Commercial Induction Cooktops Market
Commercial Induction Cooktops Market : Global Industry Analysis 2013 - 2017 and Opportunity Assessment; 2018 – 2028
- Ongoing
- April 2020
- REP-GB-9356
-
This Commercial Induction Cooktops market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Commercial Induction Cooktops market.
Commercial Induction Cooktops Market: Introduction
Induction cooking is considered to be one of the most efficient technologies for cooking in both commercial and residential sectors. Commercial induction cooktops work on the principle of magnetic induction, in which the excitation of eddy currents is done in the presence of an oscillating magnetic field. The process is done in a ferromagnetic cookware and by the joules effect, these induced currents can generate and dissipate heat directly in the cooking vessel for cooking. As a result, there is lower heat loss due to inefficient thermal conduction between cookware and heating element. Commercial induction cooktops can transfer 90% of the consumed energy to food. In comparison, traditional electric systems offer only about 74% of thermal efficiency and gas offers only 40% thermal efficiency.
Furthermore, various configurations of commercial induction cooktops, such as single hob, double hob and multi hob commercial induction cooktops, are available in the market, catering to various requirements. Additionally, based on the type of installation, there are mainly three types of commercial induction cooktops available in the market: countertop, drop-in and floor-standing commercial induction cooktops. The configuration may differ according to the end users in the commercial sectors. The prime end users of commercial induction cooktops are restaurants, hotels, canteens, etc.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Commercial Induction Cooktops Market: Dynamics:
The continuously growing population is creating demand for new technologies which are energy efficient and more reliable. Commercial induction cooktops are more efficient and reliable cooking equipment and according to the Electric Power Research Institute (EPRI), they have a thermal efficiency of 90%. These is expected to be the prime factor contributing to the robust growth of commercial induction cooktops during the forecast period.
Furthermore, petroleum based energy sources, such as LPG gas, are limited and growing awareness about the use of clean energy in the cooking process is driving the market of commercial induction cooktops. The improving compatibility of commercial induction cooktops with multi hob function will lead to decent opportunities for growth in the global market of commercial induction cooktops.
However, the high initial cost of commercial induction cooktops, requirement for induction compatible products for cooking and easy availability and high penetration of gas cooktops are anticipated to be some of the challenges for the growth of commercial induction cooktops market.
Commercial Induction Cooktops Market: Regional Outlook:
The Asia Pacific region is expected to be the most lucrative market for commercial induction cooktops owing to growing urbanization and increasing demand for new alternative for cooking processes. Emerging countries such as, China, India, Japan, etc., are projected to observe significant growth in the market of commercial induction cooktops due to growing number of restaurants and hotels. In Europe, the growing popularity of commercial induction cooktops is projected to drive the market of commercial induction cooktops in the region.
The growing demand for multifunction cooktops from the commercial sector in North America anticipated to drive the commercial induction cooktops market in the region. Latin America and Middle East & Africa also expected to register decent growth in the commercial induction cooktops market.
Commercial Induction Cooktops Market: Market Participants:
Some of the market participants in the global commercial induction cooktops market are:
- Panasonic Corporation
- CookTek
- The Vollrath Company, LLC
- Garland Group
- Elecpro
- APW Wyatt
- Equipex
- True Induction
- Globe Food Equipment Co.
- Lincat Limited
- Buffalo
- Fisher & Paykel Appliances Limited
- ELAG Products GmbH
- Dipo Induction
- Admiral Craft Equipment Corp.
- Hatco Corporation
- Spring USA
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Commercial Induction Cooktops Market: Segmentation:
The Commercial induction cooktops market can be segmented on the basis of number of hobs, type of installation, end use and region.
On the basis of number of hobs, the global commercial induction cooktops market is segmented into:
- Single Hob Commercial Induction Cooktops
- Double Hob Commercial Induction Cooktops
- Multi Hob Commercial Induction Cooktops
On the basis of type of installation, the global commercial induction cooktops market is segmented into:
- Countertop Commercial Induction Cooktops
- Drop-In Commercial Induction Cooktops
- Floor-Standing Commercial Induction Cooktops
On the basis of end user, the global commercial induction cooktops market is segmented into:
- Restaurants
- Hotels
- Canteens
- Others
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Commercial Induction Cooktops Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Commercial Induction Cooktops Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Commercial Induction Cooktops Market report?
In addition to up-to-date market figures and customized of the Commercial Induction Cooktops Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.
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