Summary

In Mexico people are not too much familiar with induction cooktop. They prefer gas strove for cooking and other things. But with the rise in trends towards modular kitchen among middle-income groups across the globe acts as one of the major factors driving the growth of induction cooktops market. The increase in the adoption of induction cooktops is that they are relatively safe than LPG cylinders because of the absence of open flames. Additionally, the induction cooktop, automatically shut off when the cooking is done. Also, the adoption of e-commerce sales channels, surge in disposable income, demand for smart kitchens and smart strategic marketing activities positively affect the induction cooktops market.

According to the research report "Mexico Induction cooktop Market Overview, 2028," published by Bonafide Research, the market will grow by USD 233.96 Million in the upcoming period, 2023–2028. Built-In is dominating the market due to its features like Space Saving, Energy Efficient, Easy to Clean, Safety, Speed, Sleek Design, and Durability which are attracting or forcing consumer consumers to buy Built-In Induction Cooktop.In the Mexico, the adoption of induction cooktops has been slow, although consumers have begun to purchase induction. As they are very easy to clean, use and are energy efficient.

Consumer hesitation about induction often has little to do with induction itself, according to Noah Cordoba, kitchen electrification coordinator at the Building Decarbonization Coalition. Instead, the root cause is frequently a fear of giving up natural gas, which many people don’t even realize is a fossil fuel. But Mexican people’ emotional connection to gas is rooted in misleading marketing, generated by multi-decadal gas industry campaigns that have been telling people that ‘hashtag, cooking with gas’ is going to make your food taste better and make you a better cook. “Another problem is the lack of information about induction. Many Americans still don’t hear much about induction, and when they do, the messages aren’t always accurate. Mexicans simply cook using different methods and tools than expats do and they don’t really use ovens. As more people become aware of how induction cooktops can help simplify their cooking process, their market share has continuously expanded. Due to its technology, which directly heats the pots and pans using magnetic currents, induction cooking has the potential to revolutionize the cooking experience. Moreover, a contributing factor to the rising demand for induction cooktops is expanding utilization in a variety of food venues, including fast food restaurants, cafeterias, coffee shops, and others. The rising use of modern cooking equipment in restaurants and other commercial buildings globally opens lucrative chances for the induction cooktops industry sector.

In Mexico government promotes energy-efficient cookware that are expected to create fresh opportunities for induction cooktops manufactures. The market leaders anticipate that the rising demand for smart home would present them with sizable growth prospects. An induction cooktop acts as an energy-efficient substitute for both the traditional gas stove and the electrical cooktop. Additionally, since they don’t heat the air around them and are safer to use demand is much higher in the residential sector. As many types of induction cooktops can be used in both household and commercial settings, the adoption of induction cooktops is continuously growing. The market is growing as a result of changing lifestyles and rising costs for conventional cooking fuel.

Some of the stores in Mexico where people can buy induction cooktop are The home depot Acuegucto Zapopan, Coppel Constitution, Elektra Jalisco Atotonilco, Elektra El Colli, Mega Elektra G-Polanco, ProesaTecnogas and many more.

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

Aspects covered in this report
• Mexico 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.