RESIDENTIAL INDUCTION COOKTOPS MARKET - GROWTH, TRENDS, AND FORECAST (2019-2024)

The Market is Segmented By Type (Built-In Induction Cooktops, Free-Standing and Portable Induction Cooktops), By End-User (Residential, and Commercial), by Geography (North America, Europe, Asia-Pacific, South America, and the Middle East and Africa)

Market Snapshot

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Study Period:

2015-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Europe

CAGR:

5.5%

Key Players:

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Market Overview

An induction cooktop uses an electromagnetic field to heat up a pan while leaving the cooking surface cool to the touch and without heating up the kitchen.

  • Rapid urbanization and adoption of energy efficient kitchen appliances by consumers are the key drivers impacting the market growth. Moreover, changing lifestyle and increasing prices of conventional cooking fuel are favoring the market growth. However, the expensive cost of induction cooktops is hampering the market.
  • The demand for household induction cooktops is high among the urban population especially in the developing nations, due to factors such as high purchasing power, better infrastructural facilities, and increase in working population.
  • Rise in fuel prices for conventional gas cooktops and growth in trend for modular kitchens along with comfortable and safety benefits to the users are the major factors that drive the household induction cooktops market.
  • Presently, induction cooktops are in high demand among working women and urban population, owing to ease of operations and benefits towards healthy cooking.

Scope of the Report

A complete background analysis of the Residential Induction Cooktop Market, which includes an assessment of the parental market, emerging trends by segments and regional markets, Significant changes in market dynamics and market overview is covered in the report.

By Type
Built-In Induction Cooktops
Free-Standing and Portable Induction Cooktops
By Distribution Channel
Supermarkets/Hypermarkets
Specialty Stores
Online
Others
Geography
North America
United States
Canada
South America
Brazil
Mexico
Others
Europe
Germany
France
United Kingdom
Others
Asia-Pacific
China
Japan
India
Others
Middle East & Africa
United Arab Emirates
Saudi Arabia
South Africa
Others

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Key Market Trends

Built-In Induction Cooktops Segment is Dominating the Market

The built-in induction cooktops segment has a major share in the household induction cooktops industry, followed by free-standing & portable induction cooktops. The manufacturers focus on the quality and innovation in the product, owing to which the market is estimated to witness a surge in the demand for all the segments.

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Asia-Pacific is Expected to Witness the Highest Growth

By geography, the hot tub market is divided into Asia Pacific, Europe, North America, the Middle East and Africa, and South America. The Asia Pacific is anticipated to be a rapidly growing region of the market, followed by Europe and North America, during the forecast period.

The growing urbanization and rising purchasing power of consumers in the region, especially from China and India, are expected to drive the growth of the market in the region. The growth is owing to the changing lifestyle and growing trend towards modern appliances in the country.

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Competitive Landscape

The report covers major international players operating in the Residential Induction Cooktop Market. In terms of market share, few of the major players currently dominate the market. However, demand is driven by consumer income. Large companies compete through volume purchasing, breadth of products, and effective merchandising and marketing. Small companies focus on a market segment and compete through the depth of products and superior customer service.

 

Major Players

  1. LG Electronics, Inc.
  2. Whirlpool Corporation
  3. Panasonic Corporation
  4. Koninklijke Philips N.V.
  5. Electrolux Group

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Key Deliverables of the Study

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Drivers

    3. 4.3 Restraints

    4. 4.4 Opportunities

    5. 4.5 Trends Influencing the Residential Induction Cooktop Market

    6. 4.6 Value Chain Analysis of the Residential Induction Cooktop Market

    7. 4.7 Porter's Five Forces Analysis

    8. 4.8 Technological Innovations

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Built-In Induction Cooktops

      2. 5.1.2 Free-Standing and Portable Induction Cooktops

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarkets/Hypermarkets

      2. 5.2.2 Specialty Stores

      3. 5.2.3 Online

      4. 5.2.4 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 South America

        1. 5.3.2.1 Brazil

        2. 5.3.2.2 Mexico

        3. 5.3.2.3 Others

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 France

        3. 5.3.3.3 United Kingdom

        4. 5.3.3.4 Others

      4. 5.3.4 Asia-Pacific

        1. 5.3.4.1 China

        2. 5.3.4.2 Japan

        3. 5.3.4.3 India

        4. 5.3.4.4 Others

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 United Arab Emirates

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 South Africa

        4. 5.3.5.4 Others

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 COMPANY PROFILES

      1. 6.1.1 LG Electronics, Inc.

      2. 6.1.2 Whirlpool Corporation

      3. 6.1.3 Panasonic Corporation

      4. 6.1.4 Koninklijke Philips N.V.

      5. 6.1.5 TTK Prestige Ltd

      6. 6.1.6 Sub-Zero Group, Inc.

      7. 6.1.7 Electrolux Group

      8. 6.1.8 Robert Bosch GmbH

      9. 6.1.9 Miele Group

      10. 6.1.10 SMEG S.p.A.

      11. 6.1.11 Other Companies (Daewoo Electronics Corporation, Fisher & Paykel Appliances Holdings Ltd., Glen Dimplex Home Appliances Ltd.,, Videocon Industries Limited, Bajaj Electricals Ltd, Haier Group, Morphy Richards, Inalsa Appliances, Kenwood Limited, and Butterfly Gandhimathi Appliances Limited)

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. APPENDIX

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