China Induction Cooktop Market Research Report, 2028

China Induction Cooktop Market Research Report, 2028

Actual Market Research 30-01-2023 59 Pages Figures : 5 Tables : 11 Region : Asia-Pacific Country : China Category : Consumer Goods & Services Appliances & Equipment

The nation is expanding rapidly, which is causing industries to expand and job possibilities to increase. The demand for induction cooktops has increased as more individuals move to urban areas for work or school since they are a safer, more transportable, and more user-friendly solution. According to World Bank 2020 data, the East Asia-Pacific area is the one where urbanisation is happening the fastest worldwide. With a nominal GDP of about US$18.32 trillion in 2022 and the greatest economy since 2016, when assessed by purchasing power parity, it is the second largest economy in the world (PPP). According to the research report "China Induction Cooktop Market Research Report, 2028," published by Actual Market Research, the China induction cooktop market is expected to add USD 1561.44 million by 2028. Due to greater purchasing power, improved infrastructure, and an increase in the working population, household induction cooktops in China are in high demand. The market for household induction cooktops is primarily driven by the increase in fuel costs for traditional gas cooktops, the expansion of the modular kitchen trend, and the advantages of comfort and safety for consumers. The recent increase in demand for time- and energy-saving cooking gadgets has led to a quick uptake of household induction cooktops. The market for domestic induction cooktops is expanding in part due to the surge in demand for modular kitchens and the implementation of strict government restrictions for energy conservation. The development of the Chinese market for household induction cooktops is primarily driven by improvements in online marketing and an increase in the use of digital media for product marketing. The rise of e-commerce websites for kitchen appliances is anticipated to be a factor in the adoption of more high-tech and technologically advanced items, which will increase the market size for domestic induction cooktops. Due to the electromagnetic fields used to heat pans, some customers worry that induction stoves are dangerous, but in general, they shouldn't be concerned about EMFs from an induction stove. Since they are non-ionizing, they do not directly harm cells or DNA. They emit EMFs with intermediate frequencies. Despite ongoing research, the National Cancer Institute, the Institution of Engineering and Technology, the Directorate-General of Health and Consumer Protection of the European Commission, and the World Health Organization have come to the same conclusion that these EMFs are not dangerous to customers. Induction cooktops are classified into two types: freestanding and built-in. These induction cooktops, often known as "fixed" cooktops, are mounted into the countertop or table. Induction devices that stand alone can be hardwired into the wall or are plug-and-play. In China, both types are trending induction cooktop. China is the world's top exporter of induction cooktop models, sending the majority of these products to Vietnam, India, and the Philippines. The brands available in China for induction cooktops are Midea, Supor, JiuyangJoyong, Povos Pentium, Galanz, and many more. There are more than 170 suppliers of induction cooktops. Although there isn't a single, authoritative product standard to govern the manufacturing of commercial induction cookers in China or the rest of the world, a national standard document titled "Energy Efficiency Limit Values and Energy Efficiency Ratings for Commercial Induction Cookers" is currently collecting input from the industry. More individuals are switching to induction, as they become more aware of the environmental implications of gas. There is no turning back now since it is the future. A rising number of professional chefs are switching to induction for its functionality and sustainability, both in their restaurants and at home. Covid 19 impact: Due to the lockdown imposed in China during the COVID-19 pandemic, the majority of industries were affected. The manufacturing sectors, including induction cooktop manufacture, were hampered by this lockout. For a few months, the governments maintained the lockdown 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 utilise more individualised, portable devices. Considered in this report • Geography: China • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • China Induction Cooktop market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type: • Built-In • Freestanding By Application: • Residential • Commercial By Distribution Channel: • Specialty Store • Hypermarkets & Supermarkets • Online The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Induction Cooktop industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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