Electric Cooktops Market is Booming Worldwide at Unstoppable Rate | Electrolux Home Appliance, Bosch Home Appliances Group & Whirlpool Corporation

 


Electric cooktops are a type of cooking equipment that can be found in both commercial and non-commercial kitchens. Electric cooktops use less energy than other types of cooking appliances and have greater safety measures, such as automatically shutting off when there is no cooking pot on the cooktop. Furthermore, glass or ceramic are commonly employed in the construction of electric cooktops. One of the primary factors driving market expansion is the rising demand for energy-efficient appliances. Electric cooktops are becoming more popular as natural gas prices rise. According to the EIA (Energy Information Administration), the price of natural gas in the United States in 2017 was US$ 3.55/MBTU (Million British Thermal Units), up from US$ 2.51/MBTU in 2016.

As a result, household cooking gas costs are projected to rise correspondingly. Furthermore, while utilizing natural gas to heat the stovetop, around 60% of the heat is wasted, whereas only 30% of the heat is lost when using electric cooktops. As a result, electric cooktops are more energy-efficient than conventional cooktops, fueling market development. The electric cooktops market is predicted to develop in response to the rising demand for autonomous household kitchen equipment. The demand for these appliances is predicted to skyrocket as a result of increased urbanization. Furthermore, the growing number of working professionals who are unable to conduct basic tasks such as cooking contributes to an increase in demand for electrified vehicles.

These cooktops heat pots and pans 50% faster than typical gas cooktops, and they automatically regulate temperature as needed. As a result, innovations in household appliances are projected to fuel the electric cooktop market's expansion.

Electric cooktops are only compatible with specified cookware, limiting the types of vessels that can be used to cook on them. Cookware made of ferromagnetic materials such as cast iron and steel is compatible with these cooktops, however, cookware made of aluminium or copper is not. This is a big stumbling block to the worldwide market's expansion. In 2016, Asia Pacific held the greatest share of the global market, and this dominance is likely to continue over the forecast period. One of the factors driving market expansion in this region is the rising demand for smart homes. According to Coherent Market Insights, the revenue generated from smart homes in India was US$ 17.45 million in 2016, and it climbed to US$30 million in 2017. As a result, demand for smart kitchen appliances such as electric cooktops is projected to rise. As a result, the electric cooktop market in this region is predicted to grow significantly.

Electrolux Home Appliance, Bosch Home Appliances Group, Whirlpool Corporation, GE Appliance, Kenmore LLC, Haier, Inc., Thermador Corporation, Baumatic Ltd., LG Electronics, Asko Appliance, Sub-zero Group, Inc., and Summit Appliance are among the major participants in the worldwide electric cooktops market.

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