Induction Cooktops Market to Grow with a CAGR of 7.8% Globally through 2030

Rising demand from commercial sector and technological advancements are driving the Global Induction Cooktops Market in the forecast period.

According to TechSci Research report, “Induction Cooktops Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030F”, the Global Induction Cooktops Market was valued at USD 23.73 Billion in 2024 and is expected to reach USD 37.30 Billion by 2030 with a CAGR of 7.8% during the forecast period. The global induction cooktops market has experienced remarkable growth in recent years. Induction cooktops have gained popularity due to their energy efficiency, safety features, and sleek designs. These cooktops work by using electromagnetic fields to heat cookware directly, making them more efficient than traditional gas or electric stoves. This overview will delve into the major factors driving the market's growth, key trends, challenges, and the competitive landscape. Several factors are driving the growth of the global induction cooktops market.

Firstly, increasing awareness of energy conservation and sustainability has led consumers to opt for induction cooktops, which are significantly more energy-efficient than their gas or electric counterparts. This eco-conscious trend is further amplified by government incentives and regulations promoting energy-efficient appliances.  The global induction cooktops market is experiencing strong growth as households and businesses increasingly shift toward modern, energy-efficient cooking technologies. Unlike conventional gas or electric stoves, induction cooktops rely on electromagnetic fields, enabling faster heating, precise temperature control, and enhanced safety by keeping the cooktop surface relatively cool. This technology is gaining widespread acceptance in both developed and developing economies as consumers demand convenience, eco-friendly appliances, and time-saving solutions in the kitchen. Urbanization, rising disposable incomes, and the growing prevalence of modular kitchens are further encouraging the adoption of induction cooktops as a preferred cooking solution. The commercial segment, particularly in hotels, restaurants, and catering services, is also witnessing rising demand due to the need for efficient and cost-effective cooking methods that comply with stricter safety and sustainability regulations. Despite the positive momentum, the market faces challenges that could hinder its pace of expansion. High initial purchase costs compared to traditional cooking appliances often act as a barrier, especially in price-sensitive regions. Moreover, induction cooktops require compatible cookware with ferromagnetic bases, which adds to the overall cost for consumers and slows adoption in some markets. Infrastructural constraints such as inconsistent electricity supply in developing regions also limit the potential for widespread penetration.

Furthermore, the perception that induction cooking lacks the “traditional flavor” achieved through gas-based cooking continues to affect acceptance among certain consumer groups. Nevertheless, continuous innovation in product design, integration of smart features such as IoT-enabled controls, and declining technology costs are expected to address many of these challenges. Growing awareness about energy conservation and safety, coupled with government initiatives promoting sustainable cooking solutions, positions induction cooktops as a key segment in the evolving global kitchen appliances market.

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The Global Induction Cooktops Market is segmented into product, application, distribution channel, regional distribution, and company.

Based on distribution channel the market is segmented into offline and online, the online channel is the fastest-growing, fueled by the rapid expansion of e-commerce platforms, increased internet penetration, and the convenience of doorstep delivery. Consumers are increasingly relying on online platforms to compare prices, read reviews, and access a wider variety of products, including premium international brands that may not be available in physical stores. Online sales have also been bolstered by aggressive discounting strategies, seasonal offers, and brand partnerships with leading e-retailers. Additionally, the COVID-19 pandemic accelerated the shift toward online purchasing of kitchen appliances, a trend that has continued in the post-pandemic era. Offline retail still plays a crucial role, especially for consumers who prefer hands-on product demonstrations before making a purchase, but the speed of growth is far stronger in digital channels.

Based on region, the Asia-Pacific (APAC) region is the fastest-growing market for induction cooktops, driven by a combination of demographic shifts, economic growth, and changing consumer preferences. Rapid urbanization across countries like China, India, Indonesia, and Vietnam is creating strong demand for modern, space-saving, and energy-efficient kitchen solutions, making induction cooktops highly attractive for both new homeowners and renters. Rising disposable incomes and an expanding middle-class population are encouraging consumers to shift from traditional gas stoves to technologically advanced cooking appliances that offer safety, speed, and convenience. Governments in several APAC countries are also actively promoting the adoption of electricity-based cooking solutions to reduce reliance on liquefied petroleum gas (LPG) imports and to support broader sustainability and energy conservation goals. Moreover, the younger generation in urban centers is embracing modern lifestyles, which includes preference for modular kitchens and smart home appliances, further fueling market growth. The increasing presence of global and domestic appliance brands, coupled with aggressive pricing strategies and product customization for local needs, is enhancing accessibility and accelerating adoption. Additionally, the rapid growth of e-commerce platforms in the region is expanding the reach of induction cooktops, particularly in Tier 2 and Tier 3 cities where offline retail penetration is limited. While infrastructure challenges such as inconsistent electricity supply in certain rural areas remain a restraint, the overall trajectory is positive, making APAC the most dynamic and promising market for induction cooktops in terms of future growth potential.

Major companies operating in Global Induction Cooktops Market are:

• Whirlpool Corp.
• LG Electronics, Inc.
• Electrolux AB
• TTK Group
• Smeg S.p.A
• Koninklijke Philips N.V.
• Robert Bosch GmbH
• Avis Rent a Car System, LLC
• Panasonic Corp.
• Sub-Zero Group, Inc.

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“A unique key trend shaping the global induction cooktops market is the integration of smart technology and IoT-enabled features, transforming the appliance into a connected, intelligent cooking solution. Modern induction cooktops are increasingly being designed with Wi-Fi and Bluetooth connectivity, allowing users to control temperature, cooking time, and power settings remotely through smartphone apps or even voice assistants like Alexa and Google Assistant. This trend caters to the rising consumer demand for convenience, precision, and seamless integration with smart home ecosystems. Additionally, AI-driven features are being incorporated to recognize cookware, suggest optimal cooking modes, and prevent overheating, enhancing safety and efficiency. Some advanced models are even capable of syncing with recipe apps to automatically adjust heat settings for specific dishes, making cooking more intuitive and error-free. This convergence of cooking appliances with digital ecosystems not only differentiates premium products in a competitive market but also aligns with the broader global shift toward connected, sustainable, and technology-driven lifestyles.,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“Induction Cooktops Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product (Built-in, Free-standing), By Application (Residential, Commercial), By Distribution Channel (Offline, Online), By Region, By Competition, 2020-2030F”, has evaluated the future growth potential of Global Induction Cooktops Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Induction Cooktops Market.

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