Global Residential Induction Hobs Market 2017-2021
About Residential Induction Hobs
Induction hobs are also known as induction cooktops. Cooking hobs that operate on electrical induction technology are called induction hobs. When the burner is turned on, electric current runs through the coil, generating a fluctuating magnetic field but no heat on the burner itself. However, once an iron or stainless-steel pan is placed on the burner, the magnetic field induces many smaller electric currents on the pan. The scope of the report includes residential induction hobs. The global residential induction hobs market is segmented based on type of products such as built-in and portable induction hobs; and distribution channels.
Technavio’s analysts forecast the global residential induction hobs market to grow at a CAGR of 6.30% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global residential induction hobs market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Residential Induction Hobs Market 2017-2021
Technavio recognizes the following companies as the key players in the global residential induction hobs market: Electrolux, Haier, Panasonic, Robert Bosch, and Whirlpool.
Other Prominent Vendors in the market are: Foxconn Electronics, Groupe SEB, Koninklijke Philips, LG Electronics, Middleby Corporation, Midea Group, SAMSUNG, SMEG, and SUMMIT APPLIANCE.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increased focus on multiple features and aesthetics. The similarity of products is a problem that many vendors face. To overcome this challenge, the players are focusing on introducing innovative products that have multiple features and aesthetically appealing. Manufacturers are launching induction cooktops of distinct colors, styles, and attractive designs.”
According to the report, one driver in the market is technology innovation and product line extension. Induction hobs are more highly priced than other cooktops that operate on gas and electricity. This is due to the introduction of technologically advanced cooking appliance. Smart connectivity in cooking appliances such as ranges, cooktops, ovens, and others is one of the latest technologies incorporated in induction hobs. For instance, new induction hobs can be easily connected to smartphones or tablets using wireless technology such as Wi-Fi and Bluetooth, which can send alerts and control and monitor the induction hob from anywhere in the house.
Further, the report states that one challenge in the market is electromagnetic radiation emitting from induction hobs. Induction hobs use magnetic coils to heat the cookware placed on the induction hob. Induction cooktops generate low-frequency electromagnetic radiation, which is similar to microwave radio frequency that passes through the base of the cookware. Failure of covering the cooking zone on induction cooktop completely can expose users to electromagnetic radiations and create health hazards for users, particularly for patients with electronic medical implants such as defibrillators or cardiac pacemakers.
Electrolux, Haier, Panasonic, Robert Bosch, Whirlpool, Foxconn Electronics, Groupe SEB, Koninklijke Philips, LG Electronics, Middleby Corporation, Midea Group, SAMSUNG, SMEG, and SUMMIT APPLIANCE.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook