NEW YORK, Oct. 28, 2022 /PRNewswire/ — The kettle controls market is growing at a CAGR of 7.51% and is expected to register an incremental growth of 113.44 million units from 2021 to 2026. The report has analyzed the market size, growth, and provides accurate predictions on the growth of the market.
Key Highlights
- The report recognizes the following as the key players in the kettle controls market: Lee Industries, Legion Industries Inc., Otter Controls Ltd., and Strix Group Plc among others.
- The global kettle controls market structure is concentrated in nature.
- APAC is expected to have a significant share in the kettle controls market.
- Market to observe 6.81% YOY growth in 2022.
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Market Dynamics
The kettle controls market is expected to witness substantial growth during the forecast period, primarily due to the rise in the consumption of tea across the world due to its health benefits. Tea has strong antioxidant properties because of its flavonoid components such as theaflavins, bisflavanols, and theaflavic acids. These are all potent antioxidant in vitro compounds. When consumed, they will act as free radical scavengers, which remove endogenously generated superoxide, peroxyl, and hydroxyl radicals. Such health benefits have increased the consumption of tea worldwide. The busy lifestyles of most people in both developed and developing countries have increased use of electric kettles to prepare tea. All these factors are increasing the demand for electric kettles. This, in turn, is driving the growth of the market in focus.
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Vendor Landscape
The kettle controls market is concentrated with the presence of a few vendors offering similar products. The competition in this market is expected to intensify further with an increase in product extensions and the market expansion strategies of vendors. Vendors with better technical and financial resources can develop products, which can make competitors’ products obsolete and non-competitive even before they are launched or recover the R&D and commercialization costs. Therefore, to remain competitive in the market, vendors not only have to develop newer technologies but also should keep abreast of the emerging technologies that could affect their product lines. In addition, the improving economic conditions in the country are spurring the growth of the market, making it attractive for the launch of new products.
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Key Segments
The kettle controls market is segmented by type into less regulated and regulated kettle controls. The less regulated segment is expected to be the largest segment of the global kettle controls market during the forecast period. The segment is driven by the increasing demand for cost-effective products in developing and underdeveloped countries.
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Regional Growth Analysis
The global kettle controls market is analyzed across five regions, namely APAC, Europe, North America, South America, and the Middle East and Africa. APAC is the dominating region and is expected to account for 57% of the global market share over the forecast period. Countries such as China, India, and Sri Lanka are major producers of tea, which is leading to the high consumption of different varieties of tea in these countries. As a result, the need for temperature-controlled kettles is growing in this region, which is increasing the demand for kettle controls. In addition, the regional market is driven by an increase in the penetration rate of local vendors in developing countries such as China, Vietnam, and South Korea.
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Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the kettle controls market report:
Regional Analysis
Market Player Information
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Table Of Contents:
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Kettle Controls Market Scope |
|
|
Report Coverage |
Details |
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Page number |
120 |
|
Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.51% |
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Market growth 2022-2026 |
113.44 million units |
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Market structure |
Concentrated |
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YoY growth (%) |
6.81 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 57% |
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Key consumer countries |
US, Canada, China, India, and Japan |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Lee Industries, Legion Industries Inc., Otter Controls Ltd., and Strix Group Plc |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global – Market size and forecast 2021-2026 (million units)
- Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 (million units)
- Exhibit 15: Chart on Global Market- Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market- Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition – Five forces 2021 and 2026
5 Market Segmentation by Type
- 5.1 Market segments
- Exhibit 24: Chart on Type – Market share 2021-2026 (%)
- Exhibit 25: Data Table on Type – Market share 2021-2026 (%)
- 5.2 Comparison by Type
- Exhibit 26: Chart on Comparison by Type
- Exhibit 27: Data Table on Comparison by Type
- 5.3 Less regulated – Market size and forecast 2021-2026
- Exhibit 28: Chart on Less regulated – Market size and forecast 2021-2026 (million units)
- Exhibit 29: Data Table on Less regulated – Market size and forecast 2021-2026 (million units)
- Exhibit 30: Chart on Less regulated – Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Less regulated – Year-over-year growth 2021-2026 (%)
- 5.4 Regulated – Market size and forecast 2021-2026
- Exhibit 32: Chart on Regulated – Market size and forecast 2021-2026 (million units)
- Exhibit 33: Data Table on Regulated – Market size and forecast 2021-2026 (million units)
- Exhibit 34: Chart on Regulated – Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Regulated – Year-over-year growth 2021-2026 (%)
- 5.5 Market opportunity by Type
- Exhibit 36: Market opportunity by Type (million units)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 38: Chart on Market share by geography 2021-2026 (%)
- Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 40: Chart on Geographic comparison
- Exhibit 41: Data Table on Geographic comparison
- 7.3 APAC – Market size and forecast 2021-2026
- Exhibit 42: Chart on APAC – Market size and forecast 2021-2026 (million units)
- Exhibit 43: Data Table on APAC – Market size and forecast 2021-2026 (million units)
- Exhibit 44: Chart on APAC – Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on APAC – Year-over-year growth 2021-2026 (%)
- 7.4 Europe – Market size and forecast 2021-2026
- Exhibit 46: Chart on Europe – Market size and forecast 2021-2026 (million units)
- Exhibit 47: Data Table on Europe – Market size and forecast 2021-2026 (million units)
- Exhibit 48: Chart on Europe – Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on Europe – Year-over-year growth 2021-2026 (%)
- 7.5 North America – Market size and forecast 2021-2026
- Exhibit 50: Chart on North America – Market size and forecast 2021-2026 (million units)
- Exhibit 51: Data Table on North America – Market size and forecast 2021-2026 (million units)
- Exhibit 52: Chart on North America – Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on North America – Year-over-year growth 2021-2026 (%)
- 7.6 South America – Market size and forecast 2021-2026
- Exhibit 54: Chart on South America – Market size and forecast 2021-2026 (million units)
- Exhibit 55: Data Table on South America – Market size and forecast 2021-2026 (million units)
- Exhibit 56: Chart on South America – Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on South America – Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa – Market size and forecast 2021-2026
- Exhibit 58: Chart on Middle East and Africa – Market size and forecast 2021-2026 (million units)
- Exhibit 59: Data Table on Middle East and Africa – Market size and forecast 2021-2026 (million units)
- Exhibit 60: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- 7.8 China – Market size and forecast 2021-2026
- Exhibit 62: Chart on China – Market size and forecast 2021-2026 (million units)
- Exhibit 63: Data Table on China – Market size and forecast 2021-2026 (million units)
- Exhibit 64: Chart on China – Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on China – Year-over-year growth 2021-2026 (%)
- 7.9 US – Market size and forecast 2021-2026
- Exhibit 66: Chart on US – Market size and forecast 2021-2026 (million units)
- Exhibit 67: Data Table on US – Market size and forecast 2021-2026 (million units)
- Exhibit 68: Chart on US – Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on US – Year-over-year growth 2021-2026 (%)
- 7.10 India – Market size and forecast 2021-2026
- Exhibit 70: Chart on India – Market size and forecast 2021-2026 (million units)
- Exhibit 71: Data Table on India – Market size and forecast 2021-2026 (million units)
- Exhibit 72: Chart on India – Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on India – Year-over-year growth 2021-2026 (%)
- 7.11 Japan – Market size and forecast 2021-2026
- Exhibit 74: Chart on Japan – Market size and forecast 2021-2026 (million units)
- Exhibit 75: Data Table on Japan – Market size and forecast 2021-2026 (million units)
- Exhibit 76: Chart on Japan – Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Japan – Year-over-year growth 2021-2026 (%)
- 7.12 Canada – Market size and forecast 2021-2026
- Exhibit 78: Chart on Canada – Market size and forecast 2021-2026 (million units)
- Exhibit 79: Data Table on Canada – Market size and forecast 2021-2026 (million units)
- Exhibit 80: Chart on Canada – Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Canada – Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 82: Market opportunity by geography (million units)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 83: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 85: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 86: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 87: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 88: Matrix on vendor position and classification
- 10.3 Lee Industries
- Exhibit 89: Lee Industries – Overview
- Exhibit 90: Lee Industries – Product / Service
- Exhibit 91: Lee Industries – Key offerings
- 10.4 Legion Industries Inc.
- Exhibit 92: Legion Industries Inc. – Overview
- Exhibit 93: Legion Industries Inc. – Product / Service
- Exhibit 94: Legion Industries Inc. – Key offerings
- 10.5 Otter Controls Ltd.
- Exhibit 95: Otter Controls Ltd. – Overview
- Exhibit 96: Otter Controls Ltd. – Product / Service
- Exhibit 97: Otter Controls Ltd. – Key offerings
- 10.6 Strix Group Plc
- Exhibit 98: Strix Group Plc – Overview
- Exhibit 99: Strix Group Plc – Business segments
- Exhibit 100: Strix Group Plc – Key offerings
- Exhibit 101: Strix Group Plc – Segment focus
11 Appendix
About Us
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 102: Inclusions checklist
- Exhibit 103: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 104: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 105: Research methodology
- Exhibit 106: Validation techniques employed for market sizing
- Exhibit 107: Information sources
- 11.5 List of abbreviations
- Exhibit 108: List of abbreviations
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