About Electric Hot Plate
The electric hot plate is a tabletop small appliance cooktop that features 1, 2 or additional gas burners or electric heating elements. Electricity is the source of power and the heat produced in the heating element is what cooks the food. A hot plate can be used as a stand-alone appliance however is often used as a substitute for one of the burners from an oven range or a kitchen stove. Hot plates are frequently used for food preparation, generally in locations where a full kitchen stove would not be convenient or practical. A hot plate can have a round surface or flat surface. The electric hot plate is widely used in the home, lab, and other applications.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.87% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Electric Hot Plate market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Aroma-housewares (United States), SKF (United States), Philips (Netherlands), Zhong shan longvcu electric Co., Ltd. (China), weibang Co., Ltd. (China), Fengye Electrical Appliance (China), Andong (China), CHINABEST (China) and Denkyosha Co., Ltd. (Japan) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Electric Hot Plate market by Type (Single Hot Plate, Double Hot Plate and Others), Application (Lab, Household and Others) and Region.
On the basis of geography, the market of Electric Hot Plate has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by By Size, the sub-segment i.e. Square will boost the Electric Hot Plate market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers:
The Rising Disposable Income & Economic Development, The Adoption of Modular Kitchen and Home Appliances and Rapid Urbanization
Challenges:
Availability of Gas Stoves
Restraints:
High Cost
Opportunities:
Emerging Demand from Economies
Market Leaders and their expansionary development strategies
In November 2023, Amazon CEO Andy Jassy, Amazon and Hyundai Motor Company have announced a broad strategic partnership. Our broad, strategic partnership should do just that, from changing the ease with which customers can buy vehicles online to making it simple to use Alexa in Hyundai vehicles for entertainment, shopping, smart home adjustments, and calendar checks to enabling Hyundai to transform their customer experiences and business operations by moving to AWS.
In September 2023, BURN has unveiled its next-generation, tech-enabled electric cooking (e-cooking) product suite. BURN's e-cooking products, the ECOATM Induction Cooker and the ECOATM Electric Pressure Cooker, are Africa's first locally designed and assembled modern e-cooking products. Both products include IOT (Internet-of-Things) sensors, which will enable the company to effectively manage the customer journey from end-to-end, including monitoring for real-time energy consumption. The products are currently rolling out across Kenya and will expand to five more African countries before year-end.
Key Target Audience
Electric Hot plate Manufacturers, Electric Hot plate Distributors, Electric Hot plate Importer/Exporter, Technology investors, Regulatory and Government Bodies and Downstream vendors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.