Electric hobs Market By Size (2 Burner, 4 Burner, 5 Burner), By Distribution Channel (Supermarket Hypermarket, Specialty Stores, E commerce, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
Electric hob is an electronically powered hob, with heating ‘zones whereas traditional burners that would find on a gas hob. They come in a variety of styles to suit any kitchen and represent an alternative to traditional gas method of cooking.
Kitchen appliances such as electric hobs have become an integral part of daily activities. A substantial number of consumers with high disposable income have been spending on these appliances including premium & smart appliances. The overall demand for these kitchen appliances has increased among urban households, owing to rise in awareness regarding modern technologies, willingness to pay for comfort that simplify work, and increase the user experience. Thus, improved standard of living, rise in need to ease daily chores, and growth in disposable income are projected to boost penetration of innovative products in the electric hobs market. This is expected to drive the electric hobs market growth during the forecast period.
The market is segmented on the basis of size, distribution channel, and region. By size, it is segmented into 2-burners, 4-burners, and 5-burners. By distribution channel, it is categorized into hypermarkets/supermarkets, specialty stores, e-commerce, and others. By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Spain, Germany, Italy, France, and rest of Europe), Asia-Pacific (China, South Korea, Australia, Japan, India, and rest of Asia-Pacific), and LAMEA (the UAE, South, Africa, Brazil, and rest of LAMEA).Electric Hobs Market share, by Size
In 2021, the 2 burner segment accounted for the highest share in the electric hobs market, garnering 39% share, owing to the fact that 2 burner hobs are highly suitable for compact kitchens. In addition, increase in number of nuclear families is also one of the major growth factors for rise in two burner electric hobs. In addition, this does not need modern or big kitchen countertops to place or use as it is compact in size. Hence, propels the market growth
Electric Hobs Market Share, by Distribution Channel
By distribution channel, the specialty stores segment acquired maximum market share of around 35% in 2021, owing to fact that specialty store business operators maintain considerable depth in the type of product that they specialize in selling, usually at premium prices, in addition to providing higher service quality and expert guidance to shoppers.
Electric Hobs Market Share, by Region
In 2021, Europe dominated the global electric hobs market. However, Asia-Pacific is expected to grow at the significant CAGR of 6.5% throughout the forecast period, owing to Go Electric’ campaign launched by the Bureau of Energy Efficiency (BEE) last February 2021, which is anticipated spread awareness regarding benefits of electric cooking in major developing countries such as India and 100% electrification to rural areas of India is expected to drive the market for electric hobs in this region. Asia-Pacific along with North America contributed for almost 53.2% in the market share. The market in North America is primarily driven by high adoption of advanced products such as smart oven and smart deep fryers and increase in demand for fast food in the region.
Key players operating in the electric hobs market focus on expansion as the prominent strategy to overcome competition and to maintain as well as improve their market share in the global market. Key players profiled in the report include AB Electrolux, Beko plc, BSH Home Appliances, Cusimax, Fisher & Paykel, Haier Inc., LG Electronics Inc., Siemens AG, Smeg SpA, and Whirlpool Corporation.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the electric hobs market analysis from 2021 to 2031 to identify the prevailing electric hobs market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the electric hobs market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global electric hobs market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Size
2 Burner
4 Burner
5 Burner
By Distribution Channel
Supermarket Hypermarket
Specialty Stores
E commerce
Others
By Region
North America
U.S.
Canada
Mexico
Europe
U.K.
Spain
Germany
Italy
France
Rest of Europe
Asia-Pacific
China
South Korea
Australia
Japan
India
Rest of Asia-Pacific
LAMEA
UAE
South Africa
Brazil
Rest of LAMEA
Key Market Players
Whirlpool Corporation
AB Electrolux
Beko plc
Cusimax
BSH Home Appliances
Fisher and Paykel
Siemens AG
LG Electronics Inc.
Haier Inc.
Smeg SpA
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