Global Residential Hobs Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Residential Hobs Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global residential hobs market report has been segmented on the basis of product type, hobs size, and region.

Request Covid - 19 Impact


Global Residential Hobs Market: Overview

Residential hobs are the type of modern cooking appliances that consist of hotplates or burners and can be operated through electricity as well as gas. These appliances are available in various sizes or number of burners such as two, three, and so on.

Global Residential Hobs Market: Dynamics

Growing population and increasing consumption of food across the globe are major factors expected to drive growth of the global market. In addition, technological advancements in cooking appliances in terms of design and utility is resulting in high demand for residential hobs globally, which is a factor projected to propel the target market growth. Escalating prices of LPG, especially in developing countries is influencing the adoption of electric residential hobs which is another factor anticipated to augment growth of the global market. Increasing inclination towards modernizing the household and growing demand for energy-efficient appliances are some other factors expected to propel the target market growth over the forecast period.

The key trend observed in the global market is the availability of the IoT enabled induction cooktops at online channels.

However, the high cost of advanced residential hobs is another factor expected to challenge growth of the target market over the forecast period. In addition, some of these hobs require specific or compatible utensils to cook which may result in additional expenses, which may hamper the global market growth to a certain extent.

Global Residential Hobs Market: Segmental Analysis

Among the product type segments, the induction segment is anticipated to register significant growth, which is attributed to increasing utilization of induction-based cooktops in the developed countries.

Among the hobs size segments, the 4 burner segment is expected to contribute to significant shares of the global market, in terms of revenue. This is attributable to growing demand for 4 burner residential hobs among large families, particularly in developing countries.

Global Residential Hobs Market: Regional Analysis

North America is expected to dominate the residential hobs market and continue its dominance over the forecast period. This is attributed to the quick adoption of new and technologically advanced products or appliances. In addition, growing adoption of these hobs due to energy efficiency and inclination towards modernizing the kitchen are some other factors expected to support the revenue growth of the target market in this region.

Asia Pacific residential hobs market is expected to register substantial growth, which can be attributed to the rapidly growing demand for ready-to-live and smart homes coupled with increasing disposable income. In addition, increasing urbanization in developing countries such as India and China, improved standard of living along with inclination towards technologically advanced appliances are some additional factors expected to propel growth of the target market. Furthermore, a strong base of population fueling the demand for residential hobs which is another factor anticipated to fuel the target market growth.

Global Residential Hobs Market Segmentation:

Segmentation by Product Type:

Induction
Gas
Mix

Segmentation by Hobs Size:

2 burner
3 burner
4 burner
5 burner