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Household Induction Cooktops Market by Type (Built-in and Free-standing & Portable), Mode of Sale (Retail and Online) and Geography- Global Opportunity Analysis and Industry Forecast, 2014-2022

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CO_171926
Pages: 120
Mar 2017 | 6379 Views
 
Author's : Preksha Verma
Tables: 35
Charts: 51
 

Household Induction Cooktops Market Overview:

Global household induction cooktops market size in 2015 was valued at $9,160 million growing at CAGR of 5.8% to reach $13,538 million by 2022. Household induction cooktops market has witness increased adoption owing to factors such as use of electromagnetic energy to directly heat pots and pans. Induction cooktops offer wide temperature range (80‐450°F) and different power level options to ensure precise temperature control.

The demand for household induction cooktops is high among the urban population especially in the developing nations, due to factors such as high purchasing power, better infrastructural facilities, and increase in working population. Rise in fuel prices for conventional gas cooktops and growth in trend for modular kitchens along with comfortable & safety benefits to the users are the major factors that drive the household induction cooktops market. Presently, induction cooktops are in high demand among working women and urban population, owing to ease of operations and benefits towards healthy cooking.

The household induction cooktops have witnessed rapid adoption in the recent years, owing to rise in demand for energy-efficient and time-saving cooking appliances. Moreover, the boom in demand for modular kitchens and implementation of stringent government regulations regarding energy saving contribute to the household induction cooktop market growth. In addition, increase in GDP along with growth in sales of household kitchen appliances further drives the household induction cooktops market growth. However, need for specialized cookware and high initial investment hamper the growth of household induction cooktops industry.

Advancements in online marketing and increase in use of digital media for product marketing are the key factors that contribute to the growth of the global household induction cooktops industry. Increase in adoption of technologically advanced and high-tech products is projected to contribute to the growth of e-commerce websites for kitchen appliances, thereby enhancing the market size for household induction cooktops market.

The global household induction cooktops market is segmented based on type, mode of sale, and geography. The built-in induction cooktops segment has a major share in the household induction cooktops industry, followed by free-standing & portable induction cooktops. The manufacturers focus on the quality and innovation in the product, owing to which the market is estimated to witness a surge in the demand for all the segments.

The key players profiled in the global household induction cooktops market report include LG Electronics, Inc., Whirlpool Corporation, Panasonic Corporation, Koninklijke Philips N.V., TTK Prestige Ltd, Sub-Zero Group, Inc., Electrolux Group, Robert Bosch GmbH, Miele Group, and SMEG S.p.A. Panasonic Corporation holds the highest market share among other players operating in the global household induction cooktops industry.

Segment Overview

The global household induction cooktops market is segmented based on product into free-standing & portable and built-in (integrated) cooktops. In 2015, built-in (integrated) induction cooktops was the highest revenue generating segment and is expected to dominate the market throughout the analysis period.

The mode of sale could either be retail or online sale, wherein retail mode includes brand outlets, franchise stores, departmental stores, and retail outlets. Most customers prefer the retail mode of sale while buying kitchen electronics. However, online mode of sale steadily gains momentum and is expected to grow at the highest CAGR of 7.6% during the forecast period.

Top Impacting Factors

Increase in health consciousness, technological advancements, rise in disposable income, energy-efficiency of the cooktop/ energy consumption, better safety features, need for specialized cookware, and adoption of smart household kitchen appliances majorly impact the global household induction cooktops market. Along with these factors, the global market also depends on consumer awareness and performance of induction cook-tops. All these factors collectively contribute towards the market growth, while some of them limit the market growth.

The below chart represents the impact of the drivers and restraints in the current scenario and their impact analysis during the forecast period.

Top Factors Impacting the Global Household Induction Cooktops Market

Factors Impacting the Global Household Induction Cooktops Market

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Disposable Income

Rise in industrialization and commercialization has increased working class population especially in the developing countries, such as India and China. This has increased the overall disposable income of the individuals. As per International Monetary Fund (IMF) GDP growth trend, the economic activities in advanced and developing economies is projected to grow at 3.6% in 2017 and is expected to maintain this trend during the forecast period. Therefore, the impact of economic improvement and GDP growth is expected to drive the global household induction cooktops market during the forecast period.

Increasing Health Consciousness

Growth in working class population paired with increase in trend of consumption of fast food have increased health consciousness among the customers. Nowadays, demand for induction cooktops that cook food easily with less oil content has increased, in turn positively affecting the induction cooktops market.

Inclination Towards Automation/technological Advancements

Automation and automatic operation of household kitchen appliances are in high demand among customer in the developing nations. Busy lifestyle and sophistication in daily life activities are the two key factors leading to adoption of automated induction cooktops. Rise in number of working professionals has led to time constraints for performing routine tasks, which has in turn increased the demand for induction cooktops. Owing to electromagnetic field technology, induction cooktops heat 50% faster than the traditional gas cooktops and allow instantaneous temperature changes as the power level is adjusted. The impact of this factor is expected to increase during the forecast period.

Untapped Asia-pacific and Lamea Markets

Asia-Pacific and LAMEA are the two important regions that hold immense growth potential for this market. Technological advancements and growth in awareness among consumers are the key factors that encourage consumers to shift from conventional cooking systems to induction hobs. The continuous improvement in standards of living in these regions has posed lucrative opportunities for market players to expand their foothold in the Asia-Pacific and LAMEA regions during the forecast period.

Cooking Efficiency

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The above graph represents the energy-efficiency of induction cooktops as compared to gas stoves. Induction cooktops are eco-friendly in nature and is 74% efficient at transferring and transforming the input energy to the pan placed on the surface of induction cooktops, compared to gas ranges, which are nearly 32% efficient.

Key Benefits

  • This report provides an in-depth analysis of the global household induction cooktops market to elucidate the potential investment pockets.
  • The current trends and future scenarios are outlined to determine the overall market potential and single out profitable trends to gain a stronger foothold in the market.
  • This report provides information regarding key drivers, restraints, and opportunities along with their detailed impact analysis.
  • Quantitative analysis of the current market trends and future estimations for 2014-2022 are provided to indicate the financial competency.
  • Porter’s Five Forces Model of the industry illustrate the potency of the buyers and suppliers.

Household Induction Cooktops Market Key Segments

By Product Type

  • Free standing & portable cooktops
  • Built-in cooktops

By Mode Of Sale

  • Retail
  • Online

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Spain
    • Germany
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Market Players

  • Whirlpool Corporation
  • SMEG S.p.A.
  • LG Electroncis, Inc.
  • Koninklijke Philips N.V.
  • TTK Prestige Ltd
  • Electrolux Group
  • Robert Bosch GmbH
  • Sub-Zero Group, Inc.
  • Panasonic Corporation
  • Miele Group

Other Companies Mentioned in the Report

  • Daewoo Electronics Corporation
  • Fisher & Paykel Appliances Holdings Ltd.
  • Stoves Appliance Company (Glen Dimplex Home Appliances Ltd.)
  • Videocon Industries Limited
  • Bajaj Electricals Ltd
  • Haier Group
  • Morphy Richards
  • Inalsa Appliances
  • Kenwood Limited
  • Butterfly Gandhimathi Appliances Limited
 

Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top impacting factors
3.2.2. Top winning strategies
3.2.3. Top investment pockets

3.3. PORTERS FIVE FORCES ANALYSIS

3.3.1. High bargaining power of suppliers
3.3.2. High bargaining power of buyers
3.3.3. Moderate threat of substitution
3.3.4. Moderate threat of new entrants
3.3.5. High competitive rivalry

3.4. MARKET SHARE ANALYSIS, 2015
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Growth in urban population
3.5.1.2. Improved economic conditions/growth in disposable income
3.5.1.3. Growth in online sales
3.5.1.4. Technological advancements
3.5.1.5. Improved safety
3.5.1.6. Government emphasis
3.5.1.7. Growth in real-estate industry

3.5.2. Restraints

3.5.2.1. Need for specialized cookware

3.5.3. Opportunities

3.5.3.1. Untapped Asia-Pacific and LAMEA markets

Chapter: 4 GLOBAL HOUSEHOLD INDUCTION COOKTOPS MARKET, BY PRODUCT TYPE

4.1. OVERVIEW

4.1.1. Market size and forecast

4.2. BUILT-IN INDUCTION COOKTOPS

4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast

4.3. FREE-STANDING & PORTABLE INDUCTION COOKTOPS

4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast

Chapter: 5 HOUSEHOLD INDUCTION COOKTOPS MARKET, BY MODE OF SALE

5.1. OVERVIEW

5.1.1. Market size and forecast

5.2. RETAIL

5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast

5.3. ONLINE

5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast

Chapter: 6 HOUSEHOLD INDUCTION COOKTOPS MARKET, BY GEOGRAPHY

6.1. OVERVIEW
6.2. NORTH AMERICA

6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast

6.2.3.1. U.S.
6.2.3.2. Canada
6.2.3.3. Mexico

6.3. EUROPE

6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast

6.3.3.1. United Kingdom
6.3.3.2. Spain
6.3.3.3. France
6.3.3.4. Germany
6.3.3.5. Rest of Europe

6.4. ASIA-PACIFIC

6.4.1. Key market trends
6.4.2. Key growth factors and opportunities
6.4.3. Market size and forecast

6.4.3.1. China
6.4.3.2. Japan
6.4.3.3. India
6.4.3.4. Australia
6.4.3.5. Rest of Asia-Pacific

6.5. LAMEA

6.5.1. Key market trends
6.5.2. Key growth factors and opportunities
6.5.3. Market size and forecast

6.5.3.1. Latin America
6.5.3.2. Middle East
6.5.3.3. Africa

Chapter: 7 COMPANY PROFILES

7.1. WHIRLPOOL CORPORATION

7.1.1. Company overview
7.1.2. Business performance
7.1.3. Operating business segments
7.1.4. Key strategic moves & developments

7.2. LG ELECTRONICS INC.

7.2.1. Company overview
7.2.2. Business performance
7.2.3. Operating business segments
7.2.4. Key strategic moves & developments

7.3. PANASONIC CORPORATION

7.3.1. Company overview
7.3.2. Business performance
7.3.3. Operating business segments
7.3.4. Key strategic moves & developments

7.4. SUB-ZERO GROUP, INC.

7.4.1. Company overview
7.4.2. Operating business segments
7.4.3. Key strategic moves & developments

7.5. TTK PRESTIGE LIMITED

7.5.1. Company overview
7.5.2. Business performance
7.5.3. Operating business segments
7.5.4. Key strategic moves & developments

7.6. KONINKLIJKE PHILIPS N.V.

7.6.1. Company overview
7.6.2. Business performance
7.6.3. Operating business segments
7.6.4. Key strategic moves & developments

7.7. ROBERT BOSCH GMBH

7.7.1. Company overview
7.7.2. Business performance
7.7.3. Operating business segments
7.7.4. Strategic moves and developments

7.8. SMEG S.P.A

7.8.1. Company overview
7.8.2. Operating business segments
7.8.3. Key strategic moves & developments

7.9. ELECTROLUX GROUP

7.9.1. Company overview
7.9.2. Business performance
7.9.3. Operating business segments
7.9.4. Key strategic moves & developments

7.10. MIELE GROUP

7.10.1. Company overview
7.10.2. Business performance
7.10.3. Operating business segments
7.10.4. Key strategic moves & developments

LIST OF TABLES

TABLE 1. GLOBAL HOUSEHOLD INDUCTION COOKTOPS MARKET, BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 2. BUILT-IN HOUSEHOLD INDUCTION COOKTOPS MARKET, BY REGION, 2014-2022 ($MILLION)
TABLE 3. FREE-STANDING & PORTABLE HOUSEHOLD INDUCTION COOKTOPS MARKET, BY REGION, 2014-2022 ($MILLION)
TABLE 4. HOUSEHOLD INDUCTION COOKTOPS MARKET, BY MODE OF SALE, 2014-2022 ($MILLION)
TABLE 5. HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE FROM RETAIL MODE OF SALES, BY REGION, 2014-2022 ($MILLION)
TABLE 6. HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE FROM ONLINE MODE OF SALES, BY REGION, 2014-2022 ($MILLION)
TABLE 7. GLOBAL HOUSEHOLD INDUCTION COOKTOPS MARKET, BY REGION, 2014-2022 ($MILLION)
TABLE 8. NORTH AMERICAN HOUSEHOLD INDUCTION COOKTOPS MARKET, REVENUE, BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 9. NORTH AMERICAN HOUSEHOLD INDUCTION COOKTOPS MARKET, REVENUE, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 10. EUROPE HOUSEHOLD INDUCTION COOKTOPS MARKET, REVENUE, BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 11. EUROPE HOUSEHOLD INDUCTION COOKTOPS MARKET, REVENUE, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 12. ASIA-PACIFIC HOUSEHOLD INDUCTION COOKTOPS MARKET, REVENUE, BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 13. ASIA-PACIFIC HOUSEHOLD INDUCTION COOKTOPS MARKET, REVENUE, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 14. LAMEA HOUSEHOLD INDUCTION COOKTOPS MARKET, REVENUE, BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 15. LAMEA HOUSEHOLD INDUCTION COOKTOPS MARKET, REVENUE, BY REGION, 2014-2022 ($MILLION)
TABLE 16. WHIRLPOOL CORPORATION: COMPANY SNAPSHOT
TABLE 17. WHIRLPOOL CORPORATION: OPERATING SEGMENTS
TABLE 18. LG ELECTRONICS INC. : COMPANY SNAPSHOT
TABLE 19. LG ELECTRONICS INC.: OPERATING SEGMENTS
TABLE 20. PANASONIC CORPORATION: COMPANY SNAPSHOT
TABLE 21. PANASONIC CORPORATION: OPERATING SEGMENTS
TABLE 22. SUB-ZERO GROUP, INC.: COMPANY SNAPSHOT
TABLE 23. SUB-ZERO GROUP, INC.: OPERATING SEGMENTS
TABLE 24. TTK PRESTIGE LIMITED: COMPANY SNAPSHOT
TABLE 25. TTK PRESTIGE LIMITED: OPERATING SEGMENTS
TABLE 26. KONINKLIJKE PHILIPS N.V.: COMPANY SNAPSHOT
TABLE 27. KONINKLIJKE PHILIPS N.V: OPERATING SEGMENTS
TABLE 28. ROBERT BOSCH GMBH: COMPANY SNAPSHOT
TABLE 29. ROBERT BOSCH GMBH: OPERATING SEGMENTS
TABLE 30. SMEG S.P.A.: COMPANY SNAPSHOT
TABLE 31. SMEG S.P.A.: OPERATING SEGMENTS
TABLE 32. ELECTROLUX GROUP: COMPANY SNAPSHOT
TABLE 33. ELECTROLUX GROUP: OPERATING SEGMENTS
TABLE 34. MIELE GROUP: COMPANY SNAPSHOT
TABLE 35. MIELE GROUP: OPERATING SEGMENTS

LIST OF FIGURES

FIGURE 1. HOUSEHOLD INDUCTION COOKTOPS MARKET SEGMENTATION
FIGURE 2. TOP IMPACTING FACTORS OF HOUSEHOLD INDUCTION COOKTOPS MARKET
FIGURE 3. TOP WINNING STRATEGY ANALYSIS
FIGURE 4. TOP INVESTMENT POCKETS
FIGURE 5. GLOBAL HOUSEHOLD INDUCTION COOKTOPS MARKET SHARE ANALYSIS (%)
FIGURE 6. HOUSEHOLD INDUCTION COOKTOPS MARKET, BY PRODUCT TYPE, 2015 (%)
FIGURE 7. BUILT-IN HOUSEHOLD INDUCTION COOKTOPS MARKET, REVENUE, 2014-2022 ($MILLION)
FIGURE 8. HOUSEHOLD INDUCTION COOKTOPS MARKET SHARE FROM BUILT-IN INDUCTION COOKTOPS, BY REGION, 2014-2022 (%)
FIGURE 9. FREE-STANDING & PORTABLE HOUSEHOLD INDUCTION COOKTOPS MARKET, REVENUE, 2014-2022 ($MILLION)
FIGURE 10. HOUSEHOLD INDUCTION COOKTOPS MARKET SHARE FROM FREE-STANDING & PORTABLE INDUCTION COOKTOPS, BY REGION, 2014-2022 (%)
FIGURE 11. GLOBAL HOUSEHOLD INDUCTION COOKTOPS MARKET, BY MODE OF SALE, 2015 (%)
FIGURE 12. HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE FROM RETAIL MODE OF SALES, 2014-2022 ($MILLION)
FIGURE 13. HOUSEHOLD INDUCTION COOKTOPS MARKET FROM RETAIL MODE OF SALES, BY REGION, 2014-2022 (%)
FIGURE 14. HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE FROM ONLINE MODE OF SALES, 2014-2022 ($MILLION)
FIGURE 15. HOUSEHOLD INDUCTION COOKTOPS MARKET FROM ONLINE MODE OF SALES, BY REGION, 2014-2022 (%)
FIGURE 16. HOUSEHOLD INDUCTION COOKTOPS MARKET SHARE, BY REGION, 2015 (%)
FIGURE 17. NORTH AMERICA HOUSEHOLD INDUCTION COOKTOPS MARKET OVERVIEW
FIGURE 18. U.S. HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 19. CANADA HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 20. MEXICO HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 21. EUROPE HOUSEHOLD INDUCTION COOKTOPS MARKET OVERVIEW
FIGURE 22. UNITED KINGDOM HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 23. SPAIN HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 24. FRANCE HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 25. GERMANY HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 26. REST OF EUROPE HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 27. ASIA-PACIFIC HOUSEHOLD INDUCTION COOKTOPS MARKET OVERVIEW
FIGURE 28. CHINA HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 29. JAPAN HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 30. INDIA HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 31. AUSTRALIA HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 32. REST OF ASIA-PACIFIC HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 33. LAMEA HOUSEHOLD INDUCTION COOKTOPS MARKET OVERVIEW
FIGURE 34. LATIN AMERICA HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 35. MIDDLE EAST HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 36. AFRICA HOUSEHOLD INDUCTION COOKTOPS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 37. WHIRLPOOL CORPORATION: REVENUE, 2013-2015 ($MILLION)
FIGURE 38. WHIRLPOOL CORPORATION: REVENUE, BY GEOGRAPHY, 2015 (%)
FIGURE 39. LG ELECTRONICS INC.: REVENUE, 2013-2015 ($MILLION)
FIGURE 40. PANASONIC CORPORATION.: REVENUE, 2013-2015 ($MILLION)
FIGURE 41. PANASONIC CORPORATION.: REVENUE BY OPERATING SEGMENTS, 2015 (%)
FIGURE 42. TTK PRESTIGE LIMITED: REVENUE, 2013-2015 ($MILLION)
FIGURE 43. KONINKLIJKE PHILIPS N.V.: REVENUE, 2013-2015 ($MILLION)
FIGURE 44. KONINKLIJKE PHILIPS N.V.: REVENUE BY OPERATING SEGMENTS, 2015 (%)
FIGURE 45. KONINKLIJKE PHILIPS N.V.: REVENUE BY GEOGRAPHY, 2015 (%)
FIGURE 46. ROBERT BOSCH GMBH: REVENUE, 2013-2015 ($MILLION)
FIGURE 47. ROBERT BOSCH GMBH: REVENUE BY BUSINESS SEGMENTS, 2015 (%)
FIGURE 48. ELECTROLUX GROUP: REVENUE, 2013-2015 ($MILLION)
FIGURE 49. ELECTROLUX GROUP: REVENUE BY OPERATING SEGMENT, 2015 (%)
FIGURE 50. ELECTROLUX GROUP: REVENUE BY GEOGRAPHY, 2013-2015 (%)
FIGURE 51. MIELE GROUP: REVENUE, 2013-2015 ($MILLION)

 

Household induction cooktops works on electromagnetism, which is used to heat the pan placed on the cooktop. These cooktops offer energy efficient cooking solutions to the consumers. The household induction cooktops market is segmented into built-in (integrated) induction cooktops and free-standing & portable induction cooktops. The built-in induction cooktops are utilized by the large houses where there is ample kitchen space and modular kitchen designs can be supported. Household induction cooktops are convenient and safe to use as they don’t have open flames. The improvement in living standards, rise in per capita income, and widespread adoption of electronic kitchen appliances by consumers are expected to boost the growth of the household induction cooktops. For instance, in January 2017, Usha International, one of India’s leading consumer durables company, launched Usha Induction cooktop IC 3616 in its induction cooktops range. This cooktop is equipped with pan sensor technology wherein the process of heating will start only when the cooktop detects the utensil. This also prevents overheating by automatic switch, of the appliance, to power saving mode.

Need for specialized cookware for induction cooktops and low awareness among the people in developing countries regarding the benefits of the induction cooktops is likely to hamper the growth of household induction cooktops industry. However, advancements in design of induction cooktops and rise in prices of fuel such as LPG & gas and increased performance of induction cooktops are expected to boost the market growth. Leading players have collaborated with other companies to expand their product portfolios and increase their presence in terms of outreach and customer base.

Europe is the leading revenue contributor to the global household induction cooktops market, owing to increase in demand for electrical kitchen appliances from European consumers and high purchasing power of the consumers. In the near future, the Asia-Pacific region is expected to witness rapid growth, owing to the significant adoption of efficient cooking solutions and increase in product offerings from local as well as international brands and economic development among various countries in the region such as India, China, Singapore, and Australia.

 

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