Electric Ranges Market 2030: Innovations That Enhance Cooking Efficiency

The worldwide electric ranges market**** valued at USD 23.06 billion in 2023, is projected to expand at a robust CAGR of 7.3% from 2024 to 2030. This surge is driven by a growing appetite for energy-saving kitchen appliances, heightened consciousness about eco-friendly living, and cutting-edge innovations in cooking tech that boost both ease and versatility of electric ranges. Moreover, the rising wave of smart home connectivity and the appeal of electric ranges among city dwellers craving sleek, modern kitchen solutions are accelerating market momentum.

A 2023 Climate Nexus poll uncovers a split in American preferences for cooking appliances: 43% lean toward gas stoves, while 42% opt for electric, reflecting a closely contested sentiment. However, concerns about gas stove safety are mounting, with strong public backing for regulations to curb risks tied to gas appliances and methane emissions. This evolving perspective on gas safety, paired with growing recognition of natural gas’s environmental toll, is steering consumers toward electric ranges as safer, greener alternatives. As a result, the electric ranges market is primed for expansion, with consumers increasingly embracing the energy efficiency and lower emissions of electric cooking technologies, in sync with broader sustainability trends.

Get a preview of the latest developments in the Electric Ranges Market; Download your FREE sample PDF copy today and explore key data and trends

Consumer Reports’ 2022 analysis highlights the edge electric ranges hold over gas models in key performance tests. In high- and low-heat tasks, nearly half of electric smooth-top ranges score excellent ratings, while gas ranges lag behind with none reaching that mark. Although gas stoves shine in baking, electric ranges excel in broiling, with over half earning very good scores. This performance disparity, combined with rising worries about health risks and environmental harm from gas stoves—like methane leaks—is fueling a shift toward electric models.

With awareness of these dynamics growing, the electric ranges market is set for substantial growth. Manufacturers are doubling down on improving the efficiency and performance of electric ranges, making them increasingly attractive to consumers seeking dependable, safe, and sustainable cooking solutions.

Product Insights

Freestanding electric ranges accounted for the largest revenue share of 62.10% in 2023 primarily due to their versatility, ease of installation, and cost-effectiveness. These appliances are popular among homeowners for their convenience, as they can be placed anywhere in the kitchen without the need for built-in cabinetry.

Distribution Channel Insights

Mass retailer-driven sales accounted for over 47% of the global revenue in 2023. Mass retailers are driving sales in the electric ranges market due to their ability to leverage economies of scale, extensive distribution networks, and aggressive pricing strategies. By offering a wide selection of products from various brands at competitive prices, these retailers attract a broad customer base seeking value and convenience.

Application Insights

Electric ranges saw an increased demand in residential applications, accounting for over 80% of the global market revenue in 2023. The surge in demand for electric ranges in residential applications is attributed to the growing number of households opting for electric cooking solutions. As of 2023, approximately 67 million U.S. households-around 50% of total homes-utilized electric ranges, highlighting a significant market segment.

Regional Insights

North America electric ranges market accounted for a revenue share of 37.11% in 2023, driven by factors such as a strong preference for energy-efficient appliances and innovative cooking technologies. For example, the growing popularity of induction cooking, which is not only faster but also more energy-efficient, has led to increased consumer interest in electric ranges that feature this technology. Additionally, local manufacturers like Whirlpool and GE have invested heavily in smart appliance features, such as Wi-Fi connectivity and voice control, appealing to tech-savvy consumers.

Key Electric Ranges Company Insights

The electric ranges market is concentrated in nature. Major companies, such as Whirlpool Corporation, GE Appliances, Samsung, LG Electronics, and Bosch, collectively hold a substantial share of the market due to their established brand recognition, extensive product portfolios, and continuous innovation in features and technology. This concentration allows these companies to leverage economies of scale and maintain competitive pricing, while also investing in research and development to meet evolving consumer preferences for smart, energy-efficient cooking solutions.

Key Electric Ranges Companies:

The following are the leading companies in the electric ranges market. These companies collectively hold the largest market share and dictate industry trends.

• Whirlpool Corporation
• Samsung Electronics Co. Ltd.
• LG Electronics Inc.
• General Electric (GE Appliances)
• Bosch (BSH Hausgeräte GmbH)
• Frigidaire
• Haier Group Corporation
• Miele & Cie. KG
• Brown Stove Works, INC.
• Rangaire

Electric Ranges Market Segmentation

Grand View Research has segmented the global electric ranges market on the basis of product, application, distribution channel, and region:

Electric Ranges Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Freestanding Electric Ranges
• Slide-in Electric Ranges
• Drop-in Electric Ranges

Electric Ranges Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Residential
• Commercial

Electric Ranges Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)

• Mass Retailers
• Electronic & Appliance Stores
• Online/E-Commerce
• Others

Electric Ranges Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa
  • UAE

Curious about the Electric Ranges Market? Download your FREE sample copy now and get a sneak peek into the latest insights and trends.

Recent Developments

• In March 2024, GE Appliances introduced a new range lineup featuring 36 models, including the top-tier GE 30" Slide-In Electric Convection Range with No Preheat Air Fry and the EasyWash Oven Tray, designed for faster cooking and easier cleaning. The EasyWash tray simplifies oven clean-up, while No Preheat cooking modes reduce meal prep time. Additional features include Express Preheat, PowerBoil burners, and WiFi connectivity for remote control and future updates. The lineup is available in gas and electric models, with prices starting at USD 899.
• In January 2023, Sharp Home Electronics showcased new 30" slide-in electric ranges and smart combi appliances at the 2023 Kitchen & Bath Industry Show (KBIS) in Las Vegas. The lineup includes electric and gas convection ranges with features like Air Fry, Pizza modes, and temperature probes. Sharp also introduced smart convection wall ovens and radiant range tops with integrated Microwave Drawer Ovens, compatible with Alexa. These appliances emphasize convenience, versatility, and premium design.****