The global gas & electric pressure cooker market size is expected to reach at USD 10.01 billion by 2025 to expand at CAGR of 7.11%. Rise in the number of working population along with the rising demand for quick and easy cooking methods is projected to drive the growth. The market is driven by the use of advanced materials with enhanced safety features of the gas and electric pressure cookers. In addition, the use of special ceramic and non-toxic coating has been driving the product sales.
The pandemic crisis has decreased the frequency of purchase of consumer appliances, the lead time for delivery of orders has also increased significantly. Limited availability of components, restricted labor supply, and other supply chain related costs are some of the major challenges that most industry players are focusing on at present. The end of the lockdown is expected to bring this industry significantly higher consumer traffic, most notably through the online channels, and the manufacturers will need to design their production plans and distribution networks in tandem with this changing business environment.
Gas & Electric Pressure Cooker Market Report Suggest:
• In terms of revenue, aluminum product segment is projected to ascend at a CAGR of 8.07% during the forecast period.
• Residential segment led the global gas and electric pressure cooker market with an overall share of over 72.09% in 2018.
• Stainless steel segment held the largest market share of about 63.59% in 2018. Being a heavy duty material, stainless steel is most commonly used for manufacturing gas and electric pressure cooker.
• Asia Pacific held the leading market share of 37.86%, owing to rising disposable income of the consumers in India, South Korea, China, and Japan.
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Gas & Electric Pressure Cooker Market Segmentation
Grand View Research has segmented the global gas and electric pressure cooker market on the basis of material, application, and region:
Gas and Electric Pressure Cooker Material Outlook (Revenue, USD Billion, 2015 – 2025)
• Stainless Steel
Gas and Electric Pressure Cooker Application Outlook (Revenue, USD Billion, 2015 – 2025)
Gas and Electric Pressure Cooker Regional Outlook (Revenue, USD Billion, 2015 – 2025)
• North America
• Asia Pacific
• Central and South America
• Middle East & Africa
• South Africa
List of Key Players of Gas & Electric Pressure Cooker Market
• GROUPE SE
• Fissler GmbH
• Koninklijke Philips NV
• Panasonic Corporation
• WMF Group
• Zwiling J.A.
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