Induction Cooktops Market Size To Reach $38.02 Billion By 2030

May 2025 | Report Format: Electronic (PDF)

Induction Cooktops Market Growth & Trends

The global induction cooktops market is anticipated to reach USD 38.02 billion by 2030 and is anticipated to expand at a CAGR of 6.2% during the forecast period, according to a new report by Grand View Research, Inc. The increased use of induction cooktops in Asia and Western areas of the world has been fueled by rising customer demand for hassle-free and clean cooking technology. Induction cooktops provide a number of advantages over standard gas stoves, such as faster water boiling, no heating of the burners, easy surface cleaning, and energy efficiency. These advantages have attracted not only a significant number of home chefs but also professional chefs.

Induction stoves are not luxury appliances for image-conscious elites despite the fact that they are a little more expensive than gas or electric stoves. The most affordable induction range costs approximately USD 600, which is only a few hundred dollars more than a mid-tier gas or electric freestanding range. Consumer preferences have shifted, not just in terms of product pricing but also in terms of purchase methods. The prevalence of e-commerce has further boosted the popularity and demand for induction cooktops. In the past, consumers favored in-store buying over online shopping. However, in recent years, online shopping has become increasingly popular. The option to select from a wide variety of products, along with enticing prices, has led to an increase in product sales through online distribution channels.

Government-sponsored initiatives for energy efficiency and sustainability, such as The Energy Efficiency Services Limited (EESL), under the Ministry of Power, plan to distribute 2 billion energy-efficient induction cooktops across India. Furthermore, this initiative is expected to offer a cost advantage of 25-30% compared to traditional cooking methods.

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Induction Cooktops Market Report Highlights

The built-in product segment accounted for the largest revenue share of 64.1% in 2024 and is expected to register the fastest CAGR during the forecast period. This is attributed to the increasing demand from residential as well as commercial sectors.
The specialty stores distribution channel segment accounted for the maximum revenue share in 2024
The online segment is estimated to expand at the fastest CAGR over the forecast period owing to increasing number of customers opting for online shopping due to its convenience and efficiency
Europe dominated the regional market in 2024 and accounted for a revenue share of more than 30%. It is attributed to the rising number of fast food and hotel chains in the region.