DUBLIN--(BUSINESS WIRE)--The "Electric Kettle Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The electric kettle market was valued at US$4,004.356 million in 2019
The primary factor that is driving the market growth of electric kettles includes the rising demand for convenience products across the developed economies of the world such as India and China, among others. Furthermore, the rising concerns regarding the consumption of hot water is also projected to be a key factor that is amplifying the demand for electric kettles, thus bolstering the market growth in the coming years.
Also, the inclination of consumers is towards the use of electric appliances due to growing concerns for the conservation of other sources such as oil and gasoline, among others. Also, the high costs of gasoline is also leading to shifting consumer preferences towards the use of electric appliances in their kitchens such as induction cooktops, electric kettles, and others. In addition, rapid urbanization coupled with the changing lifestyle and growing population is driving the demand for convenience products. This, in turn, is positively influencing the market growth throughout the forecast period.
Moreover, the recent pandemic of the COVID-19 across the globe is projected to boost the demand for electric kettles, especially during the short run. Drinking of hot water is considered beneficial for boosting the immunity system of human beings. Thus the high convenience offered by electric kettles, coupled with a rapid increase in the consumption of hot water during this pandemic, is also a major factor supplementing the demand for electric kettles across both developed and developing economies of the world. This, in turn, is projected to drive the market growth during the period of the next eight to ten months.
Furthermore, the rising participation by key market players in the development and launch of new products coupled with the rising penetration of new players in the market further shows the potential for the market to grow in the near future. For example, recently in January 2020, Instant Brands Inc., a leading Canadian company that sells kitchen appliances, launched their latest product, the Instant Pot Kettle, with the ability for users to designate the desired temperature.
In addition, in May 2020, Xiaomi Corporation announced the launch of its new smart electric kettle in China. Also, in July 2019, Krutan, a leading home appliances manufacturer in India, announced the re-launch of a model of electric kettle in India. The company also collaborated with Amazon to expand its reach to customers through the expansion of distribution channels.
Key Topics Covered:
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Electric Kettle Market Analysis, By Type of Material
5.2. Stainless Steel
6. Electric Kettle Market Analysis, By End-Use
7. Electric Kettle Market Analysis, By Distribution Channel
8. Electric Kettle Market Analysis, By Geography
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. Morphy Richards
10.2. Aroma Housewares Company
10.3. Conair Corporation
10.4. Koninklijke Philips N.V.
10.5. Spectrum Brands Holdings, Inc.
10.6. Chef's Choice by EdgeCraft
10.7. Hamilton Beach Brands Holding Company
10.8. Breville Group Limited
10.9. CG Power and Industrial Solutions Limited
10.10. Bajaj Electricals Ltd
For more information about this report visit https://www.researchandmarkets.com/r/72g0jh