Induction Cooktops Market: Key Players, Applications, Outlook, SWOT Analysis And Forecasts By 2027

In this 21st century, mankind is blessed with multifarious advanced technologies for nearly everything which makes life simpler. Similarly, there are cooking appliances, which make cooking easy, convenient and environment-friendly. Induction cooktops can be considered as one of the advanced technological innovations that work on electricity and is extremely safe to cook food effortlessly.

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Induction cooktops, also known as induction hobs, use induction technology to generate electromagnetic field and transfer heat directly to the bottom of the metal vessel that must be made of ferrous metals such as cast iron or steel. Since, the cooking pan or vessel is heated by a magnetic field rather than heating the bottom of the cooking vessel with an electric heating element or flame, energy wastage by heating up the surrounding air around the cooking vessel is very less and it makes the induction cooktop energy efficient. The cooking surface of induction cooktops are generally made from tough, heat resistant ceramic or glass.

Induction Cooktops: Regional Outlook

In terms of geography, Europe holds a major market share in the global induction cooktops market. However, Asia Pacific region is becoming a fast growing region in the global induction cooktops market owing to rising disposable incomes and rapid urbanization that lead to increase in sales of induction cooktops majorly in India and China.

Induction Cooktops: Market Participants

Examples of some of the market participants identified across the value chain of global induction cooktops market include:

·         Avantco Equipment

·         Alluserv

·         APW Wyott

·         Eurodib

·         Bajaj Electricals

·         Inalsa

·         Philips India

·         Stovekraft

·         TTK Prestige Ltd.

·         Panasonic

·         LG Electronics

·         Haier Group

·         Hatco

·         Vollrath

·         Waring

·         Bon Chef

·         Globe

·         Cal-Mil

Induction cooktops manufacturers are focusing on improved quality products development with additional new features in order to increase their market share in the global induction cooktops market. Introduction of induction cooktops with multiple hot surfaces and advanced auto cook features are gaining traction in the market.

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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

The report covers exhaust analysis on:

·         Market Segments

·         Market Dynamics

·         Market Size

·         Supply & Demand

·         Current Trends/Issues/Challenges

·         Competition & Companies involved

·         Technology

·         Value Chain

Regional analysis includes:

·         North America (U.S., Canada)

·         Latin America (Mexico. Brazil)

·         Western Europe (Germany, Italy, France, U.K, Spain)

·         Eastern Europe (Poland, Russia)

·         Asia Pacific (China, India, ASEAN, Australia & New Zealand)

·         Japan

·         Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Induction Cooktops: Market Segmentation

Based on product type, the global induction cooktops market is segmented into the following:

·         Free standing induction cooktops

·         Integrated induction cooktops

Based on size, the global induction cooktops market is segmented into the following:

·         Small

·         Medium

·         Large

Based on surface, the global induction cooktops market is segmented into the following:

·         Flat surface

·         Concave surface

Based on Power, the global induction cooktops market is segmented into the following:

·         Less than 5 KW

·         Between 5 KW- 10 KW

·         More than 10 KW

Based on Distribution Channel, the global induction cooktops market is segmented into the following:

·         Supermarkets

·         Specialty Stores

·         Online Stores

·         Others

Based on application, the global induction cooktops market is segmented into the following:

·         Household

·         Commercial

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Induction Cooktops: Market Dynamics

Rapid urbanization and rising awareness among consumers to opt for energy efficient kitchen appliances with advanced safety features are the major driving factors for the induction cooktops market. In addition to that, induction cooktops are relatively safe than LPG cylinders because of the absence of open flames. Owing to the rising prices of conventional cooking fuel, people are choosing induction cooktops as an alternative option. Moreover, induction cooktops have become a part of lifestyle standards for healthy and safe cooking.

However, cost is the major restraint for induction cooktops market as they are two to three times more expensive than an ordinary gas or electric cooktop. Moreover, induction cooktops can work properly with cooking vessel made up from cast iron or steel.  Aluminium, copper pans and glass cookware do not work on induction cooktops, which is also a restraint to the market growth.

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