Induction Cooktops Market to Attain Valuation of USD 15.50 Billion By 2032: Astute Analytica [Yahoo! Finance]
Whirlpool Corporation (WHR)
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Source: Yahoo! Finance
While commercial adoption faces cost and infrastructure hurdles, the residential sector presents substantial opportunities for market expansion. New Delhi, April 29, 2024 (GLOBE NEWSWIRE) -- The global induction cooktops market is projected to surpass US$ 15.50 billion by 2032, up from US$ 9.14 billion in 2023, at a CAGR of 5.7% during the forecast period 2024–2032, according to a study published by Astute Analytica. The induction cooktops market presents a highly lucrative outlook for growth and expansion. Despite current low penetration in markets like the US (only 1% of stoves feature induction technology and 15% in build in cooktops). This growth trajectory is supported by several crucial factors. Consumers are increasingly prioritizing energy efficiency when purchasing kitchen appliances, with over 65% citing it as a critical factor. Induction cooktops stand out in this regard, boasting an impressive efficiency rate of 85-90%, significantly higher than traditional gas or elec
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