India Induction Cooktops Market Size & Outlook, 2023-2030
- Consumer Goods
- Consumer Electronics & Appliances
- Induction Cooktops Market Outlook
- Consumer Electronics & Appliances
India Induction Cooktops Market, 2018-2030 (US$M)
Global Market
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India induction cooktops market highlights
- The India induction cooktops market generated a revenue of USD 5,812.4 million in 2023 and is expected to reach USD 12,600.7 million by 2030.
- The India market is expected to grow at a CAGR of 11.7% from 2024 to 2030.
- In terms of segment, gas cooktops was the largest revenue generating type in 2023.
- Induction Cooktops is the most lucrative type segment registering the fastest growth during the forecast period.
Induction cooktops market data book summary
| Market revenue in 2023 | USD 5,812.4 million |
| Market revenue in 2030 | USD 12,600.7 million |
| Growth rate | 11.7% (CAGR from 2023 to 2030) |
| Largest segment | Gas cooktops |
| Fastest growing segment | Induction Cooktops |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Gas Cooktops, Electric Cooktops, Induction Cooktops |
| Key market players worldwide | Whirlpool Corp, LG Electronics Inc ADR, Electrolux AB ADR, Koninklijke Philips NV, Bosch, Avis Budget Group Inc, Panasonic Holdings Corp, TTK Group, Smeg, Sub-Zero, Wolf, and Cove, Miele |
Other key industry trends
- In terms of revenue, India accounted for 5.7% of the global induction cooktops market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China induction cooktops market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 12,600.7 million by 2030.
India is one of the fastest-growing economies with the growing economic stability of the middle-class population. Millennials opting for single-person households are some of the key consumers for induction cooktops.
Major manufacturers are shifting their manufacturing facilities to India owing to the availability of cheap labor as well as abundance of raw materials. These factors have attracted manufacturers to the country as well as boosted local production by the entry of small- and medium-scale companies.
The growing demand is supporting the launch of new products in the market. India is a huge potential market for induction cooktops and is characterized by cultural diversity and the rapidly rising urban population.
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Induction Cooktops Market Scope
Induction Cooktops Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Koninklijke Philips NV | View profile | 73,712 | Philips Center, Amstelplein 2, Amsterdam, Netherlands, 1096 BC | www.philips.com |
| Panasonic Holdings Corp | View profile | 230,025 | 1006, Oaza Kadoma, Kadoma-shi, Osaka, Japan, 571-8501 | holdings.panasonic |
| LG Electronics Inc ADR | View profile | 35,111 | Twin Tower 128, Yeoui-daero, Yeongdeungpo-gu, Seoul, Korea, Republic of, 07336 | www.lge.co.kr |
| Electrolux AB ADR | View profile | 41,869 | Street Goransgatan 143, Stadshagen, Stockholm, Sweden, SE-105 45 | www.electroluxgroup.com |
| Bosch | View profile | 10001+ | Stuttgart, Baden-Wurttemberg, Germany, Europe | www.bosch.com |
| Whirlpool Corp | View profile | 59,000 | 2000 North M-63, Benton Harbor, MI, United States, 49022-2692 | www.whirlpoolcorp.com |
| Avis Budget Group Inc | View profile | 31,000 | 379 Interpace Parkway, Parsippany, NJ, United States, 07054 | www.avisbudgetgroup.com |
| TTK Group | View profile | 251-500 | Bangalore, Karnataka, India, Asia | www.ttkservices.com |
| Smeg | View profile | 251-500 | Guastalla, Emilia-Romagna, Italy, Europe | www.smeg.com/ |
| Sub-Zero, Wolf, and Cove | View profile | 1001-5000 | Madison, Wisconsin, United States, North America | www.subzero-wolf.com/sub-zero |
India Induction Cooktops Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Induction Cooktops Market Outlook will help companies and investors design strategic landscapes.
Gas Cooktops was the largest segment with a revenue share of 83.03% in 2023.
Horizon Databook has segmented the India induction cooktops market based on gas cooktops, electric cooktops, induction cooktops covering the revenue growth of each sub-segment from 2018 to 2030.
India is one of the fastest-growing economies with the growing economic stability of the middle-class population. Millennials opting for single-person households are some of the key consumers for induction cooktops.
Major manufacturers are shifting their manufacturing facilities to India owing to the availability of cheap labor as well as abundance of raw materials. These factors have attracted manufacturers to the country as well as boosted local production by the entry of small- and medium-scale companies.
The growing demand is supporting the launch of new products in the market. India is a huge potential market for induction cooktops and is characterized by cultural diversity and the rapidly rising urban population.
- India Induction Cooktops Market Type Outlook (Revenue, USD Million , 2018-2030)
- Gas Cooktops
- Electric Cooktops
- Induction Cooktops
- India Induction Cooktops Market Installation Type Outlook (Revenue, USD Million , 2018-2030)
- Built-in
- Freestanding
- India Induction Cooktops Market Application Outlook (Revenue, USD Million , 2018-2030)
- Residential
- Commercial
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Horizon Databook provides a detailed overview of country-level data and insights on the India Induction Cooktops Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into India Induction Cooktops Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
India Induction Cooktops Market, 2018-2030 (US$M)
India induction cooktops market statistics, by type, 2018-2030 (US$M)
