Induction Cooker Depth Market 2017 - Industry Survey, Market Size, Competitive Trends, Outlook and Forecasts 2022

An induction cooker also known as electric stove or induction cooktops is a device used for cooking and baking that has an interspersed electrical heating. Wood or coal stoves that needed additional labor to function and preserve were replaced by these induction cooktops, hence they gained popularity in the market thereafter. Certain modern stoves are available with an extractor hood which is built-in.

A rotary switch is commonly used to control electric burners with a fixed number of positions where each of them have different power of heating, resistances and combinations or might have a simmerstat also called “infinite switch”. Certain electric burners have thermostats.

Factors like expense of electricity in comparison with wood or coal, electric supply companies providing limited power or heating elements having low shelf life affected electric stoves in the earlier times making them incompetent and inadequate. The durability and the cost of heating elements have been enhanced since the introduction of nichrome alloy. Presentation of cooking using the electric stove was famous as theywere marketed along with various utilities of household in order to increase the electric power demand at the time of rural electrification.

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The Global and United States induction cooker market was worth $9,160 million in 2015 and is said to grow at a significant rate by 2022. The induction cooker market has observed increase in implementation due factors like using electromagnet energy to directly heat vessels. The induction cook tops provide temperature range of 80-450°F and various options for power level to guarantee definite control of temperature.

The working population in the developing nations majorly demands the household induction cook top as it provides benefits with healthy cooking, convenience for working women, safety and cost cutting. Increase in health consciousness among the population, demand for specialized cookware, enhanced safety features, improved technology, suitable amount of consumption of energy and implementation of smart appliances for kitchen and household are factors that impact the growth of the market.

A busy lifestyle and demand of sophistication also accelerates the rate of implementation of the induction cook tops. In the working class industrialization and commercialization has expanded and has also increased the rise in disposable income in countries like China and India. Specialty stores, cash and carry stores, supermarkets and hypermarkets are the major outlets in the market for retail and held around 55% of the market share overall in 2015. These stores provide consumers with alluring offers.

The key market vendors of the induction cooker market are Panasonic, Whirlpool, Sunflame Enterprises, Stovekraft,Kenwood, Khaitan Electrical, AB Electrolux, Miele, Sub-Zero Wolf, Glen Appliances, Usha International, Dongbu Daewoo Electronics, Inalsa, Haier Electronics, Videocon Industries,Jaipan Industries, Fisher & Paykel and Crompton Greaves.

Geographically, the market is segmented into regions that possess great potential for this market is Asia-Pacific has the fastest growing market for induction cooktops, LAMEA and the Europe region having the biggest market for induction cooktops. Based on the material of the cookware, this market industry is segmented into Stainless Steel, Multi-Ply, Aluminum, Hard-Anodized Aluminum, Cast Iron, Ceramic, and glass.

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