HOUSEHOLD INDUCTION COOKTOPS MARKET ANALYSIS

A household induction cooktop is an electronic appliance that uses an electromagnetic field for heating a cooking pan. Over the forecast period, the increasing need for energy and time-saving cooking appliances and the shifting inclination towards modular kitchens are expected to augment the demand for household induction cooktops.

Market Dynamics

Growth in the urban population is expected to serve major growth opportunities in global household induction cooktops market. Emerging economies such as India, Latin American countries, Brazil, China, etc., are experiencing rapid urbanization due to various economic factors such as rising disposable income in individuals and the availability of innovative products in the market. Due to this, new players are penetrating (with advanced products at competitive prices) the emerging markets of the Asia Pacific region such as China, South Korea, India, etc. All these factors are projected to propel the market growth over the forecast period.

The adoption of induction cooktops owing to their convenience, and enhanced aesthetic appeal is driving their demand across the globe. Also, low carbon emission by induction cooktops as compared to conventional gas cooktops has facilitated market growth in the last few years. Moreover, the ability of induction cooktops to quickly control and change the temperature and heat for precision cooking is triggering its demand among food enthusiasts.

Household induction cooktops require special magnetic cookware that is costlier than conventional plastic or porcelain cookware. Thus, the high cost of household induction cooktops due to the need for ferromagnetic material cookware is expected to restrict their adoption to some extent in developing regions like Africa, thereby hindering market growth.

Key features of the study:

• This report provides an in-depth analysis of the global household induction cooktops market size (US$ Billion and Bn Units), and Compound Annual Growth Rate (CAGR %) for the forecast period (2023 – 2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains an attractive investment proposition matrix for this market
• This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
• It profiles leading players in the global household induction cooktops market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered as a part of this study include AB Electrolux, Daewoo Electronics Corporation, Whirlpool Corporation, Haier Group, LG Electronics, Panasonic Corporation, Philips Electronics, Videocon Industries Limited, Robert Bosch Gmbh, Fisher & Paykel Appliances Holdings Ltd., Stoves Appliance Company (Glen Dimplex Home Appliances Ltd.), and Miele & Cie. Kg.
• Insights from this report would allow marketers and the management authorities of companies to make an informed decision regarding their future product launches, Product Type up-gradation, market expansion, and marketing tactics
• The global household induction cooktops market report caters to various stakeholders in this industry including investors, suppliers, global household induction cooktops manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global household induction cooktops market

Detailed Segmentation:

• Global Household Induction Cooktops Market, By Product:
  • Free-Standing (Portable) household induction cook-tops
  • Integrated (Built-in) household induction cook-tops
• Global Household Induction Cooktops Market, By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
• Company Profiles
  • AB Electrolux*
    • Company Overview
    • Product Portfolio
    • Financial Performance
    • Key Strategies
    • Recent Developments
    • Future Plans
  • Daewoo Electronics Corporation
  • Whirlpool Corporation
  • Haier Group
  • LG Electronics
  • Panasonic Corporation
  • Philips Electronics
  • Videocon Industries Limited
  • Robert Bosch Gmbh
  • Fisher & Paykel Appliances Holdings Ltd.
  • Stoves Appliance Company (Glen Dimplex Home Appliances Ltd.)
  • Miele & Cie. Kg.

 “*” marked represents similar segmentation in other categories in the respective.