The global commercial induction cooktops market is anticipated to surpass US$ 17.5 Billion by 2032. North America is set to lead the commercial induction cooktops market in the forecast period. Panasonic Corporation, CookTek, The Vollrath Company, LLC, Garland Group, Elecpro, APW Wyatt, and Equipex are some of the renowned companies in the commercial induction cooktops market
NEWARK, Del., Aug. 19, 2022 /PRNewswire/ -- The global commercial induction cooktops market is projected to reach US$ 17.5 Bn in 2032, with sales growing at a robust CAGR of 8.2% from 2022 to 2032. In 2022, the commercial induction cooktops market is likely to reach an estimated US$ 12.3 Bn, scaling up from a value of US$ 11.6 Bn in 2021. This growth is propelled by the rising number of non-residential development projects occurring all over the world.
The market's future prospects are shaped by various market trends and growth drivers. Here, we have compiled a list of four key market drivers that aid the expansion of commercial induction cooktops.
Commercial induction cooktops, compared to electric or gas cooktops, take up less space and energy. These cooktops are also more long-lasting and efficient. These can easily convert electrical energy into heat and transfer the same to the cookware. These cooktops also lessen the overall cooking time, ensure even distribution of heat, and save energy. Supported by these beneficial properties, the commercial induction cooktops market is predicted to witness impressive growth in the upcoming years.
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Adoption of energy-efficient kitchen appliances
The increasing adoption of energy-efficient kitchen appliances is one of the major factors that fuel the commercial induction cooktops market growth. The rising cost of cooking fuel is encouraging a lot of people to adopt induction cooktops or other energy-saving cooking solutions. This will likely bode well for the global market.
Urbanization and changing lifestyles
Rapid urbanization coupled with swiftly changing lifestyles are pushing the commercial induction cooktops market towards growth. A fast-paced urban lifestyle induces consumers to opt for time and energy-saving cooking solutions. A large number of the urban population shows an inclination for convenient food products and a willingness to eat out. This is expected to drive the sales of commercial induction cooktops.
The rise of eateries and fast-food centers
In recent times, there's been a notable surge in the number of eateries and fast food restaurants all over the globe. A fast-paced urban lifestyle, increasing disposable income, and busy lifestyles encourage consumers to frequent these eateries. Thus driving the sales of commercial induction cooktops.
Rising market investments
Another factor that is responsible for the market expansion of commercial induction cooktops is the increasing investments by various real estate companies in the development of commercial infrastructure. Additionally, with non-residential development projects on the rise, demand for commercial induction cooktops is also expected to rise in the next few years.
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Key Segments Profiled in the Commercial Induction Cooktops Industry Survey
By Number of Hobs:
- Single Hob Commercial Induction Cooktops
- Double Hob Commercial Induction Cooktops
- Multi Hob Commercial Induction Cooktops
By Type of Installation:
- Countertop Commercial Induction Cooktops
- Drop-In Commercial Induction Cooktops
- Floor-Standing Commercial Induction Cooktops
By End User:
- Restaurants
- Hotels
- Canteens
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer's
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter's Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Commercial Induction Cooktops Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) & Volume (000 Units) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) & Volume (000 Units) Projections, 2022-2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Commercial Induction Cooktops Market Analysis 2017-2021 and Forecast 2022-2032, By Power Rating
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Mn) & Volume (000 Units) Analysis By Power Rating, 2017-2021
5.3. Current and Future Market Size Value (US$ Mn) & Volume (000 Units) Analysis and Forecast By Power Rating, 2022-2032
5.3.1. 1 - 2 kW
5.3.2. 2 - 3.5 kW
5.3.3. 3.5 - 5 kW
5.3.4. 5 - 8 kW
5.3.5. 8 - 10 Kw
5.4. Y-o-Y Growth Trend Analysis By Power Rating, 2017-2021
5.5. Absolute $ Opportunity Analysis By Power Rating, 2022-2032
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