India Cooktops Market, By Product Type (Gas Cooktops, Induction Cooktops, Electric Coil Cooktops, and Hybrid Cooktops), By Number of Heating Elements (2 and Below, 3 to 4, More than 4), By Sector (Organized Sector and Unorganized Sector), By Technology (Free Standing and Built-in), By Distribution Channel (Kitchen Appliances Stores, Multi-Branded Stores, Online, Exclusive Stores, Supermarkets/Hype
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationGrowing urbanization and changing lifestyles and preferences of consumers are influencing the cooktops market of India, which is expected to grow at a CAGR of 6.23% during the forecast period, reaching USD 1310.02 million by 2028F. Furthermore, increased purchasing power, product innovation, and technological improvements are expected to boost the India cooktops market during the forecast period.
And get thisurban Indians have more money to spend, and they're spending it on cool stuff! People want better products, especially with more folks working these days. This is really helping the market boom. Companies are also shaking things up, like through mergers and acquisitions, to get more customers. For example, in March 2022, Crompton grabbed a 55% share in Butterfly Gandhimathi Appliances Limited for about USD 187.76 million. They even started an offer that could bump their ownership up to 81%! Similarly, back in 2021, Whirlpool snagged an extra 38% of Elica PB India for roughly USD 57 million, giving them a total of 87%. All these moves are expected to give their market growth a serious push in the years to come!
Rising Online Sales Channels will lead to the Market Growth of Cooktops
With more consumers shopping online, major market players are heavily utilizing digital channels to connect with customers. The digital marketing strategy aims to increase traffic and product discoverability on the e-commerce platform. Rapid use of the internet, rising use of smartphones, and an increase in digital literacy are speeding up the transition to digital payments and e-commerce on online platforms, bringing customers and brands closer together. These factors have provided higher brand penetration, particularly in the Tier-II plus cities expanding the consumer base in the cooktops market of India.
Increasing Innovations to the Cooktops Fueling the Market Growth
Numerous international corporations are investing a significant amount of money in their research and development division due to the industry's growing need for efficient cooktops. Diverse innovations are being developed concurrently to encourage market expansion. For instance, in 2021, TTK Prestige launched the ‘revolutionary Svachh Glass Top gas stove’ in Hyderabad. This product has a unique liftable burner that is attached to a hinge with one arm. Since there is no complicated mechanism issue, these burners are simple to lift for cleaning. The internal product development team at TTK Prestige developed the product.
Increasing Purchasing Power will Fuel the Market Growth
Imagine thisthe Indian middle class? Their combined wallets are about to become a massive force in the world economy. This growing group, with more cash to spend, could really spark new ideas and create tons of jobs, boosting the economy big time. One of the things driving the cooktops market in India, for example, is simply that people have more money to spend on them. Plus, the fact that so many people live close together, and are moving from villages to cities, is fueling the market for all sorts of small appliances. Get this – by 2030, it's estimated that over 40% of India's population will be women living in cities!
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Market Segmentation
The India cooktops market is segmented by product type, number of heating elements, sector, technology, distribution channel, end user, and region. The market is segmented into gas cooktops, induction cooktops, electric coil cooktops and hybrid cooktops based on product type. The number of heating elements segment is divided into 2 and below, 3 to 4, and more than 4. The sector category is further segmented into organized and unorganized. The market is also segregated in terms of technology between free standing and built-in. The distribution channel is segmented into kitchen
Company Profiles
TTK Prestige LTD., Crompton Greaves Consumer Electricals Limited, Stove Kraft Limited, Bajaj Electricals Limited, Sunflame Enterprises Pvt. Ltd., Kaff Appliances (India) Private Limited, Glen Appliances Private Limited, Franke Faber India Private Limited, Usha International Limited, Havells India Limited are some of the leading market players in the Indian cooktops market. New market players have also been actively entering the market in recent years, further strengthening future market growth.
| Attribute | Details |
| Market Size Value in 2022 | USD 916.02 Million |
| Revenue Forecast in 2028 | USD 1,310.02 Million |
| Growth Rate | 6.23% |
| Base Year | 2022 |
| Historical Years | 2018–2021 |
| Estimated Year | 2023E |
| Forecast Period | 2024F –2028F |
| Quantitative Units | Revenue in USD Million, Volume in Thousand Units and CAGR for 2018-2022 and 2023E- 2028F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · Product Type · Number of heating elements · Technology · Sector · Distribution Channel · End User · Region |
| Regional Scope | South, North, West, and East |
| Key Companies Profiled | TTK Prestige LTD., Crompton Greaves Consumer Electricals Limited, Stove Kraft Limited, Bajaj Electricals Limited, Sunflame Enterprises Pvt. Ltd., Kaff Appliances (India) Private Limited, Glen Appliances Private Limited, Franke Faber India Private Limited, Usha International Limited, Havells India Limited |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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