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Global Induction Stove Market: By Product: Built-in, Free-standing, Portable; By Distribution Channel: Supermarkets/Hypermarkets, E-Commerce Store; By Application: Residential, Others; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Induction Stove Market Outlook

The global induction stove market attained a value of nearly USD 15.9 billion in 2021.  The market is estimated to grow in the forecast period of 2022-2027 at a CAGR of 6.40% to reach about USD 23.1 billion by 2027.

 

Europe Represents a Considerable Market for Induction Stove

Europe holds a significant share in the global induction stove market on account of the rising popularity of induction cooking due to the increasing awareness regarding its energy benefits. The increasing adoption of induction stoves in homes, the expansion of key market players like Robert Bosch GmbH, and the introduction of innovative marketing strategies by the leading companies are influencing the market growth of induction stove in the region. Meanwhile, the Asia Pacific region is expected to witness significant growth on account of the surging demand for clean and hassle-free cooking technology owing to rapid urbanisation and the increasing disposable income of consumers. The increasing preferences for contemporary appliances and the rising adoption of modular kitchens in emerging countries like China and India are expected to aid the market, which is anticipated to significantly contribute to the market for induction stove in the forecast period.

 

Market Segmentation

An induction stove refers to a cooking surface that heats by shifting currents from an electromagnetic field placed below the glass surface directly to the magnetic induction cookware placed above. Induction stoves heat faster than electric and gas counterparts, due to which it facilitates fast cooking results. Moreover, induction stove posits various benefits such as easy cleaning, energy-efficiency, and cost-effectiveness.

The market for induction stove, by product, is divided into:

  • Built-in
  • Free-standing
  • Portable

The market can be broadly categorised on the basis of distribution channels into:

  • Supermarkets/Hypermarkets 
  • E-Commerce Store

Based on application, the market is segmented into:

  • Residential
  • Commercial

The EMR report looks into the regional markets of induction stove like Latin America, North America, Europe, the Asia Pacific, and the Middle East and Africa.

 

Expansion of the Commercial and Residential Sectors to Boost the Market Growth of Induction Stove

The induction stove market is expected to grow on account of the increasing commercial and residential expansion projects and the growing demand from home and professional chefs for pro-style gas ranges. With an increase in the number of restaurants and the growing food industry, the adoption of induction stoves is expected to propel. The changing lifestyle and increasing demand for a safe way to cook among consumers are also boosting induction stove demand as it does not release gas into the air and does not catch fire, which is expected to bolster the market growth in the forecast period. Based on application, the residential segment is expected to fuel the market growth as induction stove is increasingly preferred in homes due to their excellent cooking results, cool cooking surfaces, and enhanced energy-efficiency.

 

Key Players in the Global Market for Induction Stove

The report presents a detailed analysis of the following key players in the global induction stove market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Robert Bosch GmbH 
  • Samsung Electronics Co., Ltd.
  • Whirlpool Corporation 
  • LG Electronics Inc.
  • Panasonic Corporation 
  • Others

The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Application
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Induction Stove Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Induction Stove Historical Market (2017-2021) 
    8.3    Global Induction Stove Market Forecast (2022-2027)
    8.4    Global Induction Stove Market by Product
        8.4.1    Built-in
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Free-standing
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
        8.4.3    Portable
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2017-2021)
            8.4.3.3    Forecast Trend (2022-2027)
    8.5    Global Induction Stove Market by Distribution Channel
        8.5.1    Supermarkets/Hypermarkets
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    E-Commerce Store
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
    8.6    Global Induction Stove Market by Application
        8.6.1    Residential
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Commercial
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
    8.7    Global Induction Stove Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Robert Bosch GmbH
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Samsung Electronics Co., Ltd.
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Whirlpool Corporation
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    LG Electronics Inc.
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Panasonic Corporation
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Others
13    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Induction Stove Market: Key Industry Highlights, 2017 and 2027
2.    Global Induction Stove Historical Market: Breakup by Product (USD Million), 2017-2021
3.    Global Induction Stove Market Forecast: Breakup by Product (USD Million), 2022-2027
4.    Global Induction Stove Historical Market: Breakup by Distribution Channel (USD Million), 2017-2021
5.    Global Induction Stove Market Forecast: Breakup by Distribution Channel (USD Million), 2022-2027
6.    Global Induction Stove Historical Market: Breakup by Application (USD Million), 2017-2021
7.    Global Induction Stove Market Forecast: Breakup by Application (USD Million), 2022-2027
8.    Global Induction Stove Historical Market: Breakup by Region (USD Million), 2017-2021
9.    Global Induction Stove Market Forecast: Breakup by Region (USD Million), 2022-2027
10.    North America Induction Stove Historical Market: Breakup by Country (USD Million), 2017-2021
11.    North America Induction Stove Market Forecast: Breakup by Country (USD Million), 2022-2027
12.    Europe Induction Stove Historical Market: Breakup by Country (USD Million), 2017-2021
13.    Europe Induction Stove Market Forecast: Breakup by Country (USD Million), 2022-2027
14.    Asia Pacific Induction Stove Historical Market: Breakup by Country (USD Million), 2017-2021
15.    Asia Pacific Induction Stove Market Forecast: Breakup by Country (USD Million), 2022-2027
16.    Latin America Induction Stove Historical Market: Breakup by Country (USD Million), 2017-2021
17.    Latin America Induction Stove Market Forecast: Breakup by Country (USD Million), 2022-2027
18.    Middle East and Africa Induction Stove Historical Market: Breakup by Country (USD Million), 2017-2021
19.    Middle East and Africa Induction Stove Market Forecast: Breakup by Country (USD Million), 2022-2027
20.    Global Induction Stove Market Structure

Key Questions Answered in the Report

In 2021, the global induction stove market attained a value of nearly USD 15.9 billion.

The market is assessed to grow at a CAGR of 6.40% between 2022 and 2027.

The market is estimated to witness healthy growth in the forecast period of 2022-2027 to reach almost USD 23.1 billion by 2027.

The major market drivers are rapid urbanisation, the rising awareness regarding energy benefits of induction stove, and the increasing demand for safer cooking.

The key market trends include the growing adoption of induction stove in commercial and residential sectors, the rising preference for clean and hassle-free cooking technology, and the increasing adoption of induction stoves in the foodservice industry.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The various products of induction stove in the market are built-in, free-standing, and portable.

The different distribution channels of induction stove include supermarkets/hypermarkets and e-commerce stores.

The different applications of induction stove in the market are residential and commercial.

The major players in the market are Robert Bosch GmbH, Samsung Electronics Co., Ltd., Whirlpool Corporation, LG Electronics Inc., and Panasonic Corporation, among others.

Analyst Review

The global induction stove market attained a value of nearly USD 15.9 billion in 2021, driven by the rising adoption of induction stoves in the residential sector. Aided by the growing awareness to adopt energy-efficient kitchen appliances among consumers, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 6.40%. The market is estimated to reach about USD 23.1 billion by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. The market for induction stove, by product, is divided into built-in, free-standing, and portable. Based on distribution channel, the market is segmented into supermarkets/hypermarkets and e-commerce stores. On the basis of applications, the market is classified into commercial and residential. The major regional markets for induction stove are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Robert Bosch GmbH, Samsung Electronics Co., Ltd., Whirlpool Corporation, LG Electronics Inc., and Panasonic Corporation, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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