The Global Induction Hobs Market is projected to grow at a CAGR of 8.33% during the period 2018-2022.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The trend of consumers' shift toward modular kitchens will drive the market growth. Modular kitchens are prominent in new residential projects due to their maximisation of available space and ability to suit the consumers' preferences. The demand for built-in induction hobs is due to the changing kitchen designs and preference for remodelling and modular kitchens.
According to the report, the product innovations and new designs will drive the market growth. Vendors are introducing innovative features and technology upgrades to attract customers. Manufacturers in the market are offering features such as faster heating-up and cooling-down, temperature controls, power levels, child lock, timer, and sensory panels, to attract consumers that demand for equipment with latest technology.
Further, the report states that the high cost limiting the adoption in mass segment will impact the market growth. Induction hobs are priced highly due to the usage of advanced technology during manufacturing. Consumers must also pay extra for the specialized cookware. Several high-end models are priced extremely high due to the inclusion of sophisticated technology features. The low product replacement cycle also impacts the adoption rate of these products.
- LG Electronics
- Robert Bosch
Key Topics Covered
1. Executive Summary
2. Scope of the Report
3. Research Methodology
4. Market Landscape
5. Market Sizing
6. Five Forces Analysis
7. Market Segmentation by Distribution Channel
8. Market Segmentation by Product
9. Customer Landscape
10. Market Segmentation by Geography
11. Decision Framework
12. Drivers and Challenges
13. Market Trends
14. Vendor Landscape
15. Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/research/39z2bl/induction_hobs?w=4