Commercial Induction Cooktop Market – Industry Analysis, Size, Share, Growth, Trends, and Forecast Report

Market Overview

Ongoing advancements and adoption of advance technology in day to day life, has tremendously evolved the task of cooking. The importance of flame-less, temperature controlled cooking has increased with the growing trend of open kitchen facilities, especially for commercial spaces like hotels, eateries at shopping malls, restaurants, and others. As the operation of induction cooking top involves induction technology, which enables energy transfer directly onto the cooking pan instead of dissipating the heat. This results in quick heating as well as cooking, thereby saving time and energy consumption.

Rising competitiveness and strategic investment adopted by market leaders are expected to show progressive growth for commercial induction cooktop in the near future. For instance, in 2017, Panasonic introduced commercial cooktop which is compatible with all metal cookware, including aluminum and copper. With the launch of a product like this, the peripheral of applications are expected to widen. Moreover, other key vendors such as The Vollrath Company, CookTek, True Induction, APW Wyatt, and Garland Group in the induction cooktop market are continuously innovating on designs, features, and specifications such as improvement in touch-sensitivity of control panels and embedding infra-red sensors in commercial induction cooktop.

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Market Segmentations

Global commercial induction cooktop market is segmented on the following basis:

Based on Installation Type

Countertop Commercial Induction Cooktop
Drop-in Commercial Induction Cooktop
Floor Standing Commercial Induction Cooktop

Based on Geography

North America U.S. & Canada {Market Size USD Billion , Growth Analysis % and Product Sales In Units }
Latin America Brazil , Mexico & Rest of Latin America {Market Size USD Billion , Growth Analysis % and Product Sales In Units }
Europe The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE {Market Size USD Billion , Growth Analysis % and Product Sales In Units }
Asia-Pacific China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia {Market Size USD Billion , Growth Analysis % and Product Sales In Units }
Middle East & Africa GCC, South Africa, North Africa, RoMEA {Market Size USD Billion , Growth Analysis % and Product Sales In Units }
Rest of World {Market Size USD Billion , Growth Analysis % and Product Sales In Units }

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Market Size and Forecast 2016-2024

Owing to the growing adoption of the commercial induction cooktop, the market is expected to witness decent growth in the coming years. The Global Commercial Induction Cooktop Market valued USD 1.38 billion in 2015 and is anticipated to grow at a CAGR of 7.50% during the forecast period.

Geographically, Europe is the dominating region for global commercial induction cooktop market in 2016 and is expected to dominate over the forecast period. Growing demand for energy-efficient and time saving cooking method is likely to contribute in the growth of Europe commercial induction cooktop market. Europe commercial induction cooktop market is expected to reach USD 0.87 billion by the end of 2024. Moreover, high productivity, safe control panels with improved compatibility of commercial induction cooktops is boosting the growth of the commercial induction cooktops business in North America and Asia-Pacific region. North America region accounted for 30% revenue share of commercial induction cooktops market in 2016. Asia-Pacific commercial induction cooktops market is anticipated to reach USD 0.71 billion in 2024.

Market Drivers and Challenges

The growing inclination towards the use of energy-efficient products with high productivity and superior design is one of the key drivers for the global commercial induction cooktop market. Growing trend of flame-less cooking, modern kitchen décor, and ease to use in any environment are some other factors fuelling the adoption of commercial induction cooktops.

On the other hand, the prevalence of conventional gas burners, high initial cost and incapability of such cooktops to function with aluminium, copper pans and glass cookware pose as the restraining factors for the growth of the global commercial induction cooktop market. However, rapid urbanization, increasing awareness, and relatively safer use in commercial as well as closed space are aiding the global commercial induction cooktop market to garner the untapped opportunities.

Key Market Players

APW Wyott
The MiddleBuy Corporation
The Vollrath Company
True Induction
CookTek
Prestige
Panasonic Corporation
Garland Group
Fisher & Paykel Appliances Holdings Ltd
Max Burton
Admiral Craft Equipment Corporation
Globe Food Equipment
Dipo Induction

Scope Background

Market Synopsis
Market Segmentation

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The global commercial induction cooktop market is segmented as follows:

By Installation Types Market Size, Demand Analysis and Growth Analysis

By Regions

North America U.S., Canada {Market Size, Growth Analysis and Opportunity Analysis}
Latin America Argentina, Mexico, Brazil and Rest of Latin America {Market Size, Growth Analysis and Opportunity Analysis}
Europe Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe {Market Size, Growth Analysis and Opportunity Analysis}
Asia-Pacific China, India, Singapore, Japan, Hong-Kong, Australia, New Zealand, South Korea and Rest of Asia Pacific {Market Size, Growth Analysis and Opportunity Analysis}
Middle East and North Africa MENA {Market Size, Growth Analysis and Opportunity Analysis}
Rest of World {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

Risk Factors
Regional Variations
Recent Trends and Developments
Synopsis
Business Strategy
Product Portfolio
SWOT Analysis
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks

Customization of this Report can be done as per client’s requirement.

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