U.K. Induction Cooktops Market Size & Outlook, 2023-2030
- Consumer Goods
- Consumer Electronics & Appliances
- Induction Cooktops Market Outlook
- Consumer Electronics & Appliances
U.K. Induction Cooktops Market, 2018-2030 (US$M)
Global Market
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UK induction cooktops market highlights
- The UK induction cooktops market generated a revenue of USD 7,701.4 million in 2023 and is expected to reach USD 13,037.7 million by 2030.
- The UK market is expected to grow at a CAGR of 7.8% from 2024 to 2030.
- In terms of segment, electric 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 7,701.4 million |
| Market revenue in 2030 | USD 13,037.7 million |
| Growth rate | 7.8% (CAGR from 2023 to 2030) |
| Largest segment | Electric 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, UK accounted for 7.5% 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 Europe, Germany induction cooktops market is projected to lead the regional market in terms of revenue in 2030.
- France is the fastest growing regional market in Europe and is projected to reach USD 8,168.7 million by 2030.
The highly developed economy along with free-market orientation provides a healthy ecosystem for all kinds of industries to flourish in the U.K. It ranks ninth on the list of purchasing power parities, which acts in favor of the induction cooktops market in the U.K.
The reason for this slow market growth in the U.K. could be attributed to the compatibility required between the cooktop and the cookware used. Ceramic, aluminum, and copper pots and pans do not work, and special cookware is needed for cooking via induction cooktops.
The growing reach of international brands across countries and regions is contributing to the rising penetration and popularity of e-commerce platforms. Reduction of middlemen costs, such as distributors and dealers in the sales channel, is beneficial for the service providers, resulting in an increasing number of players offering products through company websites or third-party retailers.
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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 |
U.K. 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.
Electric Cooktops was the largest segment with a revenue share of 42.09% in 2023.
Horizon Databook has segmented the U.K. induction cooktops market based on gas cooktops, electric cooktops, induction cooktops covering the revenue growth of each sub-segment from 2018 to 2030.
The highly developed economy along with free-market orientation provides a healthy ecosystem for all kinds of industries to flourish in the U.K. It ranks ninth on the list of purchasing power parities, which acts in favor of the induction cooktops market in the U.K.
The reason for this slow market growth in the U.K. could be attributed to the compatibility required between the cooktop and the cookware used. Ceramic, aluminum, and copper pots and pans do not work, and special cookware is needed for cooking via induction cooktops.
The growing reach of international brands across countries and regions is contributing to the rising penetration and popularity of e-commerce platforms. Reduction of middlemen costs, such as distributors and dealers in the sales channel, is beneficial for the service providers, resulting in an increasing number of players offering products through company websites or third-party retailers.
- U.K. Induction Cooktops Market Type Outlook (Revenue, USD Million , 2018-2030)
- Gas Cooktops
- Electric Cooktops
- Induction Cooktops
- U.K. Induction Cooktops Market Installation Type Outlook (Revenue, USD Million , 2018-2030)
- Built-in
- Freestanding
- U.K. 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 U.K. Induction Cooktops Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into U.K. Induction Cooktops Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
U.K. Induction Cooktops Market, 2018-2030 (US$M)
UK induction cooktops market statistics, by type, 2018-2030 (US$M)
