Electric Stoves Market Report 2026

The electric stoves market size has grown strongly in recent years. It will grow from $16.53 billion in 2025 to $17.52 billion in 2026 at a compound annual growth rate (CAGR) of 6%. The growth in the historic period can be attributed to rising industrial automation, growth in automotive production, expansion of hvac systems, increased household appliance adoption, advancements in material science.

The electric stoves market size is expected to see strong growth in the next few years. It will grow to $22.82 billion in 2030 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to shift to electric vehicles, adoption of smart factories, demand for renewable energy integration, growth in robotics and AI applications, focus on energy conservation & efficiency. Major trends in the forecast period include predictive maintenance & smart diagnostics, energy-efficient motor design, lightweight & compact motor solutions, advanced thermal management, high-performance materials for motors.

The growing demand for electric stoves is anticipated to fuel the expansion of the electric stove market. Electric stoves, which use electricity as their primary energy source, have gained popularity due to their consistent and even heating, making them suitable for various cooking methods. According to the Energy Information Administration, approximately 68% of households in the US use electric appliances for cooking. In a US census involving 123 million respondents, over half (65 million) rely on electricity for their ovens and stoves. As a result, the increasing demand for electric stoves is a driving force behind the electric stove market's growth.

Major companies operating in the electric stoves market are focusing on developing innovative products, such as smart electric cooking stoves, to provide versatile, efficient, and stylish cooking solutions for modern kitchens. A smart electric cooking stove is an advanced kitchen appliance that connects to the internet, enabling users to control cooking functions remotely via smartphone apps or voice commands. It also offers features like automatic cooking settings, temperature monitoring, and recipe guidance. For instance, in October 2024, Xiaomi Inc., a China-based electronics and smart manufacturing company, launched the Mijia Electric Ceramic Stove S1. This smart electric stove is designed for modern kitchens, featuring 2200W of firepower, 10-level temperature adjustment, and an internal and external double-ring fire for precise heat control. It combines energy efficiency with versatility, making it suitable for diverse cooking needs while enhancing both convenience and style in the kitchen.

In September 2025, Bajaj Electricals, an India-based consumer electrical equipment manufacturer, acquired the Morphy Richards brand for an undisclosed sum. Through this acquisition, Bajaj Electricals aims to gain full ownership and control of a well-established premium home appliance brand in South Asia, building on its 20-year licensing partnership. Morphy Richards is a UK-based electrical appliance company offering products such as electric stoves, including induction cooktops and radiant cookers.

Major companies operating 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., 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.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have impacted the electric motor market by increasing import costs on key components such as copper, rare earth magnets, and precision machinery. This has led to higher production costs and slowed supply chain efficiency, particularly in regions like asia-pacific and europe where manufacturing hubs are concentrated. Industrial and automotive segments are most affected due to their reliance on imported motors and components. However, tariffs are also encouraging local manufacturing investments and fostering innovation in cost-effective, energy-efficient motor designs, which could benefit long-term market resilience.

The electric stoves market research report is one of a series of new reports that provides electric stoves market statistics, including electric stoves industry global market size, regional shares, competitors with a electric stoves market share, detailed electric stoves market segments, market trends and opportunities, and any further data you may need to thrive in the electric stoves industry. These electric stoves market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

An electric stove is an electrical appliance that converts electricity into heat and serves as an alternative to gas stoves. Electric stoves typically feature a thermostat, spiral or coil-shaped burners placed on the cooktop for cooking, and heat-producing elements for baking.

The main product categories for electric stoves include built-in and free-standing models. Built-in stoves are self-contained appliances that fit snugly between cabinets and appear integrated into the kitchen setup. They typically consist of a cooktop with burners above an oven and may include a base drawer for storage. Electric stoves can be made from various materials, such as metal, stone, ceramic, and others, and they find applications in residential, commercial, and industrial settings for cooking and baking purposes.Asia-Pacific was the largest region in the electric stoves market in 2025. Western Europe was the second-largest region in the electric stoves market. The regions covered in the electric stoves market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric stoves market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The electric stoves market consists of sales of stone stoves, metal stoves, ceramic stoves, and other electric stoves. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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