Household Induction Cooktops Market by Type (Built-in and Free-standing & Portable), Mode of Sale (Retail and Online) and Geography - Global Opportunity Analysis and Industry Forecast, 2014-2022 )

  • ID: 4173391
  • Report
  • Region: Global
  • 120 pages
  • Allied Analytics LLP
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FEATURED COMPANIES

  • Electrolux Group
  • Koninklijke Philips N.V.
  • Lg Electronics, Inc.
  • Miele Group
  • Panasonic Corporation
  • Robert Bosch Gmbh
  • MORE
Household induction cooktop is a cooking surface, which works on electromagnetic energy to cook the food. This is very different from traditional gas flame or electric coil cooking methods. Induction cooking works by using an electromagnetic field to heat the cookware. A high-frequency induction coil is installed below the cook-tops smooth surface that heats the cookware by a magnetic field rather than using open flames such as a gas cooktop. Induction cooktops are faster and more energy efficient as compared to gas cooktops. The global household induction cooktops market size is expected to reach $13,538 million by 2022, registering a CAGR of 5.8% during the forecast period.

The demand for household induction cooktops is high within the urban population especially in the developing nations, due to factors such as high purchasing power, better infrastructural facilities, and increase in working population. Rise in fuel prices for conventional gas cooktops and growth in trend for modular kitchens along with comfortable and safety benefits to the users are the major factors that drive the household induction cooktops market. At present, induction cooktops are in high demand among working women and urban population, owing to ease of operations and benefits toward healthy cooking.

The global household induction cooktops market is segmented based on product into free-standing & portable and built-in (integrated) cooktops. In 2015, built-in (integrated) induction cooktops segment was dominant and is expected to maintain its position throughout the analysis period.

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. Factors such as government initiatives for the usage of energy-efficient products across various countries, such as the U.S., UK, Germany, Romania, Italy, and others are expected to facilitate the adoption of induction cooktops in the recent years. The restraining factors for the global household induction cooktops industry include high initial cost, growth in preference for microwaves and need for specialized magnetic utensils.

The mode of sale could either be retail or online sale, wherein retail mode includes brand outlets, franchise stores, departmental stores, and retail outlets and online mode includes e-commerce websites. Most customers prefer the retail mode of sale while buying kitchen electronics as retail shops help the customers understand the know-how about the product. However, online mode of sale steadily gains momentum and is expected to grow at the highest CAGR of 7.6% during the forecast period.

The household induction cooktops market size is analyzed based on four regions, namely North America, Europe, Asia-pacific, and LAMEA along with their respective countries. Europe is expected to dominate the global household induction cooktops market during the analysis period with the CAGR of 4.9%. Increase in demand for replacement products to improve energy efficiency and reduce health concerns is expected to boost the household induction cooktops market growth in Europe. Asia-pacific household induction cooktops market is expected to grow at a significant rate due to acceptance of induction cooking, improving lifestyle standards, and fast economic developments.

The key players profiled in the global household induction cooktops market includes Lg Electronics, Inc., Whirlpool Corporation, Panasonic Corporation, Koninklijke Philips N.V., Ttk Prestige Ltd, Sub-Zero Group, Inc., Electrolux Group, Robert Bosch Gmbh, Miele Group, and Smeg S.P.A.

Key benefits

This report provides an in-depth analysis of the global household induction cooktops market to elucidate the potential investment pockets.
The current trends and future scenarios are outlined to determine the overall household induction cooktops industry’s potential and single out profitable trends to gain a stronger foothold in the market.
This report provides information regarding key drivers, restraints, and opportunities along with their detailed impact analysis.
Quantitative analysis of the current market trends and future estimations for 2014–2022 have been provided to indicate the financial competency.
Porter’s five forces model of the industry illustrate the potency of the buyers and suppliers.
Household induction cooktops market key segments

By Product Type

Free-Standing & Portable Cooktops
Built-In Cooktops

By Mode Of Sale

Retail
Online

By Region

North America
U.S.
Canada
Mexico
Europe
Uk
Spain
Germany
France
Rest Of Europe
Asia-Pacific
China
India
Japan
Australia
Rest Of Asia-Pacific
Lamea
Latin America
Middle East
Africa
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Electrolux Group
  • Koninklijke Philips N.V.
  • Lg Electronics, Inc.
  • Miele Group
  • Panasonic Corporation
  • Robert Bosch Gmbh
  • MORE
Chapter 1 Introduction

1.1. Report Description
1.2. Key Benefits
1.3. Key Market Segments
1.4. Research Methodology

1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools And Models

Chapter 2 Executive Summary

2.1. CXO Perspective

Chapter 3 Market Overview

3.1. Market Definition And Scope
3.2. Key Findings

3.2.1. Top Impacting Factors
3.2.2. Top Winning Strategies
3.2.3. Top Investment Pockets

3.3. Porters Five Forces Analysis

3.3.1. High Bargaining Power Of Suppliers
3.3.2. High Bargaining Power Of Buyers
3.3.3. Moderate Threat Of Substitution
3.3.4. Moderate Threat Of New Entrants
3.3.5. High Competitive Rivalry

3.4. Market Share Analysis, 2015
3.5. Market Dynamics

3.5.1. Drivers

3.5.1.1. Growth In Urban Population
3.5.1.2. Improved Economic Conditions/Growth In Disposable Income
3.5.1.3. Growth In Online Sales
3.5.1.4. Technological Advancements
3.5.1.5. Improved Safety
3.5.1.6. Government Emphasis
3.5.1.7. Growth In Real-Estate Industry

3.5.2. Restraints

3.5.2.1. Need For Specialized Cookware

3.5.3. Opportunities

3.5.3.1. Untapped Asia-Pacific And Lamea Markets

Chapter 4 Global Household Induction Cooktops Market, By Product Type

4.1. Overview

4.1.1. Market Size And Forecast

4.2. Built-In Induction Cooktops

4.2.1. Key Market Trends
4.2.2. Key Growth Factors And Opportunities
4.2.3. Market Size And Forecast

4.3. Free-Standing & Portable Induction Cooktops

4.3.1. Key Market Trends
4.3.2. Key Growth Factors And Opportunities
4.3.3. Market Size And Forecast

Chapter 5 Household Induction Cooktops Market, By Mode Of Sale

5.1. Overview

5.1.1. Market Size And Forecast

5.2. Retail

5.2.1. Key Market Trends
5.2.2. Key Growth Factors And Opportunities
5.2.3. Market Size And Forecast

5.3. Online

5.3.1. Key Market Trends
5.3.2. Key Growth Factors And Opportunities
5.3.3. Market Size And Forecast

Chapter 6 Household Induction Cooktops Market, By Geography

6.1. Overview
6.2. North America

6.2.1. Key Market Trends
6.2.2. Key Growth Factors And Opportunities
6.2.3. Market Size And Forecast

6.2.3.1. U.S.
6.2.3.2. Canada
6.2.3.3. Mexico

6.3. Europe

6.3.1. Key Market Trends
6.3.2. Key Growth Factors And Opportunities
6.3.3. Market Size And Forecast

6.3.3.1. United Kingdom
6.3.3.2. Spain
6.3.3.3. France
6.3.3.4. Germany
6.3.3.5. Rest Of Europe

6.4. Asia-Pacific

6.4.1. Key Market Trends
6.4.2. Key Growth Factors And Opportunities
6.4.3. Market Size And Forecast

6.4.3.1. China
6.4.3.2. Japan
6.4.3.3. India
6.4.3.4. Australia
6.4.3.5. Rest Of Asia-Pacific

6.5. Lamea

6.5.1. Key Market Trends
6.5.2. Key Growth Factors And Opportunities
6.5.3. Market Size And Forecast

6.5.3.1. Latin America
6.5.3.2. Middle East
6.5.3.3. Africa

Chapter 7 Company Profiles

7.1. Whirlpool Corporation

7.1.1. Company Overview
7.1.2. Business Performance
7.1.3. Operating Business Segments
7.1.4. Key Strategic Moves & Developments

7.2. Lg Electronics Inc.

7.2.1. Company Overview
7.2.2. Business Performance
7.2.3. Operating Business Segments
7.2.4. Key Strategic Moves & Developments

7.3. Panasonic Corporation

7.3.1. Company Overview
7.3.2. Business Performance
7.3.3. Operating Business Segments
7.3.4. Key Strategic Moves & Developments

7.4. Sub-Zero Group, Inc.

7.4.1. Company Overview
7.4.2. Operating Business Segments
7.4.3. Key Strategic Moves & Developments

7.5. Ttk Prestige Limited

7.5.1. Company Overview
7.5.2. Business Performance
7.5.3. Operating Business Segments
7.5.4. Key Strategic Moves & Developments

7.6. Koninklijke Philips N.V.

7.6.1. Company Overview
7.6.2. Business Performance
7.6.3. Operating Business Segments
7.6.4. Key Strategic Moves & Developments

7.7. Robert Bosch Gmbh

7.7.1. Company Overview
7.7.2. Business Performance
7.7.3. Operating Business Segments
7.7.4. Strategic Moves And Developments

7.8. Smeg S.P.A

7.8.1. Company Overview
7.8.2. Operating Business Segments
7.8.3. Key Strategic Moves & Developments

7.9. Electrolux Group

7.9.1. Company Overview
7.9.2. Business Performance
7.9.3. Operating Business Segments
7.9.4. Key Strategic Moves & Developments

7.10. Miele Group

7.10.1. Company Overview
7.10.2. Business Performance
7.10.3. Operating Business Segments
7.10.4. Key Strategic Moves & Developments

List Of Tables
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Electrolux Group
  • Koninklijke Philips N.V.
  • Lg Electronics, Inc.
  • Miele Group
  • Panasonic Corporation
  • Robert Bosch Gmbh
  • MORE
Household Induction Cooktops Market Report, the household induction cooktops market size was valued at $9,160 million in 2015 and is projected to reach $13,538 million by 2022, growing at a CAGR of 5.8% from 2016 to 2022. Europe is expected to be the leading contributor to the global household induction cooktops market followed by Asia-Pacific and LAMEA.

Growth in acceptance of innovative cooking technologies, smart kitchen appliances and energy efficient solutions primarily drive the market. In addition, the health and safety benefits provided by the adoption of induction cooktops further supplements the market growth. Factors such as rise in disposable income of consumers and increase in price of fuels used for conventional cooking such as gas and electricity encourages the adoption of energy efficient cooking solutions, thus propelling the household induction cooktops industry growth. However, need for specialized cookware is likely to hamper the market growth as the cost incurred in investing in induction supported cookware is high for the first time purchasers. Growth in popularity of modular kitchens and preference for optimized cooking solutions layout, rise in number of working women, and increase in government emphasis on energy efficient cooking appliances are expected to provide numerous growth opportunities for the global household induction cooktops market.

In 2015, built-in induction cooktops segment accounted for the maximum revenue shares in the overall household induction cooktops industry. This is due to the rise in trend of integration of kitchen appliances. As a result, many vendors have started offering built-in induction cooktops along with built-in ovens. In addition, the demand for built-in induction cooktops from European and Asia-Pacific countries is expected to have a positive impact on the household induction cooktops market growth as these regions have large kitchen spaces. Moreover, the free-standing & portable induction cooktops segment is expected to witness the fastest growth at CAGR of 6.4% during the forecast period. The market is expected to grow, owing to the technological advancements such as, manual menu control option & resistance to voltage fluctuation, availability in single or double zones, portability of the cooktop, and others.

The retail sales channel dominated the global household induction cooktops market with 87% share in 2015 and is projected to maintain its dominance throughout the forecast period. In addition, customer can have better interaction with the salesperson and can physically see the product specifications and features. However, online sales channel is anticipated to grow at a highest CAGR of 7.6% during the forecast period (20162022). The growth of online sales channel would be driven by convenience, and services such as free delivery and installation of the induction cooktops.

Europe accounted for the major share of the global household induction cooktops market in 2015, and is expected to maintain its dominance during the forecast period, owing to demand for easy to maintain household electric cooking appliances, such as induction cooktops and enhanced consumer awareness. Asia-Pacific is estimated to grow at the highest rate due to increase in the adoption of energy-efficient electrical cooking appliances, booming demand for modular kitchen designs, and extensive economic growth in China, Japan, Singapore, and India.

Key Findings ofHousehold Induction Cooktops Market

In 2015, built-in induction cooktops accounted for the maximum revenue, and is projected to grow at a notable CAGR of 5.4% during the forecast period.
France possessed the largest customer base in Europe household induction cooktops market in 2015, and is anticipated to dominate the market throughout the forecast period.
Online mode of sale segment is expected to grow at a highest CAGR of 7.6% during the forecast period.
Japan is the major shareholder in the Asia-Pacific household induction cooktop market, accounting for more than 25% share in 2015.
The key players profiled in the household induction cooktops market include LG Electronics, Inc., Whirlpool Corporation, Panasonic Corporation, Koninklijke Philips N.V., TTK Prestige Ltd, Sub-Zero Group, Inc., Electrolux Group, Robert Bosch GmbH, Miele Group, and SMEG S.p.A. Market players have adopted various strategies such as product launch, acquisition, collaboration, and partnership to expand their foothold in the market. For instance, in November 2016, SMEG S.p.A. introduced a sleek range of cooktops equipped with advanced features and technology that serve best for the consumers living in houses with compact kitchens featuring premium benchtop space.
Note: Product cover images may vary from those shown
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  • Whirlpool Corporation
  • Smeg S.P.A.
  • Lg Electronics, Inc.
  • Koninklijke Philips N.V.
  • Ttk Prestige Ltd
  • Electrolux Group
  • Robert Bosch Gmbh
  • Sub-Zero Group, Inc.
  • Panasonic Corporation
  • Miele Group
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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