Residential Induction Hobs market research is provided on past, current and anticipated market situations, market drivers, trends driving it, and the challenges faced by the market which will help in deciding corporate strategy, product strategy, marketing strategy and sales strategy. Report also contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. Industry experts project Residential Induction Hobs market to grow at a CAGR of 6.30% during the period 2017-2021.
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.
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Residential Induction Hobs Market Trend, Challenge and Driver: –
Residential Induction Hobs Market trend: – 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
Residential Induction Hobs Market Challenge: – 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.
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Residential Induction Hobs Market Driver: – 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.
Research methodology is based on extensive primary and secondary research. Primary research includes in-depth interviews with industry experts, vendors, resellers and customers. Secondary research includes Platform, industry publications, company reports, news articles, analyst reports, trade associations and the data published by Government agencies. Key vendors operating in Residential Induction Hobs market space are Electrolux, Haier, Panasonic, Robert Bosch, Whirlpool and many more.
Geographic Segmentation: – Americas, APAC, EMEA
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With a purpose of enlightening new entrants about the possibilities in this market, this report investigates new project feasibility. A thorough SWOT analysis & investment analysis is provided in the report which forecasts imminent opportunities for the Residential Induction Hobs market players. Moreover, the Residential Induction Hobs industry development trends and marketing channels are analysed.