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Induction cooktops are quickly gaining popularity in Europe due to the benefits they provide over gas or radiant electric cooking methods. Induction kitchen ranges are the most energy-efficient way to cook. Induction cooktops heat cookware via electromagnets, which reduces boil time while being safer and more efficient than traditional gas or electric power sources. Induction cooktop kitchen ranges are more expensive in both gas and radiant electric types, but they provide value-added characteristics such as performance, safety, and efficiency. Many manufacturers, including Electrolux, Robert Bosch, SMEG, and Miele, are investing in research and development to provide induction kitchen ranges with novel features and designs. In Europe, the adoption of high-tech smart appliances promotes demand for induction hobs, particularly in countries such as Germany, where the population has grown in the last three years. The government and businesses have started a number of measures to promote energy efficiency, which will increase the adoption of smart home devices and services. According to a survey done by the German industry association Bitkom, 41% of all Germans would have at least one smart home device installed by 2021. The biggest motivators for purchasing smart home items, according to 78% of respondents, were simplicity, convenience, and comfort, while 69% wanted to make their homes safer. Energy efficiency was rated as a high purchasing factor by 62% of respondents.This report comes with 10% free customization, enabling you to add data that meets your specific business needs.
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According to the research report, Europe Induction Cooktop Market Outlook, 2028 the market is anticipated to reach USD 11.25 Billion. 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.
On the basis of product type, the market has been segmented into built-in and free-standing. In terms of value, the built-in product segment is leading the market with a share of more than 61% in 2022. While freestanding segment is expected to grow at CAGR of 8.18%. A growth in the number of residential and commercial development projects is driving the industry. Because of the inherent benefits of the technology, more chefs and manufacturers are pushing induction to building experts and customers. Based on application, the market has been segmented into two segments: residential and commercial. With a sales share of more than 63% in 2022, the residential sector will lead the European market. With a lot of new house construction projects in the works, demand for induction cooktops is expected to rise. In the past, the market profited from the steady move 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 due to greater awareness of its advantages over gas cooktops. The commercial sector is likely to expand quicker, with a CAGR of 8.64% over the forecast period. Induction cooktops are also widely used in non-residential facilities such as restaurants and hotels.
In 2022, the specialty retailers segment had the biggest revenue share of more than 60% in terms of Distribution Channel. The internet category is expected to expand at the fastest CAGR of 11.05% between 2023 and 2028. The market for induction cooktops in Europe is rising as a result of advancements in internet marketing and a growth in the use of digital media for product promotion. Increased acceptance of technologically innovative and high-tech commodities is projected to fuel the expansion of kitchen appliance e-commerce websites, boosting the market for induction cooktops.
Recent Development:
- In January 2022, Kaiser Appliances launched Freezone induction Cooktops in the UK market as a part of luxury kitchen appliances.
- On September 09, 2021, Belgian manufacturer Novy launched the Novy Easy Pro, an 80cm vented induction hob, which features a quiet central matrix extractor that automatically regulates the extraction speed once cooking begins.
Major Companies present in the market:
Electrolux AB, Robert Bosch GmbH, LG Electronics, Inc., Panasonic Corporation, Midea Group, Haier Smart Home Co. Ltd., Whirlpool Corporation, Koninklijke, Philips N.V., Samsung Electronics Co. Ltd, Miele, Sub-Zero Group, Inc., Smeg S.p.A, Somany Home Innovation Limited (SHIL), Faber S.p.A, Menu System.Considered in this report
- Geography: Europe
- Historic year: 2017
- Base year: 2022
- Estimated year: 2023
- Forecast year: 2028
Aspects covered in this report
- Europe 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:
- Germany
- France
- UK
- Italy
- Spain
- Russia
By Product Type:
- Built-In
- Freestanding
By Application:
- Residential
- Commercial
By Distribution Channel:
- Specialty Store
- Hypermarkets & Supermarkets
- Online
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.Table of Contents
1. Executive Summary2. Market Dynamics
2.1. Market Drivers
2.2. Challenges
2.3. Opportunity
2.4. Restraints
2.5. Market Trends
2.6. Covid-19 Effect
2.7. Supply chain Analysis
2.8. Policy & Regulatory Framework
2.9. Industry Experts Views
3. Research Methodology
3.1. Secondary Research
3.2. Primary Data Collection
3.3. Market Formation & Validation
3.4. Report Writing, Quality Check & Delivery
4. Market Structure
4.1. Market Considerate
4.2. Assumptions
4.3. Limitations
4.4. Abbreviations
4.5. Sources
4.6. Definitions
5. Economic /Demographic Snapshot
6. Competitive Landscape
6.1. Competitive Dashboard
6.2. Business Strategies Adopted by Key Players
6.3. Key Players Market Share Insights and Analysis, 2022
6.4. Key Players Market Positioning Matrix
6.5. Consolidated SWOT Analysis of Key Players
6.6. Porter's Five Forces
7. Global Induction Cooktop Market Outlook
7.1. Market Size By Value
7.2. Market Size and Forecast, By Geography
7.3. Market Size and Forecast, By Product Type
7.4. Market Size and Forecast, By Application
7.5. Market Size and Forecast, By Distribution Channel
8. Europe Induction Cooktop Market Outlook
8.1. Market Size By Value
8.2. Market Share By Country
8.3. Market Size and Forecast By Product Type
8.4. Market Size and Forecast By Application
8.5. Market Size and Forecast By Distribution Channel
8.6. Germany Induction Cooktop Market Outlook
8.6.1. Market Size By Value
8.6.2. Market Size and Forecast By Product Type
8.6.3. Market Size and Forecast By Application
8.6.4. Market Size and Forecast By Distribution Channel
8.7. UK Induction Cooktop Market Outlook
8.7.1. Market Size By Value
8.7.2. Market Size and Forecast By Product Type
8.7.3. Market Size and Forecast By Application
8.7.4. Market Size and Forecast By Distribution Channel
8.8. France Induction Cooktop Market Outlook
8.8.1. Market Size By Value
8.8.2. Market Size and Forecast By Product Type
8.8.3. Market Size and Forecast By Application
8.8.4. Market Size and Forecast By Distribution Channel
8.9. Italy Induction Cooktop Market Outlook
8.9.1. Market Size By Value
8.9.2. Market Size and Forecast By Product Type
8.9.3. Market Size and Forecast By Application
8.9.4. Market Size and Forecast By Distribution Channel
8.10. Spain Induction Cooktop Market Outlook
8.10.1. Market Size By Value
8.10.2. Market Size and Forecast By Product Type
8.10.3. Market Size and Forecast By Application
8.10.4. Market Size and Forecast By Distribution Channel
8.11. Russia Induction Cooktop Market Outlook
8.11.1. Market Size By Value
8.11.2. Market Size and Forecast By Product Type
8.11.3. Market Size and Forecast By Application
8.11.4. Market Size and Forecast By Distribution Channel
9. Company Profile
9.1. Electrolux AB
9.1.1. Company Snapshot
9.1.2. Company Overview
9.1.3. Financial Highlights
9.1.4. Geographic Insights
9.1.5. Business Segment & Performance
9.1.6. Product Portfolio
9.1.7. Key Executives
9.1.8. Strategic Moves & Developments
9.2. Robert Bosch GmbH
9.3. LG Electronics Inc.
9.4. Panasonic Corporation
9.5. Midea Group
9.6. Haier Smart Home Co. Ltd.
9.7. Whirlpool Corporation
9.8. Koninklijke Philips N.V.
9.9. Samsung Electronics Co. Ltd
9.10. Miele
9.11. Sub-Zero Group, Inc.
9.12. Smeg S.p.A
9.13. TTK Group
9.14. Somany Home Innovation Limited (SHIL)
9.15. Faber S.p.A
9.16. Menu System
10. Strategic Recommendations
11. Annexure
11.1. FAQ`s
11.2. Notes
11.3. Related Reports
12. Disclaimer
List of Figures
Figure 1: Global Induction Cooktop Market Size (USD Billion) By Region, 2022 & 2028
Figure 2: Market attractiveness Index, By Region 2028
Figure 3: Market attractiveness Index, By Segment 2028
Figure 4: Competitive Dashboard of top 5 players, 2022
Figure 5: Market Share insights of key players, 2022
Figure 6: Porter's Five Forces of Global Induction Cooktop Market
Figure 7: Global Induction Cooktop Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 8: Global Induction Cooktop Market Share By Region (2022)
Figure 9: Europe Induction Cooktop Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 10: Europe Induction Cooktop Market Share By Country (2022)
Figure 11: Germany Induction Cooktop Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 12: UK Induction Cooktop Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 13: France Induction Cooktop Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 14: Italy Induction Cooktop Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 15: Spain Induction Cooktop Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 16: Russia Induction Cooktop Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
List of Tables
Table 1: Global Induction Cooktop Market Snapshot, By Segmentation (2022 & 2028) (in USD Billion)
Table 2: Influencing Factors for Global Induction Cooktop Market, 2022
Table 3: Top 10 Counties Economic Snapshot 2020
Table 4: Economic Snapshot of Other Prominent Countries 2020
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global Induction Cooktop Market Size and Forecast, By Geography (2017 to 2028F) (In USD Billion)
Table 7: Global Induction Cooktop Market Size and Forecast, By Product Type (2017 to 2028F) (In USD Billion)
Table 8: Global Induction Cooktop Market Size and Forecast, By Application (2017 to 2028F) (In USD Billion)
Table 9: Global Induction Cooktop Market Size and Forecast, By Distribution Channel (2017 to 2028F) (In USD Billion)
Table 10: Europe Induction Cooktop Market Size and Forecast By Product Type (2017 to 2028F) (In USD Billion)
Table 11: Europe Induction Cooktop Market Size and Forecast By Application (2017 to 2028F) (In USD Billion)
Table 12: Europe Induction Cooktop Market Size and Forecast By Distribution Channel (2017 to 2028F) (In USD Billion)
Table 13: Germany Induction Cooktop Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 14: Germany Induction Cooktop Market Size and Forecast By Application (2017, 2022 & 2028F)
Table 15: Germany Induction Cooktop Market Size and Forecast By Distribution Channel (2017, 2022 & 2028F)
Table 16: UK Induction Cooktop Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 17: UK Induction Cooktop Market Size and Forecast By Application (2017, 2022 & 2028F)
Table 18: UK Induction Cooktop Market Size and Forecast By Distribution Channel (2017, 2022 & 2028F)
Table 19: France Induction Cooktop Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 20: France Induction Cooktop Market Size and Forecast By Application (2017, 2022 & 2028F)
Table 21: France Induction Cooktop Market Size and Forecast By Distribution Channel (2017, 2022 & 2028F)
Table 22: Italy Induction Cooktop Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 23: Italy Induction Cooktop Market Size and Forecast By Application (2017, 2022 & 2028F)
Table 24: Italy Induction Cooktop Market Size and Forecast By Distribution Channel (2017, 2022 & 2028F)
Table 25: Spain Induction Cooktop Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 26: Spain Induction Cooktop Market Size and Forecast By Application (2017, 2022 & 2028F)
Table 27: Spain Induction Cooktop Market Size and Forecast By Distribution Channel (2017, 2022 & 2028F)
Table 28: Russia Induction Cooktop Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 29: Russia Induction Cooktop Market Size and Forecast By Application (2017, 2022 & 2028F)
Table 30: Russia Induction Cooktop Market Size and Forecast By Distribution Channel (2017, 2022 & 2028F)
