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Induction Hobs Market Analysis Highlights the Impact of COVID-19 (2020-2024) | Product Innovations and New Designs to Boost the Market Growth | Technavio

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.

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts

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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Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Induction Hobs Market 2020-2024: Segmentation

Induction Hobs Market is segmented as below:


Built-in Induction Hobs

Free-standing Hobs

Distribution channel

Geographic Landscape


North America


South America


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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:

Executive Summary

Market Landscape

Market ecosystem

Value chain analysis

Market Sizing

Market definition

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 condition

Market Segmentation by Product

Market segments

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

Market segments

Comparison by Distribution channel placement

Offline – Market size and forecast 2019-2024

Online – Market size and forecast 2019-2024

Market opportunity by Distribution channel

Customer landscape

Geographic Landscape

Geographic segmentation

Geographic comparison

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

Market drivers

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 challenges

Market trends

Vendor Landscape


Vendor landscape

Landscape disruption

Vendor Analysis

Vendors covered

Market positioning of vendors

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.

Whirlpool Corp.


Scope of the report

Currency conversion rates for US$

Research methodology

List of abbreviations


About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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