The Global Stoves Market is estimated to be USD 23.38 Bn in 2023 and is expected to reach USD 28.6 Bn by 2028 growing at a CAGR of 4.11%.Demand for Decorative and Stylish Wood Heating Stoves
A stove is a cooking appliance designed to cook food. There are different types of stoves, including wood stoves, gas stoves, and electric stoves. An electric stove is an electrical device that converts electricity to heat. Electric stoves contain a thermostat, spiral or coil-shaped burners placed on top, and heat-producing elements for baking & cooking. Additionally, Wood heating stoves are known to be home appliances specially designed to heat homes. In contrast, Gas Stoves use natural gas or propane to create heat. It is often used to cook food but also for heating purposes.
The growing popularity of energy-efficient cooking appliances is boosting the demand for electric stoves. Electric stoves' cooking efficiency is higher when compared to gas cooktops, as most of the heat energy through gas cooktops is not transferred while cooking. Moreover, the electric stoves are designed to consume minimum energy and provide easy temperature control. Thus, it is a driving factor for the Global Stoves Market.
However, the availability of alternative cooking methods, such as microwaves, is a restraint for the growth of the Global Stoves Market. The Microwaves use electromagnetic waves to heat food rapidly and are more energy-efficient for cooking or reheating small food portions. Some consumers prefer these alternative cooking methods for convenience and energy efficiency.
The stove manufacturers are focusing on adding new technological features to cater to customers' changing needs. Some features include automatic temperature regulation, automatic shutdown, and touchscreen control. For example, the GE JP328SKSS 30 stainless steel electric cooktop has advanced features with removable drip bowls attached below the coils to clean accumulated spillage and leftovers easily. The graphics are easy to read and control, and the cooktop is provided with a red light indicator that illuminates to indicate the cooktop is active. Therefore, technological advancement has an opportunity for the Global Stoves Market.
- The incompatibility of electric cooktops with cooking vessels is expected to be a Global Stoves Market challenge. The Electric cooktops are compatible with cast iron and steel cooking vessels. Still, they are not compatible with those made of aluminum and copper because of their magnetic and electrical properties. Aluminum and copper require much greater frequencies to produce the heat needed to cook food.
- Market Segmentations
- The Global Stoves Market is segmented based on Types, Materials, Applications, Distribution Channels, and Geography.
- By Types, the Global Stoves Market is classified into Gas Stoves, Electric Stoves, and Wood Stoves. Gas stoves have traditionally been used in households and commercial establishments for cooking. It offers several advantages, such as precise temperature control, instant heat, and the familiarity of using a flame for cooking. Many professional chefs and cooking enthusiasts also prefer gas stoves due to their versatility and ability to provide high heat output. Despite the growing popularity of electric stoves and induction cooktops, gas stoves dominate the Global Stoves Market due to their widespread usage and consumer preference.
- By Materials, the Global Stoves Market is classified into Metal Stoves, Stone Stoves, Ceramic Stoves, and Others. Metal stoves, especially those made from stainless steel or cast iron, are widely used and preferred by consumers due to their durability, heat retention properties, and ease of maintenance. Metal stoves can withstand high temperatures and are known for their long lifespan. The Global Stoves Market share for metal stoves is expected to increase due to their functional advantages.
- By Applications, the Global Stoves Market is classified into Residential, Commercial, and Industrial. The growing commercial sector, which includes hotels, restaurants, and other similar eateries, is expected to remain a key driver for industry growth. The commercial sector has significant growth in the Global Stoves Market.
- By Distribution Channel, the Global Stoves Market is classified into Online and Offline. Offline distribution channel led the Global Stove Market with the largest market share. The consumer physically verifies the product in the store and understands its utility. Many hypermarkets and convenience stores provide camping stoves of different brands. Furthermore, many camping service providers are available in this market who build a partnership with these stores so that they make frequent purchases at attractive discounts.
- By Geography, the market is classified into the Americas, Europe, Middle-East & Africa, and Asia-Pacific. Asia Pacific dominated the Global Stoves Market regarding revenue with a share. The region has a rising demand for portable cooking equipment due to consumers' increasing number of road trips, which will drive the regional product demand over the forecast period.
Recent Development
- TTK Prestige launched the Svachh Neo Gas Stove with liftable burners. - March 2023
- BB Energy announces the launch of the 200,000 Improved Cookstoves initiative in Rwanda. - November 2023
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Electrolux AB, Esse, Galanz, Haier Group, Johnson Outdoors Inc., etc.Countries Studied
- America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
- Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxemburg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
- Middle-East and Africa (Egypt, Israel, Nigeria, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
- Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
Competitive Quadrant
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.Ansoff Analysis
- The report presents a detailed Ansoff matrix analysis for the Global Stoves Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
- The publisher analyses the Global Stoves Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
- Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Stoves Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
- Excel data sheet for the market size will also be provided with the report.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
- The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
- The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.
Report Highlights:
- A complete analysis of the market, including the parent industry
- Important market dynamics and trends
- Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
- Market segmentation
- Competitive Analysis: Comparative analysis of competitor
- Historical, current, and projected size of the market based on value and volume
- Market size of the US states
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Table of Contents
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Dynamics
5 Market Analysis
6 Global Stoves Market, By Types
7 Global Stoves Market, By Materials
8 Global Stoves Market, By Applications
9 Global Stoves Market, By Distribution Channel
10 Americas' Stoves Market
11 Europe's Stoves Market
12 Middle East and Africa's Stoves Market
13 APAC's Stoves Market
14 Competitive Landscape
15 Company Profiles
16 Appendix
Companies Mentioned
- BioLite Inc.
- Blue Star Ltd.
- Cascade Designs, Inc.
- Coleman Company, Inc.
- Deermaple
- EdilKamin SpA
- Electrolux AB
- ESSE
- Galanz
- Haier Group
- Johnson Outdoors Inc.
- Katadyn Products Inc.
- Koninklijke Philips N.V
- Line Stoves
- Panasonic Corp.
- Robert Bosch GmbH
- Samsung Electronics Co. Ltd.
- Travis Industries Inc
- Vesta Stoves
- Whirlpool Corp.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 207 |
| Published | February 2024 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 23.38 Billion |
| Forecasted Market Value ( USD | $ 28.6 Billion |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 20 |
