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India induction cooktop market: 35% CAGR between 2012-2016
Induction Cooktop Market in India 2012-2016 - a new market research report on 2014-03-05 15:34:02
The India Induction Cooktop market is to grow at a CAGR of 35.4 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing price of cooking gas in India. The Induction Cooktop market in India has also been witnessing increasing demand for enhanced convenience in the kitchen. However, the large presence of gas stoves could pose a challenge to the growth of this market.
In India, trade offers such as discount sales, exchange offers, and festival offers are frequently introduced by vendors in order to trigger sales. Therefore because consumers are price sensitive they shop more during periods of trade offers. Commonly, apparel and electrical appliances witness a peak in sales volume at these times. Since induction cooking is gaining in popularity, these trade offers could trigger more sales of induction cooktops and in turn increase the growth of this market.
The high efficiency of induction cooktops is one of the major drivers in the Induction Cooktop market in India. The various advantages of induction cook tops over gas cook tops, such as increased efficiency, shorter cooking time, less power consumption, and increased safety, are expected to drive the growth of the market during the forecast period.
The key vendors dominating this space are TTK Prestige Ltd., Bajaj Electrical Ltd., and Preethi Kitchen Appliances Pvt. Ltd. The other vendors mentioned in the report are Compton Greaves Ltd., Glen Appliances Pvt. Ltd., Inalsa, Jaipan Industries Ltd., Kenwood Ltd., Khaitan Electrical Ltd., Koninklijke Philips Electronics N.V., Morphy Richards, Panasonic Corp., Sunflame, and Usha International Ltd.
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