Induction Cooktops Market Intelligence Report Offers Growth Prospects 2017 – 2027
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There are numerous advantages of using induction cooktops. Firstly, they are more energy efficient appliances (around 90 percent) when compared to other traditional cooking appliances. Induction cooktops help cook food quicker than conventional ones. Moreover, they are usually built from glass or ceramic cooktops that are strong, durable and very easy to clean. Induction cooktops can cook food even at low temperatures. Additionally, these induction cooktops come with a safety function feature and shut off automatically when cooking vessel is not present on the top.
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.
However, cost is the major restraint for induction cooktops market as they are two to three times more expensive than an ordinary gas or electric cooktop. Moreover, induction cooktops can work properly with cooking vessel made up from cast iron or steel. Aluminium, copper pans and glass cookware do not work on induction cooktops, which is also a restraint to the market growth.
Induction Cooktops: Market Segmentation
Based on product type, the global induction cooktops market is segmented into the following:
Free standing induction cooktops
Integrated induction cooktops
Based on size, the global induction cooktops market is segmented into the following:
Based on surface, the global induction cooktops market is segmented into the following:
Based on Power, the global induction cooktops market is segmented into the following:
Less than 5 KW
Between 5 KW- 10 KW
More than 10 KW
Based on Distribution Channel, the global induction cooktops market is segmented into the following:
Based on application, the global induction cooktops market is segmented into the following:
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:
TTK Prestige Ltd.
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.
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