The global Stove and Hobs market is anticipated to grow at a considerable CAGR of 7.2% during the forecast period. The major factors driving the stove and hobs market include increasing per capita income, rising spending capacity, westernization, and product innovation by the market players. Supportive government initiatives programms to promote clean cooking and heating in urban areas surging the product demand. Owing to the rising living standards in the developing countries of semi-urban areas. The Efficient, Clean Cooking and Heating (ECCH) Program was the driving force to advance the World Bank’s clean cooking agenda through technical advice and country/regional grants to World Bank’s operational teams. The World Bank’s active lending portfolio in the sector totals more than US$400 million across 21 countries which helps mothers, pregnant women, and young children are disproportionately affected, as they are typically responsible for household cooking and firewood collection. According to the 2020 Tracking Sustainable Development Goal, globally 2.8 billion people do not have access to clean cooking fuels and technologies.
Through ECCH support,technical assistance, assessment studies, analysis, and financing, the investment programs in Bangladesh, China, Egypt, Indonesia, Mongolia, Senegal, and Uganda have already helped about 20 million people gain access to cleaner and more efficient, cooking and heating solutions. For instance, in Bangladesh, ECCH’s direct technical support and coordination on the Green Climate Fund (GCF) application helped mobilize a US$20 million grant from the GCF., Together with an additional US$20 million from IDA, it is one of the largest clean cooking operations in the world to support 4 million households to access improved and modern cooking solutions.
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Market Coverage
- Market number available for – 2022-2030
- Base year- 2022
- Forecast period- 2023-2030
- 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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