South Africa Induction Cooktops Market Size & Outlook
- Consumer Goods
- Consumer Electronics & Appliances
- Induction Cooktops Market Outlook
- Consumer Electronics & Appliances
South Africa Induction Cooktops Market, 2018-2030 (US$M)
Global Market
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South Africa induction cooktops market highlights
- The South Africa induction cooktops market generated a revenue of USD 1,333.4 million in 2023 and is expected to reach USD 2,332.1 million by 2030.
- The South Africa market is expected to grow at a CAGR of 8.3% 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 1,333.4 million |
| Market revenue in 2030 | USD 2,332.1 million |
| Growth rate | 8.3% (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, South Africa accounted for 1.3% 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 Middle East & Africa, South Africa induction cooktops market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 2,332.1 million by 2030.
The South African population prefers international and established brands since they are perceived to be high quality products. The market is known to be price-sensitive in the country and, thus, consumers are reported to switch brands. Products that offer quality at competitive prices are highly preferred in the region.
Over the past few years, manufacturers have been introducing built-in products with innovative features that enhance convenience and safety. For instance, in August 2017, Beko, a brand of Arçelik A.Ş, launched its IndyFlex+ Beko Hobs under the built-in category.
These products are featured with eight independent coils, expanded flexible cooking surface, innovative safety features, and touch and slide control technology. The sensors and touchscreen technology of the product maintains the temperature across the surface of the cooking pots, which improves the cooking experience.
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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 |
South Africa 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 54.96% in 2023.
Horizon Databook has segmented the South Africa induction cooktops market based on gas cooktops, electric cooktops, induction cooktops covering the revenue growth of each sub-segment from 2018 to 2030.
The South African population prefers international and established brands since they are perceived to be high quality products. The market is known to be price-sensitive in the country and, thus, consumers are reported to switch brands. Products that offer quality at competitive prices are highly preferred in the region.
Over the past few years, manufacturers have been introducing built-in products with innovative features that enhance convenience and safety. For instance, in August 2017, Beko, a brand of Arçelik A.Ş, launched its IndyFlex+ Beko Hobs under the built-in category.
These products are featured with eight independent coils, expanded flexible cooking surface, innovative safety features, and touch and slide control technology. The sensors and touchscreen technology of the product maintains the temperature across the surface of the cooking pots, which improves the cooking experience.
- South Africa Induction Cooktops Market Type Outlook (Revenue, USD Million , 2018-2030)
- Gas Cooktops
- Electric Cooktops
- Induction Cooktops
- South Africa Induction Cooktops Market Installation Type Outlook (Revenue, USD Million , 2018-2030)
- Built-in
- Freestanding
- South Africa 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 South Africa Induction Cooktops Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into South Africa Induction Cooktops Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
South Africa Induction Cooktops Market, 2018-2030 (US$M)
South Africa induction cooktops market statistics, by type, 2018-2030 (US$M)
