Electric Cooktops Market to Record Overwhelming Hike in
Revenues by 2026
Electric Cooktops Market research provides industry analysis by
type, manufacturer, application along with key factors influencing
the growth of the market which include growth drivers, restraints,
opportunities and challenges, strategically profile key players and
comprehensively
analyze
their
market
share
and
core
competencies.
Electric cooktops is a cooking equipment used in commercial and non-commercial settings.
Electric cooktops are more energy-efficient as compared to other traditional cooking appliances
and provide enhanced safety features such automatically shutting off in the absence of a cooking
vessel on the cooktops. Moreover, the material used to build electric cooktops majorly include
glass
or
ceramic,
which
are
strong,
durable,
and
easy
to
clean.
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Rising demand for energy-efficient cooktops is one of the major factors driving growth of the
market
Increasing demand for energy-efficient appliances is one of the key factors driving growth of the
market. Rising prices of natural gas is driving demand for electric cooktops. For instance,
according to the EIA (Energy Information Administration) analysis, in the U.S. the price of natural
gas was US$ 3.55/MBTU (Million British Thermal Units) in 2017, which was higher than US$
2.51/MBTU in 2016. This in turn is expected to proportionally hike prices of domestic cooking gas.
Additionally, around 60% of cooking heat is lost while using natural gas to heat the stovetop,
whereas only 30% heat is lost while heating electric cooktops. Thus, electric cooktops are more
energy-efficient than conventional ones, further fuelling growth of the market.