Induction Cooktop Market
Induction Cooktop Market Size, Share & Trends Analysis Report by Type (Built-In, and Free-Standing), by Application (Household and Commercial), and by Distribution Channel (Online and Offline) Forecast 2022-2028 Update Available - Forecast 2024-2030
Induction cooktop market is anticipated to grow at a significant CAGR of 9.1% during the forecast period. Induction cooktop offers some of the features such as faster cooking, safety, control options, and others which give it an edge over other cooking options which is fueling the market growth of the induction cooktops. These features have interested the consumers to purchase the induction cooktop as these are very convenient, and useful.
Impact of COVID-19 Pandemic on Global Induction Cooktop Market
The COVID-19 pandemic had impacted most of the industries owing to the imposition of lockdown in most nations. This lockdown restricted most of the industries manufacturing production including induction cooktops. The governments continued the lockdown for a few months to reduce the spread of the virus. It impacted a lot to most of the industries but the induction cooktop market was not impacted much. For instance, Whirlpool, one of the key market players of the induction cooktop market, reported total revenue of $19,580 million in 2020 which was 4% less than the total revenue of 2019. But as the situation got normal, induction cooktop demand rose significantly as people shifted back to their workplaces, and preferred to use more personalized, and portable products.
Segmental Outlook
The global induction cooktop market is segmented based on the type, application, and distribution channel. Based on the type, the market is segmented into built-in, and free-standing. Based on the application, the market is sub-segmented into the household, and commercial. Based on the distribution channel, the market is segmented into online, and offline. Based on type, free-standing induction cooktop holds the major share in the market owing to its portability which makes it to use anywhere inside, and outside of the home. It can be also used in traveling, built-in has a fixed place in the home, probably in the kitchen.
Global Induction Cooktop Market Share by Distribution Channel, 2021 (%)
The Online Segment is the Fastest Growing Segment in the Global Induction Cooktop Market
The online segment in the distribution segment is the fastest-growing segment and is anticipated grow significant shares at the end of the forecast period. Online purchasing has been growing significantly before the COVID-19 pandemic but after COVID-19, consumers preference shifted to online purchasing exponentially owing to reducing the unwanted contacts for selecting products in the shops. For instance, in May 2021, United Nation reported that as per the UN trade and development experts United Nations Conference on Trade and Development (UNCTAD), the e-commerce sector raised its share of all retail sales, from 16% to 19% in 2020.
Regional Outlooks
The global Induction Cooktop market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). North America is anticipated to grow considerably during the forecast period owing to the technological advancement in the region, and initiatives to reduce environmental problems in the region which led to the potential growth of induction cooktop since it is considered as the most environment-friendly cooktop. In July 2019, in a first for California and the nation, Berkeley, CA, City Council passed an ordinance to no use of eco-friendly cooktops instead of the gas cooktop in new buildings.
Global Induction Cooktop Market Growth, by Region 2022-2028
The Asia-Pacific Region is the Fastest Growing Region in the Global Induction Cooktop Market
The Asia-Pacific region is the fastest-growing region in the global induction cooktop market owing to the presence of emerging countries such as China, India, South Korea, Japan, and others. These countries are growing exponentially which is growing industries, and job opportunities. The increasing number of people shifting to cities for work or studies has increased the demand for induction cooktops since these are a much safer, more portable, and easy to use option. As per the data of World Bank 2020, East Asia-Pacific region is the most rapidly urbanizing region in the globe. The East Asia-Pacific’s 60.698% population urbanized till 2020 which has grown 4.263% in the previous 5 years. Whereas Global urbanization increased by 2.24% from 2015 to 2020.
Market Players Outlook
The major companies serving the global induction cooktop market include Electrolux AB, LG Electronics Inc., Philips International B.V., SMEG S.p.A., Whirlpool Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2021, Stove Kraft announced the launching of a new range of upgraded products of home and kitchen appliances for the Onam festival such as mixer grinder & wet grinder, pressure cookers, cast iron cookware, sleek glass cooktop 2, 3, and 4 burners, double-walled kettle, hand blender, hand mixer, induction stove, desk lamp, turbo food processor, shears and cutting board.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global induction cooktop market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Induction Cooktop Market
• Recovery Scenario of Global Induction Cooktop Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Electrolux AB
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. LG Electronics Inc.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Philips International B.V.
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. SMEG S.p.A.
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. The Whirlpool Corp.
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Induction Cooktop Market by Type
4.1.1. Built-In
4.1.2. Free-Standing
4.2. Global Induction Cooktop Market by Application
4.2.1. Household
4.2.2. Commercial
4.3. Global Induction Cooktop Market by Distribution Channel
4.3.1. Online
4.3.2. Offline
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Bajaj Electricals Ltd.
6.2. Butterfly Gandhimathi Appliances Ltd.
6.3. De’Longhi Group (Kenwood)
6.4. Fisher & Paykel (Singapore) Pte Ltd.
6.5. Glen Appliances Pvt. Ltd.
6.6. Miele India Pvt. Ltd.
6.7. Morphy Richards India
6.8. Robert Bosch GmbH
6.9. Stovekraft Ltd.
6.10. Sub Zero Wolf
6.11. TTK Prestige Ltd.
6.12. Tuareg Marketing Pvt. Ltd. (INALSA)
1. GLOBAL INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
2. GLOBAL BUILT-IN INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL FREE-STANDING INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
5. GLOBAL HOUSEHOLD INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL COMMERCIAL INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
8. GLOBAL ONLINE INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL OFFLINE INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
11. NORTH AMERICAN INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
12. NORTH AMERICAN INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
13. NORTH AMERICAN INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
14. NORTH AMERICAN INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
15. EUROPEAN INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
16. EUROPEAN INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
17. EUROPEAN INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
18. EUROPEAN INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
19. ASIA-PACIFIC INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
20. ASIA-PACIFIC INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
21. ASIA-PACIFIC INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
23. REST OF THE WORLD INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
24. REST OF THE WORLD INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
25. REST OF THE WORLD INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
26. REST OF THE WORLD INDUCTION COOKTOP MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL INDUCTION COOKTOP MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL INDUCTION COOKTOP MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL INDUCTION COOKTOP MARKET, 2022-2028 (%)
4. GLOBAL INDUCTION COOKTOP MARKET SHARE BY TYPE, 2021 VS 2028 (%)
5. GLOBAL BUILT-IN INDUCTION COOKTOP MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL FREE-STANDING INDUCTION COOKTOP MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL INDUCTION COOKTOP MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
8. GLOBAL HOUSEHOLD INDUCTION COOKTOP MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL COMMERCIAL INDUCTION COOKTOP MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL INDUCTION COOKTOP MARKET SHARE BY DISTRIBUTION CHANNEL, 2021 VS 2028 (%)
11. GLOBAL ONLINE INDUCTION COOKTOP MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL OFFLINE INDUCTION COOKTOP MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL INDUCTION COOKTOP MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. US INDUCTION COOKTOP MARKET SIZE, 2021-2028 ($ MILLION)
15. CANADA INDUCTION COOKTOP MARKET SIZE, 2021-2028 ($ MILLION)
16. UK INDUCTION COOKTOP MARKET SIZE, 2021-2028 ($ MILLION)
17. FRANCE INDUCTION COOKTOP MARKET SIZE, 2021-2028 ($ MILLION)
18. GERMANY INDUCTION COOKTOP MARKET SIZE, 2021-2028 ($ MILLION)
19. ITALY INDUCTION COOKTOP MARKET SIZE, 2021-2028 ($ MILLION)
20. SPAIN INDUCTION COOKTOP MARKET SIZE, 2021-2028 ($ MILLION)
21. REST OF EUROPE INDUCTION COOKTOP MARKET SIZE, 2021-2028 ($ MILLION)
22. INDIA INDUCTION COOKTOP MARKET SIZE, 2021-2028 ($ MILLION)
23. CHINA INDUCTION COOKTOP MARKET SIZE, 2021-2028 ($ MILLION)
24. JAPAN INDUCTION COOKTOP MARKET SIZE, 2021-2028 ($ MILLION)
25. SOUTH KOREA INDUCTION COOKTOP MARKET SIZE, 2021-2028 ($ MILLION)
26. REST OF ASIA-PACIFIC INDUCTION COOKTOP MARKET SIZE, 2021-2028 ($ MILLION)
27. REST OF THE WORLD INDUCTION COOKTOP MARKET SIZE, 2021-2028 ($ MILLION)
