Kettle Controls Market to Record USD 66.73 Million Growth from 2023 to 2028, Market Size, Share, and Forecast Through 2028 - Technavio
NEW YORK, Jan. 24, 2024 /PRNewswire/ -- The kettle controls market is estimated to grow by USD 66.73 million from 2023 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 6.55% with a year-over-year (YOY) growth rate of 6.11% during the forecast period. However, the growth momentum will progress.
Technavio has segmented the market based on Type (Less regulated and Regulated), Application (Corded kettle and Cordless kettle), and Geography (APAC, Europe, North America, South America, and Middle East and Africa).
- The less regulated segment is estimated to witness significant growth during the forecast period. The less-regulated market is expected to experience significant growth due to increasing demand for cost-effective products in developing and underdeveloped countries. These are, being price-competitive and less regulated, often lack safety standards. Additionally, the Middle Eastern region growth and rising tea demand in EMEA are further driving the demand for kettle controls in regions with limited regulations, likely leading to rapid expansion.
Based on geography, the global market is segmented into APAC, Europe, North America, South America, and Middle East, and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global kettle controls market.
- APAC is estimated to contribute 48% to the growth by 2028. The region is fueled by increased local vendor presence in developing nations like China, Vietnam, and South Korea. Southeast Asia shows high growth potential due to its significant tea consumption. Major tea producers like China, India, and Sri Lanka drive demand for various teas. Less stringent regulations in electrical goods production encourage local vendors to enter the market with electric kettles and controls.
Increasing use of kettles for commercial applications is a key factor driving growth. Kettles in commercial settings are versatile and used for preparing a wide range of dishes like soups, sauces, pasta, gravies, desserts, stews, meats, and rice. Their design allows for even heating from all sides with a larger heated surface area than stockpots. They offer precise temperature control, from simmering to boiling, ensuring uniform cooking without hot spots.
- High market traction in the MEA is a major trend.
- Increasing health concerns due to the poor quality of electric kettles is a significant challenge restricting growth
What are the key data covered in this report?
- CAGR during the forecast period
- Detailed information on factors that will drive the growth between 2024 and 2028
- Precise estimation of the size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the Kettle Controls industry across APAC, Europe, North America, South America, and the Middle East and Africa
- A thorough analysis of the competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of Kettle Controls vendors
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Advantages and Innovations in Kettle Controls
Kettle controls, such as thermostat controls and temperature sensors, offer benefits like wireless connectivity and smart capabilities, with LED indicators and automatic shut-off for safety. Boil-dry protection and energy efficiency enhance usability, along with variable temperature control and IoT integration. Touchscreen interfaces and safety locks are common features, while overheat protection ensures durability. Market demand and consumer preferences drive innovation, impacting power ratings and water level indicators. Keep warm functions, stainless steel elements, and glass kettle trends reflect evolving consumer needs. Noise reduction and cordless designs enhance user experience, with fast boil features and regulatory compliance shaping the market. Heat-resistant handles, 360-degree swivel bases, and water filtration systems contribute to brand competitiveness, while eco-friendly materials and supply chain dynamics influence sustainability.
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Sizes
Five Forces Analysis
Segmentation by Application
Segmentation by Type
Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential and assess their competitive positions within changing scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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