Global Residential Induction Cooktops Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Type;

Built-In Induction Cooktops, Free-Standing, and Portable Induction Cooktops

By Distribution Channel;

Supermarkets/Hypermarkets, Specialty Stores, Online Channel, and Others

By End User;

Residential and Commercial

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031)
Report ID: Rn893699968 Published Date: May, 2025 Updated Date: June, 2025

Residential Induction Cooktops Market Overview

Residential Induction Cooktops Market (USD Million)

Residential Induction Cooktops Market was valued at USD 21089.58 million in the year 2024. The size of this market is expected to increase to USD 30678.57 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 5.5%.


Global Residential Induction Cooktops Market Growth, Share, Size, Trends and Forecast

*Market size in USD million

CAGR 5.5 %


Study Period2025 - 2031
Base Year2024
CAGR (%)5.5 %
Market Size (2024)USD 21089.58 Million
Market Size (2031)USD 30678.57 Million
Market ConcentrationMedium
Report Pages399
21089.58
2024
30678.57
2031

Major Players

  • LG Electronics, Inc.
  • Whirlpool Corporation
  • Panasonic Corporation
  • Koninklijke Philips N.V.
  • TTK Prestige Ltd
  • Sub-Zero Group, Inc.
  • Electrolux Group
  • Robert Bosch GmbH
  • Miele Group
  • SMEG S.p.A.
  • Daewoo Electronics Corporation
  • Fisher & Paykel Appliances Holdings Ltd.
  • Glen Dimplex Home Appliances Ltd.,
  • Videocon Industries Limited
  • Bajaj Electricals Ltd
  • Haier Group
  • Morphy Richards
  • Inalsa Appliances
  • Kenwood Limited
  • Butterfly Gandhimathi Appliances Limited

Market Concentration

Consolidated - Market dominated by 1 - 5 major players

Global Residential Induction Cooktops Market

Fragmented - Highly competitive market without dominant players


The Residential Induction Cooktops Market is witnessing strong growth driven by the rising preference for energy-efficient kitchen appliances. Induction cooktops are known to consume approximately 10% to 20% less energy compared to traditional electric and gas stoves. Their efficiency, coupled with faster cooking times and minimal heat loss, is appealing to eco-conscious consumers.

Technological Integration Driving Adoption
Modern induction cooktops now incorporate advanced sensor controls, touch interfaces, and smart connectivity, enhancing convenience and safety. Over 35% of newly purchased cooktops now feature smart functionalities. This integration aligns with the broader trend of smart home adoption, increasing the product's appeal among tech-savvy households.

Rising Urbanization and Modern Lifestyles_
Shifting lifestyles and smaller living spaces have increased the popularity of compact and efficient kitchen appliances. Over 40% of urban households are now opting for induction-based cooking due to the convenience, portability, and safety offered. The demand is further fueled by the growing trend of modular kitchens and minimalist interiors.

Health and Safety Considerations
Induction cooktops offer a safer and cleaner cooking alternative, especially in households with children or elderly members. These appliances reduce the risk of gas leaks and open flames, with over 30% of safety-conscious buyers citing this as a primary reason for purchase. Their easy-to-clean surfaces also support better hygiene and maintenance.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Type
    2. Market Snapshot, By Distribution Channel
    3. Market Snapshot, By End User
    4. Market Snapshot, By Region
  4. Residential Induction Cooktops Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Energy efficiency adoption
        2. Safety and convenience preference
        3. Urbanization and lifestyle changes
        4. Construction and renovation growth
        5. Aesthetic kitchen demand
      2. Restraints
        1. Cookware compatibility issues
        2. Electrical infrastructure requirements
        3. Space constraints
        4. Service and maintenance challenges
        5. Electromagnetic field concerns
      3. Opportunities
        1. Regional customization
        2. Online channel expansion
        3. Awareness campaigns
        4. Smart home integration
        5. Modular kitchen solutions
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Residential Induction Cooktops Market, By Type, 2021 - 2031 (USD Million)
      1. Built-In Induction Cooktops
      2. Free-Standing
      3. Portable Induction Cooktops
    2. Residential Induction Cooktops Market, By Distribution Channel, 2021 - 2031 (USD Million)
      1. Supermarkets/Hypermarkets
      2. Specialty Stores
      3. Online Channel
      4. Others
    3. Residential Induction Cooktops Market, By End User, 2021 - 2031 (USD Million)
      1. Residential
      2. Commercial
    4. Residential Induction Cooktops Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. LG Electronics, Inc.
      2. Whirlpool Corporation
      3. Panasonic Corporation
      4. Koninklijke Philips N.V.
      5. TTK Prestige Ltd
      6. Sub-Zero Group, Inc.
      7. Electrolux Group
      8. Robert Bosch GmbH
      9. Miele Group
      10. SMEG S.p.A.
      11. Daewoo Electronics Corporation
      12. Fisher & Paykel Appliances Holdings Ltd.
      13. Glen Dimplex Home Appliances Ltd.,
      14. Videocon Industries Limited
      15. Bajaj Electricals Ltd
      16. Haier Group
      17. Morphy Richards
      18. Inalsa Appliances
      19. Kenwood Limited
      20. Butterfly Gandhimathi Appliances Limited
  7. Analyst Views
  8. Future Outlook of the Market