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Electric Kettles Market Transformation: Key Market Size Changes in Recent Years
In previous times, the market size of electric kettles has experienced robust expansion. The market is expected to increase from $4.38 billion in 2024 to $4.65 billion in 2025, signifying a compound annual growth rate (CAGR) of 6.1%. Factors contributing to the growth during the historic period consist of changes in consumer lifestyles, heightened health and safety apprehensions, stricter energy efficiency standards, emphasis on design and aesthetics, and heightened awareness of environmental concerns.
The market for electric kettles is projected to experience substantial growth in the coming years. With a compound annual growth rate (CAGR) of 5.7%, it’s predicted to reach $5.81 billion by 2029. The expansion during the forecast period can be attributed to factors such as a rising preference for convenience and time-saving measures, increased urbanization, a tilt towards electric appliances, and amplified demand for such appliances. The forecast period will also witness significant trends such as product innovations, strategic collaborations, advancements in technology, and heavy investments by companies in the electric kettles sector.
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What’s Behind the Consistent Growth of the Electric Kettles Industry?
The anticipated surge in gas prices is predicted to boost the expansion of the electric kettle market. The term “gas” refers to a material in a gaseous state, such as natural gas or gasoline, which is utilized for a variety of tasks including heating, cooking, and powering vehicles. Factors like shifting exchange rates, taxes, and regulations lead to the upscaling of gas prices.
In an attempt to find energy-saving substitutes for heating water, consumers are lessening their dependence on gas-fed appliances, thus lessening the effects of spiraling fuel expenditures on household budgets. Electric kettles present an easy, effective, and safe method to heat water, thus becoming an integral appliance in contemporary kitchens and homes. For example, data from the U.S. Energy Information Administration (EIA) reveal that in 2023, the domestic average cost of midgrade gasoline was approximately 52 cents per gallon more than regular-grade gasoline, while premium-grade gasoline was on average 85 cents more per gallon than the regular-grade. Consequently, the upsurge in gas prices is stimulating the growth of the electric kettle market.
Top Revenue-Generating Segments in the Electric Kettles Market
The electric kettles market covered in this report is segmented –
1) By Type: See Through, Opaque
2) By Raw Material: Stainless Steel, Plastic, Glass, Other Raw Materials
3) By Distribution Channel: Offline, Online Stores, Other Distribution Channels
4) By Application: Residential, Commercial
Subsegments:
1) By See Through: Glass Electric Kettles, Plastic Or Glass Hybrid Electric Kettles
2) By Opaque: Stainless Steel Electric Kettles, Plastic Electric Kettles, Other Opaque Material Electric Kettles
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What Technological Trends Are Set to Revolutionize the Electric Kettles Market?
In an effort to improve their product selection and fortify their product catalog, businesses within the electric kettle market are coming up with innovative, feature-rich products like thermostatic kettles enhanced with app connectivity. These state-of-the-art kitchen tools offer the facility for exact temperature control and operating the device remotely through a mobile app, thanks to the embedded advanced thermostatic technology. This technology allows users to establish and maintain specific water temperatures effectively. An example of this is the launch of the Xiaomi MIJIA Thermostatic Kettle 2 Pro by Xiaomi, a technology company based in China, in November 2022. This kettle is customized through the MIJIA app in China, has a 1.7-liter capacity, and possesses a digital LED display. It supports fast 1800W heating and can retain heat up to 24 hours. It also comes with add-ons like a smart light ring, large-sized buttons, and a coating that substantially reduces noise. The MIJIA app, on the other hand, allows users to fix the temperature beforehand and adjust the heat preservation duration based on their requirements.
How Are Different Regions Contributing to the Electric Kettles Market’s Growth?
Asia-Pacific was the largest region in the electric kettles market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric kettles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which Firms Are Setting the Benchmark in the Global Electric Kettles Market?
Major companies operating in the electric kettles market are Siemens AG, Whirlpool Corporation, Koninklijke Philips N.V., Stanley Black & Decker Inc., Electrolux AB, Groupe SEB SA, De’Longhi Group, Breville Group, Hamilton Beach Brands Inc., Braun GmbH, Aroma Housewares Company, Chefman LLC, Conair Corporation, Sunbeam Products Inc., Russell Hobbs Inc., Bella Housewares, Proctor Silex Ltd., Gourmia Inc., Morphy Richards Limited, Bodum USA Inc., StoreBound LLC, Brentwood Appliances Inc., Sensio Inc., Sunbeam Corp., Kenwood Limited
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