for an undisclosed sum. This strategic acquisition aims to leverage SVG's centralized services and global infrastructure to reinforce Swan's market position. Swan Products, headquartered in the UK, manufactures electric kettles along with other kitchenware and cookware items, making this a significant addition to SVG's appliance offerings.
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Emerging Innovations and Features in Electric Kettles
Top industry players are focusing on the integration of new technologies like variable temperature control, which allows users to heat water to specific temperatures rather than just boiling it. This feature adds precision for brewing and cooking, while also promoting energy efficiency. For example, in May 2023, TTK Prestige Ltd., an Indian home appliances manufacturer, launched a Wi-Fi-enabled electric kettle featuring adjustable temperature settings. This product supports remote operation and monitoring through a smartphone app, enhancing convenience and energy management. Such developments in connectivity and temperature regulation are propelling smart electric kettle adoption, improving user experience and lifestyle integration.
Detailed Segmentation Covered in the Electric Kettles Market
The electric kettles market is categorized by type, raw material, distribution channel, and application. The type segment includes See Through and Opaque kettles. Raw materials are divided into Stainless Steel, Plastic, Glass, and other materials. Distribution channels cover Offline, Online Stores, and Other distribution channels. The application segment is split between Residential and Commercial uses. Further subcategories include Glass Electric Kettles and Plastic or Glass Hybrid Electric Kettles under See Through, and Stainless Steel Electric Kettles, Plastic Electric Kettles, and Other Opaque Material Electric Kettles within the Opaque segment.
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