Electric Kettle Market by Raw Material, Application

List of Tables

The Electric Kettle Market was valued at USD 4.96 billion in 2023, expected to reach USD 5.38 billion in 2024, and is projected to grow at a CAGR of 8.28%, to USD 8.66 billion by 2030.

The electric kettle market is defined by kitchen appliances designed for quickly and efficiently boiling water, typically using an electric heating element. The necessity of electric kettles lies in their convenience, energy efficiency, and speed, which greatly surpass traditional stovetop methods, making them indispensable in modern kitchens. Their primary application is boiling water for beverages like tea and coffee, along with uses in food preparation, such as instant noodles and baby formula. The market's end-use scope spans household consumers to commercial settings like cafes, offices, and hotels.

KEY MARKET STATISTICS
Base Year [2023]	USD 4.96 billion
Estimated Year [2024]	USD 5.38 billion
Forecast Year [2030]	USD 8.66 billion
CAGR (%)	8.28%

Market growth is primarily driven by increasing consumer demand for energy-efficient appliances, rising living standards, and the growing popularity of tea and coffee drinking. Another influencing factor is technological advancement, with features like temperature control and smart connectivity appealing to tech-savvy consumers. Geographically, growth is notable in urban areas and developing regions with rising electric infrastructure. Potential opportunities include expanding product lines to feature sustainable and eco-friendly materials, tapping into the IoT for connected appliances, and targeting emerging markets with growing disposable incomes. Companies should focus on customization and differentiated branding to capture niche markets.

However, market limitations include saturation in developed regions and intense competition, leading to downward pressure on prices. Additionally, the rise of alternative hot beverage preparation appliances and health concerns over plastics used in kettles can challenge market growth. The longevity and reliability of products also mean fewer repeat purchases, posing another challenge. Key areas for innovation include developing energy-efficient designs and exploring recyclable materials or alternative heat sources. The nature of the market is increasingly competitive but offers substantial growth potential for companies that can innovate and adapt to consumer preferences. Engaging in continuous research and leveraging consumer insights will be crucial for maintaining a competitive edge and driving business growth in this dynamic market.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Electric Kettle Market

The Electric Kettle Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Growing working population and purchasing power
- Rising awareness about energy conservation among individuals
- Increasing popularity of modern consumer durables and high-end electronic devices
Market Restraints
- Volatility in the prices of raw materials
Market Opportunities
- Emerging trend of smart homes
- Introduction of innovative electric kettles
Market Challenges
- Lack of availability and awareness in remote areas

Porter's Five Forces: A Strategic Tool for Navigating the Electric Kettle Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Electric Kettle Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Electric Kettle Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Electric Kettle Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Electric Kettle Market

A detailed market share analysis in the Electric Kettle Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Electric Kettle Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Electric Kettle Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Electric Kettle Market

A strategic analysis of the Electric Kettle Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Electric Kettle Market, highlighting leading vendors and their innovative profiles. These include Aroma Housewares Company, Bonavitaworld, Boss India, Breville Pty Ltd., Chef's Choice, Comforts India, Conair Corporation, Cuisinart Corporation, Electrolux AB, Groupe SEB, Hamilton Beach Brands, Inc., KENT RO Systems Ltd., Koninklijke Philips N.V., Lords Wear Private Limited, Morphy Richards Ltd., Skyline Home Appliances, TTK Prestige Ltd., U Like Center, Zhejiang Supor Co., Ltd., and Zojirushi America Corporation.

Market Segmentation & Coverage

This research report categorizes the Electric Kettle Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Raw Material, market is studied across Glass, Plastic, and Stainless Steel.
Based on Application, market is studied across Commercial and Residential.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-742BD517DFC9

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing working population and purchasing power
  - 5.1.1.2. Rising awareness about energy conservation among individuals
  - 5.1.1.3. Increasing popularity of modern consumer durables and high-end electronic devices
- 5.1.2. Restraints
  - 5.1.2.1. Volatility in the prices of raw materials
- 5.1.3. Opportunities
  - 5.1.3.1. Emerging trend of smart homes
  - 5.1.3.2. Introduction of innovative electric kettles
- 5.1.4. Challenges
  - 5.1.4.1. Lack of availability and awareness in remote areas
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Electric Kettle Market, by Raw Material

6.1. Introduction
6.2. Glass
6.3. Plastic
6.4. Stainless Steel

7. Electric Kettle Market, by Application

7.1. Introduction
7.2. Commercial
7.3. Residential

8. Americas Electric Kettle Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Electric Kettle Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Electric Kettle Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. Market Share Analysis, 2023
11.2. FPNV Positioning Matrix, 2023
11.3. Competitive Scenario Analysis
11.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Aroma Housewares Company
2. Bonavitaworld
3. Boss India
4. Breville Pty Ltd.
5. Chef's Choice
6. Comforts India
7. Conair Corporation
8. Cuisinart Corporation
9. Electrolux AB
10. Groupe SEB
11. Hamilton Beach Brands, Inc.
12. KENT RO Systems Ltd.
13. Koninklijke Philips N.V.
14. Lords Wear Private Limited
15. Morphy Richards Ltd.
16. Skyline Home Appliances
17. TTK Prestige Ltd.
18. U Like Center
19. Zhejiang Supor Co., Ltd.
20. Zojirushi America Corporation