Summary

Argentina is a developing country with a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Induction cooktops have steadily attained market expansion as people become increasingly aware of how an induction stove can simplify their cooking process. Induction cooking has the capability to transform the cooking experience as its technology utilises magnetic currents directly to heat the pots and pans. The escalating utilisation of the product in various food outlets such as restaurants, cafeterias, coffee shops, fast food chains, and others has a positive impact on the up surging demand. Additionally, the rising trend of incorporating IoT technology into an induction cooktop acts as an opportunity for market growth. For instance, Samsung is adding LTE connectivity to its Smart premium cooking appliances, including an induction stove, for monitoring and controlling the appliances remotely, which will have tremendous benefits to its users.

According to the research report "Argentina Induction Cooktop Market Overview, 2028," published by Bonafide Research, the market is anticipated to add USD 52.24 million in the upcoming period, 2023–2028. The Market is segmented into by type: Built-In and Freestanding. Freestanding is dominating the market and expected to grow at significant CAGR during the forecast period due to its features like Energy Efficient, Safety, Easy to Clean, Flexibility, quick cooking, and Versatility. On the basis of Application, the market is segmented into Residential and Commercial. With a number of new home development projects underway, demand for induction cooktops is projected to increase. In the past, the steady transition away from gas cooktops benefited the market, and an increasing number of consumers are interested in installing induction cooktops in their homes or large-scale residential projects.

In Argentina, almost 100% of households have access to electricity; moreover, even though the gas network is not present in the Northeast region of the country and therefore is not available for 100% of households, the possibility of meeting households' energy needs through modern gas exists because of the possibility of installing zeppelin gas containers. Zeppelin gas containers are versatile, permitting a quality of heating and cooking similar to that of gas provided through a network. Thus, technologically, gas in zeppelin containers can be considered a primary energy facility. Therefore, in Argentina, all households have the possibility of cooking and heating with electricity or modern gas because there is a supply of both energy sources everywhere. Thus, the energy accessibility problem in Argentina, like that in China, is not a problem of energy supply but a problem of households' choice of non-modern forms of energy sources. In Argentina, bottled gas is sold in two commercial presentations: a cylinder called "tubo" (with a capacity of 30 or 45 kg of gas) and a cylinder called "garrafa" (with a capacity of 15 kg or 10 kg of gas). Many people living in rural Argentina use low-efficiency cook stoves or open fires for cooking. This has severe adverse effects not only on the rate of deforestation and emissions of greenhouse gases but also on the health of people, especially women and children.

The emerging trend of modular kitchens is also a driving force behind the growth of the consumer induction cooktop market. The growing residential construction industry will continue to bolster the market growth of the consumer induction cooktop. With the rising number of residential buildings and a growing population, the need for space-saving appliances that optimise the usage of small spaces is also increasing, which is fueling the demand for space- and cost-efficient induction cooktops. In November 2019, Robert Bosch GmbH announced the launch of its Bosch induction cooktop, which lets users sync their hobs with the wall hood for automatic deployment when the induction is switched on. In October 2020, Philips expects its Hd4929 induction cooktop to be the cheapest induction stove launched by the company in the last 3 months.

Considered in this report
• Geography: Argentina
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Argentina Induction Cooktop market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type:
• Built-In
• Freestanding

By Application:
• Residential
• Commercial

By Distribution Channel:
• Specialty Store
• Hypermarkets & Supermarkets
• Online

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Induction Cooktop industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.