In the twenty-first century, humanity has been endowed with a plethora of modern technologies for practically everything that makes life easier. Cooking appliances, on the other hand, make cooking simple, convenient, and environmentally friendly. Induction cooktops are one of the most modern technological advancements that operate on electricity and are incredibly safe to use while cooking meals.
Induction cooktops, also known as induction hobs, employ induction technology to create an electromagnetic field and transfer heat directly to the bottom of a ferrous metal vessel, such as cast iron or steel. Because the cooking pan or vessel is heated by a magnetic field rather than an electric heating element or flame, there is less energy wasted by heating the surrounding air around the cooking vessel, making the induction cooktop energy efficient. Induction cooktops often have a robust, heat-resistant ceramic or glass cooking surface.
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There are numerous advantages of using induction cooktops. Firstly, they are more energy-efficient appliances (around 90 percent) when compared to other traditional cooking appliances. Induction cooktops help cook food quicker than conventional ones. Moreover, they are usually built from glass or ceramic cooktops that are strong, durable, and very easy to clean. Induction cooktops can cook food even at low temperatures. Additionally, these induction cooktops come with a safety function feature and shut off automatically when the cooking vessel is not present on the top.
Induction Cooktops: Regional Outlook
In terms of geography, Europe holds a major market share in the global induction cooktops market. However, the Asia Pacific region is becoming a fast-growing region in the global induction cooktops market owing to rising disposable incomes and rapid urbanization that lead to an increase in sales of induction cooktops majorly in India and China.
Induction Cooktops: Market Participants
Examples of some of the market participants identified across the value chain of the global induction cooktops market include:
- Avantco Equipment
- Alluserv
- APW Wyott
- Eurodib
- Bajaj Electricals
- Inalsa
- Philips India
- Stovekraft
- TTK Prestige Ltd.
- Panasonic
- LG Electronics
- Haier Group
- Hatco
- Vollrath
- Waring
- Bon Chef
- Globe
- Cal-Mil
Induction cooktops manufacturers are focusing on improved quality products development with additional new features in order to increase their market share in the global induction cooktops market. Introduction of induction cooktops with multiple hot surfaces and advanced auto cook features are gaining traction in the market.
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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
By Segmentation:
Based on product type, the global induction cooktops market is segmented into the following:
- Free standing induction cooktops
- Integrated induction cooktops
Based on size, the global induction cooktops market is segmented into the following:
- Small
- Medium
- Large
Based on surface, the global induction cooktops market is segmented into the following:
- Flat surface
- Concave surface
Based on Power, the global induction cooktops market is segmented into the following:
- Less than 5 KW
- Between 5 KW- 10 KW
- More than 10 KW
Based on Distribution Channel, the global induction cooktops market is segmented into the following:
- Supermarkets
- Specialty Stores
- Online Stores
- Others
Based on application, the global induction cooktops market is segmented into the following:
- Household
- Commercial
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Induction Cooktops: Market Dynamics
Rapid urbanization and rising awareness among consumers to opt for energy efficient kitchen appliances with advanced safety features are the major driving factors for the induction cooktops market. In addition to that, induction cooktops are relatively safe than LPG cylinders because of the absence of open flames. Owing to the rising prices of conventional cooking fuel, people are choosing induction cooktops as an alternative option. Moreover, induction cooktops have become a part of lifestyle standards for healthy and safe cooking.
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