LONDON–(BUSINESS WIRE)–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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Frequently Asked Questions:
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:
Built-in Induction Hobs
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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:
Value chain analysis
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 Segmentation by Product
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
Comparison by Distribution channel placement
Offline – Market size and forecast 2019-2024
Online – Market size and forecast 2019-2024
Market opportunity by Distribution channel
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
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 positioning of vendors
Koninklijke Philips NV
LG Electronics, Inc.
Robert Bosch GmbH
Samsung Electronics Co. Ltd.
Sub-Zero Group Inc.
TTK Prestige Ltd.
Scope of the report
Currency conversion rates for US$
List of abbreviations
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