Smart Cooktop Market is projected to reach a Valuation of US$ 2.3 Billion by End of 2031, Transparency Market Research, Inc.

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Jan 19, 2023, 08:30 ET

Fast-paced urbanization and rise in disposable income of individuals in developing countries are likely to create lucrative business opportunities for smart cooktop market

User-friendly and advanced features that are preferred by large volume of consumers is driving smart cooktop market demand

WILMINGTON, Del., Jan. 19, 2023 /PRNewswire/ -- The smart cooktop market size stood at US$ 1.1 Bn in 2021 and is projected to expand at a CAGR of 8.0% from 2022 to 2031, according to the smart cooktop market report by TMR.

A smart cooktop is an electric burner that contains Wi-Fi or Bluetooth connectivity and can be linked to the user's smartphone. Users can use the smartphone app to remotely operate the appliance. The smart touch induction cooktop has gained immense popularity owing to its efficiency. Working-class individuals prefer to cook on smart cooktops as it saves a lot of time. This has led to rise in smart cooktop sales.

Cooktops and cooking ranges are widely acknowledged as the most essential kitchen appliances for everyday use. Smart cooktops are becoming increasingly popular owing to user-friendliness and effectiveness. Technological developments have a substantial impact on the demand for consumer products, particularly domestic cooking appliances such as smart cooktops. These advancements have resulted in smart cooktops with improved designs and greater efficiency, which are driving the smart cooktop market growth.

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Smart Cooktop Market: Growth Drivers

Numerous smart cooktop models are available with a dual-fuel option, which combines the benefits of both cooking techniques by employing an electric oven and a gas stove. These advantages offered by smart cooktops are propelling smart cooktop market development.
Increase in spending and shifting lifestyles in developing countries are driving the expansion of the smart cooktop market. Rapid urbanization and industrialization activities leading to new building projects are anticipated to augment the smart cooktop market during the forecast period. Moreover, cost-effectiveness and various advantages over conventional cooktops are estimated to bolster smart cooktop industry growth.

Key Findings of Smart Cooktop Market

Several types of heating and cooking technologies, including convection, infrared heating, and adding or repositioning classic heating components for more accurate cooking, help meals cook more evenly and rapidly. These market trends are anticipated to increase demand for smart cooktops in the near future.
Practice of controlling or connecting smart cooktops to other smart home devices, such as Google Home, using voice commands has gained traction. These offer the same functions as traditional cooktops, but the adjustable hob layout and induction burners reduce cooking time. Several smart cooktops types, including smart induction stoves, smart induction cooktops, smart gas cooktops, and smart electric cooktops, include two independent cooking zones, which allow users to cook various items at different temperatures simultaneously. These features have led to increase in adoption of smart cooktops, which in turn are fueling market development.

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Smart Cooktop Market: Regional Landscape

North America is anticipated to dominate the global market due to consumer preference for cutting-edge kitchen appliances
Asia Pacific market outlook is optimistic due to the increase in purchasing power of individuals. Low labor cost and availability of cost-effective raw materials in the region have resulted in increase in manufacturing capacities of home kitchen appliances. These factors are likely to augment the market for smart cooktops in Asia Pacific in the next few years.

Smart Cooktop Market: Competitive Landscape

The global smart cooktops market is consolidated, with a few large-scale players accounting for a substantial portion of the market. Manufacturers of smart cooktops invest in extensive research and development activities, particularly to offer customized products with modern technology. Key market participants are concentrating on the expansion of product portfolio and merger & acquisition in order to increase revenue and consolidate their position in the market.

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Leading companies operating in the global smart cooktop market include:

BSH Home Appliances Corporation
Miele
Haier business
Berbel Ablufttechnik GmbH
Cooking Surface
Dacor, Inc.
GE Appliances, a Haier company
Meyer Corporation
Electrolux,
Samsung
Gaggenau Hausgerate
Hestan CUE

Smart Cooktop Market: Segmentation

Type

Gas
Electric

Installation

Built-in
Countertop

Width

Less than 24 inch
24 to 30 inches
More than 30 inch

Control Type

Digital
Analog

Number of Burners

Less than 3
3 to 4
More than 4

End-use

Residential
Commercial

Price

Less than US $ 1000
US $ 1000 to US $ 2000
US $ 2001 to US $ 4000
Above US $ 4000

Distribution Channel

Online

E-Commerce Webiste
Company Website

Offline

Specialty Stores
Others

Region

North America
Europe
Asia Pacific
Middle East & Africa
South America

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About Transparency Market Research

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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