According to the report, the Commercial Induction Cooker market is expected to grow from USD 3,896 million in 2019 to USD 4,043 million by 2026, growing at a CAGR of 0.53% from 2019 to 2026.
Market Overview
The global Commercial Induction Cooker market is estimated to be USD 3,896 million in 2019 and is expected to reach USD 4,043 million by 2026, with a CAGR of 0.53% during the forecast period.
Growing demand for energy-efficient and time saving cooking method are major factors of booming the Commercial Induction Cooker market growth. Furthermore, the increasing income and working women are some of other important driving factors.
Induction cooking is different from any traditional cooking technique. The product is directly heated by magnetic force; when a magnetic field is generated when the iron-based pot is placed on the cooking zone, a high-frequency alternating current flows through the copper coil under the glass-ceramic plate, and then the heat is directly transferred to the contents of the disk. Since the induction heating is transferred directly to the pot, a very rapid temperature rise can be achieved.
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Competitive Insights
Key players operating in this market include COOKTEK, GE, VOLLRATH, Spring USA, True Induction, Globe Food Equipment, and WARING.
Regional Insights
North America is the leader market at a share of 34.66%, followed by the Asia Pacific and Europe with a share of 30.82% and 28.57%.
High productivity, safe control panels with improved compatibility of commercial induction cooktops is boosting the growth of the commercial induction cooktops business in North America and Asia-Pacific region.
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Application Insights
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Audience
l Commercial Induction Cooker manufacturers
l Distributors and resellers of Commercial Induction Cooker
l Commercial Induction Cooker industry associations
l Product managers, Commercial Induction Cooker industry administrator, C-level executives of the industries
l Market Research and consulting firms
l Small and Medium-sized Enterprises (SMEs)
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