Home Press Releases Electric Hobs Market Size Worth $993.0 Million By 2030 | CAGR: 4.2%

Electric Hobs Market Size Worth $993.0 Million By 2030 | CAGR: 4.2%

The global electric hobs market size is expected to reach USD 993.0 million by 2030, according to a new study by Polaris Market Research. The report “Electric Hobs Market Share, Size, Trends, Industry Analysis Report, By Size (2 Burner, 3 Burner, 4 Burner, and 5 Burner); By Product Type; By Distribution Channel; By Region; Segment Forecast, 2022-2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Rising health consciousness, a shift in consumer lifestyles, and rising consumer disposable income are a few significant factors expected to drive the market’s growth forward. In addition, an extensive rise in the usage of cloud kitchens in the food service industry along with high number of food exhibitions & food blogging around the world is likely to create lucrative growth opportunities for the global market during the forecast period.

 

Moreover, increasing consumer purchasing power and introduction to the variety of appliances by key market companies across the globe has resulted in higher growth of the market. For instance, in 2022, revenue from households amounted to USD 47.53 billion, in which the small appliances segment held the largest market with a volume of USD 26.12 billion in 2022.

 

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During an induction hob’s utilization, no flames are exposed, and no gas is discharged into the air. This is one of the primary reasons why these induction hobs are considered ideal alternatives for families with kids. Additionally, Hafele induction hobs are also sophisticated with safety features. The auto-pan detection feature ensures that the heat is turned off after cookware is removed from the hob’s surface. These features of induction shobs are likely to impact the global market demand and adoption of electric hobs positively.

 

Electric Hobs Market Report Highlights

  • 4 burner segment accounted for largest revenue share which is accelerated by increasing demand for more burners especially in countries having large families like India and China and growing number of smart homes and modern kitchens across the globe
  • Mix segment projected to witness fastest growth at a high CAGR over the forecast period owing to shift in consumer preferences towards the energy saving and environment friendly cooking products
  • Specialty stores held the largest market share in 2021 and expected to witness significant growth in the near future due to discounts, immediate gratification, and ability to compare products physically coupled with the large presence of retail stores and easy access to consumers
  • North America region dominated the electric hobs market in 2021 and likely to maintain its dominance over the study period on account of high robust technological advancements
  • The global players include Siemens, Whirlpool Corporation, Haier Smart Homes, and Panasonic Corporation

 

Polaris Market Research has segmented the electric hobs market report based on size, product type, distribution channel, and region:

 

Electric Hobs, Size Outlook (Revenue – USD Million, 2018 – 2030)

  • 2 Burner
  • 3 Burner
  • 4 Burner
  • 5 Burner

Electric Hobs, Product type Outlook (Revenue – USD Million, 2018 – 2030)

  • Induction
  • Gas
  • Mix

Electric Hobs, Distribution Channel Outlook (Revenue – USD Million, 2018 – 2030)

  • Supermarkets/Hypermarkets
  • Specialty Stores
  • E-commerce
  • Others

Electric Hobs, Regional Outlook (Revenue – USD Million, 2018 – 2030)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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