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The global commercial induction cooktops market size is expected to be valued at US$ 17.5 Billion in 2032 and exhibit immense growth at a CAGR of 8.2% in the forecast period from 2022 to 2032. An increasing number of non-residential development projects across the globe is anticipated to drive the sales of commercial induction cooktops in future years. As per FMI, the global commercial induction cooktops market is likely to reach US$ 12.3 Billion in 2022.
Commercial Induction Cooktops Market: Introduction
Induction cooking is considered to be one of the most efficient technologies for cooking in both commercial and residential sectors. Commercial induction cooktops work on the principle of magnetic induction, in which the excitation of eddy currents is done in the presence of an oscillating magnetic field. The process is done in a ferromagnetic cookware and by the joules effect, these induced currents can generate and dissipate heat directly in the cooking vessel for cooking. As a result, there is lower heat loss due to inefficient thermal conduction between cookware and heating element. Commercial induction cooktops can transfer 90% of the consumed energy to food. In comparison, traditional electric systems offer only about 74% of thermal efficiency and gas offers only 40% thermal efficiency.
Furthermore, various configurations of commercial induction cooktops, such as single hob, double hob and multi hob commercial induction cooktops, are available in the market, catering to various requirements. Additionally, based on the type of installation, there are mainly three types of commercial induction cooktops available in the market: countertop, drop-in and floor-standing commercial induction cooktops. The configuration may differ according to the end users in the commercial sectors. The prime end users of commercial induction cooktops are restaurants, hotels, canteens, etc.
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Commercial Induction Cooktops Market: Regional Outlook:
The Asia Pacific region is expected to be the most lucrative market for commercial induction cooktops owing to growing urbanization and increasing demand for new alternative for cooking processes. Emerging countries such as, China, India, Japan, etc., are projected to observe significant growth in the market of commercial induction cooktops due to growing number of restaurants and hotels. In Europe, the growing popularity of commercial induction cooktops is projected to drive the market of commercial induction cooktops in the region.
The growing demand for multifunction cooktops from the commercial sector in North America anticipated to drive the commercial induction cooktops market in the region. Latin America and Middle East & Africa also expected to register decent growth in the commercial induction cooktops market.
Commercial Induction Cooktops Market: Market Participants:
Some of the market participants in the global commercial induction cooktops market are:
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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Key Segments Profiled in the Commercial Induction Cooktops Industry Survey
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The post Market For Commercial Induction Cooktops Shows Rapid Development With A CAGR Of 8.2% From 2022 to 2032: FMI appeared first on Future Market Insights.
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