Technavio has been monitoring the induction hobs market and it is poised to grow by USD 3.51 bn during 2020-2024, progressing at a CAGR of about 9% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Induction Hobs Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions:
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What are the major trends in the market?
Advent of voice-controlled kitchen assistants is a major trend driving the growth of the market. -
At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 6.53% and the incremental growth of the market is anticipated to be $3.51 bn. -
Who are the top players in the market?
B Electrolux, Koninklijke Philips NV, LG Electronics Inc., Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Smeg Spa, Sub-Zero Group Inc., TTK Prestige Ltd., and Whirlpool Corp, are some of the major market participants. -
What are the key market drivers and challenges?
Product innovations and new designs are some of the major factors driving the market. -
How big is the APAC market?
The APAC region will contribute 36% of the market share.
The market is concentrated, and the degree of concentration will accelerate during the forecast period. AB Electrolux, Koninklijke Philips NV, LG Electronics Inc., Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Smeg Spa, Sub-Zero Group Inc., TTK Prestige Ltd., and Whirlpool Corp. are some of the major market participants. Product innovations and new designs will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Induction Hobs Market 2020-2024: Segmentation
Induction Hobs Market is segmented as below:
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Product
- Built-in Induction Hobs
- Free-standing Hobs
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Distribution channel
- Offline
- Online
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Geographic Landscape
- Europe
- North America
- APAC
- South America
- MEA
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Induction Hobs Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The induction hobs market report covers the following areas:
- Induction Hobs Market Size
- Induction Hobs Market Trends
- Induction Hobs Market Industry Analysis
This study identifies the advent of voice-controlled kitchen assistants as one of the prime reasons driving the induction hobs market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Induction Hobs Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist induction hobs market growth during the next five years
- Estimation of the induction hobs market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the induction hobs market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of induction hobs market, vendors
Table of Contents:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019-2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Built-in – Market size and forecast 2019-2024
- Free standing – Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Distribution channel
- Market segments
- Comparison by Distribution channel placement
- Offline – Market size and forecast 2019-2024
- Online – Market size and forecast 2019-2024
- Market opportunity by Distribution channel
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- AB Electrolux
- Koninklijke Philips NV
- LG Electronics, Inc.
- Panasonic Corp.
- Robert Bosch GmbH
- Samsung Electronics Co. Ltd.
- Smeg Spa
- Sub-Zero Group Inc.
- TTK Prestige Ltd.
- Whirlpool Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
-
List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200821005181/en/