Induction Cooktops Market is Expected to be Worth US$ 47,950.59 Million 2032 | FMI

The Induction Cooktop Market is likely to hold the global market at a moderate CAGR of ~8.5% during the forecast period. The global market holds a forecasted revenue of ~US$ 20.8 Billion in 2022 and is likely to cross ~US$ 49.2 Billion by the end of 2032. The induction cooktop market is anticipated to show promising growth prospects during the forecast period, expanding the global induction cooktop market size.

Due to the fact that the cooking pan or vessel is heated by a magnetic field rather than by an electric heating element or flame, there is very little energy wasted by heating the air around the cooking pan or vessel, which makes the induction cooktop energy efficient. Induction cooktops typically have glass or tough, heat-resistant ceramic as their cooking surface material.

Additionally, they are frequently made of strong, long-lasting, and incredibly cleanable glass or ceramic cooktops. Food can be cooked on induction cooktops even at very low temperatures. These induction cooktops also have a safety feature that causes them to turn off automatically when no cooking vessel is placed on the top.

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Induction Cooktops: Regional Outlook

In terms of geography, Europe holds a major market share in the global induction cooktops market. However, 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 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 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.

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.

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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.

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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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