Gas Stoves Market: Current Analysis and Forecast (2023-2030)

Report Description

The Gas Stoves Market is expected to grow at a strong CAGR of xx% during the forecast owing to changing lifestyles of the people. A gas stove is a cooking appliance that utilizes natural gas or liquefied petroleum gas (LPG) as a fuel source to generate heat for cooking. It consists of a stovetop with burners or gas hobs and an oven compartment. Gas stoves are commonly used in households, restaurants, and other food service establishments. The changing lifestyle of people, characterized by busier schedules and a need for convenience, has fueled the growth of the gas stoves market. Moreover, government initiatives, regulations, and incentives promoting the use of cleaner fuels and energy-efficient appliances are influencing the gas stove market.

Some of the major players operating in the market include Bakers Pride.; BlueStar; GE Appliances.; LG Electronics.; SAMSUNG; Whirlpool; Frigidaire.; FOTILE America; Electrolux; GARLAND GROUP.

Insights Presented in the Report

“Amongst types, the LPG stove segment captured the majority share of the Gas Stoves market in 2022.”

Based on the type, the gas stoves market is segmented into LPG stoves, coal gas stoves, natural gas stoves, and others. Among these LPG stoves are in high demand in the market as they provide a reliable and accessible fuel source, offer convenience, cost-effectiveness, and are environmentally friendly. Moreover, the various government policies are also fueling this segment.

“Amongst Material, the large manufacturing execution system segment captured the majority share of the Gas Stoves market in 2022.”

Based on the material, the gas stoves market is segmented into stainless steel, cast iron, glass, and others. Among these stainless steel offers several advantages, including durability, resistance to corrosion, and easy maintenance, and therefore holds a considerable share in the market. Its robustness and sleek & modern appearance make it a majority customer choice.  Additionally, stainless steel is non-reactive, meaning it does not interact with food or affect its taste. These qualities make stainless steel a preferred choice for gas stove manufacturers, ensuring longevity, hygiene, and a visually pleasing design for consumers.

Gas Stoves Market Report Coverage

“APAC holds the largest share of the Gas Stoves Market in 2022.”

Asia-Pacific, including China, Japan, India, and Korea, is witnessing substantial growth due to the rising population, urbanization, and increasing disposable income in these countries. The preference for gas cooking, along with the expanding housing and construction sectors, is driving the demand for gas stoves in the region. Factors such as rapid urbanization, rising disposable incomes, and the increasing adoption of modern kitchen appliances are driving the demand for gas stoves. Countries like China, India, and Southeast Asian nations are experiencing a surge in housing construction and remodeling activities, boosting the market for gas stoves. However, the cultural preference for cooking with gas, as well as the availability and affordability of liquefied petroleum gas (LPG), contribute to the market growth. Also, the manufacturers are expanding their presence in the APAC region, introducing innovative and energy-efficient gas stoves to cater to the growing demand in this lucrative market.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global Gas Stoves market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team

Research Methodology

Research Methodology for the Gas Stoves Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Gas Stoves market were the three major steps undertaken to create and analyze the adoption of Gas Stoves in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Gas Stoves market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Gas Stoves market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Gas Stoves market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, material, burner type, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Gas Stoves market. Further, we conducted factor analysis using dependent and independent variables such as component, application, and industry vertical. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Gas Stoves market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Gas Stoves market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Gas Stoves   market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments.
• Key players in the global Gas Stoves market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Gas Stoves market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the component, application, industry, and deployment mode in the global Gas Stoves market.

The main Objective of the Global Gas Stoves Market Study

The current & future market trends of the global Gas Stoves market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Gas Stoves market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of the component, application, industry, and deployment mode.
• Define and analysis of the regulatory framework for the Gas Stoves industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Gas Stoves market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the Gas Stoves market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team