Stove and Hobs Market
Global Stove and Hobs Market Size, Share & Trends Analysis Report by Product Type (Gas Stoves and Hobs, and Induction Stoves and Hobs) by Base Material (Glass, and Stainless Steel), and by Burner (Two, Three, Four, Five, Six) Forecast Period (2022-2028) Update Available - Forecast 2024-2030
The global stove and hobs market is anticipated to grow at a significant 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.
Impact of COVID-19 Pandemic on Global Stove and Hobs Market
The COVID-19 pandemic had impacted most of the industries in the market. The spread of the virus led most governments across the globe to impose a lockdown that strictly restricted the uses of the restaurants, dining outdoor, street food vendors, and others. All this led to a decrease in the demand, and production activities in the Stove and Hobs market. It caused market players a resistance in their regular sales. However, after a while, the stoves and hobs market accelerated the market owing to the high application in the kitchen during the pandemic.
Segmental Outlook
The global stove and hobs market is segmented based on product type, base material, and burner. Based on product type, the market is segmented into gas and induction. By base material, the market is segmented into glass and stainless steel. By burner, the market is segmented into two, three, four, five, and six. The four-burner segment is expected to have a major market share due to the high application of commercial stoves and hobs in the kitchenin food industry. Commercial stores will observe a significant growth rate due to the rising number of store chains such as Walmart, target among others in emerging economies across the globe. In addition, four burner stoves and hobs are ideal for families as they can cook simultaneously.
Global Stove and Hobs Market Share by Product Type, 2021 (%)
The Induction Stove and Hobs Segment Anticipated to Hold the Prominent Share in the Global Stoves and Hobs Market
The induction stove and hobs segment is estimated to dominate the market with a prominent share of during the forecast period. Cooking generates unhealthy air pollutants from heating oil, fat, and other food ingredients, especially at high temperatures. According to the World Health Organization, smoke from energy generated in households by cooking, heating, and lighting is a major contributor to indoor air pollution in the developing world causing 3 to 4 million premature deaths annually and a wide range of illnesses. Switching to induction stoves is more beneficial than gac stoves for health concern citizens, this boosts the demand for induction stoves and hobs in the global stove and hobs market.
Regional Outlooks
The global Stove and Hobs market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). Asia-Pacific market will show the fastest growth rate during the forecast period owing to significant growth foodindustry, rising demand for ready-to-eat food iteams, increase in nuclear families in the region. North America and Europe are also expected to have a significant market due to well-developed industries along with higher adoption of stoves and hobs on residential and commercial level in these regions.
Global Stoves and Hobs Market Growth, by Region 2022-2028
The Asia-Pacific Region Estimated to Grow Fastest in the Global Stove and Hobs Market
The Asia-Pacific region is projected to grow fastest during the forecast period. Owing to the converting the country into energy-efficient and adopting electric appliances to decrease indoor pollutions which hamper the health of the citizen. For instance, in February 2021, according to the Ministry of Power, the Government of India, launched the "Go Electric" Campaign to create awareness among the masses on the benefits of adopting Electric Cooking appliances such as induction cook hobs, electric pressure cooker, and many more. This initiative is intended to encourage consumers to switch over to electric cooking in place of currently used conventional modes and appliances, thereby, reducing the dependency of the country on imported fuel and helping the country to achieve energy transition as well as low carbon economic growth in the future. These technologies being energy efficient, are expected to scale down cooking-related emissions, securing a cleaner and greener future.
Market Players Outlook
The major companies serving the global Stove and Hobs market are BSH Hausgeräte GmbH, Haier Inc., LG Electronics, Panasonic, Whirlpool Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2021, Electrolux introduced a new induction hob, TotalFlex, which has automatic sensing of cookware.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Stove and Hobs market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Stove and Hobs Market
• Recovery Scenario of Global Stove and Hobs Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. BSH Hausgeräte GmbH (Bosch-Siemens Hausgeraete GmbH)
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Haier Inc.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. LG Electronics
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. Elica S.p.A.
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. Whirlpool Corp.
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
4. Market Segmentation
4.1. Global Stove and Hobs Market by Product Type
4.1.1. Gas
4.1.2. Induction
4.2. Global Stove and Hobs Market by Base Material
4.2.1. Glass
4.2.2. Stainless Steel
4.3. Global Stove and Hobs Market by Burner
4.3.1. Two
4.3.2. Three
4.3.3. Four
4.3.4. Five
4.3.5. Six
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. AB Electrolux
6.2. Arcelik A.S. (Beko)
6.3. Bosch-Siemens Hausgeraete GmbH
6.4. Capella Home Appliances
6.5. CATA Appliances Ltd.
6.6. Daewoo Electronics Corp.
6.7. Electron International
6.8. Elica S.p.A.
6.9. Envirofit
6.10. FABER S.p.A.
6.11. Frankie Faber India Ltd.
6.12. Glen Dimplex Group
6.13. Häfele
6.14. IFB Industries Limited
6.15. Midea Group Co., Ltd.
6.16. Miele & Cie. Kg
6.17. Panasonic Corporation
6.18. Samsung Electronics Co. Ltd.
6.19. Sunflame Enterprises Private Ltd.
1. GLOBAL STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
2. GLOBAL GAS STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL INDUCTION STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY BASE MATERIAL, 2021-2028 ($ MILLION)
5. GLOBAL GLASS STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL STAINLESS STEEL STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY BURNER, 2021-2028 ($ MILLION)
8. GLOBAL STOVE AND HOBS WITH TWO BURNER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL STOVE AND HOBS WITH THREE BURNER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL STOVE AND HOBS WITH FOUR BURNER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL STOVE AND HOBS WITH FIVE BURNER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL STOVE AND HOBS WITH SIX BURNER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
14. NORTH AMERICAN STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
15. NORTH AMERICAN STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
16. NORTH AMERICAN STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY BASE MATERIAL, 2021-2028 ($ MILLION)
17. NORTH AMERICAN STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY BURNER, 2021-2028 ($ MILLION)
18. EUROPEAN STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
19. EUROPEAN STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
20. EUROPEAN STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY BASE MATERIAL, 2021-2028 ($ MILLION)
21. EUROPEAN STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY BURNER, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
24. ASIA-PACIFIC STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY BASE MATERIAL, 2021-2028 ($ MILLION)
25. ASIA-PACIFIC STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY BURNER, 2021-2028 ($ MILLION)
26. REST OF THE WORLD STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
27. REST OF THE WORLD STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
28. REST OF THE WORLD STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY BASE MATERIAL, 2021-2028 ($ MILLION)
29. REST OF THE WORLD STOVE AND HOBS MARKET RESEARCH AND ANALYSIS BY BURNER, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL STOVE AND HOBS MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL STOVE AND HOBS MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL STOVE AND HOBS MARKET, 2022-2028 (%)
4. GLOBAL STOVE AND HOBS MARKET SHARE BY PRODUCT TYPE, 2021 VS 2028 (%)
5. GLOBAL GAS STOVE AND HOBS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL INDUCTION STOVE AND HOBS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL STOVE AND HOBS MARKET SHARE BY BASE MATERIAL, 2021 VS 2028 (%)
8. GLOBAL GLASS STOVE AND HOBS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL STAINLESS STEEL STOVE AND HOBS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL STOVE AND HOBS MARKET SHARE BY BURNER, 2021 VS 2028 (%)
11. GLOBAL STOVE AND HOBS WITH TWO BURNER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL STOVE AND HOBS WITHTHREE BURNER SHARE MARKET BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL STOVE AND HOBS WITH FOUR BURNER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. GLOBAL STOVE AND HOBS WITH FIVE BURNER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. GLOBAL STOVE AND HOBS WITH SIX BURNER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16. GLOBAL STOVE AND HOBS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
17. US STOVE AND HOBS MARKET SIZE, 2021-2028 ($ MILLION)
18. CANADA STOVE AND HOBS MARKET SIZE, 2021-2028 ($ MILLION)
19. UK STOVE AND HOBS MARKET SIZE, 2021-2028 ($ MILLION)
20. FRANCE STOVE AND HOBS MARKET SIZE, 2021-2028 ($ MILLION)
21. GERMANY STOVE AND HOBS MARKET SIZE, 2021-2028 ($ MILLION)
22. ITALY STOVE AND HOBS MARKET SIZE, 2021-2028 ($ MILLION)
23. SPAIN STOVE AND HOBS MARKET SIZE, 2021-2028 ($ MILLION)
24. REST OF EUROPE STOVE AND HOBS MARKET SIZE, 2021-2028 ($ MILLION)
25. INDIA STOVE AND HOBS MARKET SIZE, 2021-2028 ($ MILLION)
26. CHINA STOVE AND HOBS MARKET SIZE, 2021-2028 ($ MILLION)
27. JAPAN STOVE AND HOBS MARKET SIZE, 2021-2028 ($ MILLION)
28. SOUTH KOREA STOVE AND HOBS MARKET SIZE, 2021-2028 ($ MILLION)
29. REST OF ASIA-PACIFIC STOVE AND HOBS MARKET SIZE, 2021-2028 ($ MILLION)
30. REST OF THE WORLD STOVE AND HOBS MARKET SIZE, 2021-2028 ($ MILLION)
