Induction Stove Market Revenue, Future Growth, Trends, Top Key Players, Business Opportunities, Industry Share, Size Analysis by Forecast 2029

The global induction stove market size is expected to showcase significant product sales in the foreseeable future backed by increasing food consumption. This information is published by Fortune Business Insights in its report, titled "Induction Stove Market, 2022-2029". The rising population globally is creating on migration pattern on a domestic and international level. This migrated population settle down permanently or temporarily in various regions and require facilities for cooking. This is also escalating the product utilization across the expanding hotel and restaurant business due to its safety compared to traditional fire stoves. 

COVID-19 Impact

Market Growth Amid Pandemic Owing to Sudden Lockdown

The sudden lockdown across the globe due to the pandemic resulted in in a large amount of population stuck in various places away from their homes. Moreover, many establishments that provided food on regular basis to its customer such as canteens, hostels, and others stopped functioning. This resulted in a significant rise in consumption of induction stoves across the globe. Furthermore, the rising number of cases have made consumers reluctant to consume outside food and cook their own food at home. These factors have contributed majorly to the sales amid pandemic.

Fortune Business Insights™ lists out all the induction stove market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

  • Robert Bosch GmbH
  • Samsung Electronics Co., Ltd.
  • Whirlpool Corporation
  • LG Electroncis, Inc
  • Bajaj Electricals Ltd
  • Panasonic Corporation
  • SMEG S.p.A.

Get a Sample PDF Brochure:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/induction-stove-market-104494

What Does the Report Contain?

The report offers an insight into the profitability, entire structure, and scale. It also studies the drivers and restraints and considers all the potential threats to the market. The critical analysis of marketplace sections, prediction analysis, and expert insights are strategically included in the report. A wide spectrum of data, including regional analysis, market segmentation, industry developments, and key players, are included in the research conducted by market experts.

Driving Factor

Increasing Food Consumption Globally to Aid Market Growth

The increased consumption of food products by the expanding population around the world has resulted in the induction stove market growth. For example, in 2018, the United States department of agriculture published data that average consumption of wheat flour is 132.1 pound. In addition to this, the corn consumption stood at 35.2 lbs. and other grains at 6.2 lbs. The increasing consumption of food and preference for home cooking is the fueling product sales.

Additionally, the rising number of rental homes services such as Airbnb, Flip Key, and Go to Home offer fully furnished establishments even with cooking facilities for their guests. These are the prominent factors that are boosting the market growth currently.

Regional Insights

Increasing Single Person Household in Europe to Generate High Revenue

Europe is anticipated to hold the major induction stove market share in the forthcoming years. This is due to the rising number of single person households which consume induction stove for cooking. For example in 2020, the Directorate-General of the European Commission released data stating that 2010-2019 so an increase of 18.7% in single person households in Europe. In addition to this, the increased preference for sustainable product consumption is augmenting substantial product sales here.

Asia Pacific is projected to showcase substantial product growth in the foreseeable future. This is due to the rising cost of LPG gas in the region. Also, the prominent players of the region are strategically introducing pocket friendly products for the local consumers.

Market Segmentation

On the basis of product, the market for induction stove is divided into built in, free standing, and portable. By application, the product is segmented into residential and commercial. Additionally, the distribution channel bifurcates the market into e-commerce store and supermarket/ hypermarkets. Based on geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Inquire Before Buying This Research Report:

https://www.fortunebusinessinsights.com/enquiry/queries/induction-stove-market-104494

Competitive Landscape

Key Players to Focus on Strategic Product Launches to Generate Profits

The prominent players of the market have a strong portfolio and a history of continuous investment in research and development. They devise strategic product launches along with advanced solutions to propel their product sales. With the wide range of potential opportunities in this market, even the new entrants of the market can easily stabilize their position. This has resulted in the entrance of several domestic players into the market

The Global Induction Stove Market Research/Analysis Report Contains Answers to your following Questions:

  • Which Manufacturing Technology is used for Induction Stove ? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Induction Stove Market? What are Their Company Profile, Their Product Information, and Contact Information?
  • What Was Global Market Status of Induction Stove Market? What Was Capacity, Production Value, Cost and PROFIT of Induction Stove Market?
  • What Is Current Market Status of Induction Stove Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Induction Stove Market Trends by Taking Applications and Types in Consideration?
  • What Are Projections of Global Induction Stove Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
  • What Is Induction Stove Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is Economic Impact On Induction Stove Industry? What are Global Induction Stove Analysis Results? What Are Global Induction Stove Development Trends?
  • What Are Market Dynamics of Induction Stove Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Induction Stove Industry?

Industry Development:

  • October 2020: The Philips Hd4929 Induction Cook Top was announced to be the one of the cheapest induction stove launched by Philips.

Get your Customized Research Report:

https://www.fortunebusinessinsights.com/enquiry/customization/induction-stove-market-104494

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Address:

Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –

Mahalunge Road, Baner, Pune-411045,

Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com

LinkedIn Facebook Twitter

Comments

Post a Comment

Popular posts from this blog

Human Hair Extension Market Analysis by Trends, Size, Share, Company Overview, Growth and Forecast by 2029

The global human hair extension market size was valued at USD 3.71 billion in 2021 and touched USD 4.06 billion in 2022. The market is expected to reach USD 7.63 billion by 2029, exhibiting a CAGR of 9.44% during the forecast period. Rising demand for Vietnamese hair across North American markets and the evolving consumer buying preferences is expected to elevate market growth.  Fortune Business Insights™  provides this information in its report titled “ Human Hair Extension Market, 2022-2029. ” COVID-19 Pandemic Declining Product Demand to Impede Industry Progress This market is expected to be negatively affected during the COVID-19 pandemic due to the declining demand for the product. The alarming spike in COVID-19 patients led to the imposition of stringent COVID-19 restrictions, thereby hindering manufacturing activities. This factor created supply chain disruptions. Further, travel restrictions led to reduced product sales. However, the resumption of lockdown has facilitated to
Read more

Recycling Bins Market Share, Demand, Top Players, Industry Size, Future Growth By 2029

The global recycling bins market size is set to enter a period of prolific expansion owing to surging solid waste generation around the world, shares Fortune Business Insights™ in its report, titled “ Recycling Bins Market Size, Share & Industry Analysis, By Material (Plastic Lumber, Steel, Fiberglass and Others), By applications (Residential, Commercial, Public Places), By Distribution channel (Shopping Malls, Hypermarkets and Supermarkets, Retail Stores, Online)and Regional Forecast, 2022-2029 ”. According to the “What a Waste 2.0” report published by the World Bank (WB) in 2018, worldwide, approximately 2.01 billion metric tons of municipal solid waste is generated every year. The WB predicts that by 2050, the amount of waste generated will rise to 3.40 billion metric tons. Even more shockingly, only 13.5% of this waste is recycled and 5.5% is composted, the WB’s report highlights. Increasing waste generation is detrimental to public health as non-treatment or inefficient dispos
Read more

Wool Carpet Market Size, Analysis, Share, Research, Business Growth and Forecast to 2029

The global wool carpet market size is expected to experience substantial growth during the forecast period. This is attributable to the increasing demand for interior decoration activities and the growing focus on furnishing dilapidated buildings across the globe. This information is published by Fortune Business Insights, in its upcoming report, titled, “Wool Carpet Market Size, Share & Industry Analysis, By Product (Woven wool, Homemade), By End-Use (Residential, Hotel, Offices, Others), By Distribution Channel (Online, Retail Store) and Regional Forecast, 2022-2029 .” COVID-19 has Led to Market Uncertainty Owing to Scarce Availability of Raw Materials The carpet industry is facing adverse effects of the COVID-19 pandemic owing to the lockdown announced by the government agencies to contain the spread of the disease. This has led to the paucity of the raw materials required to produce finer quality wool carpet across the globe. However, collective efforts from the government an
Read more