According to a market report by Lucintel, the future of the global smart cooktop market looks promising with opportunities in online and offline distribution channels. The global smart cooktop market is expected to reach an estimated $1.4 billion by 2028 with a CAGR of 10.0% from 2023 to 2028. The major drivers for this market are growing disposable income, changing lifestyle preferences of people, increasing penetration of smart devices, and rising awareness about the use of smart cooktops in developing economies.
In this market, gas cooktops, induction cooktops, and hybrid cooktops are different types of smart cooktop. Lucintel forecasts that induction cooktop will remain the largest type segment over the forecast period because these are more energy-efficient as compared to other conventional cooking appliances and possess the capability to cook the food even at lower temperatures.
Within this market, offline will remain the largest distribution channel segment from 2023 to 2028 due to the availability of specialized stores and a large number of offers offered by storekeepers on smart cooktops.
North America will remain the largest region during the forecast period due to the increasing adoption of advanced technologies and equipment by consumers and the presence of major market players in the region.
Samsung Electronics, GE Appliances, Haier Company, BSH Home Appliances Corporation, Whirlpool, Electrolux, LG Electronics, and BuzzFeed are the major suppliers in the global smart cooktop market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global smart cooktop market by type, number of burners, end use, distribution channel, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Smart Cooktop Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global smart cooktop market by type, number of burners, end use, distribution channel, and region, as follows:
Smart Cooktop Market by Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Gas Cooktops
Induction Cooktops
Hybrid Cooktops
Smart Cooktop Market by Number of Burners [Value ($B) Shipment Analysis from 2017 to 2028]:
Smart Cooktop Market by End Use [Value ($B) Shipment Analysis from 2017 to 2028]:
Smart Cooktop Market by Distribution Channel [Value ($B) Shipment Analysis from 2017 to 2028]:
Smart Cooktop Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.
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This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the global smart cooktop market by type (gas cooktops, induction cooktops, and hybrid cooktops), number of burners (below 3, 3-4, and more than 4), end use (residential and commercial), distribution channel (online and offline), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity did occur in the last five years and how did they impact the industry?