Press release
Global Smart Cooktop Industry Outlook 2025-2029: Market Set to Cross $2.83 Billion Milestone
Smart Cooktop Market
What Will the Smart Cooktop Industry Market Size Be by 2025?
In recent years, the smart cooktop market has seen rapid expansion. Projected growth indicates a surge from $1.79 billion in 2024 to $1.98 billion in 2025, showcasing a compound annual growth rate (CAGR) of 10.8%. This remarkable growth in the past can be attributed to factors such as technological advances, evolving consumer lifestyles, an increasing fascination with home automation, globalization, and market expansion.
What's the Long-Term Growth Forecast for the Smart Cooktop Market Size Through 2029?
In the upcoming years, the smart cooktop market is projected to witness robust growth, reaching $2.83 billion in 2029 with a compound annual growth rate (CAGR) of 9.3%. The growth during the forecast period is linked to improved safety features, customization and personalization options, and heightened consumer knowledge and consciousness. Key trends during the forecast period incorporate compatibility with smart home ecosystems, AI-enabled cooking help, flawless connection and remote control capabilities, as well as modular and adaptable design.
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What Are the Key Growth Drivers Fueling the Smart Cooktop Market Expansion?
The escalating interest in smart home integration is predicted to fuel the expansion of the smart cooktop industry. Smart home integration involves the use and connection of various devices within a home, enhancing control, efficiency, and comfort in different domestic spheres via automation and remote access. This adoption significantly improves the capabilities of smart cooktops by letting users remotely handle cooking procedures for improved efficiency and convenience. A study by Samsung Electronics Co. Ltd., based in South Korea, in June 2023, showed that 86% of UK homebuyers would take smart home facilities into consideration for their next property choice, and are even ready to pay an extra $21,685 (£18,000) for it. This study, coupled with an examination of Google search trends from March 2022 to March 2023, revealed a customer preference for smart technology along with a readiness to pay more for it. Remarkably, almost 40% of Gen Z buyers desire a smart home for their subsequent property. Hence, this thriving desire for smart home integration is catalyzing the surge of the smart cooktop industry.
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What Are the Key Trends Driving Smart Cooktop Market Growth?
Leading firms in the smart cooktop market are prioritizing the innovation of advanced solutions such as smart gas stoves to establish a competitive advantage. A smart gas stove, replete with advanced technology and connectivity options, endows users with superior control and monitoring facilities. A case in point is the Mijia Smart Gas Stove S2, launched by Xiaomi Corporation, a consumer electronics conglomerate, in December 2023. This innovative cooktop, a perfect amalgamation of a stylish design with state-of-the-art technology, incorporates smart functionality that effortlessly integrates into contemporary kitchens. The stove features a dual burner arrangement, placed on a chic, matte-tempered glass panel, akin to those employed in upscale induction cooktops. It boasts of a dual-flame system that ensures uniform heating for pots and pans, allowing accurate temperature control up to 230°C. With a timer adjustable from 1 minute to 3 hours, the stove automatically disables the gas supply once the set time lapses, thereby enhancing the safety and convenience factors.
How Is the Smart Cooktop Market Segmented?
The smart cooktopmarket covered in this report is segmented -
1) By Fuel Type: Electric, Gas
2) By Technology: Induction Cooktops, Radiant Cooktops, Gas Cooktops
3) By End-User: Residential, Commercial
4) By Distribution Channel: Online, Offline
Subsegments:
1) By Electric: Induction Cooktops, Radiant Cooktops, Ceramic Cooktops
2) By Gas: Natural Gas Cooktops, Propane Gas Cooktops
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Which Companies Are Leading the Charge in Smart Cooktop Market Innovation?
Major companies operating in the smart cooktop market are Samsung Electronics Co. Ltd., Siemens Home Appliances, LG Electronics Inc., Panasonic Corporation, Whirlpool Corporation, Bosch Home Appliances, Electrolux AB, Miele & Cie. KG, GE Appliances, Fisher & Paykel Appliances, Garland Commercial Industries LLC, KitchenAid Inc., Teka Group, Montague Company, Viking Range LLC, AGA Rangemaster Group Ltd., BlueStar Cooking, Dacor Inc., Smeg S.p.A., Hestan Commercial Corporation, Fulgor Milano, ILVE S.p.A., Kenmore Appliances, Bertazzoni S.p.A., La Cornue S.A., Wolf Appliances
Which Regions Are Leading the Global Smart Cooktop Market in Revenue?
North America was the largest region in the smart cooktop market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart cooktop market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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