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Global Electric Cooker Market – Industry Trends and Forecast to 2030

  • FMCG
  • Upcoming Report
  • Jul 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Electric Cooker Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR - 6.2% Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 3361.98 Million
Diagram Market Size (Forecast Year) USD 5545.68 Million
Diagram CAGR 6.2%

Global Electric Cooker Market, Product Type (Standard, Multifunctional, Induction, Others), Distribution Channel (Online, Offline), End User (Commercial, Household) - Industry Trends and Forecast to 2030.

 Electric Cooker Market

Electric Cooker Market Analysis and Size  

Polyester fiber plays a crucial role in the production of specific types of car tire reinforcements. Moreover, polyester fiber is used to make fabrics that are used in conveyor belts and safety belt manufacturing due to its strong and lightweight properties.

Data Bridge Market Research analyses that the global electric cooker market which was USD 3,361.98 million in 2022, would rocket up to USD 5,545.68 million by 2030, and is expected to undergo a CAGR of 6.2% during the forecast period of 2023 to 2030. “Standard” dominates the type segment of the global electric cooker market part owing to its increasing demand and cost-effectiveness. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, pipeline analysis, pricing analysis, and regulatory framework.

Electric Cooker Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, Volumes in Tons, Pricing in USD

Segments Covered

Product Type (Standard, Multifunctional, Induction, Others), Distribution Channel (Online, Offline), End User (Commercial, Household)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Newell Brands (U.S.), Spectrum Brands Inc. (U.S.), Panasonic (Japan), ELECTROLUX (Sweden), Koninklijke Philips N.V. (Netherlands), Nine Yang (China), S.K. Gupta & Company (Hyderbad), Triangle Inc. (U.S.), Toshiba India Pvt. Ltd. (India), Haier Inc. (Chin), TCL (China), Rongshida (China), Konka Group (China), Glanz Toshiba (Tokyo) , Royalstar (India), Mitsubishi Electric Corporation (Tokyo), Sanyo (Japan), LG Electronics (South Korea)

Market Opportunities

  • The various innovative features, such as heat adjustment variation knobs and the timer is, a key factors driving the growth of the target market.
  • The increased demand for electric cookers from consumers across the world due to factors such as rapid urbanization and rising disposable income

Market Definition

Electric rice cookers are electrical cooking appliances with a heating element that helps prepare rice. They are made from aluminum or steel, which helps regulate the temperature required for cooking. They offer several advantages, such as cooking the rice automatically as well as keeping it warm. As a result, they find extensive applications in residential and commercial sectors across the globe.

Global Electric Cooker Market Dynamics

Drivers

  • Rising Demand for Energy Efficiency and Versatile Cooking Option

One of the key factors anticipated to propel the market over the coming few years is the growing significance of energy-saving appliances like induction heat electric rice cooker and multifunction electric rice cooker by reducing the time required to do household chores and multi-function programmed for cooking such as different types of rice cook, steaming features, making soups among others.

  • Increasing numbers of working women and their busy lifestyle

Increasing numbers of working women and their busy lifestyle of both the family members (wife & husband) with their office work and they have less time to do the daily household work. So, these appliances help save time for themselves and as well as increase efficiency in their workforce.

Opportunities

  • Product innovation and portfolio extension

Moreover, the growing importance of different energy-saving appliances counting electric cookers and induction cooktops, for dropping household expenses, as well as the rising focus of manufacturers on making technologically advanced and multifunctional electric cookers, are boosting various lucrative opportunities for the electric cooker market in the above mentioned forecast period.

Restraints/Challenges

  • Stringent regulations and harmful effects

There are some factors that are hampering the growth of the market, such as stringent regulations and harmful effects associated with polyester.

Recent Development

  • In October 2021, Midea’s landmark automatic rice cooker was launched at Canton Fair. It is fully automatic and used for smart cooking. The built-in infrared sensor technology automatically detects the rice quantity and controls the water quantity autonomously.
  • The first IoT-enabled smart rice cooker in India was just unveiled by TTK Prestige. This appliance can be remotely managed and controlled from the user’s phone using the Prestige Smart App, making it ideal for anyone leading a busy lifestyle.

Global Electric Cooker Market Scope

The electric cooker market is segmented on the basis of type, source, grade, form, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Standard,
  • Multifunctional,
  • Induction,
  • Others

Distribution Channel

  • Online
  • Offline

End User

  • Commercial,
  • Household

Global Electric Cooker Market Regional Analysis/Insights

The electric cooker market is analysed and market size insights and trends are provided by country, technology and application as referenced above.

The countries covered in the electric cooker market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.

Asia-Pacific dominates the electric cooker market in terms of market share and revenue and will continue to flourish its dominance during the forecast period. This is due to the rising urbanization, insistent product promotion strategies of companies, along with the increasing disposable income of the consumers in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Electric Cooker Market Share Analysis

The electric cooker market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the electric cooker market.

Some of the major players operating in the global electric cooker market are:

  • Newell Brands (U.S.)
  • Spectrum Brands Inc. (U.S.)
  • Panasonic (Japan)
  • ELECTROLUX (Sweden)
  • Koninklijke Philips N.V. (Netherlands)
  • Nine Yang (China)
  • S.K. Gupta & Company (Hyderbad)
  • Triangle Inc. (U.S.)
  • Toshiba India Pvt. Ltd. (India)
  • Haier Inc. (Chin)
  • TCL (China)
  • Rongshida (China)
  • Konka Group (China)
  • Glanz Toshiba (Tokyo)
  • Royalstar (India)
  • Mitsubishi Electric Corporation (Tokyo)
  • Sanyo (Japan)
  • LG Electronics (South Korea)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Electric Cooker Market is known to be worth USD 5,545.68 million by 2030.
The Electric Cooker Market growth rate is 9.05% by 2030.
Type, source, grade, form, and application are the factors on which the Electric Cooker Market research is based.
Midea’s landmark automatic rice cooker was launched at Canton Fair & the first IoT-enabled smart rice cooker in India was just unveiled by TTK Prestige are the latest developments in the Electric Cooker Market.
Rising Demand for Energy Efficiency and Versatile Cooking Options, Increasing numbers of working women and their busy lifestyle & Product innovation, and portfolio extension are the growth drivers of the Electric Cooker Market.
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