Global Induction Hobs Industry

Global Induction Hobs Industry

  • September 2020 •
  • 184 pages •
  • Report ID: 5957043 •
  • Format: PDF
Global Induction Hobs Market to Reach $15.2 Billion by 2027

Amid the COVID-19 crisis, the global market for Induction Hobs estimated at US$11.1 Billion in the year 2020, is projected to reach a revised size of US$15.2 Billion by 2027, growing at aCAGR of 4.6% over the period 2020-2027. Free standing & portable cooktops, one of the segments analyzed in the report, is projected to record 4.4% CAGR and reach US$10.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Built-in cooktops segment is readjusted to a revised 5% CAGR for the next 7-year period.

The U.S. Market is Estimated at $3 Billion, While China is Forecast to Grow at 7% CAGR

The Induction Hobs market in the U.S. is estimated at US$3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.1 Billion by the year 2027 trailing a CAGR of 7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 4.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR.We bring years of research experience to this 6th edition of our report. The 184-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others,
  • Electrolux AB
  • LG Electronics Inc.
  • Panasonic Corporation
  • Robert Bosch GmbH
  • Whirlpool Corporation