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Global Induction Stove Market to Reach About USD 31.50 Billion by 2032, Aided by the Energy-Efficiency of Induction Stoves

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Induction Stove Market

Global Induction Stove Market Share, Trends, Forecast: By Product: Built-in, Free-standing, Portable; By Distribution Channel: Supermarkets/Hypermarkets, E-Commerce Store; By Application: Residential, Commercial; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global Induction Stove Market Outlook

The global induction stove market attained a value of nearly USD 18.00 billion in 2023. The market is estimated to grow in the forecast period of 2024-2032 at a CAGR of 6.40% to reach about USD 31.50 billion by 2032.

 

induction stove market

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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.

 

induction stove market by segments

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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.

 

induction stove market by region

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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.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Distribution Channel
  • Application
  • Region
Breakup by Product
  • Built-in
  • Free-standing
  • Portable
Breakup by Distribution Channel
  • Supermarkets/Hypermarkets 
  • E-Commerce Store
Breakup by Application
  • Residential
  • Commercial
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Robert Bosch GmbH 
  • Samsung Electronics Co., Ltd.
  • Whirlpool Corporation 
  • LG Electronics Inc.
  • Panasonic Corporation 
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR 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    Opportunities and Challenges in the Market
8    Global Induction Stove Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Induction Stove Historical Market (2018-2023) 
    8.3    Global Induction Stove Market Forecast (2024-2032)
    8.4    Global Induction Stove Market by Product
        8.4.1    Built-in
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Free-standing
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Portable
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Induction Stove Market by Distribution Channel
        8.5.1    Supermarkets/Hypermarkets
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    E-Commerce Store
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Induction Stove Market by Application
        8.6.1    Residential
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Commercial
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)    
    8.7    Global Induction Stove Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Induction Stove Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Induction Stove Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Induction Stove Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Induction Stove Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Induction Stove Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Robert Bosch GmbH
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Samsung Electronics Co., Ltd.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Whirlpool Corporation
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    LG Electronics Inc.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Panasonic Corporation
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Induction Stove Market: Key Industry Highlights, 2018 and 2032
2.    Global Induction Stove Historical Market: Breakup by Product (USD Million), 2018-2023
3.    Global Induction Stove Market Forecast: Breakup by Product (USD Million), 2024-2032
4.    Global Induction Stove Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
5.    Global Induction Stove Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
6.    Global Induction Stove Historical Market: Breakup by Application (USD Million), 2018-2023
7.    Global Induction Stove Market Forecast: Breakup by Application (USD Million), 2024-2032
8.    Global Induction Stove Historical Market: Breakup by Region (USD Million), 2018-2023
9.    Global Induction Stove Market Forecast: Breakup by Region (USD Million), 2024-2032
10.    North America Induction Stove Historical Market: Breakup by Country (USD Million), 2018-2023
11.    North America Induction Stove Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Europe Induction Stove Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Europe Induction Stove Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Asia Pacific Induction Stove Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Asia Pacific Induction Stove Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Latin America Induction Stove Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Latin America Induction Stove Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Middle East and Africa Induction Stove Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Middle East and Africa Induction Stove Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Global Induction Stove Market Structure

Key Questions Answered in the Report

What was the global induction stove market size in 2023?

In 2023, the global induction stove market attained a value of nearly USD 18.00 billion.

What is the growth rate of the market?

The market is assessed to grow at a CAGR of 6.40% between 2024 and 2032.

What is the forecast outlook of the market for 2024-2032?

The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach almost USD 31.50 billion by 2032.

What are the major market drivers?

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

What are the key market trends of the global induction stove market?

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.

What are the major regional markets for induction stove, according to the EMR report?

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

What are the various products of induction stove in the market?

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

What are the different distribution channels of induction stove?

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

What are the different applications of induction stove in the market?

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

Who are the key market players, according to the report?

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 18.00 billion in 2023, 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 2024-2032, growing at a CAGR of 6.40%. The market is estimated to reach about USD 31.50 billion by 2032.

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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