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An induction hob utilizes electrical induction technology to heat cookware. This appliance uses a magnetic field to move the molecules in the cookware, making it hot. Hence, only the cookware gets heated while the glass top and the air surrounding the vessel do not. This makes an induction hob a safer and more energy-efficient option than a gas hob. Induction hobs, also known as induction cooktops, are also more versatile and allow quick and controlled heating when compared with traditional gas hobs.
Rapid urbanization in emerging economies such as China, Russia, and India has led to changes in consumer lifestyle and living standards, and an increase in disposable income and purchasing power. These factors, along with rising fuel costs and growing environmental concerns, have increased the popularity of induction hobs. Hence, this rapid growth in urbanization is expected to lead to a gradual adoption of induction hobs during the forecast period.
Analysts forecast the Global Induction Hobs market will grow at a CAGR of 6.83 percent over the period 2013-2018. According to the report, the Global Induction Hobs market is driven by several factors, the most important of which is the rise in the number of working women, which has led to an increase in average household disposable income, making household appliances such as induction hobs affordable. Consumers are also attracted by the high level of convenience provided by induction hobs.
This report covers the present scenario and the growth prospects of the Global Induction Hobs market for the period 2014-2018. To calculate the market size, the report considers revenue generated by hob manufacturers.
Global Induction Hobs Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers Europe, North America, the APAC region, and the ROW; it also covers the Global Induction Hobs market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Further, the report states that the limited adoption of induction hobs in the Commercial segment is one of the major challenges. Induction hobs are not preferred for commercial cooking primarily because they require the use of magnetic cookware, which may not be as cost-effective as regular cookware. The high initial cost of induction hobs also limits their use in commercial establishments such as restaurants.
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Other Prominent Vendors
Key Market Driver
Key Market Challenge
Key Market Trend
Key Questions Answered in this Report
List of Exhibits
Exhibit 1: Market Research Methodology
Exhibit 2: Global Induction Hobs Market 2013-2018 (US$ billion)
Exhibit 3: Share of the Induction Hobs Segment in the Global Household Cooking and Appliances Market 2013
Exhibit 4: Global Induction Hobs Market by Geographical Segmentation 2013
Exhibit 5: Business Segmentation: AB Electrolux
Exhibit 6: Business Segmentation: Haier Electronics Group Co. Ltd.
Exhibit 7: Revenue by Business Segmentation HY2013
Exhibit 8: Business Segmentation: Koninklijke Philips NV 2013
Exhibit 9: Business Segmentation: LG Electronics Inc.
Exhibit 10: Revenue by Business Segmentation HY2013
Exhibit 11: Product Segmentation: Miele & Cie. KG
Exhibit 12: Business Segmentation: Panasonic Corp.
Exhibit 13: Business Segmentation by Revenue FY2013
Exhibit 14: Geographical Segmentation by Revenue FY2013
Exhibit 15: Business Segmentation: Whirlpool Corp.
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