Induction cookers have been present in the domestic market for almost two decades. During this time, they were mainly in the phase of promotion and popularization, which led to basic technical research being limited to the lower levels of development and application of single-unit models. Ordinary induction cookers are now in a mature stage of the market, with established brands and intense competition. In contrast, commercial induction cookers lag at least two stages behind their household counterparts in terms of market cycle, as they are still in the early stages of market cultivation.
According to an analysis of China’s induction cooker industry in 2015, the commercial market is dominated by local brands, and the industry has not yet reached a consolidated structure. Companies like Shenzhen Global, Shenzhen Jinken, Beijing Xinli, Dongguan Lanwei, Ming Steel, Semykong, Mo Lisi, Kitchen Wo, Dongguan Yu Xin, and Dongguan Kitchen are among the key players. However, there is a lack of foundational research in high-power technology, which is considered the "high-end" segment of induction cookers. Additionally, industry standards and norms are still under development. While major manufacturers of small-power induction cookers and power companies have not entered the commercial market on a large scale, many traditional kitchen equipment manufacturers have already made their way into this sector.
Although no major brand has fully entered the commercial induction cooker market yet, this situation may change soon. According to SMR analysts, Midea launched a commercial induction cooker project in 2010. It is expected that the market structure will evolve significantly in the next two years due to external influences, such as U.S. involvement.
Key success factors in the industry include resource relationships, channel capabilities, product pricing, solution offerings, and after-sales service. SMR analysts ranked these factors with corresponding weights: resource relationships (5 points), channel ability (4 points), product price (3 points), solution (2 points), and after-sales service (1 point).
The channels for commercial induction cookers differ significantly from those of consumer products. Commercial induction cookers are not part of the small household appliance industry; instead, they are considered engineering products with non-standardized features. They serve various industries, each with unique requirements. For example, in multi-user environments like restaurants or ships, companies must provide complete engineering solutions rather than just selling a product. This makes the sales channels for commercial induction cookers independent and engineering-oriented.
In terms of market size and growth potential, it is estimated that there are about 5.8 billion stoves in China, with nearly 70% using gas or fuel. If these are gradually replaced by commercial induction cookers, combined with government policies promoting energy efficiency and environmental protection, the market could reach several hundred billion yuan.
In the catering industry, there are over 5 million kitchens across restaurants, hotels, and eateries, with an annual growth rate of 12%. Based on a 10% demand rate in the commercial electromagnetic kitchen market and an average of four units per kitchen, the market capacity could be around 2 million units, representing a total demand of approximately 40 billion yuan. Each city could see more than 100 million yuan in market demand, highlighting the vast potential.
For enterprise and institutional canteens, there are about 600,000 in China. These institutions are key drivers of energy conservation, and the demand for modernizing traditional canteens is strong. With a 30% demand rate and five sets of equipment per canteen, the market demand could reach around 20 billion yuan in the next five years. Commercial induction cookers are the preferred choice for such renovations.
In the education sector, the average annual energy cost for colleges and universities nationwide is 15.2 million yuan. With around 2,780 public and 235 private universities, each averaging three canteens, the market demand for commercial induction cookers could reach approximately 1 billion yuan over the next five years if 30% of traditional kitchens are replaced with 10 units per school.
Despite the potential, the industry faces several challenges. Technologically, while induction cookers have been on the market for two decades, basic research remains at a low level, particularly in high-power technology. Domestic electromagnetic research is still in its early stages, and the lack of regulations hinders integration with advanced markets like Japan.
Consumer perception also poses a challenge. Although ordinary induction cookers sell over 10 million units annually, their adoption as primary cooking appliances is still low. Many people view them as auxiliary products rather than replacements for gas stoves. The acceptance of high-power induction cookers by mass consumers is uncertain, and the timeline for market penetration is unclear.
Cost remains a significant barrier. The popularity of single-burner induction cookers was largely driven by a sharp drop in prices. When the price fell from 1,000 yuan to 300 yuan, penetration increased by 30 times. High manufacturing and retail costs can hinder widespread adoption. In developed countries, high-power induction cookers are often several times more expensive than gas or electric stoves, making them less attractive to consumers.
In summary, the journey of high-power induction cookers into households and society will take time. There is much work to be done, and the process is filled with variables and expectations. In China, many markets experience rapid growth, but how long this transition will take remains uncertain.
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