Latin America Induction Cooktops Market Size & Outlook
Latin America induction cooktops market, 2018-2030 (US$M)
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Latin America induction cooktops market highlights
- The Latin America induction cooktops market generated a revenue of USD 10,230.3 million in 2023.
- The market is expected to grow at a CAGR of 8.3% 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.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 10,230.3 million |
| Market revenue in 2030 | USD 17,837.8 million |
| Growth rate | 8.3% (CAGR from 2023 to 2030) |
| Largest segment | Gas cooktops |
| Fastest growing segment | Induction Cooktops |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Latin America region accounted for 10.0% of the global induction cooktops market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 56,152.7 million by 2030.
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Induction Cooktops Market Scope
Induction Cooktops Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America 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 55.28% in 2023. Horizon Databook has segmented the Latin America induction cooktops market based on gas cooktops, electric cooktops, induction cooktops covering the revenue growth of each sub-segment from 2018 to 2030.
Brazil, Argentina, Chile, and Colombia are some of the major economies in the region. In recent years, these countries have been exhibiting an increase in economic growth and improvement in lifestyle, which has helped boost the demand for induction cooktops over the past few years and is expected to continue over the forecast period.
An increase in the construction of hotels, bars, and restaurants in South America has fueled the demand for induction cooktops in the region. Moreover, the consumer demand for spacious and beautiful kitchens has fueled the overall market growth.
The manufacturing sector for induction cooktops in South America will also grow during the forecast period. COVID-19 has led to volatility in the stock market. This has impacted trading volumes and stock prices for manufacturers.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America induction cooktops market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America induction cooktops market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America induction cooktops market size, by country, 2018-2030 (US$M)
Latin America Induction Cooktops Market Outlook Share, 2023 & 2030 (US$M)
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