New York, March 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Electric Stoves Global Market Report 2022" - https://www.reportlinker.com/p06247484/?utm_source=GNW
40 billion in 2021 to $21.04 billion in 2022 at a compound annual growth rate (CAGR) of 3.1%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $21.70 billion in 2026 at a CAGR of 0.8%.
The electric stove market includes sales of electric stoves that convert electricity to heat and serve as an alternative for gas stoves. Electric stoves contain a thermostat, spiral or coil shaped burners placed on top and heat-producing elements for baking and cooking.
The main products of electric stoves are built-in and free-standing.Built-in stoves are completely self-contained.
They fit tightly between cabinets and appear to be a part of the cabinets, but they are not.They have a cooktop with burners above an oven, as well as a drawer at the base.
The different materials used are metal stoves, stone stoves, ceramic stoves and others that are used for residential use, commercial use and industrial use.
Asia Pacific was the largest region in the electric stoves market in 2021.Western Europe was the second-largest region in the electric stoves market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Growing popularity of energy-efficient cooking appliances is expected to increase the demand for electric stoves.Cooking efficiency of electric stoves is high when compared to gas cooktops as majority of the heat energy through gas cooktops is not transferred while cooking.
Electric stoves are designed to consume minimum energy and provide easy temperature control. For instance, with the introduction of energy efficient appliances, the US government is spending 56% less on energy requirements thereby reducing emissions.
Limited compatibility of electric cooktops with cooking vessels is expected to act as a restraint on the market.Electric cooktops are compatible with cooking vessels made of cast iron and steel and 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.
Manufacturers of electric stoves are focusing on adding new technological features to cater to changing needs of customers.Some of the 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 that are attached below the coils for easy cleaning of accumulated spillage and leftovers. The graphics are easy to read and control and cook top is provided with red light indicator that illuminates to indicate cook top is active.
The countries covered in the electric stoves market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06247484/?utm_source=GNW
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