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Induction Cooktops Market Growth at a CAGR of 10.5% from 2021 to 2030

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The global Induction Cooktops market size was reached at USD 20,667.8 million in 2020 and is projected to surpass US$ 45.9 billion by 2030, expanding growth at a CAGR of 10.5% from 2021 to 2030. 

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Growth Factors

 The increased use of induction cooktops in Asia and Western areas of the world has been fueled by rising customer demand for hassle-free and clean cooking technology. Induction cooktops provide a number of advantages over standard gas stoves, such as faster water boiling, no heating of the burners, easy surface cleaning, and energy efficiency. These advantages have attracted not only a significant number of home chefs but also professional chefs.

Induction stoves are not some Veblen goods for image-conscious elites, despite the fact that they are a little more expensive than gas or electric stoves. The most affordable induction ranges costs $1,000, which is only a few hundred dollars more than a mid-tier gas or electric freestanding range.

Report Highlights

On the basis of product, the market has been segmented into built-in and free-standing. In terms of value, the built-in product segment dominated the market with a share of 72.1% in 2020. An increasing number of residential as well as commercial construction projects is driving the segment.

The household segment led the global market with a revenue share of over 82% in 2020 and will expand further at the fastest CAGR over the forecast period. In residential settings, induction cooktops are favored because they deliver better cooking results. Induction ranges from low power, moderate enough for bakers to melt chocolate without a double boiler, to high power, capable of boiling water significantly faster than a comparable gas burner.

Europe was the largest regional market in 2020 and accounted for a revenue share of over 45%. On the other hand, Asia Pacific is estimated to register the fastest CAGR from 2021 to 2030. The growing urbanization and increased spending power of consumers in Asia Pacific are likely to propel market growth. The presence of worldwide consumer induction cooktop providers in the region also contributes to the market growth. Moreover, changing lifestyles and growing preferences for contemporary appliances contribute to market development.

Key Players

  • Whirlpool Corp.
  • LG Electronics, Inc.
  • Electrolux AB
  • TTK Group
  • Smeg S.p.A
  • Koninklijke Philips N.V.
  • Robert Bosch GmbH
  • Avis Rent a Car System, LLC
  • Panasonic Corp.
  • Sub-Zero Group, Inc.
  • Miele & Cie. KG
Report Coverage Details
Market Size US$ 45.9 billion by 2030
Growth Rate CAGR of 10.5% From 2021 to 2030
Base Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Product, Application, Distribution Channel
Regional Scope North America, Latin America, Europe, Asia Pacific, MEA
Companies Mentioned Whirlpool Corp.; LG Electronics, Inc.; Electrolux AB; TTK Group; Smeg S.p.A.; Koninklijke Philips N.V.; Robert Bosch GmbH; Avis Rent a Car System, LLC; Panasonic Corp.; Sub-Zero Group, Inc.; Miele & Cie. KG

Market Segmentation

  • Product
    • Built-in
    • Free-standing
  • Application
    • Household
    • Commercial
  • Distribution Channel
    • Hypermarkets & Supermarkets
    • Specialty Stores
    • Online
  • Regional Outlook
    • North America
      • U.S.
    • Europe
      • Germany
      • U.K.
    • Asia Pacific
      • China
      • India
    • Central & South America
      • Brazil
    • Middle East & Africa
      • South Africa

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Induction Cooktops Market, By Product

7.1.  Induction Cooktops Market, by Product, 2021-2030

7.1.1.    Built-in

7.1.1.1.        Market Revenue and Forecast (2016-2030)

7.1.2.    Free-standing

7.1.2.1.        Market Revenue and Forecast (2016-2030)

Chapter 8.  Global Induction Cooktops Market, By Application

8.1.  Induction Cooktops Market, by Application, 2021-2030

8.1.1.    Household

8.1.1.1.        Market Revenue and Forecast (2016-2030)

8.1.2.    Commercial

8.1.2.1.        Market Revenue and Forecast (2016-2030)

Chapter 9.  Global Induction Cooktops Market, By End User

9.1.  Induction Cooktops Market, by End User, 2021-2030

9.1.1.    Hypermarkets & Supermarkets

9.1.1.1.        Market Revenue and Forecast (2016-2030)

9.1.2.    Specialty Stores

9.1.2.1.        Market Revenue and Forecast (2016-2030)

9.1.3.    Online

9.1.3.1.        Market Revenue and Forecast (2016-2030)

Chapter 10.      Global Induction Cooktops Market, Regional Estimates and Trend Forecast

10.1.        North America

10.1.1.  Market Revenue and Forecast, by Product (2016-2030)

10.1.2.  Market Revenue and Forecast, by Application (2016-2030)

10.1.3.  Market Revenue and Forecast, by End User (2016-2030)

10.1.4.  U.S.

10.1.4.1.      Market Revenue and Forecast, by Product (2016-2030)

10.1.4.2.      Market Revenue and Forecast, by Application (2016-2030)

10.1.4.3.      Market Revenue and Forecast, by End User (2016-2030)

10.1.5.  Rest of North America

10.1.5.1.      Market Revenue and Forecast, by Product (2016-2030)

10.1.5.2.      Market Revenue and Forecast, by Application (2016-2030)

10.1.5.3.      Market Revenue and Forecast, by End User (2016-2030)

10.2.        Europe

10.2.1.  Market Revenue and Forecast, by Product (2016-2030)

10.2.2.  Market Revenue and Forecast, by Application (2016-2030)

10.2.3.  Market Revenue and Forecast, by End User (2016-2030)

10.2.4.  UK

10.2.4.1.      Market Revenue and Forecast, by Product (2016-2030)

10.2.4.2.      Market Revenue and Forecast, by Application (2016-2030)

10.2.4.3.      Market Revenue and Forecast, by End User (2016-2030)

10.2.5.  Germany

10.2.5.1.      Market Revenue and Forecast, by Product (2016-2030)

10.2.5.2.      Market Revenue and Forecast, by Application (2016-2030)

10.2.5.3.      Market Revenue and Forecast, by End User (2016-2030)

10.2.6.  France

10.2.6.1.      Market Revenue and Forecast, by Product (2016-2030)

10.2.6.2.      Market Revenue and Forecast, by Application (2016-2030)

10.2.6.3.      Market Revenue and Forecast, by End User (2016-2030)

10.2.7.  Rest of Europe

10.2.7.1.      Market Revenue and Forecast, by Product (2016-2030)

10.2.7.2.      Market Revenue and Forecast, by Application (2016-2030)

10.2.7.3.      Market Revenue and Forecast, by End User (2016-2030)

10.3.        APAC

10.3.1.  Market Revenue and Forecast, by Product (2016-2030)

10.3.2.  Market Revenue and Forecast, by Application (2016-2030)

10.3.3.  Market Revenue and Forecast, by End User (2016-2030)

10.3.4.  India

10.3.4.1.      Market Revenue and Forecast, by Product (2016-2030)

10.3.4.2.      Market Revenue and Forecast, by Application (2016-2030)

10.3.4.3.      Market Revenue and Forecast, by End User (2016-2030)

10.3.5.  China

10.3.5.1.      Market Revenue and Forecast, by Product (2016-2030)

10.3.5.2.      Market Revenue and Forecast, by Application (2016-2030)

10.3.5.3.      Market Revenue and Forecast, by End User (2016-2030)

10.3.6.  Japan

10.3.6.1.      Market Revenue and Forecast, by Product (2016-2030)

10.3.6.2.      Market Revenue and Forecast, by Application (2016-2030)

10.3.6.3.      Market Revenue and Forecast, by End User (2016-2030)

10.3.7.  Rest of APAC

10.3.7.1.      Market Revenue and Forecast, by Product (2016-2030)

10.3.7.2.      Market Revenue and Forecast, by Application (2016-2030)

10.3.7.3.      Market Revenue and Forecast, by End User (2016-2030)

10.4.        MEA

10.4.1.  Market Revenue and Forecast, by Product (2016-2030)

10.4.2.  Market Revenue and Forecast, by Application (2016-2030)

10.4.3.  Market Revenue and Forecast, by End User (2016-2030)

10.4.4.  GCC

10.4.4.1.      Market Revenue and Forecast, by Product (2016-2030)

10.4.4.2.      Market Revenue and Forecast, by Application (2016-2030)

10.4.4.3.      Market Revenue and Forecast, by End User (2016-2030)

10.4.5.  North Africa

10.4.5.1.      Market Revenue and Forecast, by Product (2016-2030)

10.4.5.2.      Market Revenue and Forecast, by Application (2016-2030)

10.4.5.3.      Market Revenue and Forecast, by End User (2016-2030)

10.4.6.  South Africa

10.4.6.1.      Market Revenue and Forecast, by Product (2016-2030)

10.4.6.2.      Market Revenue and Forecast, by Application (2016-2030)

10.4.6.3.      Market Revenue and Forecast, by End User (2016-2030)

10.4.7.  Rest of MEA

10.4.7.1.      Market Revenue and Forecast, by Product (2016-2030)

10.4.7.2.      Market Revenue and Forecast, by Application (2016-2030)

10.4.7.3.      Market Revenue and Forecast, by End User (2016-2030)

10.5.        Latin America

10.5.1.  Market Revenue and Forecast, by Product (2016-2030)

10.5.2.  Market Revenue and Forecast, by Application (2016-2030)

10.5.3.  Market Revenue and Forecast, by End User (2016-2030)

10.5.4.  Brazil

10.5.4.1.      Market Revenue and Forecast, by Product (2016-2030)

10.5.4.2.      Market Revenue and Forecast, by Application (2016-2030)

10.5.4.3.      Market Revenue and Forecast, by End User (2016-2030)

10.5.5.  Rest of LATAM

10.5.5.1.      Market Revenue and Forecast, by Product (2016-2030)

10.5.5.2.      Market Revenue and Forecast, by Application (2016-2030)

10.5.5.3.      Market Revenue and Forecast, by End User (2016-2030)

Chapter 11.  Company Profiles

11.1.              Whirlpool Corp.

11.1.1.  Company Overview

11.1.2.  Product Offerings

11.1.3.  Financial Performance

11.1.4.  Recent Initiatives

11.2.              LG Electronics, Inc.

11.2.1.  Company Overview

11.2.2.  Product Offerings

11.2.3.  Financial Performance

11.2.4.  Recent Initiatives

11.3.              Electrolux AB

11.3.1.  Company Overview

11.3.2.  Product Offerings

11.3.3.  Financial Performance

11.3.4.  Recent Initiatives

11.4.              TTK Group

11.4.1.  Company Overview

11.4.2.  Product Offerings

11.4.3.  Financial Performance

11.4.4.  Recent Initiatives

11.5.              Smeg S.p.A

11.5.1.  Company Overview

11.5.2.  Product Offerings

11.5.3.  Financial Performance

11.5.4.  Recent Initiatives

11.6.              Koninklijke Philips N.V.

11.6.1.  Company Overview

11.6.2.  Product Offerings

11.6.3.  Financial Performance

11.6.4.  Recent Initiatives

11.7.              Robert Bosch GmbH

11.7.1.  Company Overview

11.7.2.  Product Offerings

11.7.3.  Financial Performance

11.7.4.  Recent Initiatives

11.8.              Avis Rent a Car System, LLC

11.8.1.  Company Overview

11.8.2.  Product Offerings

11.8.3.  Financial Performance

11.8.4.  Recent Initiatives

11.9.              Panasonic Corp.

11.9.1.  Company Overview

11.9.2.  Product Offerings

11.9.3.  Financial Performance

11.9.4.  Recent Initiatives

11.10.           Sub-Zero Group, Inc.

11.10.1.               Company Overview

11.10.2.               Product Offerings

11.10.3.               Financial Performance

11.10.4.               Recent Initiatives

11.11.           Miele & Cie. KG

11.11.1.               Company Overview

11.11.2.               Product Offerings

11.11.3.               Financial Performance

11.11.4.               Recent Initiatives

Chapter 12.  Research Methodology

12.1.              Primary Research

12.2.              Secondary Research

12.3.              Assumptions

Chapter 13.  Appendix

13.1.              About Us

13.2.              Glossary of Terms

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