Global Electric Kettle Market 2018-2022
About Electric Kettle
An electric kettle is a type of kettle with a self-contained heating unit, which is used to boil water for tea and other beverages. Like conventional kettles, electric kettles include a cover to the spout that features a small hole to allow steam to escape.
Technavio’s analysts forecast the global electric kettle market to grow at a CAGR of 4.32% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global electric kettle market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of electric kettle.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Electric Kettle Market 2018-2022
Technavio recognizes the following companies as the key players in the global electric kettle market: Aroma Housewares, Conair , Groupe SEB (T-fal), Hamilton Beach Brands, Spectrum Brands
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Introduction of smart electric kettles. The increasing adoption of small home and kitchen appliances drives the demand for electric kettles across the globe. In addition, the preference for user-friendly, featured, aesthetical, and smart electric kettles is increasing. This demand is met by the introduction of smart electric kettles. For instance, REDMOND industrial group launched a smart electric kettle named Smart Kettle G200S-E and Smart Kettle 170SE. ”
According to the report, one of the major drivers for this market is Growth of the e-commerce industry and increasing preference for online shopping. The global e-commerce market is expected to grow at a CAGR of more than 19% by 2020 as per Technavio estimates. The key factors contributing to the growth of the ecommerce market stem from its diverse portfolio segments including electronic gadgets, apparels, books, and many others that are regularly updated and help in retaining customer loyalty, thereby leading to an increase in the preference for online purchases.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuation in the prices of raw materials. The price of an appliance depends on the price of the raw materials used. Electric kettles are produced using steel, rubber, iron, and plastic as raw materials. The cost of these raw materials experiences high volatility in the US market and international market, which leads to the high price of the electric kettle. The increase in price may decrease the preference of customers for electric kettles, which can be prevented if manufacturers reduce the prices to maintain the sales of these electric kettles. However, the decrease in the price by manufacturers will hamper their profit margin and their interest.
Groupe SEB (T-fal)
Hamilton Beach Brands