China Induction Hobs Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

China Induction Hobs Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

China Induction Hobs market is expected to grow annually at a CAGR of greater than 10% during the period (2021 – 2027).

Major brands of consumer electronics and kitchen equipment, including induction hobs, experienced supply chain disruptions due to COVID-19. China is one of the largest consumers and producers of various appliances and consumer electronics products. China also exports several input supplies that are primarily used to produce finished goods.

Induction is currently the fastest method of cooking. It is faster than a kettle at heating water since it moves more quickly than gas. The market has also been significantly boosted by several changes, such as kitchen appliance makers upgrading outdated mechanical controls and displays to reduce after-sale costs. The market in China and other geographies may experience a sharp increase during the forecast period due to the rising demand for eco-friendly appliances and improved access to electricity. In addition, rising demand for modular kitchens is anticipated to support the demand for induction hobs in the future. The advantages of induction hobs, including their quickness, responsiveness, energy efficiency, and usability, are significantly fueling the market's growth.

The rising use of high-tech appliances is anticipated to promote market expansion throughout the forecast period. The market has been significantly boosted by the widespread use of e-commerce, particularly in emerging nations like China. In China, there is expected to be a sizable demand for induction hobs from the residential and commercial sectors, which is expected to drive the market during the forecast period. The household segment is also expected to make up a sizeable portion of the induction hobs market. The online sales of induction hobs are also growing quickly, providing the profit potential for the market. The demand for time- and energy-saving appliances is increasing, which is a key factor in the market's growth.

The Chinese market is being driven by rapid urbanization and rising disposable income. China has the largest population and urbanization. The preference for modern appliances may also boost the growth of the industry in the country. Technical advancements in appliances are anticipated to increase the growth potential for major players in China. However, customers are hesitant to purchase these products as induction hobs need a specific electrical setup, which is done by an electrician. Additionally, not all pans are compatible with an induction hob, leading to the need for a compatible pan.

The report covers major players operating in the Chinese induction hobs market. In terms of market share, few major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets.

• The market estimate (ME) sheet in Excel format
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