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Commercial Induction Cooktop Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, Germany, UK, France - Size and Forecast 2024-2028

Commercial Induction Cooktop Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, Germany, UK, France - Size and Forecast 2024-2028

Published: Jul 2024 174 Pages SKU: IRTNTR70056

Market Overview at a Glance

$6.09 B
Market Opportunity
7.73%
CAGR
7.02
YoY growth 2023-2024(%)

Commercial Induction Cooktop Market Size 2024-2028

The commercial induction cooktop market size is forecast to increase by USD 6.09 billion at a CAGR of 7.73% between 2023 and 2028.

  • The market is experiencing significant growth due to the increasing preference for energy-efficient cooking processes. Induction cooktops, which use magnetic fields to heat cookware directly, offer several advantages over traditional cooking methods, including faster cooking times, better energy efficiency, and easier cleaning. Furthermore, the influx of technologically advanced commercial induction cooktops with features such as programmable cooking functions and temperature control is driving market growth. However, the high initial cost of these cooktops remains a challenge for market expansion. Despite this, the benefits of induction cooking are compelling, and the market is expected to continue its growth trajectory In the coming years.

    • What will be the Size of the Commercial Induction Cooktop Market During the Forecast Period?

    Commercial Induction Cooktop Market Size

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  • The market encompasses the production and sale of high-performance, commercial-grade induction cookers for various kitchen applications. This market caters to a diverse range of industries, including restaurants and eateries, fast-food establishments, hotels, catering services, and culinary companies. Induction cooktops offer several advantages over conventional gas cooktops, such as faster heating times, energy efficiency, and ease of use with touch technology and touch screens. Environmental responsibility is a significant trend driving market growth, as induction cooktops are considered eco-friendly appliances due to their affordability in terms of electricity accessibility and reduced energy consumption. The market also benefits from the increasing popularity of modular kitchens, which allow for seamless integration of induction cooktops into various kitchen designs.
  • The household segment, which includes residential settings, has seen significant growth In the adoption of induction cooktops due to their convenience, safety, and energy efficiency. Commercial-grade induction cookers employ electromagnetic induction technology, which heats the cooking vessel directly, ensuring precise temperature control and uniform cooking results. Online marketing and high-tech product innovation continue to shape the market, making it an exciting and dynamic industry for businesses and consumers alike.

    • How is this Commercial Induction Cooktop Industry segmented and which is the largest segment?

    The commercial induction cooktop industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

    • Type
      • Countertop
      • Drop-in
      • Floor standing
    • End-user
      • Restaurants
      • Hotels
      • Hospitals
      • Commercial offices
      • Others
    • Geography
      • North America
        • US
      • Europe
        • Germany
        • UK
        • France
      • APAC
        • China
      • South America
        • Middle East and Africa

        By Type Insights

        The countertop segment is estimated to witness significant growth during the forecast period. Commercial induction cooktops, a modern and eco-friendly alternative to conventional gas cooktops, are gaining popularity in various kitchen applications. These cooktops, available as free-standing or built-in models, offer several advantages, including expedited cooking times, improved safety protocols, and quick heating with accurate temperature control. Household segment and residential settings primarily use household induction cooktops, while professional kitchens, hotels, restaurants, catering services, and culinary companies opt for commercial-grade induction cookers. companies provide kitchen application packages to cater to diverse cooking demands and streamline processes. Modular kitchens and large-scale culinary operations benefit from induction cooktops due to their energy economy, safety features, and sturdy build.

        As urbanization and changing lifestyles prioritize eco-friendly appliances and affordable electricity accessibility, online marketing of high-tech, energy-efficient induction cooktops is on the rise. Modern induction technology includes touch technology, touch screens, smart kitchens, connected cooktops, IoT platforms, recipe management, temperature control, remote monitoring, and increased effectiveness with energy savings and data-driven insights.


        Commercial Induction Cooktop Market Size

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        The Countertop segment was valued at USD 4.49 billion in 2018 and showed a gradual increase during the forecast period.

        Regional Analysis

        North America is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

        Commercial Induction Cooktop Market Share by Geography

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        Induction cooktops have gained significant traction in commercial kitchens due to their energy efficiency and direct heat transfer technology. The United States Department of Energy's Energy Efficiency Resource Standard (EERS) aims to reduce energy demand and greenhouse gas emissions, making energy-efficient appliances like induction cooktops increasingly important. The growing number of restaurants and eateries in North America, coupled with the focus on sustainable equipment and technology, is expected to drive the market. Household segment and residential settings also favor induction cooktops for their fast heating, improved safety, and accurate temperature control. Modular kitchens and built-in induction ranges cater to specialized cooking demands, streamlining processes and increasing effectiveness.

        Modern induction technology offers energy savings, quick heating, and automatic shut-off features, making it a preferred choice for professional kitchens, hotels, restaurants, catering services, and culinary companies. The integration of smart kitchen solutions, such as IoT platforms, recipe management, and remote monitoring, further enhances the appeal of induction cooktops.


        Market Dynamics

        Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

        What are the key market drivers leading to the rise In the adoption of Commercial Induction Cooktop Industry?

        • Growing inclination toward energy-efficient cooking process is the key driver of the market.Commercial induction cooktops, powered by electromagnetic induction technology, offer several advantages over conventional gas cooktops for businesses. Induction cooking directly transfers energy to the cooking vessel, eliminating energy waste and reducing cooking times. The US Department of Energy conducted a test comparing the energy efficiency of commercial gas cooktops, standard electric cooktops, and induction cooktops. The results showed that induction cooktops consume less energy and offer quicker heating and accurate temperature control. These high-tech, eco-friendly appliances cater to various kitchen applications, including restaurants and eateries, fast-food restaurants, and modular kitchens. The household segment also benefits from induction cooktops in residential settings.

          Businesses can purchase these commercial-grade induction cookers from specialized stores, hypermarkets, and supermarkets. Induction cooktops come with advanced features such as touch technology, touch screens, automatic shut-off, instantaneous heat adjustment, and improved safety protocols. The modern induction technology also enables energy savings, data-driven insights, and increased effectiveness through smart kitchen solutions and IoT platforms. As urbanization and changing lifestyles continue to shape business routines, energy-efficient induction cooktops become essential for large-scale culinary operations, hotels, restaurants, catering services, and culinary companies. With their sturdy build, power capacities, and control features, these induction cooktops cater to specialized cooking demands, streamline processes, and create a safer working environment.

        What are the market trends shaping the Commercial Induction Cooktop market?

        • Influx of technologically advanced commercial induction cooktops is the upcoming market trend.The market is driven by end-users' increasing demand for advanced cooking equipment with high energy efficiency. Induction cooktops, such as Panasonic KY-B84A and CookTek's MC2502FG, offer touch technology and sensors for accurate temperature control. Panasonic's electrostatic touch panels and CookTek's pan indicators enhance the user experience. True Induction's commercial induction cooktops incorporate innovative features, including quick heating, improved safety protocols, and energy savings. These high-tech products cater to various kitchen applications, from household segment in residential settings to professional kitchens in restaurants, hotels, and catering services. Modular kitchens, eateries, fast-food restaurants, and large-scale culinary operations benefit from the sturdy build and power capacities of commercial-grade induction cookers.

          As urbanization and changing lifestyles prioritize eco-friendly appliances and affordable electricity accessibility, energy-efficient induction cooktops are becoming increasingly popular. Online marketing and smart kitchen solutions, including IoT platforms, recipe management, and remote monitoring, further streamline processes and increase effectiveness. Sustainability and environmental considerations are essential factors, making energy-efficient induction cooktops a preferred choice over conventional gas cooktops.

        What challenges does the Commercial Induction Cooktop Industry face during its growth?

        • High initial cost is a key challenge affecting the industry growth.Commercial induction cooktops offer environmental responsibility through energy-efficient cooking solutions, making them an attractive option for food service establishments. However, their high initial investment and requirement for a regular electricity supply and compatible cookware may hinder their widespread adoption. In contrast, conventional gas cooktops remain popular due to their affordability. Kitchen application packages, including restaurants and eateries, fast-food restaurants, and professional kitchens in hotels, catering services, and culinary companies, have unique cooking demands that can be met through modular kitchens and specialized induction cooktops. Modern induction technology provides quick heating, accurate temperature control, improved safety protocols, and energy savings. Businesses can streamline processes and increase effectiveness through smart kitchens, connected cooktops, and IoT platforms, offering recipe management, temperature control, and remote monitoring.

          Despite the initial investment, the long-term benefits, including energy savings and data-driven insights, make commercial induction cooktops a worthwhile investment for businesses prioritizing sustainability and environmental considerations.

        Exclusive Customer Landscape

        The commercial induction cooktop market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the commercial induction cooktop market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

        Commercial Induction Cooktop Market Share by Geography

         Customer Landscape

        Key Companies & Market Insights

        Companies are implementing various strategies, such as strategic alliances, commercial induction cooktop market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.

        Admiral Craft Equipment Corp. - The market encompasses a range of offerings, including countertop induction cookers. These appliances deliver efficient and precise cooking performance through the use of magnetic induction technology. Induction cooktops offer advantages such as quick heating, energy efficiency, and ease of use, making them a popular choice for commercial kitchens. The market for these appliances continues to grow due to their versatility and ability to save time and resources in foodservice operations. Commercial induction cooktops are available in various sizes and configurations to accommodate different kitchen layouts and cooking requirements.

        The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

        • Admiral Craft Equipment Corp.
        • Ali Group S.r.l.
        • Buffalo Cookware
        • Dipo Induction
        • ELAG Products GmbH
        • Elecpro Group Holding Co. Ltd.
        • Equipex LLC
        • Fisher and Paykel Appliances Ltd.
        • Garland group
        • Hatco Corp.
        • Koninklijke Philips N.V.
        • LG Corp.
        • Panasonic Holdings Corp.
        • Robert Bosch GmbH
        • Spring USA Corp.
        • The Middleby Corp.
        • The Vollrath Co. LLC
        • True Induction
        • TTK Prestige Ltd.
        • Whirlpool Corp.

        Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

        Research Analyst Overview

        Induction cooktops have emerged as a popular choice for both household and commercial kitchen applications due to their environmental responsibility and energy efficiency. These high-tech appliances offer several advantages over conventional gas cooktops, making them an attractive option for businesses and families alike. In the household segment, induction cooktops have gained significant traction in residential settings. The convenience and ease of use offered by these appliances, coupled with their modern and contemporary design, make them a desirable addition to modern kitchens. The touch technology and touch screens allow for precise temperature control and quick heating, expediting cooking times and improving safety protocols.

        Moreover, the affordability and accessibility of electricity have made induction cooktops a preferred choice for urbanization and changing lifestyles. The eco-friendly nature of these appliances aligns with the growing trend towards sustainability and environmental considerations. In commercial kitchens, induction cooktops have become increasingly popular in restaurants and eateries, including fast-food establishments. The sturdy build and high power capacities of commercial-grade induction cookers make them suitable for large-scale culinary operations. The quick heating and accurate temperature control ensure increased effectiveness and energy savings, while the improved safety protocols provide a safer working environment. Induction cooktops also offer advanced control features such as automatic shut-off, instantaneous heat adjustment, and energy economy.

        These features make them an attractive option for professional kitchens, hotels, catering services, and culinary companies. The modular kitchen design of induction cooktops allows for customization and specialized cooking demands, streamlining processes and enhancing overall efficiency. The energy-efficient nature of induction technology also aligns with the trend towards smart kitchens and connected cooktops, which offer data-driven insights, recipe management, temperature control, and remote monitoring. In conclusion, induction cooktops offer several advantages over conventional gas cooktops, including environmental responsibility, energy efficiency, and advanced control features. Their popularity in both household and commercial kitchens is a testament to their effectiveness and growing demand In the market.

        The trend towards sustainability and eco-friendly appliances, coupled with the affordability and accessibility of electricity, is driving the growth of the induction cooktop market.


        Market Scope

        Report Coverage

        Details

        Page number

        174

        Base year

        2023

        Historic period

        		 2018-2022

        Forecast period

        2024-2028

        Growth momentum & CAGR

        Accelerate at a CAGR of 7.73%

        Market growth 2024-2028

        USD 6085 million

        Market structure

        Fragmented

        YoY growth 2023-2024(%)

        7.02

        Key countries

        US, China, Germany, UK, and France

        Competitive landscape

        Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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        What are the Key Data Covered in this Commercial Induction Cooktop Market Research and Growth Report?

        • CAGR of the Commercial Induction Cooktop industry during the forecast period
        • Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
        • Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
        • Accurate predictions about upcoming growth and trends and changes in consumer behaviour
        • Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
        • Thorough analysis of the market’s competitive landscape and detailed information about companies
        • Comprehensive analysis of factors that will challenge the commercial induction cooktop market growth of industry companies

        We can help! Our analysts can customize this commercial induction cooktop market research report to meet your requirements.

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        Table of Contents not available.

        Research Methodology

        Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

        INFORMATION SOURCES

        Primary sources

        • Manufacturers and suppliers
        • Channel partners
        • Industry experts
        • Strategic decision makers

        Secondary sources

        • Industry journals and periodicals
        • Government data
        • Financial reports of key industry players
        • Historical data
        • Press releases

        DATA ANALYSIS

        Data Synthesis

        • Collation of data
        • Estimation of key figures
        • Analysis of derived insights

        Data Validation

        • Triangulation with data models
        • Reference against proprietary databases
        • Corroboration with industry experts

        REPORT WRITING

        Qualitative

        • Market drivers
        • Market challenges
        • Market trends
        • Five forces analysis

        Quantitative

        • Market size and forecast
        • Market segmentation
        • Geographical insights
        • Competitive landscape

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        Frequently Asked Questions

        Commercial Induction Cooktop market growth will increase by $ 6085 mn during 2024-2028.

        The Commercial Induction Cooktop market is expected to grow at a CAGR of 7.73% during 2024-2028.

        Commercial Induction Cooktop market is segmented by Type( Countertop, Drop-in, Floor standing) End-user( Restaurants, Hotels, Hospitals, Commercial offices, Others)

        Admiral Craft Equipment Corp., Ali Group S.r.l., Buffalo Cookware, Dipo Induction, ELAG Products GmbH, Elecpro Group Holding Co. Ltd., Equipex LLC, Fisher and Paykel Appliances Ltd., Garland group, Hatco Corp., Koninklijke Philips N.V., LG Corp., Panasonic Holdings Corp., Robert Bosch GmbH, Spring USA Corp., The Middleby Corp., The Vollrath Co. LLC, True Induction, TTK Prestige Ltd., Whirlpool Corp. are a few of the key vendors in the Commercial Induction Cooktop market.

        North America will register the highest growth rate of 33% among the other regions. Therefore, the Commercial Induction Cooktop market in North America is expected to garner significant business opportunities for the vendors during the forecast period.

        US, China, Germany, UK, France

        • Growing inclination toward energy-efficient cooking processThe energy-efficient commercial induction cooktops offer many benefits to consumers. Commercial induction cooktops operate on induction technology is the driving factor this market.
        • which enables energy transfer directly onto the cooking pan. The electric current creates a fluctuating magnetic field is the driving factor this market.
        • which passes on as heat energy is the driving factor this market.
        • using which the food is cooked. This avoids the wastage of energy during cooking. The commercial induction cooktop provides a faster cooking time and less energy consumption compared to the conventional methods. During induction cooking is the driving factor this market.
        • there is no heat dissipation. A boiling water test was done using a commercial gas cooktop is the driving factor this market.
        • electric cooktop is the driving factor this market.
        • and induction cooktop by the US Department of Energy (DOE). The energy efficiency was found to be above 80% for commercial induction cooktops is the driving factor this market.
        • around 70% for electric cooktops is the driving factor this market.
        • and around 40% for gas cooktops. Commercial induction cooktops can make use of 2.5kW out of 2.8kW power. Certain commercial induction cooktops operate only when a pan and the surface come in contact. This helps the induction cooktops to avoid the heat levels around the surroundings. Along with the numerous benefits compared to the other cooking options is the driving factor this market.
        • the vendors of the commercial induction cooktops offer certain features to increase the energy efficiency of the equipment. For instance is the driving factor this market.
        • CookTek offers an adjustable digital timer with heat and temperature controls. The commercial induction cooktops also have an error code detection option to alert the user during food mishaps. Increasing demand for energy efficient products will have a positive impact on the growth of the global market in focus during forecast period. is the driving factor this market.

        The Commercial Induction Cooktop market vendors should focus on grabbing business opportunities from the Countertop segment as it accounted for the largest market share in the base year.