Induction Cooktops Market - Trends Forecast Till 2028

Induction Cooktops Market Size, Share & Trends Analysis Report By Product (Built-in, Free-standing), By Application (Household, Commercial), By Distribution Channel (Online, Specialty Stores) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: December, 2021

Base Year Estimate: 2020

Report ID: D-CG-ICM-733

Format:  

Number of Pages: 410

Domain: Consumer Goods & Services

Induction Cooktops Market – Trends Forecast Till 2028

The global induction cooktops market size was valued at USD 18,667.8 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.5% from 2021 to 2028.

Induction cooking uses electric currents to directly heat pots and pans through magnetic induction. Instead of using thermal conduction (a gas or electric element transferring heat from a burner to a pot or pan), induction heats the cooking vessel itself almost instantly.

An increase in the number of residential and non-residential development projects, as well as a rise in the number of restaurants and eateries are some of the factors that have supported long-term expansion for Induction Cooktops Market.

Induction Cooktops Market Size Analysis

Europe was the largest regional market in 2020 and accounted for a revenue share of over 35%. On the other hand, Asia Pacific is estimated to register the fastest CAGR from 2021 to 2028.

Induction Cooktops Market is segmented into product, application, distribution channel and region.

On the basis of Product

  • Built-in
  • Free-standing                                            

On the basis of Application  

  • Household
  • Commercial

On the basis of Distribution Channel  

  • Hypermarkets & Supermarkets
  • Specialty Stores
  • Online

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Induction Cooktops Market Primary Respondent

 

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

Recent Developments

  • November 2021 on, Miele will be using just under 24 tonnes of low-carbon steel per month in the production of 60 cm ovens. The CO2 emissions generated in manufacturing this material are reduced by more than 66 % by harnessing climate-friendly energy sources and reusing scrap steel. In introducing this change, Miele is making an initial contribution to further reducing emissions from purchased goods and services (Scope 3.1) and taking an important step towards achieving its ambitious sustainability targets. This 'green steel' will be used to produce a cover plate for cookers and ovens, all of which are produced at Miele's Oelde plant.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Induction Cooktops Market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Growth Rate

CAGR of 8.5% during the forecasting period, 2021-2028

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year

2020

Units Considered

Revenue in USD million and CAGR from 2021 to 2028

Report Segmentation

Product, application, distribution channel and region.

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

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

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