Household Induction Cook-tops Market to Surpass US$10.5 bn by 2019, Modular Kitchens Trend to be Key Growth Enabler

Transparency Market Research (TMR) has announced the addition of a new market study based on the household induction cook-tops market. The report analyzes the drivers and restraints of the market, and the impact of these on the demand for household induction cook-tops during the forecast period from 2013 to 2019. As per the findings presented in the report, the market is expected to stand at 21.8 mn units by the end of 2019. The report studies the attractiveness of the household induction cook-tops market on the basis of factors such as growth rate and market size. According to the report, the global household induction cook-tops market which was valued at US$7.3 bn in 2012 is expected to be worth US$10.5 bn by 2019, expanding at a CAGR of 5.2% between 2013 and 2019.The report is titled, “Household Induction Cook-tops Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2019.” Based on the information provided in the report regarding the challenges which new entrants face, the strategies used by leading companies in the household induction cook-tops market, and also the market trends, an interested individual or enterprise can effectively make smart decisions in the market.

Household induction cook-tops are considered as one of the advanced technological innovations in the field of cooking ware. The cook-tops, which are alternatively called as hobs, operate on the concept of induction cooking or heating. Household induction cook-tops enable energy efficient cooking and also have other benefits such as safety. The growing disposable income of people is proving to be favorable for the household induction cook-tops market. The increase in the price of fuels used for conventional cook-tops such as gas and electricity is encouraging the adoption of induction cook-tops, thus propelling the market. The trend of modular kitchens in newly built houses and the preference for a convenient and comfortable kitchen environment with enhanced heat control offered by induction cooking is propelling the market.

The household induction cook-tops market is segmented on the basis of type into free-standing or portable household induction cook-tops and integrated or built-in household induction cook-tops. Out of these, the integrated cook-tops dominated the global household induction cook-tops market in 2012 and are projected to retain their dominance, expanding at a 5.3% CAGR during the period from 2013 to 2019. Europe and the Middle East reported high demand for built-in cook-tops as these regions have large houses with a separate space for the kitchen. The size of the kitchen is relatively large as well, considering that these regions have joint families, favoring the market for built-in hobs.

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Geographically, the biggest market for induction cook-tops lay in Europe, accounting for more than one third of the global market. Asia Pacific is projected as the fastest-growing market for household induction cook-tops owing to the rising acceptance of induction cooking as part of improving lifestyle standards. Furthermore, the demand is further expected to be bolstered by real estate developers who adopt modular kitchens as part of their projects. Thus, many of the leading manufacturers of household induction cook-tops are shifting their focus to Asia Pacific.

Product innovation is observed as the key strategy followed by industry leaders, who are introducing cook-tops with multiple hot surfaces, advanced auto cook features, and more trendy designs.

Some of the Key Players in the global household induction cook-tops market that have been studied in the report are: Panasonic, Miele & Cie. KG, Sub-Zero Wolf, Smeg, Philips Electronics, AB Electrolux, Stoves, and Whirlpool.

About Us :

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Demand for Hobs is Highest in Europe, Consumers in Asia Pacific late in Adopting Hobs

The global household induction cook-tops (hobs) market is poised to reach US$10.5 bn by 2019, states a latest report by Transparency Market Research. The report, titled, “Household Induction Cook-tops Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 – 2019,” finds that the rising prices of cooking gas will prompt more consumers to switch to induction cooktops. In terms of volume, the market is predicted to stand at 21.8 mn units by 2019.

The Household Induction Cook-Tops Market refers to the global market for cook-tops, also known as hobs, which operate on the concept of induction heating/cooking. These are considered as one of the advanced technological innovations in the field of cooking. This type of cooking not only has energy efficiency benefits, but also provides health and safety benefits to users. Induction cook-tops, which are relatively new to many regions in emerging Asia-Pacific economies, are already enjoying fast adoption across consumers in Europe. The induction cook-tops market is experiencing a moderate single digit growth rate, and is expected to see gradual rise towards end of the forecast period. This is due to growing awareness and rapid urbanization in Asia-Pacific and Eastern Europe regions.

There are many factors driving the market growth for induction cook-tops, and the key influencer is the growing awareness and rise in disposable income. Induction cook-tops, which are currently considered as high-end consumer products, are gradually finding growing acceptance among consumers. The impact of disposable income growth is further multiplied by various macro and micro economic factors, such as rising fuel cost for conventional cook-tops (gas, electricity, and others), growing trend of modular kitchens in new houses, preference for a comfortable work environment in the kitchen, improved heat control with induction cooking, advanced technologies and their benefits towards healthy cooking, and many more.

Induction cook-tops are of two types, free-standing (portable) and integrated (built-in) cook-tops. Of these, the integrated cook-tops dominated the global household induction cook-tops market in 2012, and is expected to retain its leading position by 2019, growing at a CAGR of 5.3%. Demand for built-in hobs is largely contributed from regions such as Europe and Middle East, which have large houses (floor space and dedicated kitchen space). Even the trend of joint or large families in the region has positive impact on the built-in hobs demand.

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For the same reasons, geographically too, Europe is the biggest market for induction cook-tops, and accounted for more than one third of the global induction cook-tops market. However, the Asia-Pacific market is the fastest growing, and forecast to account for the highest growth share of the global market for induction cook-tops. This is because of growing acceptance of induction cooking as part of lifestyle standards. Moreover, with trend of modular kitchen being promoted by real estate developers for their projects, this demand is further expected to go up in the mid to long term.

As a result, leading players from the white goods industry are quickly moving into the induction cook-tops market in the Asia-Pacific region. Factors, such as high competition from domestic manufacturers in Europe, which has healthy concentration of both domestic and global manufacturers, is also driving these global players to look for opportunities in the Asia-Pacific market. Renowned players in the European market are Miele & Cie. KG, Smeg, Sub-Zero Wolf, AB Electrolux, Stoves, and many more. The popular names in the Asia Pacific market are Philips Electronics, Panasonic, Whirlpool, and others. Product innovation is observed as the key strategy followed by industry leaders, who are introducing cook-tops with multiple hot surfaces, advanced auto cook features, and more trendy designs.

Online journal Of Household Induction Cook-tops Market :

http://www.tmrblog.com/2013/04/household-induction-cook-tops-hobs.html

About Us :

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Industry Forecast Of Household Induction Cook-tops Market Up to 2019

The global household induction cook-top market is progressing at a steady and positive CAGR. According to a research report released by Transparency Market Research, the global household induction cook-top market is expected to reach US$5.2 bn by the end of 2018. The report, titled “Household Induction Cook-tops Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2019”, describes the factors that influence the market and devises forecasts based on the same.

Browse The Market Research Report of Household Induction Cook-tops Market :

http://www.transparencymarketresearch.com/hobs-market.html

According to the report, the global household induction cook-top market is primarily driven by the growing level of acceptance of innovative cooking technologies and consequently higher adoption of induction cook-tops in developing economies.Other factors that are propelling the global household induction cook-top market are the growing global population density, the rise in the number of nuclear families living in smaller and separate houses, and the growing number of women choosing to work over being a housewife. The global household induction cook-top market is also highly influenced by the rising per capita income, as more individuals now have a growing amount of disposable income to spare. This is applicable especially to the developing economies of China and India.

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The global household induction cook-top market is also boosted by the difficulties faced in using fuel-based cook-tops, such as the rising fuel costs and higher rate of pollution. The use of induction cook-tops could help alleviate the economic stress caused by depletion of sources of conventional energy.The report’s regional segmentation reveals Europe to have been the leader in the global household induction cook-top market in 2012. The report, however, states that the household induction cook-top market is growing rapidly in Asia Pacific, which is expected to be the fastest growing regional market in the given forecast period.

Browse Press Release of Household Induction Cook-tops Market :

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The global household induction cook-top market is further divided into segments using the criteria of product type into free-standing and integrated household induction cook-tops. The global household induction cook-top market was led by integrated cook-tops in 2012. The same segment is expected to display a CAGR of 5.30% in the given forecast period, owing to a rise in demand for integrated induction cook-tops from Europe and the Middle East.The key players operating in the global household induction cook-top market are Fisher & Paykel Appliances Holdings Ltd., Stoves Appliance Company (Glen Dimplex Home Appliances Ltd.), Philips Electronics, Sub-Zero Wolf, Haier Group, AB Electrolux, Videocon Industries Limited, Daewoo Electronics Corporation, LG Electronics, Robert Bosch Gmbh, Whirlpool Corporation, Miele & Cie. Kg, Smeg, and Panasonic Corporation.

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The report further states that Whirlpool, Philips Electronics, and Panasonic have had a larger influence on the Asia Pacific household induction cook-top market and are in a position of having strong consumer loyalty associated with the brands.The report also states that further progress can be made in the global household induction cook-top market through innovations in products and design, incorporation of advanced features, and the application of modern materials that allow for a more diverse use of the cook-tops in the house.

Key segments of the Global Household Induction Cook-top Market

Global Household Induction Cook-Top Market, by Product:

• Integrated household induction cook-top
• Free-standing household induction cook-top

Global Household Induction Cook-Top Market, by Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Global Household Induction Cook-tops Market - Industry Analysis, Size, Share, Trends & Forecast 2013-2019

According to a recent report published by Transparency Market Research, the global household induction cook-tops market is estimated to register a moderate growth rate initially, gradually gaining momentum towards the end of the forecast period. The report, titled “Household Induction Cook-tops Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019”, projects that the household induction cook-tops market will reach a total value of US$5.2 billion by 2018.

The global household induction cook-tops market can be segmented by region into North America, Europe, Asia-Pacific, and Rest of the World. Europe is the largest market for household induction cook-tops and holds over one third of the total market share. However, growing acceptance and adoption of these innovative cook-tops in Asia-Pacific countries is estimated to drive the regional market to become the fastest-growing segment of the household induction cook-tops market.

Browse The Market Research Report of Household Induction Cook-tops Market :

http://www.transparencymarketresearch.com/hobs-market.html

By type of product, the market is bifurcated into integrated household induction cook-tops and free-standing household induction cook-tops. Of these, integrated cook-tops led the overall market in 2012 and the segment is projected to register a 5.3% CAGR from 2013 to 2019, garnering high demand from the Middle East and Europe.

The household induction cook-tops market is stimulated by rising global population, growing emergence of smaller households and working women, higher per capita income, and increasing tendencies toward optimized cooking. Moreover, electric household induction cook-tops have been gaining preference over fuel-based cook-tops owing to mounting fuel prices. This has had a positive impact on the global market. Rapid urbanization and growth in disposable incomes in emerging economies such as India is a factor that is expected to boost the household induction cook-tops market in the coming years.

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However, even with these driving factors, the growth rate of the market is not as high as one would have hoped. An analyst with TMR lists out the forces that prove to be a hindrance for the market. “The first-time purchase of household induction cook-tops is quite high and switching costs in terms of magnetic cookware prevent a large section of the target audience from making the change. The trend of outdoor dining and using microwaves and ovens has grown immensely in recent years, thereby threatening the growth of the household induction cook-tops market,” states the analyst.

Some of the promising players of the household induction cook-tops market are Fisher & Paykel Appliances Holdings Ltd., Sub-Zero Wolf, Smeg, Haier Group, Stoves Appliance Company (Glen Dimplex Home Appliances Ltd.), Panasonic Corporation, Miele & Cie. Kg, Daewoo Electronics Corporation, AB Electrolux, Whirlpool Corporation, LG Electronics, Videocon Industries Limited, Philips Electronics, and Robert Bosch Gmbh. Among these, Panasonic, Philips Electronics, and Whirlpool have successfully penetrated the Asia-Pacific market for household induction cook-tops, enjoying strong brand loyalty from customers in the region. Product innovation in terms of design, advanced features, and ability to be used over multiple surfaces is a significant strategy that market players have been investing in, when it comes to household induction cook-tops.

Browse Press Release of Household Induction Cook-tops Market :

http://www.transparencymarketresearch.com/pressrelease/hobs-market.htm

About Us :

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.