Published Date : Apr 22, 2016
Household induction cook-tops are advanced technological innovations that allow cooking or heating through induction. Of late there has been a heightened awareness about saving energy, which has led to the growth of the household induction cook-tops market. Increased demand for safety and health in the kitchen has encouraged the adoption and hence the growth of the household induction cook-tops market.
According to a report published by Transparency Market Research, the global household induction cook-tops market which was valued at US$7.3 bn in 2012 is expected to be worth US$10.5 bn by 2019, expanding at a CAGR of 5.2% between 2013 and 2019.
Increase in Price of Fuels Propels Household Induction Cook-tops Market
The cost of conventional fuels used in the kitchen for cooking or heating such as electricity and gas is soaring high. Thus, there is a demand by the consumers for an alternative and cost effective way of cooking. Since household induction cook-tops are energy efficient, they are preferred, thus propelling the market. Rise in the disposable income of the people across the globe is also one of the factors responsible for the growing adoption of household induction cook-tops. Furthermore, the rising trend of building modular kitchens in modern homes has helped the household induction cook-tops market to grow significantly.
Integrated Cook-tops Dominates the Global Household Induction Cook-tops Market
The global household induction cook-tops market is segmented on the basis of types into free-standing and integrated induction cook-tops. Out of these, the integrated cook-tops dominated the global household induction cook-tops market in 2012 and is expected to retain its position, expanding at a 5.3% CAGR, during the period from 2013 to 2019. Trend of having large and joint families in Europe and the Middle East led to increased demands for built-in cook-tops from these regions. Moreover, these regions generally have large houses with ample dedicated spaces for kitchen thus encouraging the adoption of integrated cook-tops.