Solan Headlines

Household Induction Cooktops Market Is Likely To Engender Revenue Of $13,538 Million by 2022, at an Estimated CAGR 5.8% during forecast period | Allied Market Research

 Breaking News
  • No posts were found

Household Induction Cooktops Market Is Likely To Engender Revenue Of $13,538 Million by 2022, at an Estimated CAGR 5.8% during forecast period | Allied Market Research

September 14
14:54 2019
Household Induction Cooktops Market Is Likely To Engender Revenue Of $13,538 Million by 2022, at an Estimated CAGR 5.8% during forecast period | Allied Market Research
Allied Market Research Adds “Household Induction Cooktops – Market Demand, Growth, Opportunities, Manufacturers and Analysis of Top Key Players to 2022” To Its Research Database

Household Induction Cooktops Market Report, Published by Allied Market Research, the household induction cooktops market size was valued at $9,160 million in 2015 and is projected to reach $13,538 million by 2022, growing at a CAGR of 5.8% from 2016 to 2022. Europe is expected to be the leading contributor to the global household induction cooktops market followed by Asia-Pacific and LAMEA.

Growth in acceptance of innovative cooking technologies, smart kitchen appliances and energy efficient solutions primarily drive the market. In addition, the health and safety benefits provided by the adoption of induction cooktops further supplements the market growth. Factors such as rise in disposable income of consumers and increase in price of fuels used for conventional cooking such as gas and electricity encourages the adoption of energy efficient cooking solutions, thus propelling the household induction cooktops industry growth.

Download Report Sample @ https://www.alliedmarketresearch.com/request-sample/1926

The household induction cooktops market in the Asia-Pacific region is expected to grow at the fastest rate during the forecast period, owing to growth in urbanization, improving living standards of the consumers, and introduction of energy-efficient induction cooktops that could help minimize utility bills. Furthermore, continuous economic development in countries such as India, China, and Australia are expected to provide numerous growth opportunities to the market

However, need for specialized cookware is likely to hamper the market growth as the cost incurred in investing in induction supported cookware is high for the first time purchasers. Growth in popularity of modular kitchens and preference for optimized cooking solutions layout, rise in number of working women, and increase in government emphasis on energy efficient cooking appliances are expected to provide numerous growth opportunities for the global household induction cooktops market.

In 2015, built-in induction cooktops segment accounted for the maximum revenue shares in the overall household induction cooktops industry. This is due to the rise in trend of integration of kitchen appliances. As a result, many vendors have started offering built-in induction cooktops along with built-in ovens. In addition, the demand for built-in induction cooktops from European and Asia-Pacific countries is expected to have a positive impact on the household induction cooktops market growth as these regions have large kitchen spaces. Moreover, the free-standing & portable induction cooktops segment is expected to witness the fastest growth at CAGR of 6.4% during the forecast period. The market is expected to grow, owing to the technological advancements such as, manual menu control option & resistance to voltage fluctuation, availability in single or double zones, portability of the cooktop, and others.

The retail sales channel dominated the global household induction cooktops market with 87% share in 2015 and is projected to maintain its dominance throughout the forecast period. In addition, customer can have better interaction with the salesperson and can physically see the product specifications and features. However, online sales channel is anticipated to grow at a highest CAGR of 7.6% during the forecast period (20162022). The growth of online sales channel would be driven by convenience, and services such as free delivery and installation of the induction cooktops.

Europe accounted for the major share of the global household induction cooktops market in 2015, and is expected to maintain its dominance during the forecast period, owing to demand for easy to maintain household electric cooking appliances, such as induction cooktops and enhanced consumer awareness. Asia-Pacific is estimated to grow at the highest rate due to increase in the adoption of energy-efficient electrical cooking appliances, booming demand for modular kitchen designs, and extensive economic growth in China, Japan, Singapore, and India.

Have any Query? Ask our Research Experts: https://www.alliedmarketresearch.com/purchase-enquiry/1926

Major Players: LG Electronics, Inc., Whirlpool Corporation, Panasonic Corporation, Koninklijke Philips N.V., TTK Prestige Ltd, Sub-Zero Group, Inc., Electrolux Group, Robert Bosch GmbH, Miele Group, and SMEG S.p.A.

Key Findings of Household Induction Cooktops Market

  • In 2015, built-in induction cooktops accounted for the maximum revenue, and is projected to grow at a notable CAGR of 5.4% during the forecast period.
  • France possessed the largest customer base in Europe household induction cooktops market in 2015, and is anticipated to dominate the market throughout the forecast period.
  • Online mode of sale segment is expected to grow at a highest CAGR of 7.6% during the forecast period.
  • Japan is the major shareholder in the Asia-Pacific household induction cooktop market, accounting for more than 25% share in 2015.

 

Similar Reports:

Household Appliances Market – Global Opportunity Analysis and Industry Forecast, 2018-2025

Household Wipes Market – Global Opportunity Analysis and Industry Forecast, 2019-2026

About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

Media Contact
Company Name: Allied Market Research
Contact Person: David Correa
Email: Send Email
Phone: +1-800-792-5285
Address:5933 NE Win Sivers Drive #205
City: Portland
State: OR 97220
Country: United States
Website: https://www.alliedmarketresearch.com/household-induction-cooktops-market