Induction Hobs Market Growing Steadily at 6.98% CAGR to 2020
PUNE, India, October 19, 2016 /PRNewswire/ --
2016 global induction hobs market research says focus on aesthetics and multiple features in induction hobs will be one of the major trends in the market. Factors such as high efficiency of induction cooktops, a rise in the number of working women, growing inclination towards smart kitchens, and a rise in the discretionary income of consumers are boosting the sales of induction cooktops. Induction cooktops heat up faster and distribute heat evenly, are easier to clean, and cool down quickly when the power is switched off so that there is no heat wastage. Owing to such benefits, induction cooktops are gaining massive popularity across the world.
Complete report on induction hobs market spread across 82 pages, analyzing 6 major companies and providing 50 data exhibits is now available at http://www.sandlerresearch.org/global-induction-hobs-market-2016-2020.html.
The analysts forecast global induction hobs market to grow at a CAGR of 6.98% during the period 2016-2020. According to the induction hobs market report, the introduction of market-specific products will be one of the major factors that will drive the growth of the market. The global induction hobs market is characterized by the presence of several vendors, both regional and global. The market is fragmented and highly competitive in nature as new vendors, both international and local, are venturing into the market space for induction hobs. Vendors compete on the basis of factors such as product differentiation, portfolio, and pricing. Business expansion and adoption of new technologies for manufacturing products are also key areas of focus for vendors to increase their profit margin and market share.
EASRs is the most preferred retail format for the sales of high-priced induction hobs and continued to generate highest sales of induction hobs in 2015. Consumers prefer buying induction cooktops from specialty stores as they carry a larger range of products and offer the required assistance and information through expert customer service personnel. The built-in induction cooktop segment accounted for the largest share of the global induction hobs market in 2015. Built-in induction cooktops aid in efficient space utilization, and that is why is preferred over other built-in appliances such as built-in microwave ovens and built-in dishwashers.
Europe accounts for the largest share of the global induction hobs market. Much of the region's growth comes from the strong growth of the household appliances market. Induction hobs are highly popular in Germany, France, the UK, Italy, and Spain. In Europe, free-standing induction hobs comprise about 46% of the overall induction hobs market and are highly popular in the region. With the increasing gas prices and growing inclination towards energy-saving appliances, the demand for induction hobs will likely increase in Europe over the next four years.
The following companies are the key players in the global induction hobs market: Bosch, Electrolux, Haier Electronics, LG Electronics, Panasonic, and Whirlpool. Other prominent vendors in the market are: Arçelik, Gorenje, Gree Electric Appliances, Groupe SEB, Hisense Group, Kenmore, Middleby Corporation, Midea Group, Miele, Koninklijke Philips, SHARP, and SMEG. Order a copy of Global Induction Hobs Market 2016-2020 report @ http://www.sandlerresearch.org/purchase?rname=61508.
Global Induction Hobs Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. To calculate the market size, the report considers the revenue generated from the retail sales of induction hobs to both residential and commercial sectors.
Another related report is Global Built-in Dishwashers Market 2016-2020, one of the key drivers for market growth will be the growing demand for compact and integrated built-in dishwashers for smaller and built-in kitchens. In countries such as the US, consumers, especially millennials and baby boomers, prefer to opt for smaller homes with more compact kitchens. Compact homes are driving the market for integrated built-in dishwashers, which are targeted specifically for smaller and built-in kitchens. Browse complete report @ http://www.sandlerresearch.org/global-built-in-dishwashers-market-2016-2020.html.
Explore other new reports on Consumer Electronic Market @ http://www.sandlerresearch.org/market-research/semiconductor-electronics/consumer-electronics.
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