Global Household Induction Cooktops Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Household Induction Cooktops Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global household induction cooktops market report has been segmented as per product type, size, sales channel, and region.
Global Household Induction Cooktops Market: Overview
The household induction cooktop also known as hobs and are able to provide better thermal efficiency, faster pan heating by electromagnetic field. These induction cooktops are safe and comfortable to use and also easy to clean due to its safety features, smooth and flat cooking surface. The induction cooktop generates heat energy under surface of the pan which helps to cook food efficiently and quickly. Also, the advanced induction cooktops help to save cooking time and are energy efficient.
Global Household Induction Cooktops Market: Dynamics
Increasing technological advancements, and increasing penetration of smart kitchen appliances across the globe are major factors expected to boost growth of the global household induction cooktops market over the forecast period. In addition, rising awareness about advanced features and safety benefits of induction cooktops such as less energy/electricity consumption, auto program, various cooking modes, and many more are key factors expected to support growth of the global market.
Increasing popularity of modular kitchens, rising preference for optimized cooking solutions, increasing awareness about energy saving, and rising working female population in emerging countries are other key factors expected to drive growth of the target market. In addition, increasing price of LPG (liquefied petroleum gas) in many countries resulting in rising demand for induction cooktops among individuals is another factor supporting growth of the target market.
However, initial product cost as compare to conventional cooking appliances and requirement of specialized cookware’s are major factors expected to restraint growth of the global household induction cooktops market.
Global Household Induction Cooktops Market: Segment Analysis
Increasing preference for built-in cooktops among working individuals across the globe is a primary factor driving revenue growth of the built-in (integrated) cooktops segment among the product type segment.
Among sales channel, E-commerce segment is expected to witness highest growth during the forecast period, owing to increasing reach of E-commerce industry and internet penetration across the globe. In addition, availability of various facilities and attractive discounts on E-commerce platform such as, easy exchange and return, product price comparison, easy payment modes, and free home delivery is expected to support growth of E-commerce segment during the forecast period.
Global Household Induction Cooktops Market: Region Analysis
The market in North America is expected to dominate in the global market and is expected to continue its dominance over the forecast period. The dominance can be attributed to rising technological advancements in cooking equipment, increasing health concerns among individuals, and high adoption of energy efficient cooking solutions in countries in the region. Market in Asia Pacific is expected to register highest growth in terms of CAGR in the global market followed by market in Europe, owing to increasing penetration of modular kitchen, increasing working population, and rising demand for integrated induction cooktops among individuals in these regions. The market in Latin America and Middle East & Africa are expected to witness moderate growth, owing to rising awareness about induction cooktops among individuals in these region.
Global Household Induction Cooktops Market Segmentation:
Segmentation by Product Type:
- Portable (Free-Standing) Cooktops
- Built-in (Integrated) Cooktops
Segmentation by Size:
Segmentation by Sales Channel:
- Specialty Stores
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Dongbu Daewoo Electronics Corporation
- Whirlpool Corporation
- LG Electronics Inc.
- Philips Electronics Ltd.
- Panasonic Corporation
- TTK Prestige Limited
- Miele & Cie. KG
- Sub-Zero, Inc.
- Fisher & Paykel Appliances Holdings Limited
- Glen Dimplex Home Appliances Limited
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