Global Induction Cooktops Market, By Product Type (Free Standing Induction Cooktops, Integrated Induction Cooktops), Size (Small, Medium, Large), Surface (Flat Surface, Concave Surface), Power (Less than 5 KW, Between 5 KW- 10 KW, More than 10 KW), Application (Household, Commercial), Distribution Channel (Supermarkets, Specialty Stores, Online Stores, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Induction Cooktops Market
The induction cooktops market is expected to witness market growth at a rate of 4.90% in the forecast period of 2021 to 2028, and will reach the value of USD 29,992.59 million by 2028. Data Bridge Market Research report on induction cooktops market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. Rapid urbanization is escalating the growth of induction cooktops market.
Induction cooktops, also called induction hobs that are utilized as induction technology for generating electromagnetic field and transferring heat directly to the bottom of the metal vessel. These metal vessel must be made of ferrous metals such as cast iron or steel. The cooking pan or vessel is heated by a magnetic field instead of heating the bottom of the cooking vessel with an flame or electric heating element.
The rise in trends towards modular kitchen among middle-income age groups across the globe acts as one of the major factors driving the growth of induction cooktops market. The increase in the adoption of induction cooktops as they were relatively safe than LPG cylinders because of the absence of open flames, and growth in awareness regarding safety among consumers all over the world to procure advanced cooking appliances accelerate the market growth. The surge in demand for induction cooktops as they automatically shut off when cookware and high preference for the cooktops because they are safer and more energy efficient as compared to the conventional cooktop further influence the market. Additionally, adoption of e-commerce sales channels, surge in disposable income, demand for smart kitchens and smart strategic marketing activities positively affect the induction cooktops market. Furthermore, growth of online marketing across the globe extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, requirement of initial investment on specialized cookware is expected to obstruct the market growth. Aluminium, copper pans and glass cookware do not work on induction cooktops which act as challenge for induction cooktops market in the forecast period of 2021-2028.
This induction cooktops market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on induction cooktops market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Induction Cooktops Market Scope and Market Size
The induction cooktops market is segmented on the basis of product type, size, surface, power, application and distribution channel. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of product type, the induction cooktops market is segmented into free standing induction cooktops and integrated induction cooktops.
- On the basis of size, the induction cooktops market is segmented into small, medium and large.
- On the basis of surface, the induction cooktops market is segmented into flat surface and concave surface.
- On the basis of power, the induction cooktops market is segmented into less than 5 kw, between 5 kw- 10 kw, and more than 10 kw.
- On the basis of application, the induction cooktops market is segmented into household and commercial.
- On the basis of distribution channel, the induction cooktops market is segmented into supermarkets, specialty stores, online stores and others.
Global Induction Cooktops Market Country Level Analysis
The induction cooktops market is analyzed and market size, volume information is provided by country, product type, size, surface, power, application and distribution channel as referenced above.
The countries covered in the global induction cooktops market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe dominates the induction cooktops market because of the adoption of innovative smart kitchen appliances within the region. Asia-Pacific is expected to witness high growth during the forecast period of 2021 to 2028 because of the rising number of housing projects in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Induction Cooktops Market Share Analysis
The induction cooktops market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to induction cooktops market.
The major players covered in the induction cooktops market reports are Electrolux, elica, Whirlpool of India., LG Electronics, Faber, ROBAM APPLIANCES PVT. LTD., Midea Group, BSH Home Appliances Group, Robert Bosch GmbH, Haier Inc., Miele, Panasonic Corporation, IFB Industries Ltd., AMICA, Smeg, FABER S.p.A., Sunflame, Kaff.in., Glen India, and Hindware Appliances, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand.
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