Ken Research has recently announced latest publication, “Global Electric Cooker Industry Situation And Prospects Research Report 2017” which aims at providing in-depth market analysis, information and insights into the global electric cooker industry. It describes global electric cooker industry’s growth prospects by segment and category and outlines a comprehensive overview of the global and local demographics. It further provides the detailed competitive setting, distribution channels and regulatory policies in the Global Electric Cooker Industry.
Economic Overview
Global electric cooker industry is the sector which deals with the manufacturing, designing and production of the cooker utensils that works on electricity. In 2016, the world economy expanded by just 2.2 per cent, the slowest rate of growth since the Great Recession of 2009. Underpinning the sluggish global economy are the feeble pace of global investment, dwindling world trade growth, flagging productivity growth and high levels of debt. World gross product is forecast to expand by 2.7 percent in 2017 and 2.9 percent in 2018, with this modest recovery more an indication of economic stabilization than a signal of a robust and sustained revival of global demand. Given the close linkages between demand, investment, trade and productivity, the extended episode of weak global growth may prove self-perpetuating in the Electric Cookerence of concerted policy efforts to revive investment and foster a recovery in productivity. This would impede progress towards the Sustainable Development Goals (SDGs), particularly the goals of eradicating extreme poverty and creating decent work for all.
Industrial Overview
The household induction cookers market size was valued at USD 9,160 million in 2015 and is projected to reach USD 13,538 million by 2022, growing at a CAGR of 5.8% from 2016 to 2022. The main reasons for such growth are the cost efficiency of electric cookers and user friendliness. The increased number of features and versatility of electric cookers such as timer and heat adjustment variation knob are some of the features that are demanded by the population. Thus due to the hassle free nature and time saving benefit of the electric cookers the demand is seeing a steep growth. The other reasons for such a growth can be the travelling and hostel trend in which it becomes a necessity to have a electric cooker to cook food without fire. Thus due to the portability and time saving feature with various modes the electric cooker is set to grow in coming years. Therefore the other factor such as the awareness level of people for the electric appliances also plays a crucial role in the prospective growth.The main challenge that this sector will be facing is to serve the demand of the consumer by making portable electric cookers which will serve them without fire and wire. Thus this market would be needing high voltage batteries so that even without any electric connections and fire food can be made. There is strong indication towards solar electric cooker which comes in a very practical shape.
Key Players
The key players in the global electric cooker industry are Philips, Panasonic, Tiger, TOSHIBA, HITACHI, Joyoung, Midea, SUPOR, CUCKOO, POVOS, TOSOT, ZOJIRUSHI, Royalstar, Enaiter, CUCHEN, TONZE, ASD.
Conclusion
Therefore the growth in global electric cooker is due to the heightened awareness of electric cookers benefit such as time saving and versatile modes. The main challenge is the companies need to improvise the product further so as to transform into more portable and practical appliances.
Key topics covered in report
Global Electric Cooker Industry
Electric Kettle Industry Research
Global Solar Electric Cooker Industry Market Research
Global Electric Cooker Industry Future Forecast
Global Electric Cooker Industry Market Trends
Electric Cooker Consumption Worldwide
Global Electric Cooker Industry Manufacturers
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Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204
