Global Household Induction Cook-tops Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Household Induction Cook-tops Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The induction cooktop is a type of kitchen appliance which uses the technology of electromagnetic field to transfer the heat directly to the metal cookware that is made of ferrous metals. Induction cookouts automatically shut off when the cookware is not present on top of its, making it safer to use as well as energy-efficient as compared to conventional cooktops. While using induction cooktops, only the pan becomes hot while the outer cooktop stays cool, providing another great safety feature, especially to households with young children. Also, induction cooktops take lesser time to cook food as compared to other types of cooktop. Furthermore, the induction cooktop is safer than the gas cooktop due to the absence of open flames as in the case of gas cooktops which is also leading their growing popularity among consumers. The household induction cook-tops also known as hobs and are able to provide better thermal efficiency, faster pan heating by electromagnetic field. These induction cooktops are safe and comfortable to use and also easy to clean due to its safety features, smooth and flat cooking surface. The induction cooktop generates heat energy under surface of the pan which helps to cook food efficiently and quickly. Also, the advanced induction cooktops help to save cooking time and are energy efficient.

Market Overview:

The latest research study on the global Household Induction Cook-tops market finds that the global Household Induction Cook-tops market reached a value of USD 4475.51 million in 2022. It’s expected that the market will achieve USD 6042.09 million by 2028, exhibiting a CAGR of 5.13% during the forecast period.

Inherent advantages of product

Increase in tech-savvy population, rise in per capita income, escalating number of smaller households, and optimized cooking are some of the drivers of the global household induction cooktops market. In addition, innovation in conventional gas cook-tops is expected to boost the demand for eco-friendly & energy-efficient induction cooktops. Increasing awareness about safety has been attracting consumers all over the world to procure advanced cooking appliances. The technology of these cooktops generate an electromagnetic field and transfer heat directly to the metal cookware that is made of ferrous metals such as steel and iron. Generally, the surface of the product is made up of strong heat resistant glass or ceramic. As a result, the entire surface and the air surrounding the vessel does not get heated while cooking. Furthermore, these products automatically shut off when cookware is not present on the top. These features make the products safer and more energy efficient as compared to the conventional cooktop.

Strict regulations

As electrical furniture, induction cooker needs to be supervised in production in various countries, otherwise quality problems may lead to user life safety and health. The production of induction cooker basically implements comprehensive quality management with strict quality inspection standards and inspection methods, including incoming material quantity control (IQC), production line 100% quality control (PQC), quality control (QA) and so on. Each country has its own quality certification standards, such as UL in the United States, CSA in Canada, GS in Germany, VDE, SAA in Australia, SISETR in Singapore, SHARK in Japan and 3C in China, etc.

In addition, the production of induction cooker mainly includes injection molding and assembly. The production process mainly produces injection waste gas and pulverizer particles. The solid waste is mainly waste plastic. As well as the waste water discharged from the production process, these are the main environmental impacts. In Europe and the United States, there are strict requirements for factory sewage discharge. In Asia, these requirements are gradually becoming stricter, while in the Middle East, Africa, Latin America and other places, standards are still being gradually established.

Region Overview:

In global comparison, a significant portion of the revenue was generated in Asia Pacific (39.18% in 2022).

Company Overview:

Midea is one of the major players operating in the Household Induction Cook-tops market, holding a share of 9.51% in 2023.

Midea

Midea Group Co. Ltd. manufactures, markets and installs household electrical appliances, compressors and components. Midea also provides services in information technology, corporate investment consultation, software and hardware development, property management and corporate engineering supports.

Whirlpool

Whirlpool Corporation manufactures and markets major home appliances. The Company provides principal products include laundry appliances, refrigeration, room air conditioning equipment, cooking appliances, dishwashers, and mixers and other small household appliances. KitchenAid is a subsidiary of Whirlpool.

Segmentation Overview:

Among different product types, Built-in Cooktops segment is anticipated to contribute the largest market share in 2028.

Application Overview:

The market's largest segment by application is the segment Online, with a market share of 42.73% in 2022.

Key Companies in the global Household Induction Cook-tops market covered in Chapter 3:

Konka
Bosch Home
Sub-Zero Group, Inc.
Peskoe
Whirlpool
LG
SMEG
Secura
Haier Group
Midea
Panasonic
Electrolux
Philips
Joyoung
Galanz
Miele
TTK Prestige
Taigroo
Samsung
SUPOR

In Chapter 4 and Chapter 14.2, on the basis of types, the Household Induction Cook-tops market from 2018 to 2029 is primarily split into:

Free Standing & Portable Cooktops
Built-in Cooktops

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Household Induction Cook-tops market from 2018 to 2029 covers:

Supermarkets/Hypermarkets
Specialty Stores
Online
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)