Mon, 30 Jan 2023

The built-in hobs market sales is projected to reach a valuation of US$ 3.9 Bn in 2022. Sales are projected to increase at a 7.6% CAGR, with the market surpassing US$ 8.1 Bn by 2032.

Growth in the market is underpinned by availability of large range of products across online and offline distribution channels coupled with growing adoption of modular and innovative appliances.

Further, with the rising urbanization, the demand for convenience, safety, and aesthetic appeal of built-in hobs has surged the sales in the market. Moreover, the development of luxury residences, renovation and restoration of existing kitchens is propelling the demand for premium kitchen appliances.

Furthermore, innovations in technology, such as the introduction of smart kitchen equipment that can be managed remotely, are further accelerating the sales. As more people become concerned about their kitchen aesthetics, the demand for gadgets such as sanitary and oil/smoke-free cooking conditions has grown significantly, pushing the demand for built-in hobs in the market.

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Key Takeaways from the Built-in Hobs Market Study

  • India is expected to be dominate the South Asia built-in hobs market on the back of growing adoption of smart kitchen and home appliances in the country.
  • In terms of product type, the electric hob segment will account for significant share in the global built-in hobs market.
  • By burner-type, 4 burner segment will gain traction over the forthcoming decade in the built-in hobs market.
  • Based on sales channel, exclusive stores are expected to be the leading sales channel for built-in hobs.

Who is winning?

New entrants face moderate to high entry barriers to the market because of the high costs of research and development and the high initial costs of setting up shop. Innovations and player consolidations drive the industry as a whole. To obtain an advantage over their rivals and to expand their product range, manufacturers are focused on numerous facets of innovation.

Major players present in the built-in hobs market are Robert Bosch GmbH, Häfele, Stove Kraft Limited, TTK Prestige Limited, Somany Home Innovation Limited (SHIL), Franke-Faber, CATA Electrodomesticos India, Sunflame Enterprises Private limited, Electrolux AB.

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Built-In Hobs Market By Category

By Product Type:

  • Electric Hobs
  • Ceramic
  • Others (Induction, gas)

By Burner Type:

  • 2 Burner
  • 3 Burner
  • 4 Burner
  • Others

By Sales Channel:

  • Multi-brand Stores
  • Exclusive Stores
  • Online Stores
  • Independent Stores
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East and Africa (MEA)

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The post Growing Adoption of Smart Home Appliances to Push Built-in Hobs Market | Exclusive Report by Future Market Insights, Inc. appeared first on Future Market Insights.

Original Source of the original story >> Growing Adoption of Smart Home Appliances to Push Built-in Hobs Market | Exclusive Report by Future Market Insights, Inc.

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