The global Stove and Hobs market is anticipated to grow at a considerable CAGR of 7.2% during the forecast period. The Bangladesh Rural Electrification and Renewable Energy Development II (RERED II) Project collaborated with a local development finance institution and tapped into a network of local non-governmental organisations to manufacture and distribute 1.7 million improved cookStove, resulting in a 3 million metric tonne CO2 equivalent reduction in greenhouse gas emissions. As of September 2020, IDA financing of more than $100 million has been identified (either approved or in the queue) for projects to be co-financed with the Clean Cooking Fund.One of the key factors that are fueling the market is the growing competitiveness between the market players. With several key players in the market, companies are advancing, innovating, and launching new products to stay in the competition. For instance:
The COVID-19 pandemic had impacted most of the industries in the market. The spread of the virus led most governments across the globe to impose a lockdown that strictly restricted the uses of the restaurants, dining outdoor, street food vendors, and others. All this led to a decrease in the demand, and production activities in the Stove and Hobs market. It caused market players a resistance in their regular sales. However, after a while, the stoves and hobs market accelerated the market owing to the high application in the kitchen during the pandemic.
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Market Coverage
- Market number available for – 2021-2029
- Base year- 2021
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Stove and Hobs Market Report Segment
By Product Type
- Gas
- Induction
By Base Material
- Glass
- Stainless Steel
By Burner
- Two
- Three
- Four
- Five
- Six
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Stove and Hobs Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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