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.

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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.

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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.