According to Goldstein Research, “Rising innovation in cooking technologies with energy efficient solutions primarily driving the growth of commercial induction cooktop market across the globe. Increasing fuel price is encouraging the inclination towards induction cooktop over conventional cooking appliances is expected to expand the commercial induction cooktop market.”
The global commercial induction cooktop market is segmented on the basis of installation type. Based on installation type, the commercial induction cooktop market is further classified into countertop, drop-in and floor standing commercial induction cooktop. Among these segments countertop commercial induction cooktop accounted for 48% revenue share of the global commercial induction cooktop market in 2016. Rising adoption of counter top model in smaller enterprises and growing popularity of live counters at restaurants are likely to propel the growth of countertop commercial induction cooktop market during the forecast period. Moreover, improved features and minimum space occupancy by countertop models are driving the demand of countertop commercial induction cooktop across the globe.
Asia-Pacific is the fastest growing region for global commercial induction cooktop market. Asia-Pacific commercial induction cooktop valued USD 0.37 in 2016 and is anticipated to grow at a CAGR of 8.0% during the forecast period. Rising adoption of cooking methods that save time and growing trend of open kitchen in restaurants is expected to positively impact the business opportunities for commercial induction cooktop in Asia-Pacific region.
Groundbreaking Innovation: A cooktop for every utensil
Compatibility of induction cooktop with the material of utensils used for cooking is always a concern and a major factor hindering the growth of commercial induction cooktop market. However, recent innovation of Panasonic is a revolutionary transformation in induction cooktop market. These induction cooktops are compatible with all kinds of pans including aluminum. Panasonic also introduced Countertop Induction Oven (CIO) in 2017, works on double-infrared heating technology which is an energy efficient solution for cooking.
“Global Commercial Induction Cooktop Market Outlook 2024” contains detailed overview of global commercial induction cooktop market in terms of market segmentation by installation type
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Sacle) analysis, Porter’s five force model and SWOT analysis.
Global commercial induction cooktop market Report also provides competitive outlook of some of the major players which includes profiling of companies such as APW Wyott , The MiddleBuy Corporation, The Vollrath Company, True Induction, CookTek, Prestige, Panasonic Corporation, Garland Group, Fisher & Paykel Appliances Holdings Ltd, Max Burton , Admiral Craft Equipment Corporation, Globe Food Equipment and Dipo Induction. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global commercial induction cooktop market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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