Global Induction Cooktops Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Product;

Built-In and Free-Standing.

By Application;

Household and Commercial.

By Distribution Channel;

Hypermarkets & Supermarkets, Specialty Stores, and Online.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn954365583 Published Date: March, 2025 Updated Date: April, 2025

Introduction

Global Induction Cooktops Market (USD Million), 2021 - 2031

In the year 2024, the Global Induction Cooktops Market was valued at USD 21,217.67 million. The size of this market is expected to increase to USD 35,477.14 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 7.6%.

The global induction cooktops market has witnessed substantial growth driven by increasing adoption of energy-efficient and technologically advanced cooking appliances. Induction cooktops are gaining popularity due to their faster cooking times, precise temperature control, and safety features compared to traditional gas or electric cooktops. These appliances utilize electromagnetic induction to directly heat cookware, ensuring efficient energy use by heating only the pan and its contents without wasting heat around the stove.

In recent years, rising consumer preference for sleek, modern kitchen designs coupled with growing awareness about environmental sustainability has further propelled the demand for induction cooktops. Advancements in induction technology have led to improved efficiency, enhanced cooking capabilities, and integration of smart features, appealing to both residential and commercial consumers worldwide. The market is characterized by a competitive landscape with key players continuously innovating to introduce compact, user-friendly models that cater to diverse cooking needs and preferences.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product
    2. Market Snapshot, By Application
    3. Market Snapshot, By Distribution Channel
    4. Market Snapshot, By Region
  4. Global Induction Cooktops Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Energy Efficiency and Environmental Sustainability

        2. Technological Advancements in Induction Technology

        3. Safety and Precision Cooking Features

        4. Changing Consumer Preferences and Lifestyle Trends

      2. Restraints
        1. Higher Initial Cost Compared to Traditional Cooktops

        2. Compatibility Issues with Certain Cookware Types

        3. Perceived Complexity in Operating Induction Technology

        4. Limited Awareness and Education among Consumers

      3. Opportunities
        1. Rising Demand for Smart and Connected Appliances

        2. Expansion in Emerging Markets

        3. Advancements in Induction Technology and Materials

        4. Increasing Focus on Energy Efficiency and Sustainability

    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Induction Cooktops Market, By Product, 2021 - 2031 (USD Million)
      1. Built-In
      2. Free-Standing
    2. Global Induction Cooktops Market, By Application, 2021 - 2031 (USD Million)
      1. Household
      2. Commercial
    3. Global Induction Cooktops Market, By Distribution Channel, 2021 - 2031 (USD Million)
      1. Hypermarkets & Supermarkets
      2. Specialty Stores
      3. Online
    4. Global Induction Cooktops Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Whirlpool Corporation
      2. LG Electronics Inc.
      3. Electrolux AB
      4. TTK Group
      5. Smeg
      6. Koninklijke Philips N.V.
      7. Robert Bosch GmbH
      8. Panasonic Corporation
      9. General Electric Corporation
      10. Sub-Zero Group
      11. Miele
  7. Analyst Views
  8. Future Outlook of the Market