Global Induction Hobs Market Overview:
The global induction hobs market is expected to witness high demand in the forecasted period due to increasing demand from developing regions due to technological innovations. hobs are the type of modern cooking appliances that consist of hotplates and can be operated through electricity as well. Hobs are basically modern stoves which are inbuilt in our kitchen slabs and helps in saving a lot of space. Induction hobs are among the most essential equipment needed for cooking and find its place in most of the modern houses. Some of the players profiled in the study are Bosch-Siemens Hausgeraete GmbH (Germany), Elica S.p.A. (Italy), FABER S.p.A. (Italy), Electrolux (Sweden), LG Electronics (South Korea), Panasonic (Japan), Robert Bosch (Germany), Whirlpool (United States), Miele & Cie. Kg (Germany) and Beko (Turkey).
On the basis of geography, the market of Induction Hobs has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Number of Burner, the sub-segment i.e. Four-burner hobs will boost the Induction Hobs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Hypermarkets and supermarkets, and general merchandizers will boost the Induction Hobs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Increasing Per Capita Income and Rising Spending Capacity
- High Demand due to Increasing Smart Homes
- The Efficient and Cost-Effective Innovation in New Products and the Increasing Consumer Spending on Household Products. The Global Induction Hobs Market is Triggered by the Rising Availability and Reduced Prices of these Products, due to the Advancement of New Technologies. With Advanced Features Such as the Variable Number of Burners or Induction Tops, Zone Hobs have Become a Preferred Choice Among Consumers
- High Price Associated with the Induction Hobs
- High Demand due to Rising Penetration of these Products in Developing Economies
- Technological Advancement
- Induction Hobs Relies On High Quality of Electricity Which Undeveloped Countries Have Not Achieved, Hence Market Growth Is Restricted In Some of the Countries
The companies are exploring the market in new regions by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. Key players are exploring new geographies through expansions and acquisitions across the globe to avail a competitive advantage through combined synergies
Target Audience:Induction Hobs Manufactures, Induction Hobs Suppliers, Induction Hobs Distributors, Governmental and Research Organizations, Associations and Industry Bodies and Others
Major Objectives Focused through this Study To define, describe, and forecast the Global Induction Hobs market on the basis of product [Built-in induction hobs and Free-standing induction hobs] , application [Household and Commercial], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Induction Hobs market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Induction Hobs industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are .
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Induction Hobs market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.