Italy Induction Cooktop Market Research Report, 2028

Italy Induction Cooktop Market Research Report, 2028

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

The induction cooktop market in Italy is growing, driven by increasing consumer demand for energy-efficient and technologically advanced home appliances. Italian consumers place a strong emphasis on high-quality products and innovative technology, which has helped drive the popularity of induction cooktops in the country. In recent years, the market has seen a significant rise in the number of high-end induction cooktops that offer precise temperature control and rapid heating, as well as other advanced features such as built-in sensors and smart connectivity. The trend towards smart homes has also driven growth in the induction cooktop market in Italy, as consumers seek appliances that can integrate with other smart home devices and be controlled remotely. In terms of market share, Italian brands such as Smeg and Bertazzoni are well-established in the global induction cooktop market, and are also popular in the domestic market. These brands offer a wide range of products, from entry-level models to high-end models that cater to the premium segment. According to the research report, "Italy Induction Cooktop Market Research Report, 2028," published by Actual Market Research, the market is anticipated to add USD 345.12 Million. When compared to electric and gas cooktops, induction cooktops are one of the most energy-efficient appliances since the energy consumed is transferred to the food. Buyers will enjoy that these cooktops consume less energy, which is healthier for the environment and may potentially reduce power bills. And, when it comes to residences, more potential buyers are putting energy efficiency at the top of their wish list, with buyers finding it a highly desired feature. As a result, changing LPG stoves to induction stoves could be one of the policy solutions employed by governments around the world to achieve energy sustainability and reduce carbon emissions. Several technological improvements, such as kitchen appliance manufacturers replacing antiquated mechanical controls and displays with touch technology to minimize dependability and after-sale costs, will drive market expansion. Touch screens with huge images are also gaining popularity. Consumers are projected to acquire technology-driven kitchen devices due to constantly changing work and family routines, greater need for eco-friendly products, and more inexpensive electricity accessibility. According to the World Bank, Italy's population is 59.07 million people, Rural areas have 56.5 million people, while urban areas have 56.5 million. The World Bank estimated that Italy's GDP in 2021 was 2.1 trillion USD, with an inflation rate of 1.9% and a per capita income of USD 35,551.3. A total consumption on household appliances was almost USD 8 Billion in 2020 and there are around 26 million residences. Therefore, there is still a tonne of theoretical potential for the bathroom fixture market. Households are rising at a rate of 0.713%, which is a very high rate, according to the Italy NSO census statistics. Growing number of population and increasing per capita income of people are the external driving factors for induction cooktop market in Italy. Also, the increasing inflation leads to increase in price which leads to increase of profit for the companies. The setup cost of induction cooktops and price variability throughout the market may stymie market expansion. Despite this, advanced features such as improved energy efficiency, compact designs, and effective safety management, as well as the creation of unique and less priced induction cooktops, may create new opportunities for the worldwide induction cooktops market to grow further. With the energy crisis and rising costs, nearly one-fifth of Italians (19%) have already given up using the stove to save money by cooking less and turning to dishes that do not require cooking. This is the impact of expensive energy in the country's kitchens, where another 53% have taken steps to combine the desire to continue bringing cooked food to the table with the need to reduce the use of stoves, contributing to the government's energy-saving campaign launched with Minister Cingolani's decree. To encourage citizens' dedication to saving, Campagna Amica's peasant cooks have created a vademecum spanning from paying attention to dish use to adjusting cooking hours and procedures. Thus, the market will benefit from the energy-saving efficiency of induction cooktops. Also, the Italian government has prioritised energy and climate change on its political agenda. The national energy and climate strategy has very aggressive renewable energy targets for 2030, aiming for 30% total energy consumption and 55% power generation, which is fantastic news for the induction cooktop market.ArredoItaliano, Infinity Surfaces and others are the best Italian companies operating in Italy. Satur-Merulana, Smeg Store Roma, Signature Kitchen Suite, etc. are the speciality stores in Italy. A&O, Ali, Bennet, Carrefour, Conad, Coop, Crai, Decò, Despar and others are the popular supermarkets and hypermarkets in Italy. Retail establishments, which make up the offline distribution channel, held the majority of the market. In the past, retail establishments were the only places to find induction cooktop. Customers were assisted in making their selections from a variety of goods at these locations. The household induction cooktops market is expanding due to developments in internet marketing and an increase in the usage of digital media for product promotion. Increased acceptance of technologically innovative and high-tech items is likely to fuel the rise of kitchen appliance e-commerce websites, propelling the domestic induction cooktop market. Considered in this report • Geography: Italy • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Italy 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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