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Inductions Electromagnetism is used in cooktops to provide clients with energy-efficient options. Induction Cooktops, unlike all other types of cooktops on the market, directly heat the pan rather than the hob ring. When an induction hob is turned on, a magnetic field beneath its surface is activated. When a pan is placed on the stove, the circuit is completed by heating the pan's base. Induction cooking is thus quick and efficient. The ring, pan, and food are all warmed by the other burners. In contrast, induction eliminates the process. Induction cooking is the most efficient method on the market. Because it moves faster than gas, it can even outperform a kettle when it comes to heating water. Several advancements strengthened the business, such as kitchen appliance makers upgrading out-of-date mechanical controls and displays to save after-sales costs. Furthermore, due to rising demand for environmentally friendly appliances and increased access to electricity, the market graph is expected to rise significantly throughout the forecast period. Additionally, rising demand for modular kitchens is likely to support induction hob demand. The benefits of induction hobs, such as their speed, responsiveness, energy efficiency, and ease of use, have significantly fuelled market growth. When compared to typical electric cooktops, induction cooking has a potential energy savings of 5% to 20%, and it has an energy savings of more than 65% when compared to gas.This report comes with 10% free customization, enabling you to add data that meets your specific business needs.
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According to the research report, South America Induction Cooktop Market Outlook, 2028 the market is anticipated to grow at a CAGR of 8.46% during the forecast period. The increasing demand for induction cooktops for home cooking is one of the primary reasons driving the growth of the South American induction cooktops market. According to a study of 1,005 people published in the Brazilian Journal of Nutrition, more than half of the participants said they cooked more frequently after the pandemic than before; 50% said they felt more confident in the kitchen, 73% said they enjoyed cooking, and 51% said they planned to continue cooking at home after the pandemic. Induction cooktops are also growing in popularity due to rising energy consumption and cheap operating costs.
The market has been divided into two categories based on product type: built-in and free-standing. In terms of value, the freestanding category is leading the market with a share of more than 64% in 2022 and increase at a CAGR of 8.75%. The industry is being driven by an increase in the number of residential and commercial development projects. More chefs and manufacturers are promoting induction to construction professionals and customers because to the inherent benefits of the technology. The market has been divided into two sections based on application: residential and commercial. The residential sector will lead the South America market in 2022, with a market share of more than 63%. With numerous new home construction projects underway, demand for induction cooktops is projected to increase. The market has already benefited from the gradual shift away from gas cooktops, and an increasing number of consumers are interested in installing induction cooktops in their homes or large-scale residential projects. This is because people are becoming more aware of its advantages over gas cooktops. The commercial sector is expected to grow at a faster rate, with a CAGR of more than 9% over the projection period. Non-residential facilities like restaurants and hotels also make extensive use of induction cooktops.
In terms of Distribution Channel, the specialty stores segment had the largest revenue share of more than 63% in 2022. Between 2023 and 2028, the internet category is predicted to grow at the fastest CAGR of 12.62%. The South American market for induction cooktops is expanding as a consequence of developments in internet marketing and an increase in the usage of digital media for product promotion. Increased acceptance of technologically innovative and high-tech commodities is expected to promote the growth of kitchen appliance e-commerce websites, hence increasing the market for induction cooktops.
Major Companies present in the market:
Electrolux AB, Robert Bosch GmbH, LG Electronics, Inc., Panasonic Corporation, Midea Group, Whirlpool Corporation, Koninklijke, Philips N.V., Miele, Sub-Zero Group, Inc., Smeg S.p.A.Considered in this report
- Geography: South America
- Historic year: 2017
- Base year: 2022
- Estimated year: 2023
- Forecast year: 2028
Aspects covered in this report
- South America Induction Cooktop market with its value and forecast along with its segments
- Country-wise Induction Cooktop market analysis
- Various drivers and challenges
- On-going trends and developments
- Top profiled companies
- Strategic recommendation
Countries covered in the report:
- Brazil
- Argentina
- Colombia
By Product Type:
- Built-In
- Freestanding
By Application:
- Residential
- Commercial
By Distribution Channel:
- Specialty Store
- Hypermarkets & Supermarkets
- Online
Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Induction Cooktop industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.Table of Contents
1. Executive Summary2. Market Dynamics
2.1. Market Drivers
2.2. Challenges
2.3. Opportunity
2.4. Restraints
2.5. Market Trends
2.6. Covid-19 Effect
2.7. Supply chain Analysis
2.8. Policy & Regulatory Framework
2.9. Industry Experts Views
3. Research Methodology
3.1. Secondary Research
3.2. Primary Data Collection
3.3. Market Formation & Validation
3.4. Report Writing, Quality Check & Delivery
4. Market Structure
4.1. Market Considerate
4.2. Assumptions
4.3. Limitations
4.4. Abbreviations
4.5. Sources
4.6. Definitions
5. Economic /Demographic Snapshot
6. Competitive Landscape
6.1. Competitive Dashboard
6.2. Business Strategies Adopted by Key Players
6.3. Key Players Market Share Insights and Analysis, 2022
6.4. Key Players Market Positioning Matrix
6.5. Consolidated SWOT Analysis of Key Players
6.6. Porter's Five Forces
7. Global Induction Cooktop Market Outlook
7.1. Market Size By Value
7.2. Market Size and Forecast, By Geography
7.3. Market Size and Forecast, By Product Type
7.4. Market Size and Forecast, By Application
7.5. Market Size and Forecast, By Distribution Channel
8. South America Induction Cooktop Market Outlook
8.1. Market Size By Value
8.2. Market Share By Country
8.3. Market Size and Forecast By Product Type
8.4. Market Size and Forecast By Application
8.5. Market Size and Forecast By Distribution Channel
8.6. Brazil Induction Cooktop Market Outlook
8.6.1. Market Size By Value
8.6.2. Market Size and Forecast By Product Type
8.6.3. Market Size and Forecast By Application
8.6.4. Market Size and Forecast By Distribution Channel
8.7. Argentina Induction Cooktop Market Outlook
8.7.1. Market Size By Value
8.7.2. Market Size and Forecast By Product Type
8.7.3. Market Size and Forecast By Application
8.7.4. Market Size and Forecast By Distribution Channel
8.8. Colombia Induction Cooktop Market Outlook
8.8.1. Market Size By Value
8.8.2. Market Size and Forecast By Product Type
8.8.3. Market Size and Forecast By Application
8.8.4. Market Size and Forecast By Distribution Channel
9. Company Profile
9.1. Electrolux AB
9.1.1. Company Snapshot
9.1.2. Company Overview
9.1.3. Financial Highlights
9.1.4. Geographic Insights
9.1.5. Business Segment & Performance
9.1.6. Product Portfolio
9.1.7. Key Executives
9.1.8. Strategic Moves & Developments
9.2. Robert Bosch GmbH
9.3. LG Electronics Inc.
9.4. Panasonic Corporation
9.5. Midea Group
9.6. Whirlpool Corporation
9.7. Koninklijke Philips N.V.
9.8. Miele
9.9. Sub-Zero Group, Inc.
9.10. Smeg S.p.A
10. Strategic Recommendations
11. Annexure
11.1. FAQ`s
11.2. Notes
11.3. Related Reports
12. Disclaimer
List of Figures
Figure 1: Global Induction Cooktop Market Size (USD Billion) By Region, 2022 & 2028
Figure 2: Market attractiveness Index, By Region 2028
Figure 3: Market attractiveness Index, By Segment 2028
Figure 4: Competitive Dashboard of top 5 players, 2022
Figure 5: Market Share insights of key players, 2022
Figure 6: Porter's Five Forces of Global Induction Cooktop Market
Figure 7: Global Induction Cooktop Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 8: Global Induction Cooktop Market Share By Region (2022)
Figure 9: South America Induction Cooktop Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 10: South America Induction Cooktop Market Share By Country (2022)
Figure 11: Brazil Induction Cooktop Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 12: Argentina Induction Cooktop Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 13: Columbia Induction Cooktop Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
List of Tables
Table 1: Global Induction Cooktop Market Snapshot, By Segmentation (2022 & 2028) (in USD Billion)
Table 2: Influencing Factors for Global Induction Cooktop Market, 2022
Table 3: Top 10 Counties Economic Snapshot 2020
Table 4: Economic Snapshot of Other Prominent Countries 2020
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global Induction Cooktop Market Size and Forecast, By Geography (2017 to 2028F) (In USD Billion)
Table 7: Global Induction Cooktop Market Size and Forecast, By Product Type (2017 to 2028F) (In USD Billion)
Table 8: Global Induction Cooktop Market Size and Forecast, By Application (2017 to 2028F) (In USD Billion)
Table 9: Global Induction Cooktop Market Size and Forecast, By Distribution Channel (2017 to 2028F) (In USD Billion)
Table 10: South America Induction Cooktop Market Size and Forecast By Product Type (2017 to 2028F) (In USD Billion)
Table 11: South America Induction Cooktop Market Size and Forecast By Application (2017 to 2028F) (In USD Billion)
Table 12: South America Induction Cooktop Market Size and Forecast By Distribution Channel (2017 to 2028F) (In USD Billion)
Table 13: Brazil Induction Cooktop Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 14: Brazil Induction Cooktop Market Size and Forecast By Application (2017, 2022 & 2028F)
Table 15: Brazil Induction Cooktop Market Size and Forecast By Distribution Channel (2017, 2022 & 2028F)
Table 16: Argentina Induction Cooktop Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 17: Argentina Induction Cooktop Market Size and Forecast By Application (2017, 2022 & 2028F)
Table 18: Argentina Induction Cooktop Market Size and Forecast By Distribution Channel (2017, 2022 & 2028F)
Table 19: Colombia Induction Cooktop Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 20: Colombia Induction Cooktop Market Size and Forecast By Application (2017, 2022 & 2028F)
Table 21: Colombia Induction Cooktop Market Size and Forecast By Distribution Channel (2017, 2022 & 2028F)
