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

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

The induction cooker does not require an open flame or conduction heating, but allows heat to be generated directly at the bottom of the pot, thus greatly improving the thermal efficiency.

The principle of induction cooker is magnetic field induction eddy current heating.That is, the magnetic field is generated by the current flowing through the coil. When the magnetic field lines in the magnetic field pass through the bottom of the iron pan, the magnetic field lines are cut off, resulting in countless small eddy currents, causing the iron atoms in the iron pan to rotate at a high speed and produce collisions and frictions, which directly heating the food in the pan.

Market Overview:

The latest research study on the global Induction Cooking market finds that the global Induction Cooking market reached a value of USD 5918.2 million in 2022. It’s expected that the market will achieve USD 7782.58 million by 2028, exhibiting a CAGR of 4.67% during the forecast period.

Assessment of the Overall Impact of COVID-19 on the Industry

The COVID-19 outbreak has disrupted business and economic activities globally. It is expected to have a short-term impact on the Sports Trading Card market to a certain extent. With several countries across the globe announcing nationwide lockdowns and temporary closures of various industries, production and manufacturing have been severely affected. Stopping production not only aggravates the shortage of funds for small and medium-sized enterprises, but also reduces the solvency of enterprises, which may affect production and sales. Some enterprises have difficulties in operation and even go bankrupt. The epidemic situation has seriously affected the logistics and transportation, and the transportation of raw materials is difficult. The industrial chain of small and medium-sized enterprises is imperfect and fragile. Trade barriers have further impacted the demand-supply gap. Companies operating in the Sports Trading Card market have suspended non-essential visits/activities until the COVID-19 outbreak is resolved.

Region Overview:

United States had the highest growth rate of all regions.

Company Overview:

BSHHausgeräteGmbH is one of the major players operating in the Induction Cooking market, holding a share of 10.12% in 2020.

BSH Hausgerate GmbH manufactures home appliances. The Company provides wide range home appliances including refrigerators, dishwashers, and cooking, and laundry products. Bosch Home Appliance, Siemens Home Appliance, Thermador are subsidiaries of BSH Hausgeräte GmbH.

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, Touchtone Type segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Home Use segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Induction Cooking market covered in Chapter 3:

Smeg
Qinxin
Vollrath
True Induction
Philips
Garland
Whirlpool
Panasonic
SUPOR
Samsung
MENU SYSTEM
Miele
Haier Group
LG Electronics
AB Electrolux
Chinducs
Summit Appliance
Joyoung
BSHHausgeräteGmbH
Midea

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

Touch Screen Type
Touchtone Type

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

Home Use
Commercial Use

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)