Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2021 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | Europe |
| CAGR: | |
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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 | ||||||
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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.
Table of Contents
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1. INTRODUCTION
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1.1 Key Deliverables of the Study
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Drivers
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4.3 Restraints
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4.4 Opportunities
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4.5 Trends Influencing the Residential Induction Cooktop Market
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4.6 Value Chain Analysis of the Residential Induction Cooktop Market
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4.7 Porter's Five Forces Analysis
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4.8 Technological Innovations
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Built-In Induction Cooktops
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5.1.2 Free-Standing and Portable Induction Cooktops
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5.2 By Distribution Channel
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5.2.1 Supermarkets/Hypermarkets
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5.2.2 Specialty Stores
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5.2.3 Online
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5.2.4 Others
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5.3 Geography
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5.3.1 North America
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5.3.1.1 United States
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5.3.1.2 Canada
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5.3.2 South America
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5.3.2.1 Brazil
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5.3.2.2 Mexico
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5.3.2.3 Others
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 France
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5.3.3.3 United Kingdom
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5.3.3.4 Others
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5.3.4 Asia-Pacific
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5.3.4.1 China
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5.3.4.2 Japan
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5.3.4.3 India
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5.3.4.4 Others
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5.3.5 Middle East & Africa
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5.3.5.1 United Arab Emirates
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5.3.5.2 Saudi Arabia
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5.3.5.3 South Africa
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5.3.5.4 Others
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6. COMPETITIVE LANDSCAPE
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6.1 COMPANY PROFILES
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6.1.1 LG Electronics, Inc.
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6.1.2 Whirlpool Corporation
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6.1.3 Panasonic Corporation
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6.1.4 Koninklijke Philips N.V.
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6.1.5 TTK Prestige Ltd
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6.1.6 Sub-Zero Group, Inc.
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6.1.7 Electrolux Group
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6.1.8 Robert Bosch GmbH
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6.1.9 Miele Group
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6.1.10 SMEG S.p.A.
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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)
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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8. APPENDIX
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Frequently Asked Questions
What is the study period of this market?
The Residential Induction Cooktops Market market is studied from 2016 - 2026.
What is Residential Induction Cooktops Market size in 2016?
The Residential Induction Cooktops Market is valued at 5.5% in 2016.
Which region has highest growth rate in Residential Induction Cooktops Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Residential Induction Cooktops Market?
Europe holds highest share in 2021.
Who are the key players in Residential Induction Cooktops Market?
LG Electronics, Inc., Whirlpool Corporation, Panasonic Corporation, Koninklijke Philips N.V., Electrolux Group are the major companies operating in Residential Induction Cooktops Market.
