Household Induction Cooktops Market - Global Industry Analysis

Household Induction Cooktops Market By Type (Built-In Induction Cooktops, Free-Standing Induction Cooktops), By Distribution Channel (Online, Specialty Stores), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Published Date: 10-May-2022 Category: Consumer Goods Report Format : PDF Pages: 169 Report Code: ZMR-3379 Status : Published

The global market size for household induction cooktops was worth about USD 11.63 million in 2021 and is predicted to increase to around USD 16.53 million by 2028, with a CAGR of around 5.5 percent throughout the projected period

Description

Industry Prospective:

The global market for household induction cooktops was worth about USD 11.63 million in 2021 and is predicted to increase to around USD 16.53 million by 2028, with a CAGR of around 5.5 percent. Throughout the projected period, the report analyses the market's drivers, limitations, and difficulties, as well as their influence on demand. In addition, the report examines new market opportunities for global household induction cooktops market.

Household Induction Cooktops Market: Overview

An induction cooktop warms food by transmitting currents from an electromagnetic field under the glass surface to magnetic induction cookware above it. It warms this cookware straight without the use of a burner or flame, unlike thermal conduction. An induction cooktop could indeed heat cookware quicker than almost any medium since it does not require a separate heating source. Induction cooking is an exceedingly efficient choice that allows the customer better management over the cooking than traditional options since it provides direct heat to cookware. Furthermore, because the heat is generated directly, the temperature is considerably more consistent than with gas or electric ranges.

COVID-19 Impact:

The persisting COVID-19 pandemic had an impact on the global market for household induction cooktops. Consumer electronics demand has been affected by the closure of firms and the cessation of economic activities. Furthermore, China, as one of the biggest manufacturers of electronic components and the hub of the viral spread, has caused supply chain and international trade disruptions, limiting market development. However, with normalization of day-to-day operations of the key players with ease in rules & regulations set by governments of different countries is expected to boost the market during the forecast period.

Global Household Induction Cooktops Market

Household Induction Cooktops Market: Growth Drivers

Growing demand for household induction cooktops to boost the market

The desire for household induction cooktops is strong among the metropolitan population, particularly in developing countries due to reasons such as a rise in the working population, improved infrastructure, and increased purchasing power. In addition to this, factors like the budding trend for modular kitchens and the growing fuel expenses for traditional gas cooktops, as well as the safety and comfort profits for consumers, are driving the global household induction cooktops market. Also, induction cooktops are currently popular among working women and the urban population due to their convenience of use. All these factors are ultimately leading to an increase in demand for household induction tops thereby fostering market growth. Moreover, an increase in sales of household induction cooktops through e-commerce platforms owing to huge discounts & convenience in its delivery as well as growing digitalization are some of the key aspects that are also fostering the market growth.

Household Induction Cooktops Market: Restraints

High costs associated with the induction cooktops to hinder the market growth

Although induction cooktops are becoming more affordable, they are still much more pricey than gas or ceramic cooktops. Thus, less inclination towards induction cooktops is extensively observed in countries with low and middle-income countries owing to less spending power and low disposable income. In addition to this, less penetration of the market in these countries is also one of the factors that is limiting the growth of the market.

Household Induction Cooktops Market: Opportunities

Technological advancement is boosting the market during the forecast period.

For generations, millions of homeowners and those who learned to cook over an open flame have preferred pro-style gas stoves, but that is progressively changing. Induction cooking is creeping closer to overtaking gas cooking in the next years. Manufacturers are emphasizing the advantages of connection in their products. Induction cooktops and vent hoods have recently been linked to smart sensor operations by numerous brands. Another perk is that if a cooktop is left unaccompanied or requires service, an alarm is sent to the owner's phone. In addition to this, natural gas's projected phase-out in residential construction in California by 2045 is not a certain fact, but it is a noticeable movement, and several golden state countries and cities are indeed enforcing limits on its usage in new houses. The influential California Air Resources Board is pushing for "better kitchen venting rules and electrification of equipment, such as space & water heaters, furnaces, ovens, and stoves in the 2022 code era for all new buildings," according to the journal. All such factors are expected to open new opportunities for the growth of the global household induction cooktops market during the forecast period.

Household Induction Cooktops Market: Challenges

Growing popularity of microwaves and ovens acts as a challenge to market growth

The rising popularity of microwaves and ovens is a critical aspect limiting product demand. Microwaves and ovens have a number of advantages over induction stoves, including time efficiency and convenience, which leads to customer demand. Steam ovens, on the other hand, have long been popular in professional settings and are now making inroads into the residential/household market. Steam ovens shorten cooking time while keeping the food's nutritional value. Steam cooking utilizes less energy due to the shorter cooking time. Many prominent cooking appliance manufacturers have recently added steam-cooking capabilities to their classic ovens and cookers/ranges. There is now a higher degree of interest among individuals who wish to experiment with steam cooking at home. Thus, the rising popularity of microwaves and ovens among the people may hamper the market growth.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Household Induction Cooktops Market: Segmentation

The global household induction cooktops market is categorized based on type, distribution channel, and region. Based on the type segment, the global market is split into free-standing induction cooktops and built-in induction cooktops. The distribution channel segment is categorized into specialty stores and online.

Recent Developments

  • In April 2022, Equator Appliances introduced two novel portable induction cooktops. The PIC 200N (dual-burner) and PIC 100 (single-burner) are portable devices that may be used both outdoors and indoors.
  • In April 2020, TTK Prestige, India's leading kitchen appliance company, introduced the PIC 31.0 revolutionary induction cooktop, which has a pre-set pressure cooking menu, a first in India.

Household Induction Cooktops Market: Regional Landscape

Europe to lead the market during the forecast period.

Among the regions, Europe is predicted to rule the global household induction cooktops market during the forecast period. On the other hand, Asia Pacific is expected to be the fastest-growing region of the market, trailed by North America. Customers in the region, particularly in India and China, are predicted to become more urbanized and have greater spending power, propelling the market forward. Moreover, the market expansion is also due to the changing lifestyle and rising tendency toward sophisticated appliances in this region.

Household Induction Cooktops Market: Competitive Landscape

Some of the prominent players that are operating in the global household induction cooktops include TTK PRESTIGE LIMITED, SUB-ZERO GROUP, INC., PANASONIC CORPORATION, LG ELECTRONICS INC., WHIRLPOOL CORPORATION, MIELE GROUP, ELECTROLUX GROUP, SMEG S.P.A, ROBERT BOSCH GMBH, And KONINKLIJKE PHILIPS N.V., among others.

Global household induction cooktops market is segmented as follows:

By Type

  • Built-In Induction Cooktops
  • Free-Standing Induction Cooktops

By Distribution Channel

  • Online
  • Specialty Stores

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Household Induction Cooktops Market, (2022 - 2028) (USD Million)
    • 2.2 Global Household Induction Cooktops Market : snapshot
  • Chapter 3. Global Household Induction Cooktops Market - Industry Analysis
    • 3.1 Household Induction Cooktops Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Growing demand for household induction cooktops to boost the market
    • 3.3 Market Restraints
      • 3.3.1. High costs associated with the induction cooktops to hinder the market growth
    • 3.4 Market Opportunities
      • 3.4.1. Technological advancement is boosting the market during the forecast period.
    • 3.5 Market Challenges
      • 3.5.1. Growing popularity of microwaves and ovens acts as a challenge to market growth
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Distribution Channel
  • Chapter 4. Global Household Induction Cooktops Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Household Induction Cooktops Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Household Induction Cooktops Market - Type Analysis
    • 5.1 Global Household Induction Cooktops Market overview: By Type
      • 5.1.1 Global Household Induction Cooktops Market share, By Type, 2021 and 2028
    • 5.2 Built-In Induction Cooktops
      • 5.2.1 Global Household Induction Cooktops Market by Built-In Induction Cooktops, 2022 - 2028 (USD Million)
    • 5.3 Free-Standing Induction Cooktops
      • 5.3.1 Global Household Induction Cooktops Market by Free-Standing Induction Cooktops, 2022 - 2028 (USD Million)
  • Chapter 6. Global Household Induction Cooktops Market - Distribution Channel Analysis
    • 6.1 Global Household Induction Cooktops Market overview: By Distribution Channel
      • 6.1.1 Global Household Induction Cooktops Market share, By Distribution Channel, 2021 and 2028
    • 6.2 Online
      • 6.2.1 Global Household Induction Cooktops Market by Online, 2022 - 2028 (USD Million)
    • 6.3 Specialty Stores
      • 6.3.1 Global Household Induction Cooktops Market by Specialty Stores, 2022 - 2028 (USD Million)
  • Chapter 7. Household Induction Cooktops Market - Regional Analysis
    • 7.1 Global Household Induction Cooktops Market Regional Overview
    • 7.2 Global Household Induction Cooktops Market Share, by Region, 2021 & 2028 (USD Million)
    • 7.3. North America
      • 7.3.1 North America Household Induction Cooktops Market, 2022 - 2028 (USD Million)
        • 7.3.1.1 North America Household Induction Cooktops Market, by Country, 2022 - 2028 (USD Million)
    • 7.4 North America Household Induction Cooktops Market, by Type, 2022 - 2028
      • 7.4.1 North America Household Induction Cooktops Market, by Type, 2022 - 2028 (USD Million)
    • 7.5 North America Household Induction Cooktops Market, by Distribution Channel, 2022 - 2028
      • 7.5.1 North America Household Induction Cooktops Market, by Distribution Channel, 2022 - 2028 (USD Million)
    • 7.4. Europe
      • 7.4.2 Europe Household Induction Cooktops Market, 2022 - 2028 (USD Million)
        • 7.4.2.1 Europe Household Induction Cooktops Market, by Country, 2022 - 2028 (USD Million)
    • 7.4 Europe Household Induction Cooktops Market, by Type, 2022 - 2028
      • 7.4.1 Europe Household Induction Cooktops Market, by Type, 2022 - 2028 (USD Million)
    • 7.5 Europe Household Induction Cooktops Market, by Distribution Channel, 2022 - 2028
      • 7.5.1 Europe Household Induction Cooktops Market, by Distribution Channel, 2022 - 2028 (USD Million)
    • 7.5. Asia Pacific
      • 7.5.3 Asia Pacific Household Induction Cooktops Market, 2022 - 2028 (USD Million)
        • 7.5.3.1 Asia Pacific Household Induction Cooktops Market, by Country, 2022 - 2028 (USD Million)
    • 7.4 Asia Pacific Household Induction Cooktops Market, by Type, 2022 - 2028
      • 7.4.1 Asia Pacific Household Induction Cooktops Market, by Type, 2022 - 2028 (USD Million)
    • 7.5 Asia Pacific Household Induction Cooktops Market, by Distribution Channel, 2022 - 2028
      • 7.5.1 Asia Pacific Household Induction Cooktops Market, by Distribution Channel, 2022 - 2028 (USD Million)
    • 7.6. Latin America
      • 7.6.4 Latin America Household Induction Cooktops Market, 2022 - 2028 (USD Million)
        • 7.6.4.1 Latin America Household Induction Cooktops Market, by Country, 2022 - 2028 (USD Million)
    • 7.4 Latin America Household Induction Cooktops Market, by Type, 2022 - 2028
      • 7.4.1 Latin America Household Induction Cooktops Market, by Type, 2022 - 2028 (USD Million)
    • 7.5 Latin America Household Induction Cooktops Market, by Distribution Channel, 2022 - 2028
      • 7.5.1 Latin America Household Induction Cooktops Market, by Distribution Channel, 2022 - 2028 (USD Million)
    • 7.7. The Middle-East and Africa
      • 7.7.5 The Middle-East and Africa Household Induction Cooktops Market, 2022 - 2028 (USD Million)
        • 7.7.5.1 The Middle-East and Africa Household Induction Cooktops Market, by Country, 2022 - 2028 (USD Million)
    • 7.4 The Middle-East and Africa Household Induction Cooktops Market, by Type, 2022 - 2028
      • 7.4.1 The Middle-East and Africa Household Induction Cooktops Market, by Type, 2022 - 2028 (USD Million)
    • 7.5 The Middle-East and Africa Household Induction Cooktops Market, by Distribution Channel, 2022 - 2028
      • 7.5.1 The Middle-East and Africa Household Induction Cooktops Market, by Distribution Channel, 2022 - 2028 (USD Million)
  • Chapter 8. Company Profiles
    • 8.1 TTK PRESTIGE LIMITED
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 SUB-ZERO GROUP Inc.
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 PANASONIC CORPORATION
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 LG ELECTRONICS INC.
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 WHIRLPOOL CORPORATION
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 MIELE GROUP
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 ELECTROLUX GROUP
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 SMEG S.P.A
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 ROBERT BOSCH GMBH
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 KONINKLIJKE PHILIPS N.V.
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments

Table Of Figures

  • 1. Market research Type
  • 2. Market research methodology
  • 3. Global Household Induction Cooktops Market, 2022 - 2028 (USD Million)
  • 4. Porter’s Five Forces Analysis
  • 5. Global Household Induction Cooktops Market attractiveness, By Type
  • 6. Global Household Induction Cooktops Market attractiveness, By Distribution Channel
  • 7. Global Household Induction Cooktops Market share by Type, 2022 and 2028 (USD Million)
  • 8. Global Household Induction Cooktops Market by Built-In Induction Cooktops, 2022 - 2028 (USD Million)
  • 9. Global Household Induction Cooktops Market by Free-Standing Induction Cooktops, 2022 - 2028 (USD Million)
  • 10. Global Household Induction Cooktops Market share by Distribution Channel, 2022 and 2028 (USD Million)
  • 11. Global Household Induction Cooktops Market by Online, 2022 - 2028 (USD Million)
  • 12. Global Household Induction Cooktops Market by Specialty Stores, 2022 - 2028 (USD Million)
  • 13. Global Household Induction Cooktops Market share, by Region, 2022 and 2028
  • 14. North America Household Induction Cooktops Market, 2022 - 2028 (USD Million)
  • 15. Europe Household Induction Cooktops Market, 2022 - 2028 (USD Million)
  • 16. Asia Pacific Household Induction Cooktops Market, 2022 - 2028 (USD Million)
  • 17. Latin America Household Induction Cooktops Market, 2022 - 2028 (USD Million)
  • 18. The Middle-East and Africa Household Induction Cooktops Market, 2022 - 2028 (USD Million)

Table Of Tables

  • 1. Global Household Induction Cooktops Market: Snapshot
  • 2. Drivers of the Household Induction Cooktops Market: impact analysis
  • 3. North America Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 4. North America Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 5. U.S. Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 6. U.S. Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 7. Canada Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 8. Canada Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 9. Europe Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 10. Europe Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 11. Germany Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 12. Germany Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 13. France Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 14. France Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 15. U.K. Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 16. U.K. Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 17. Italy Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 18. Italy Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 19. Spain Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 20. Spain Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 21. Rest of Europe Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 22. Rest of Europe Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 23. Asia Pacific Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 24. Asia Pacific Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 25. China Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 26. China Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 27. Japan Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 28. Japan Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 29. India Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 30. India Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 31. South Korea Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 32. South Korea Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 33. South-East Asia Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 34. South-East Asia Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 35. Rest of Asia Pacific Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 36. Rest of Asia Pacific Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 37. Latin America Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 38. Latin America Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 39. Brazil Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 40. Brazil Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 41. Mexico Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 42. Mexico Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 43. Rest of Latin America Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 44. Rest of Latin America Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 45. The Middle-East and Africa Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 46. The Middle-East and Africa Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 47. GCC Countries Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 48. GCC Countries Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 49. South Africa Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 50. South Africa Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)
  • 51. Rest of Middle-East Africa Household Induction Cooktops Market revenue, By Type, 2022 - 2028 (USD Million)
  • 52. Rest of Middle-East Africa Household Induction Cooktops Market revenue, By Distribution Channel, 2022 - 2028 (USD Million)

Methodology

Free Analysis

Induction cooktops work on electricity and are used for cooking food in an effortless and efficient manner. Induction cooktops have a fast and instant response to change in temperature setting. Cook-tops are praised for their superior cooking performance and designs. The key factor responsible for the market growth is increasing demand for the household induction cooktops especially among working women’s. Rising fuel prices are also responsible for increased use of induction cooktops among consumers which is expected to propel the household induction cooktops market over the forecast period. The induction cooktops market is anticipated to be driven by the growing modern lifestyle of the people. Induction cook-tops market will gain prominent growth due to increasing awareness among consumers about the smart kitchen appliances.

The household induction cooktops market will witness an extensive growth in the coming years. The household induction cooktops market is categorized on the factors such as type, size, and distribution channel. Based on the type, the household induction cooktops are classified into free-standing cooktops and integrated cooktops. Based on the size, the global household induction cooktops market is categorized into large, medium, and small sized. By distribution channel, the market is fragmented into online stores, specialty stores, supermarkets, and others. The market growth is mainly driven by the growing use of cooktops among working women, rising awareness about consumer products, a growing number of smaller households across the world. Therefore, the household induction cooktops market may gain more value share in the coming years. 

Global Household Induction Cooktops Market

By geography, the household induction cooktops market finds its market range in North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America region is expected to be the fastest growing region owing to the facts such as adoption of new innovative smart kitchen products which contributes more value share and also fuels the growth of the global household induction cook-tops market in the coming years. The rapid development in the food and beverage industry in emerging economies such as China and India increases the household induction cooktops adoption in certain regions over the coming period. 

The report includes detailed profiles of key players operating in the global household induction cooktops market such as Daewoo Electronics Corporation, LG Electronics, Philips Electronics, AB Electrolux, Stoves Appliance Company, Panasonic Corporation, Whirlpool Corporation, Haier Group, Sub-Zero Wolf, Videocon Industries Limited, Robert Bosch GmBH, Miele & Cie. Kg, and Fisher & Paykel Appliances Holdings Ltd. The thorough description of players includes parameters such as key developments, company overview, business strategy, and financial overview of the company. 

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FrequentlyAsked Questions

The desire for household induction cooktops is strong among the metropolitan population, particularly in developing countries due to reasons such as a rise in the working population, improved infrastructure, and increased purchasing power. In addition to this, factors like the budding trend for modular kitchens and the growing fuel expenses for traditional gas cooktops, as well as the safety and comfort profits for consumers, are driving the household induction cooktops market.

According to the Zion Market Research report, the global household induction cooktops market was worth about 11.63 (USD million) in 2021 and is predicted to grow to around 16.53 (USD million) by 2028, with a compound annual growth rate (CAGR) of around 5.5 percent.

Among the regions, Europe is predicted to rue the global household induction cooktops market during the forecast period. On the other hand, Asia Pacific is expected to be the fastest-growing region of the market, trailed by North America.

Some of the prominent players that are operating in the global household induction cooktops include TTK PRESTIGE LIMITED, SUB-ZERO GROUP, INC., PANASONIC CORPORATION, LG ELECTRONICS INC., WHIRLPOOL CORPORATION, MIELE GROUP, ELECTROLUX GROUP, SMEG S.P.A, ROBERT BOSCH GMBH, And KONINKLIJKE PHILIPS N.V., among others.

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