The global induction cooktops market size was valued at USD 18.6 billion in 2018. Rising demand for time saving and energy efficient cooking appliances has been driving the demand for the product over the world. Furthermore, shifting trend towards modular kitchen among middle-income age groups in emerging economies including China and India is expected to expand the scope of induction cooktops in built-in formats.
Increasing awareness about safety has been attracting consumers all over the world to procure advanced cooking appliances. The technology of these cooktops generate an electromagnetic field and transfer heat directly to the metal cookware that is made of ferrous metals such as steel and iron. Generally, the surface of the product is made up of strong heat resistant glass or ceramic. As a result, the entire surface and the air surrounding the vessel does not get heated while cooking. Furthermore, these products automatically shut off when cookware is not present on the top. These features make the products safer and more energy efficient as compared to the conventional cooktop.
Increasing consumer interest in advanced technology is expected to boost the expansion of the industry over the world. The product offers a wide range of temperature (80‐450°F) and several power level options that ensure exact temperature control. Growing consciousness regarding healthy food among the working class population in developing economies including China and India is expected to positively impact the market growth, as the consumers are opting for cooktops that require less oil for cooking.
Rapid growth of online marketing across the globe is contributing significantly to the growth of the industry. Rapid adoption of high-tech products is anticipated to add to the growth of kitchen appliances, including cooking hobs. However, requirement of initial investment on specialized cookware may hamper the growth of the industry in the near future. Additionally, these products are considered to be more expensive as compared to conventional gas cooktop.
The household application segment dominated the global induction cooktops market in 2018, accounting for over 70.0% share of the total revenue. The product gained remarkable popularity among the urban population, especially in the developing countries including China and India due to increasing purchasing power, rising LPG price, and developing infrastructural facilities at a domestic level.
Benefits such as time saving cooking and easy cleaning have been attracting the growing working-class population. Furthermore, growing adoption of modular kitchen and smart cooking appliances has been driving the demand for the product in the household sector across the world.
The commercial application sector has also been witnessing a rise in the adoption of induction hobs. Increasing ventilation expenses in commercial kitchens are fueling the demand for the product in the commercial sector. Conventional gas burners need multiple ventilation systems as they generate thick smoke and increased heat dissipation. As a result, the manufacturers are introducing products that are compatible with a commercial kitchen.
These innovations are expected to encourage the owners of hotels, restaurants, and other foodservice to invest in commercial induction cooktops. In February 2017, Panasonic Corporation introduced Met-ALL KY-MK3500 that specifically designed for commercial foodservice industry use. This product is compatible with all metal cookware, including stainless steel, copper and aluminum.
Specialty stores emerged as the largest segment, accounting for 50.8% share of the total revenue in 2018. Most of the consumers prefer specialty stores while buying kitchen electronics due to the exclusive offerings by product specialists and after-sale services.
The online distribution channel is expected to expand at the fastest CAGR of 7.0% from 2019 to 2025. Rapidly growing digitalization and expansion of e-commerce, especially among the young and millennial population at a global level are driving the online sales of the product across the world. Additionally, busy lifestyle, coupled with ease of transactions, will drive the online sales of the product. This, in turn, is expected to increase the revenue generation from this distribution channel over the forecast period.
As of 2018, the built-in product segment held the largest share of more than 60.0%. Over the past few years, a large number of the married population have been opting for the modular kitchen due to the convenience associated with it. In addition, a large number of the nuclear families prefer modular kitchen. As a result, shifting inclination towards modular kitchen among households is expected to promote the use of built-in hobs. The stylish look, along with several benefits including four cooking zones, smart slide, temperature control, and child lock safety system of built-in hobs, is expected to expand the market reach in the near future.
Over the past few years, the manufacturers have been introducing built-in products with innovative features that enhance consumer’s 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. Similarly, in August 2018, Electrolux AB launched its Electrolux SenseFry sensor-enabled induction hob in Europe. The sensors and touchscreen technology of the product maintains the temperature across the surface of the cooking pots that improves the cooking experience.
As of 2018, Europe held the largest share of more than 35.0%. Increasing adoption of innovative smart kitchen appliances is primarily boosting the growth of the market in this region. Electronic hobs accounted for a significant share in the European hobs market. The built-in hobs with four cooking zones are the most popular product category in this region.
Asia Pacific is expected to expand at the fastest CAGR of 8.3% from 2019 to 2025. Rising number of housing projects in this region is anticipated to accelerate the demand for modular kitchen in the upcoming years. The global brands are expanding their business in this region by introducing features compatible with regional cooking style.
Key manufacturers of this industry include Whirlpool Corporation; LG Electronics Inc.; Electrolux AB; TTK Group; Smeg; Koninklijke Philips N.V.; Robert Bosch GmbH; Panasonic Corporation; Sub-Zero Group, Inc.; and Miele. The manufacturers are focusing on quality improvement and development of innovative features in order to gain a competitive advantage in the industry. Multiple hot surfaces and auto cook features are gaining significant popularity in the market.
For instance, in 2019, Robert Bosch GmbH launched Bosch Induction Cooktops that allow consumers to synchronize their hobs with the wall hood for automatic deployment when the cooktop is turned on. In addition, the product is integrated with the Home Connect app that allows consumers to get notifications when the meal is prepared.
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Attribute |
Details |
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Base year for estimation |
2018 |
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Actual estimates/Historical data |
2015 - 2017 |
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Forecast period |
2019 - 2025 |
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Market representation |
Revenue in USD Million and CAGR from 2019 to 2025 |
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Regional scope |
North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa |
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Country scope |
U.S., Germany, U.K., China, India, Brazil, and South Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, and growth factors and trends |
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15% free customization scope (equivalent to 5 analyst working days) |
If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
This report forecasts revenue growth at the global, regional, and country levels, and provides an analysis on the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global induction cooktops market report based on product, application, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2015 - 2025)
Built-in
Free-standing
Application Outlook (Revenue, USD Million, 2015 - 2025)
Household
Commercial
Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Hypermarkets & Supermarkets
Specialty Stores
Online
Regional Outlook (Revenue, USD Million, 2015 - 2025)
North America
U.S.
Europe
Germany
U.K.
Asia Pacific
China
India
Central & South America
Brazil
Middle East & Africa
South Africa
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