Asia Pacific Induction Hobs Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

APAC Induction Hobs Market Analysis

The Asia-Pacific induction hobs market is expected to register a CAGR of more than 5% during the forecast period. The lockdown in countries due to the COVID-19 pandemic affected them adversely. The majority of the manufacturing sectors, including induction cooktop manufacturing, were hampered by these restrictions. The governments maintained the lockdown for a few months to stop the virus's spread. While it had a significant impact on other industries, the market for induction cooktops was less affected. However, once things returned to normal, demand for induction cooktops considerably increased as people migrated back to their places of employment and chose to utilize more individualized, portable devices.

Asia was the primary contributor with 2.5% of the global increase in clean cooking availability over the past ten years, Asia was the primary contributor. 90% of Asians will have access to pure cooking methods by 2030. More significantly, during the forecast period, the induction stove market is expected to multiply in Asia-Pacific. The region's concentration of top consumer induction cooktop suppliers is a significant contributing factor. According to experts, induction and electric appliances will account for 100% of the revenue of the top six cooktop manufacturers by 2030. Local manufacturers like Bajaj in India, which provide induction stoves at costs that most people find cheap, will also be a significant factor in the move. The assessment period is projected to significantly increase the number of small and medium-sized manufacturing units in developing countries like China, India, and Japan.

Inductions Hobs work on electromagnetism, which provides energy-efficient solutions to customers. As opposed to all other hobs on the market, induction hobs heat the pan directly rather than the hob ring. A magnetic field is activated beneath an induction hob's surface when turned on. The circuit is finished when a pan is placed on the stove, heating the pan's base. Because of this, induction cooking is quick and effective. Every other hob warms the ring, the pan, and the food. However, the process is eliminated by induction.

The fastest method of cooking in the market is induction. It can even outperform a kettle at heating water since it moves faster than gas. The market experienced a boost from several changes, such as kitchen appliance makers upgrading outdated mechanical controls and displays to reduce after-sale costs. Additionally, the market graph may experience a considerable uptick during the projection period because of the rising demand for environmentally friendly appliances and improved access to electricity. In addition, rising demand for modular kitchens is anticipated to support induction hob demand. The advantages of induction hobs, such as their speed, responsiveness, energy efficiency, and convenience of use, have significantly fueled the market's growth.

When compared to conventional electric cooktops, induction cooking has a potential energy savings of between 5% and 20%, and it has an energy savings of over 65% compared to gas.

APAC Induction Hobs Market Trends

This section covers the major market trends shaping the APAC Induction Hobs Market according to our research experts:

Rising Disposable Income and Affluent Standard of Living is Driving the Market

APAC Induction Hobs Industry Segmentation

The report provides a thorough background analysis of the Asia Pacific induction hobs market, including a qualitative and quantitative evaluation, emerging market trends by segments, essential changes in the market dynamics, and a market overview. 

The Asia Pacific induction hobs market is segmented by product type (freestanding, portable induction cooktops and build-in), by application (household and commercial), by distribution channels (supermarkets and hypermarkets, specialty stores, online, and other distribution channels), by regions (China, India, Japan, South Korea, Australia and Rest of the Asia Pacific countries). The report offers Market size and forecasts for Asia Pacific Induction Hobs Market in value (USD Million) for all the above segments.