Brazil Induction Cooktops Market Size & Outlook, 2023-2030
Brazil induction cooktops market, 2018-2030 (US$M)
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Brazil induction cooktops market highlights
- The Brazil induction cooktops market generated a revenue of USD 4,132.9 million in 2023 and is expected to reach USD 6,858.6 million by 2030.
- The Brazil market is expected to grow at a CAGR of 7.5% from 2024 to 2030.
- In terms of segment, gas cooktops was the largest revenue generating type in 2023.
- Induction Cooktops is the most lucrative type segment registering the fastest growth during the forecast period.
Induction cooktops market data book summary
| Market revenue in 2023 | USD 4,132.9 million |
| Market revenue in 2030 | USD 6,858.6 million |
| Growth rate | 7.5% (CAGR from 2023 to 2030) |
| Largest segment | Gas cooktops |
| Fastest growing segment | Induction Cooktops |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Gas Cooktops, Electric Cooktops, Induction Cooktops |
| Key market players worldwide | Whirlpool Corp, LG Electronics Inc ADR, Electrolux AB ADR, Koninklijke Philips NV, Bosch, Avis Budget Group Inc, Panasonic Holdings Corp, TTK Group, Smeg, Sub-Zero, Wolf, and Cove, Miele |
Other key industry trends
- In terms of revenue, Brazil accounted for 4.0% of the global induction cooktops market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil induction cooktops market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 6,858.6 million by 2030.
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Induction Cooktops Market Scope
Induction Cooktops Market Companies
| Name | Profile | # Employees | HQ | Website |
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Brazil induction cooktops market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to induction cooktops market will help companies and investors design strategic landscapes.
Gas cooktops was the largest segment with a revenue share of 52.9% in 2023. Horizon Databook has segmented the Brazil induction cooktops market based on gas cooktops, electric cooktops, induction cooktops covering the revenue growth of each sub-segment from 2018 to 2030.
The economy has been unstable for a while and has witnessed numerous fluctuations. The number of new households in the country has been increasing steadily in line with the increasing population. An addition in the number of households over the next years will help increase the demand for induction cooktops in the country over the forecast period.
The coronavirus pandemic has destabilized the world economy as countries slipped into a health crisis induced recession. Brazil has been no exception to this, with nearly 25% of the country's million bars & restaurants closing permanently for business, according to a report by The Rio Times.
The same article also reports that close to 71% of the restaurants & bars in the country are failing to generate turnover. In hindsight, liquidity issues of food service owners and fast-food chains are curtailing any spending that is needed to expand or purchase commercial kitchen spaces, which subsequently leads to lower sales of induction cooktops in the commercial sector.
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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil induction cooktops market , including forecasts for subscribers. This country databook contains high-level insights into Brazil induction cooktops market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Brazil induction cooktops market size, by type, 2018-2030 (US$M)
Brazil Induction Cooktops Market Outlook Share, 2023 & 2030 (US$M)
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