Global Household Induction Cooktops Market Size, Share, Growth Analysis Report - Forecast 2034

Household Induction Cooktops Market Size

The global household induction cooktops market size was worth around USD 15.00 Billion in 2024 and is predicted to grow to around USD 24.49 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 5.6% between 2025 and 2034.

The report analyzes the global household induction cooktops market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the household induction cooktops industry.

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Household Induction Cooktops Market: Overview

An induction cooktop warms food by transmitting currents from an electromagnetic field under the glass surface to magnetic induction cookware above it. It warms this cookware straight without the use of a burner or flame, unlike thermal conduction. An induction cooktop could indeed heat cookware quicker than almost any medium since it does not require a separate heating source. Induction cooking is an exceedingly efficient choice that allows the customer better management over the cooking than traditional options since it provides direct heat to cookware. Furthermore, because the heat is generated directly, the temperature is considerably more consistent than with gas or electric ranges.

Induction cooktops work on electricity and are used for cooking food in an effortless and efficient manner. Induction cooktops have a fast and instant response to change in temperature setting. Cook-tops are praised for their superior cooking performance and designs. The key factor responsible for the market growth is increasing demand for the household induction cooktops especially among working women’s. Rising fuel prices are also responsible for increased use of induction cooktops among consumers which is expected to propel the household induction cooktops market over the forecast period. The induction cooktops market is anticipated to be driven by the growing modern lifestyle of the people. Induction cook-tops market will gain prominent growth due to increasing awareness among consumers about the smart kitchen appliances.

Key Insights

• As per the analysis shared by our research analyst, the global household induction cooktops market is estimated to grow annually at a CAGR of around 5.6% over the forecast period (2025-2034).
• Regarding revenue, the global household induction cooktops market size was valued at around USD 15.00 Billion in 2024 and is projected to reach USD 24.49 Billion by 2034.
• The household induction cooktops market is projected to grow at a significant rate due to increasing consumer preference for energy-efficient, safe, and faster cooking solutions, coupled with rising awareness of modern kitchen appliances and growing disposable incomes.
• Based on Type, the Built-In Induction Cooktops segment is expected to lead the global market.
• On the basis of Distribution Channel, the Online segment is growing at a high rate and will continue to dominate the global market.
• Based on region, Asia-Pacific is predicted to dominate the global market during the forecast period.

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Household Induction Cooktops Market: Growth Drivers

Growing demand for household induction cooktops to boost the market

The desire for household induction cooktops is strong among the metropolitan population, particularly in developing countries due to reasons such as a rise in the working population, improved infrastructure, and increased purchasing power. In addition to this, factors like the budding trend for modular kitchens and the growing fuel expenses for traditional gas cooktops, as well as the safety and comfort profits for consumers, are driving the global household induction cooktops market. Also, induction cooktops are currently popular among working women and the urban population due to their convenience of use. All these factors are ultimately leading to an increase in demand for household induction tops thereby fostering market growth. Moreover, an increase in sales of household induction cooktops through e-commerce platforms owing to huge discounts & convenience in its delivery as well as growing digitalization are some of the key aspects that are also fostering the market growth.

Household Induction Cooktops Market: Restraints

High costs associated with the induction cooktops to hinder the market growth

Although induction cooktops are becoming more affordable, they are still much more pricey than gas or ceramic cooktops. Thus, less inclination towards induction cooktops is extensively observed in countries with low and middle-income countries owing to less spending power and low disposable income. In addition to this, less penetration of the market in these countries is also one of the factors that is limiting the growth of the market.

Household Induction Cooktops Market: Opportunities

Technological advancement is boosting the market during the forecast period.

For generations, millions of homeowners and those who learned to cook over an open flame have preferred pro-style gas stoves, but that is progressively changing. Induction cooking is creeping closer to overtaking gas cooking in the next years. Manufacturers are emphasizing the advantages of connection in their products. Induction cooktops and vent hoods have recently been linked to smart sensor operations by numerous brands. Another perk is that if a cooktop is left unaccompanied or requires service, an alarm is sent to the owner's phone. In addition to this, natural gas's projected phase-out in residential construction in California by 2045 is not a certain fact, but it is a noticeable movement, and several golden state countries and cities are indeed enforcing limits on its usage in new houses. The influential California Air Resources Board is pushing for "better kitchen venting rules and electrification of equipment, such as space & water heaters, furnaces, ovens, and stoves in the 2022 code era for all new buildings," according to the journal. All such factors are expected to open new opportunities for the growth of the global household induction cooktops market during the forecast period.

Household Induction Cooktops Market: Challenges

Growing popularity of microwaves and ovens acts as a challenge to market growth

The rising popularity of microwaves and ovens is a critical aspect limiting product demand. Microwaves and ovens have a number of advantages over induction stoves, including time efficiency and convenience, which leads to customer demand. Steam ovens, on the other hand, have long been popular in professional settings and are now making inroads into the residential/household market. Steam ovens shorten cooking time while keeping the food's nutritional value. Steam cooking utilizes less energy due to the shorter cooking time. Many prominent cooking appliance manufacturers have recently added steam-cooking capabilities to their classic ovens and cookers/ranges. There is now a higher degree of interest among individuals who wish to experiment with steam cooking at home. Thus, the rising popularity of microwaves and ovens among the people may hamper the market growth.

Household Induction Cooktops Market: Segmentation Analysis

The global household induction cooktops market is categorized based on type, distribution channel, and region. The household induction cooktops market will witness an extensive growth in the coming years. The household induction cooktops market is categorized on the factors such as type, size, and distribution channel.

Based on the type, the household induction cooktops are classified into free-standing cooktops and integrated cooktops. Based on the size, the global household induction cooktops market is categorized into large, medium, and small sized.

By distribution channel, the market is fragmented into online stores, specialty stores, supermarkets, and others. The market growth is mainly driven by the growing use of cooktops among working women, rising awareness about consumer products, a growing number of smaller households across the world. Therefore, the household induction cooktops market may gain more value share in the coming years. 

Household Induction Cooktops Market: Report Scope

Recent Developments

• In April 2022, Equator Appliances introduced two novel portable induction cooktops. The PIC 200N (dual-burner) and PIC 100 (single-burner) are portable devices that may be used both outdoors and indoors.
• In April 2020, TTK Prestige, India's leading kitchen appliance company, introduced the PIC 31.0 revolutionary induction cooktop, which has a pre-set pressure cooking menu, a first in India.

Household Induction Cooktops Market: Regional Landscape

Europe to lead the market during the forecast period.

Among the regions, Europe is predicted to rule the global household induction cooktops market during the forecast period. On the other hand, Asia Pacific is expected to be the fastest-growing region of the market, trailed by North America. Customers in the region, particularly in India and China, are predicted to become more urbanized and have greater spending power, propelling the market forward. Moreover, the market expansion is also due to the changing lifestyle and rising tendency toward sophisticated appliances in this region.

Household Induction Cooktops Market: Competitive Analysis

The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the household induction cooktops market on a global and regional basis.

The global household induction cooktops market is dominated by players like:

• TTK PRESTIGE LIMITED
• SUB-ZERO GROUP Inc.
• PANASONIC CORPORATION
• LG ELECTRONICS INC.
• WHIRLPOOL CORPORATION
• MIELE GROUP
• ELECTROLUX GROUP
• SMEG S.P.A
• ROBERT BOSCH GMBH
• KONINKLIJKE PHILIPS N.V.

The global household induction cooktops market is segmented as follows;

By Type

• Built-In Induction Cooktops
• Free-Standing Induction Cooktops

By Distribution Channel

• Online
• Specialty Stores

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America