Induction Cooktop Market 2022-2028

Description

List of Tables

Title:Global Induction Cooktop Market Size, Share & Trends Analysis Report by Type (Built-In and Free-Standing), by Application (Household and Commercial), and by Distribution Channel (Online and Offline) Forecast 2022-2028.

The global induction cooktop market is anticipated to grow at a substantial CAGR of 9.1% during the forecast period. One of the major factors that are fueling the market is the portability and affordability of the induction cooktop. It can be easily carried in a bag which cannot be possible with a gas cooktop which requires a cylinder as well. The induction cooktop is affordable as compared to the other since it requires less electricity as compared to electric cooktops, and causes less electric bill as compared to gas or electric cooktop. This has interested consumers to purchase the product and raised the market.

The global induction cooktop market is segmented based on the type, application, and distribution channel. Based on the type, the market is segmented into built-in and free-standing. Based on the application, the market is sub-segmented into the household, and commercial. Based on the distribution channel, the market is segmented into online and offline. Based on application, household induction cooktop holds the major share in the market owing to the larger number of households as compared to the hotel, restaurants, and food shops. Moreover, hotels and restaurants use different tools, utensils, and devices for cooking which restrict the use of induction cooktop since it can work on particular materials utensils such as cast iron, and stainless steel due to their magnetic properties.

Geographically market is segmented into: North America, Europe, Asia Pacific, and the Rest of the World. Europe is anticipated to grow significantly during the forecast period owing to the presence of developed countries such as Germany, the UK, Italy Spain, and more. These countries are technologically well advanced and have the presence of major market players such as whirlpool, and others which are advancing technologies to drive the market.

The major companies serving the global induction cooktop market include AB Electrolux, LG Electronics Inc., Philips International B.V., SMEG S.p.A., Whirlpool Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2021, Whirlpool of India entered into a share purchase agreement Elica S.p.A. for acquiring an additional stake for $57 million in kitchen appliance maker Elica PB India. Elica PB India is an Indian arm of Italy's Elica S.p.A. that manufactures induction hobs, boilers, kitchen hoods, and chimneys.

Research Methodology

The market study of the global induction cooktop market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

Financial reports of companies involved in the market.

Whitepapers, research papers, and news blogs.

Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

Global Induction Cooktop Market Research and Analysis by Type.
Global Induction Cooktop Market Research and Analysis by Application.
Global Induction Cooktop Market Research and Analysis by Distribution Channel.

The Report Covers:

Comprehensive research methodology of the global induction cooktop market.
This report also includes a detailed and extensive market overview with key analyst insights.
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global induction cooktop market.
Insights about market determinants that are stimulating the global induction cooktop market.
Detailed and extensive market segments with the regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.

Product Code: OMR2026897

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
Impact of COVID-19 on the Global Induction Cooktop Market
Recovery Scenario of Global Induction Cooktop Market
1.1. Research Methods and Tools
1.2. Market Breakdown
- 1.2.1. By Segments
- 1.2.2. BY Region

2. Market Overview and Insights

2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Findings
- 2.2.2. Recommendations
- 2.2.3. Conclusion

3. Competitive Landscape

3.1. Key Company Analysis
- 3.1.1. Electrolux AB
  - 3.1.1.1. Overview
  - 3.1.1.2. Financial Analysis
  - 3.1.1.3. SWOT Analysis
  - 3.1.1.4. Recent Developments
- 3.1.2. LG Electronics Inc.
  - 3.1.2.1. Overview
  - 3.1.2.2. Financial Analysis
  - 3.1.2.3. SWOT Analysis
  - 3.1.2.4. Recent Developments
- 3.1.3. Philips International B.V.
  - 3.1.3.1. Overview
  - 3.1.3.2. Financial Analysis
  - 3.1.3.3. SWOT Analysis
  - 3.1.3.4. Recent Developments
- 3.1.4. SMEG S.p.A.
  - 3.1.4.1. Overview
  - 3.1.4.2. Financial Analysis
  - 3.1.4.3. SWOT Analysis
  - 3.1.4.4. Recent Developments
- 3.1.5. The Whirlpool Corp.
  - 3.1.5.1. Overview
  - 3.1.5.2. Financial Analysis
  - 3.1.5.3. SWOT Analysis
  - 3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid-19 on Key Players

4. Market Segmentation

4.1. Global Induction Cooktop Market by Type
- 4.1.1. Built-In
- 4.1.2. Free-Standing
4.2. Global Induction Cooktop Market by Application
- 4.2.1. Household
- 4.2.2. Commercial
4.3. Global Induction Cooktop Market by Distribution Channel
- 4.3.1. Online
- 4.3.2. Offline

5. Regional Analysis

5.1. North America
- 5.1.1. US
- 5.1.2. Canada
5.2. Europe
- 5.2.1. UK
- 5.2.2. Germany
- 5.2.3. Italy
- 5.2.4. Spain
- 5.2.5. France
- 5.2.6. Rest of Europe
5.3. Asia-Pacific
- 5.3.1. China
- 5.3.2. India
- 5.3.3. Japan
- 5.3.4. South Korea
- 5.3.5. Rest of Asia-Pacific
5.4. Rest of the World

6. Company Profiles

6.1. Bajaj Electricals Ltd.
6.2. Butterfly Gandhimathi Appliances Ltd.
6.3. De'Longhi Group (Kenwood)
6.4. Fisher & Paykel (Singapore) Pte Ltd.
6.5. Glen Appliances Pvt. Ltd.
6.6. Miele India Pvt. Ltd.
6.7. Morphy Richards India
6.8. Robert Bosch GmbH
6.9. Stovekraft Ltd.
6.10. Sub Zero Wolf
6.11. TTK Prestige Ltd.
6.12. Tuareg Marketing Pvt. Ltd. (INALSA)