Middle East & Africa Induction Cooktop Market Outlook, 2028

Middle East & Africa Induction Cooktop Market Outlook, 2028

Inductions Electromagnetism is used in cooktops to provide clients with energy-efficient options. Induction Cooktops, unlike all other types of cooktops on the market, directly heat the pan rather than the hob ring. When an induction hob is turned on, a magnetic field beneath its surface is activated. When a pan is placed on the stove, the circuit is completed by heating the pan's base. Induction cooking is thus quick and efficient. The ring, pan, and food are all warmed by the other burners. In contrast, induction eliminates the process. Induction cooking is the most efficient method on the market. Because it moves faster than gas, it can even outperform a kettle when it comes to heating water. Several advancements strengthened the business, such as kitchen appliance makers upgrading out-of-date mechanical controls and displays to save after-sales costs. Furthermore, due to rising demand for environmentally friendly appliances and increased access to electricity, the market graph is expected to rise significantly throughout the forecast period. Additionally, rising demand for modular kitchens is likely to support induction hob demand. The benefits of induction hobs, such as their speed, responsiveness, energy efficiency, and ease of use, have significantly fuelled market growth. When compared to typical electric cooktops, induction cooking has a potential energy savings of 5% to 20%, and it has an energy savings of more than 65% when compared to gas.

According to the research report, Middle East & Africa Induction Cooktop Market Outlook, 2028, published by Bonafide Research, the market is anticipated to add USD 774.25 Million from 2023 to 2028. One of the most appealing aspects of induction cooktops is their low energy consumption. When compared to electric and gas cooktops, induction cooktops are one of the most energy-efficient appliances since the energy consumed is transferred to the meal. Buyers will enjoy that these cooktops consume less energy, which is better for the environment and may result in cheaper utility bills. When it comes to homes, more potential buyers prioritise energy efficiency, with buyers finding it to be a highly desired characteristic. As a result, moving from LPG to induction stoves could be one of the policy steps implemented by governments around the world to achieve energy sustainability and reduce carbon emissions. Several technical advancements will drive market expansion, such as kitchen appliance manufacturers replacing old mechanical controls and displays with touch technology to reduce dependability and after-sales expenses. Touch screens with large pictures are also becoming more popular. Because of constantly changing work and family routines, a larger desire for eco-friendly items, and more affordable electrical accessibility, consumers are expected to purchase technology-driven kitchen devices.

The market has been divided into two categories based on product type: built-in and free-standing. In terms of value, the Built-In category is leading the market with a share of more than 54% in 2022. While freestanding is expected to grow faster during forecast period at a CAGR of more than 10%. The industry is being driven by an increase in the number of residential and commercial development projects. More chefs and manufacturers are promoting induction to construction professionals and customers because to the inherent benefits of the technology. The market has been divided into two sections based on application: residential and commercial. The residential sector will lead the Middle East & Africa market in 2022, with a market share of 63.50%. With numerous new home construction projects underway, demand for induction cooktops is projected to increase. The market has already benefited from the gradual shift away from gas cooktops, and an increasing number of consumers are interested in installing induction cooktops in their homes or large-scale residential projects. This is because people are becoming more aware of its advantages over gas cooktops. The commercial sector is expected to grow at a faster rate, with a CAGR of more than 8% over the projection period. Non-residential facilities like restaurants and hotels also make extensive use of induction cooktops.

In terms of Distribution Channel, the specialty stores segment had the largest revenue share of more than 63% in 2022. Between 2023 and 2028, the internet category is predicted to grow at the fastest CAGR of 12.90%. The Middle East & Africa market for induction cooktops is expanding as a consequence of developments in internet marketing and an increase in the usage of digital media for product promotion. Increased acceptance of technologically innovative and high-tech commodities is expected to promote the growth of kitchen appliance e-commerce websites, hence increasing the market for induction cooktops.

Major Companies present in the market:
Electrolux AB, Robert Bosch GmbH, LG Electronics, Inc., Panasonic Corporation, Midea Group, Whirlpool Corporation, Koninklijke, Philips N.V., Miele, Sub-Zero Group, Inc., Smeg S.p.A, Samsung Electronics Co. Ltd, Stovekraft

Considered in this report
• Geography: Middle East & Africa
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Middle East & Africa Induction Cooktop market with its value and forecast along with its segments
• Country-wise Induction Cooktop market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:
• Saudi Arabia
• UAE
• South Africa

By Product Type:
• Built-In
• Freestanding

By Application:
• Residential
• Commercial

By Distribution Channel:
• Specialty Store
• Hypermarkets & Supermarkets
• Online

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Induction Cooktop industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.