Report Ocean presents a comprehensive research report on Electric hobs, analyzing markets in 150+ countries. With access to 1,00000+ annual reports, subject matter experts ensure accuracy. Methods like S.W.O.T., P.E.S.T.E.L., and regression analysis forecast growth. The report covers regulations, research tech, innovation, and future trends in Electric hobs.
The global electric hobs market size was US$ 651.6 million in 2021. The global electric hobs market is projected to grow to $995.1 million by 2030 by registering a compound annual growth rate (CAGR) of 5.9% during the study period from 2022 to 2030.
One of the traditional hob cooking methods is electric. It takes a few minutes for electric stovetops to heat up. On electric hobs, the cooking elements are referred to as cooking rings or zones, and they can have a capacity of two, four, or six. Due to their affordability as the least expensive choice, electric hobs are preferred by many people.
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COVID-19 Impact Analysis
COVID-19 has negatively affected most of the consumer goods sector, which, in turn, also reduced the demand for kitchen appliances. The global electric hobs market recorded a drastic drop in sales as people avoided purchasing luxury products and focused more on daily essentials. Outdoor shopping reduced dramatically as governments imposed lockdown. As a result, it declined the growth of the electric hobs market. Additionally, industry giants in the kitchen equipment industry also cut down their production capacity, considering the decline in consumer demand and the severity of the situation.
Factors Influencing the Market
One of the traditional hob cooking methods is electric. It takes a few minutes for electric stovetops to heat up. On electric hobs, the cooking elements are referred to as cooking rings or zones, and they can have a capacity of two, four, or six. Due to their affordability as the least expensive choice, electric hobs are preferred by many people. Moreover, the fact that it is powered by electricity and does not emit heat right away will boost its demand in the coming years.
Moreover, electric hobs significantly improve food quality, which is expected to escalate the product demand. Additionally, the growing trend of cooking and food-related television programs promoting professional cooking techniques is projected to drive the electric hobs market forward.
Additionally, the future growth of the electric hobs market is anticipated to be fueled by changes in consumer lifestyles, an increase in health consciousness, and a rise in the popularity of cooking at home. Additionally, during the projection period, it is projected that the use of cloud kitchens in the food service sector would open up the attractive potential for the advancement of the electric hobs business.
Regional Analysis
Europe dominated the global electric hobs market in the base year due to the rise in the adoption of advanced technologies in households. The Asia-Pacific electric hobs market is projected to grow significantly in the coming years due to the rising number of campaigns aimed at boosting the use of electric products in the household. For instance, the Go Electric campaign launched by the Bureau of Energy Efficiency (BEE) in 2021 aims to increase the knowledge of the benefits of electric hobs among the end-users. Additionally, the cloud kitchen industry is recording a significant boom in the region, which is expected to open doors of opportunities for the electric hobs market during the analysis period.
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Competitors in the Market
AB Electrolux
Beko plc
BSH Home Appliances
Cusimax
Fisher & Paykel
Haier Inc.
LG Electronics Inc.
Siemens AG
Smeg SpA
Whirlpool Corporation
Other Prominent Players
Market Segmentation
The global electric hobs market segmentation focuses on Size, Distribution Channel, and Region.
By Size
2 Burner
4 Burner
5 Burner
By Distribution Channel
Supermarket Hypermarket
Specialty Stores
E-commerce
Others
By Regional Outlook
North America
The U.S.
Canada
Mexico
Europe
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Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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