About Electric Cookers
Electric cooker, a device for cooking which is powered by electricity. In the current scenario, it is integrated with innovative features, modern technologies and multiple functionalities are witnessing a consistent demand from customer globally. Moreover, the use of electric cookers in developed nations is high comparatively developing economies. However, the growing penetration of electric cookers in the residential sector in emerging nations includes Asia Pacific, South America among others continues. This, in turn, expected to drive the very markets growth in the upcoming years
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market players are exploring the market by adopting product innovation, investments, new service launches and collaborations as their preferred strategies. The factor such as portfolio extension leading to premiumization and the multifunctionality of electric cooker will provide considerable growth opportunities for the market vendors. Analyst at AMA Research estimates that Japanese and Chinese Vendors will contribute the maximum growth to Global Electric Cookers 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.
Koninklijke Philips N.V. (Netherland), Panasonic (Japan), Tiger Corporation (Japan), Toshiba Corporation (Japan), Hitachi, Ltd. (Japan), Bajaj Electricals Ltd. (India), Supor (SEB) (China), Fagor Industrial (Spain), Midea (China), Sinbo (Turkey) and Joyoung (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Galanz (China), TOSOT (Philippines), Zojirushi Corporation (Japan) and Enaiter Electrical Appliances (China).
Segmentation Overview
AMA Research has segmented the market of Global Electric Cookers market by Type (Induction Cookers and Pressure Cookers), Application (Household and Commercial) and Region.
On the basis of geography, the market of Electric Cookers 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 Distribution Channel, the sub-segment i.e. Hypermarket/Supermarket will boost the Electric Cookers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Cooker Capacity, the sub-segment i.e. Less than 3 Liters will boost the Electric Cookers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Product Innovation and Extention in Portfolio by Key Market Players
Market Growth Drivers:
Growing Urbanization Couple with Increasing Disposable Income Globally and Growing Awareness of the Use of Renewable Energy and Favorable Government Policies and Subsidies
Challenges:
Availability of Substitutes
Restraints:
High Cost of Electric Cooker
Opportunities:
Increasingly Introducing New Models with Rubber Seals and Locking Mechanisms for Spill-Free Transportation of Food
Market Leaders and their expansionary development strategies
In September 2022, Panasonic Life Solutions India - a leading diversified technology company has announced 'The Festival of Life' offer for consumers and launched a wide range of consumer appliances.
In September 2023, Africa's leading clean cooking company and carbon project developer, 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 has 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 has expand to five more African countries before year-end.
The Ecodesign and Energy Labelling Regulations (respectively No 66/2014 and No 65/2014, the Regulations) for domestic cooking appliances were published in January 2014 and will be applicable from 2015 onwards. These Regulations establish minimum requirements and an energy labelling scheme for the products in their scope.
Key Target Audience
Manufacturers of Electric Cooker, Suppliers of Electric Cooker, Wholesalers, Distributors and Retailers of Electric Cooker, Research Organization, Government Regulatory Bodies and Others
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.