A popular type of radiant cooktop is the coil element stove, which resembles traditional coil electric cooktops but features a ceramic glass cover. These cooktops utilize electricity to heat a metal coil beneath the glass surface, which in turn heats the cooking vessel. Similar to induction cooktops, radiant cooktops are slim and can be easily installed on a flat surface like a countertop. The market for radiant cooktops is driven by the desire to reduce the risks associated with unhealthy cooking fumes. According to Report Ocean, the global market size for radiant cooktops was valued at $4.82 billion in 2019 and is projected to reach $6.62 billion by 2026, with a CAGR of 4.65% from 2020 to 2026.
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The market research report encompasses an analysis of key stakeholders in the radiant cooktops market. Some of the leading players profiled in the report include:
- BSH Home Appliances Corporation
- Electrolux AB
- Felix Storch, Inc.
- Fisher & Paykel Appliances Limited
- LG Electronics Inc.
- Miji International Holdings Limited
- Samsung Group
- Smeg S.p.A
- The Whirlpool Corporation
- Transform SR Brands LLC
- Westinghouse Electric Corporation
The radiant cooktops market is segmented based on product, type, application, distribution channel, and region. The report provides market share breakdown by product, including Built-In Cooktops and Portable Cooktops. In terms of type, the market is categorized into Electric Coil Ranges and Smooth Top Ranges. Applications of radiant cooktops are classified as Home Use and Commercial. Distribution channels include Online and Offline Retail. Geographically, the radiant cooktops industry is analyzed across North America, Europe, Asia Pacific, South America, and MEA (the Middle East and Africa).
Product Segmentation:
- Built-In Cooktops
- Portable Cooktops
Type Segmentation:
- Electric Coil Ranges
- Smooth Top Ranges
Application Segmentation:
- Home Use
- Commercial
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Distribution Channel Segmentation:
- Online
- Offline Retail
Regional Analysis:
- North America (U.S., Canada, Mexico, etc.)
- Asia Pacific (China, Japan, India, Korea, Australia, Indonesia, Taiwan, Thailand, etc.)
- Europe (Germany, UK, France, Italy, Russia, Spain, etc.)
- Middle East & Africa (Turkey, Saudi Arabia, Iran, Egypt, Nigeria, UAE, Israel, South Africa, etc.)
- South America (Brazil, Argentina, Colombia, Chile, Venezuela, Peru, etc.)
Please note that this list is not exhaustive, and a complete list of companies can be obtained by requesting a free sample.
The base year for this study is 2019, with forecasts extending up to 2026.
Research Objectives:
- To analyze and forecast the market size of the global radiant cooktops market.
- To classify and forecast the global radiant cooktops market based on product, type, application, distribution channel, and region.
- To identify drivers and challenges for the global radiant cooktops market.
- To examine competitive developments such as mergers & acquisitions, agreements, collaborations, and partnerships in the global radiant cooktops market.
- To conduct a pricing analysis for the global radiant cooktops market.
- To identify and analyze the profiles of leading players operating in the global radiant cooktops market.
This report provides valuable insights and answers critical questions for industry stakeholders, including manufacturers, partners, end-users, and others. It assists in strategic decision-making, investments, and capitalizing on market opportunities. The key target audience for this report includes manufacturers of radiant cooktops, raw material suppliers, market research and consulting firms, government bodies such as regulating authorities and policymakers, as well as organizations, forums, and alliances related to radiant cooktops.
PESTEL Analysis
Political Factors
- Political factors assess the potential impact of government policies and stability on an organization or a specific industry.
- This includes examining political policies, trade regulations, fiscal policies, and taxation policies.
Economic Factors
- Economic factors directly influence the economy and its performance, which in turn affect the organization’s profitability.
- These factors encompass interest rates, employment and unemployment rates, raw material costs, and foreign exchange rates.
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Social Factors
- Social factors focus on the social environment and identify emerging trends.
- Understanding consumer needs and wants within a social context is crucial for marketers.
- Factors in this category include changing family demographics, education levels, cultural trends, attitude changes, and shifts in lifestyles.
Technological Factors
- Technological factors consider the pace of technological innovation and development that can impact a market or industry.
- This involves changes in digital or mobile technology, automation, research and development.
- It’s important to not only focus on digital advancements but also new methods of distribution, manufacturing, and logistics.
Environmental Factors
- Environmental factors relate to the surrounding environment and the ecological impact.
- As Corporate Sustainability Responsibility (CSR) and sustainability gain importance, organizations need to consider these factors in their business operations.
- This includes climate, recycling practices, carbon footprint, waste disposal, and sustainability efforts.
Legal Factors
- Legal factors require organizations to understand the legal requirements and restrictions in the territories they operate in.
- It is crucial to stay updated on changes in legislation and how they may impact business operations.
- Factors include employment legislation, consumer laws, health and safety regulations, international regulations, and trade restrictions.
SWOT analysis:
Strengths:
- These are the internal positive attributes and resources that give an advantage over others. It could be expertise, unique skills, valuable assets, strong brand reputation, or a dedicated team.
Weaknesses:
- These are internal factors that put the entity at a disadvantage compared to others. Weaknesses might include inadequate resources, lack of expertise in certain areas, or inefficient processes.
Opportunities:
- These are external factors that could be favorable to the entity. Opportunities might arise from market trends, technological advancements, changes in regulations, or new partnerships.
Threats:
- These are external factors that could harm the entity’s performance or stability. Threats might – come from competitors, economic downturns, changing consumer preferences, or disruptive technologies.
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