The recently uploaded report by Bonafide Research – India Induction Cooktop Market Overview, 2021-2026, provides insights on the market, through market size by value & volume and market share by category, region, sales channel & company. Increasing awareness regarding safety has been attracting consumers towards advanced cooking appliances. The technology of the induction cooktop generates an electromagnetic field and transfer heat directly to the metal cookware that is made of ferrous metals such as steel and iron.
The enormous growth of the induction cooktop market is formed by its functionality, technology, energy efficiency, and aesthetics. In India, the induction cooktop market has much greater volume shares as compared to electric cookers. There has been an increase in the adoption of induction cooktops accounted for more than 10 Million Units in the year 2020-21. The demand of modular kitchen, increasing-price of LPG fuel, number of working women, expanding middle class and rising availability has made the market more attractive and popular. Moreover, the fact that most of the Indian dishes can be prepared using an induction cooktop has added to its popularity, allowing the market to grow with an anticipated CAGR of more than 12% in terms of volume.
The sales have been very aggressive in northern and western regions of India whereas other regions are also expected to create demand in the forecast period due to increasing awareness of the product and the high living standard of consumers. The north and west regions together are expected to be contributing to nearly 60% of the market share by the end of the forecasted period of 2026. Delhi, Chennai, Mumbai, Bangalore, and Pune are the major cities in case of sales value and volume. Portable, single and standalone units of induction stoves are also available in the market to attract Indian consumers which are driving the demand for induction cooktops.
The induction cooktop market is segmented into three categories- Up To 1599 W, 1600-1999 W, and 2000 W & more segments. The market is led by the Up to 1599W segment with a marginal difference from the following segment of 1600-1999 W. However, the 2000 W & more segments are expected to grow with an anticipated CAGR of more than 12%. Supermarkets, convenience stores, and hypermarkets have emerged as key points-of-sale offering a wide range of such modern appliances in the country. Big retail players such as Big Bazaar, Croma, Reliance Digital, etc. have proven to be a major contributor in increasing the awareness level among Indian consumers. Prestige, Bajaj, Preethi, and Pigeon are some of the leading brands operating in the induction cooktop market of India. Advances in online marketing and the increase of digital media use for marketing are the key factors that contribute to the growth of the induction cooktop industry in the country. An increase in the adoption of technologically advanced and high-tech products is to contribute to the growth of e-commerce websites, thereby enhancing the market size.
Key Players mentioned in the report are: Butterfly Gandhimathi Appliances Limited, Preethi Kitchen Appliances Private Limited , Stovekraft Private Limited, TTK Prestige Limited, V-Guard Industries Limited, Whirlpool Of India Limited, Wonderchef Home Appliances Pvt. Ltd
The report gives an in-depth understanding of Induction Cooktop market in India:
- India Electric Kitchen Appliance Market Outlook
- India Induction Cooktop Market Size by Value & Forecast
- India Induction Cooktop Market Size by Volume & Forecast
- India Induction Cooktop Market Share by Category, Sales Channel, Region and Company
- Product, Price and Variant Analysis of Induction Cooktop
- The key vendors in this market space
This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
Report Methodology: The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various channel partners of induction cooktop and electric cooker in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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