Global Household Induction Cook Tops (Hobs) Market- Growth | key Industry Players | Analysis | Forecasts to 2023

The global household induction cook tops (hobs) market is escalating, at a swift pace. Compared to the traditional cooking surface, induction cookers avoid gas combustion, respond quickly, are very energy efficient, and limit the risk of burns. Advanced features, product innovation in terms of design, and ability to be used over multiple surfaces are some of the opportunities, which are expected to give a major boost to the global household induction cook tops market, during the forecast period.

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By product type, the household induction cook tops (hobs) market can be categorized into free-standing household induction cook-tops, and integrated household induction cook-tops. The integrated household cook tops dominates the market by product type, and is also expected to retain its leading position, in the forecast period.

Europe is the largest market for household induction cook-tops, and accounts for more than one third of the global induction cook-tops market. Asia-Pacific market is the fastest growing, and is expected to account for the highest growth share of the global market for induction cook-tops, due to increasing acceptance of induction cooking, as a part of lifestyle standards. Increasing transformation in developing countries, such as Brazil, India, China, and few Latin American countries is anticipated to serve, as a growth factor for the household induction cook-tops market.

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The major competitors in the global household induction cook tops market include LG Electronics, Panasonic Corporation, Koninklijke Philips N.V., Robert Bosch GmbH, Whirlpool Corporation, Dongbu Daewoo Electronics Corporation, Videocon Electronics and Haier Inc. Among these, Philips Electronics, Panasonic, and Whirlpool Corporation are enjoying heavy brand loyalty from consumers in Asia-Pacific, and have successfully entered the region of the household induction cook-tops market.

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