Hob Market Outlook from 2024 to 2034

The hob market is estimated at USD 22,444.5 million in 2024 and is predicted to reach USD 35,190.6 million by 2034, exhibiting a CAGR of 4.6% during this period.

The industry is driven by factors such as increasing spending capacity of individuals from both developed and developing economies, as well as product development by industry players.

The rising trend of miniaturization on the distribution side is owing to and intensifying in nuclear families that particularly aim to design products that are more compact yet equally efficient.

The building of smart homes is one of the main prominent components fueling the growth. With the emergence of technologies like IoT, the population is becoming conscious of the energy efficiency of induction stoves, which bolsters the demand for hobs globally.

The advancement in technological processes plays a key role in increasing demand. Cost of these products are high compared to other cooktops. Manufacturers introduce a variety of applications and features in the industry. This is due to continued investment in research institutes to make things more advanced and technologically sophisticated.

Wireless hobs are attracting customers through applications such as readily connecting with Bluetooth and Wi-Fi. These are beneficial for alerting individuals to overheating and other purposes. Government supportive initiatives program worldwide to promote clean cooking and heating in areas like urban areas magnify the demand for products.

Hobs are differentiated into multiple sizes such as 2 burners, 4 burners, and 5 burners. In the past decade, Germany has highly produced electricity, with renewable sources now accounting for 40% of the total. This renewable energy is used alternatively for electrical appliances.

Induction is particularly one of the most appealing features of induction cooktops due to the enormous level of energy efficiency they offer. Induction, compared to other methods, is demanding and the most energy-efficient appliance.

Cooktops consume less energy, which has a positive impact on the environment, making it healthier, and might potentially cut the cost of electric bills. This aspect is appreciated by customers.

Attributes Description
Estimated Global Hob Market Size (2024E) USD 22,444.5 million
Projected Global Hob Market Value (2034F) USD 35,190.6 million
Value-based CAGR (2024 to 2034) 4.6%

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Key Industry Highlights

Cloud Kitchens Influence Hob Market with Digital and Portable Innovations

The rising trend of small-scale businesses like cloud kitchens is estimated to play a significant role in the sector. The increasing digitalization and growing popularity of online shopping are boosting internet usage and are predicted to have a positive impact on the household sector for cooktops.

Portable products are gaining popularity in the sector in large numbers. Many electrical appliances are becoming portable, and the advantage of this is that their portability enables them to be transported anywhere. Advanced features and applications like automatic turn-off with dual burners are driving growth.

High Costs of Hobs Challenge Market Appeal, Impacting Consumer Choices

The high cost of the product can be a restraining factor in the industry, especially for the foremost consumer group in economics. Consumers are concerned about energy consumption, which is impacting the demand for energy-efficient stoves. Cooking habits vary across multiple regions, with some preferring induction hobs and others opting for gas or electric hobs.

Due to the high price, consumers are moving to other affordable cooktop options, which might pull demand away from residential hobs. These stoves require regular cleaning, with glass or ceramic hobs being delicate and gas burners needing periodic cleaning. Consumers who find maintenance cumbersome may opt for simpler alternatives, hindering growth.

Smaller Hobs with Advanced Features Take Center Stage as Manufacturers Prioritize Affordability

Manufacturers are focusing on reducing the price of stoves by investing in research and development. This also helps to increase their production, which is useful for targeting the low-economic group. Industries are working on smaller structural stoves to reduce the space utilization in kitchens.

With their small size and fully moderated features, they aim to attract consumers and ensure consumer safety, especially after multiple incidents. These stoves also offer the child lock application, contributing to the industry's success.

2019 to 2023 Global Hob Sales Outlook Compared to Demand Forecast From 2024 to 2034

The hob market experienced a CAGR of 2.9% from 2019 to 2023, magnifying the industry growth and extending to the value of USD 22,444.5 million in 2024. In the past estimated period, the stoves were not developed to appropriate levels with advancing features, limiting their use for specific purposes.

Although the arrival of the hobs is not up to the mark, industrialists significantly support and focus on developments within the research department.

To grow the popularity of the brand, cooker top have introduced products with multiple advanced features, including low prices, to target the low-income segment and provide a wide range of stove sections to impress and attract consumers. Additionally, they enhance benefits like easy transport and modernize the product as per customer requirements.

The hob market focuses on individual factors and domestic regulation changes, which affect current and future trends. Data points such as consumption volumes, production sites, import-export analysis, price trends, raw material costs, and value chain analysis are used to forecast industry scenarios for individual countries.

With the increasing utilization of eCommerce sites, customers can find a variety of products and compare them with the information provided by brands. To reduce competition from these online shopping sites, manufacturers are creating strategic partnerships and announcing products with improved features or applications to enhance their brand portfolios.

Sudip Saha
Sudip Saha

Principal Consultant

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Comparative Market Overview

The following section compares two industries in the home appliance sector. These are the induction cooktop industry and the industrial gas stove industry. Both sectors represent a variety of hobs used in multiple industries and offer multipurpose usage at different levels.

The induction cooktop sector is driven by people's growing awareness of and focus on energy conservation. As sustainability and environmental responsibility become increasingly important, individuals are seeking solutions to minimize energy usage.

Industrial gas stoves have become essential elements in heavy industries, engineered to achieve the required temperature output and fire intensity. The demand for these stoves to provide thermal energy in manufacturing operations has also significantly increased in recent years due to increasing consumerism worldwide.

Induction Cooktop Industry Assessment:

The high demand for induction cooktops in household kitchen appliances is driven by people becoming conscious about energy conservation, which impacts the growth positively. The use of induction cooktops in cooking may minimize waste and contribute to reducing energy expenses. It is popular among consumers as a higher-quality alternative to other cooktop products.

Attributes Description
Related Market Induction Cooktop Market
CAGR (2024 to 2034) 8.3%
Growth Factor Adoption of induction cooking due to faster cooking times and precise temperature control
Opportunity Development of smart induction cooktops with connectivity features, innovative design and aesthetic appeal
Key Trend Demand for portable and compact induction cooktops for small kitchens and outdoor cooking

Industrial Gas Stove Industry Assessment:

The industrial gas stoves utilized in companies aim to achieve the required temperature output and fire intensity necessary for products. There is an increasing demand for industrial gas stoves to provide thermal energy in product formulation operations.

In recent years, various initiatives by the governments of emerging economies to enhance their industries with improved equipment and technology have boosted the sales of industrial gas stoves.

Attributes Description
Related Market Industrial Gas Stove Market
CAGR (2024 to 2034) 3.3%
Growth Factor Focus on energy efficiency and sustainability is driving the adoption of gas-based cooking solutions
Opportunity Offering customized gas stove solutions for specific industrial applications and developing integrated solutions
Key Trend Integration of safety technologies such as flame failure devices and gas leak detection in IoT-enabled gas stoves

Country-wise insights

The forecast analysis of the hob market includes key countries of North America, Asia Pacific, and Europe. India is expected to remain the top player in Asia Pacific with a CAGR of 9% through 2034, followed by China with an 8.3% CAGR. Australia is also set to climb the ladder of success in the industry with a 6.1% CAGR.

Countries CAGR 2024 to 2034
United state 2.8%
Germany 3.7%
China 8.3%
India 9%
Australia 6.1%

Changing Lifestyles Drive Hob Market Expansion in the United States

The industry is projected to register a CAGR value of 2.8% through 2034 in the United States. The population in the United States is experiencing a shift in lifestyle dynamics, with people opting for remote work and preferring to spend more time at home.

This shift has sparked a renewed interest in cooking, decoration, and improving home interior projects, which has pushed the demand for kitchen appliances such as hobs.

In the United States, individuals are spending on renovating accommodations, magnifying their culinary interest and making stoves essential components. However, stoves provide versatility and efficiency, making them the preferred choice and surging demand, leading to sector expansion.

Urbanization and Modernization Propel India’s Hob Market Growth

The hob market is anticipated to register a CAGR of 9% through 2034 in India. The industry has experienced significant growth here, boosted by urbanization, modernization, and the evolution of culinary choices.

The increasing urbanization in India and the numerous people migrating to cities in search of better opportunities are key factors. Additionally, with these changes, people are placing more importance on adopting transformations in lifestyle, with a significant emphasis on modern convenience and efficiency.

This shift is impacting the sectors of kitchen appliances, especially the popularity of stoves. The cultural shift towards highly westernized culinary practices is enhancing advanced cooking technologies such as hobs.

Rising Affluence and Changing Culinary Preferences Boost China’s Hob Market

The industry in China is set to register a CAGR of 8.3% during the forecast period. China's economic prosperity is a main component of the continuous rise in affluence of its population. The rising interest in modern cooking essentials and Western cuisine and cooking techniques is surged by globalization and exposure to international culinary trends.

China's popular search to replicate the culinary experience at home has led to the adoption of advanced developed technologies that enhance the demand for cooker tops, which are important for gourmet cooking. Government agencies are investing in industry expansion. China has witnessed exponential growth, providing multiple opportunities for industries and retailers.

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Category-wise insights

The gas product type segment is estimated to dominate the hob market. The segment is anticipated to hold around 74.5% industry share in 2024. Glass-based hobs are predicted to capture an industry share of 32.2%.

Technological Advancements in Hobs are Transforming Gas Cooking with Automation

Segment Gas (Product Type)
Value Share (2024) 74.5%

Hobs are utilized in various forms in gas stoves. There are multiple varieties available in hobs, which are characterized by 3 burners, 2 burners, and others. There are technological advancements and innovations of new products that upgrade the stove with advanced features to work more smartly and efficiently. These advancements make things automatic and allow people to easily operate them from their smartphones.

Industry players are focusing on investing in research and development to make things easier to operate and enhance the appearance of the gas stove. These innovations have flourished the industry's processes and raised the demand for the production of stoves, gaining popularity among consumers.

Glass Hobs are Modernizing Kitchen Spaces with their Sleek Designs

Segment Glass (Base Material)
Value Share (2024) 32.2%

The innovation in home decoration, particularly in kitchen culinary items, is moving toward modern aesthetics. There are a variety of hobs available in multiple materials, and one of them is glass, which attracts contemporary population. Glass hobs offer smooth surfaces and a sleek, modern look to the kitchen.

Glass stoves conduct heat efficiently, which is important for even cooking. With advanced technology, some glass cooker tops have impressive features like indicator lights to show when the surface is still hot and even provide child locks. They are easy to clean compare to traditional steel burners.

Competition Outlook

In the competitive landscape, this section presents a detailed overview of the competitors' activities aimed at staying ahead in the hob market. The actions include heavy investment in research and development to enhance product quality and innovation, upgrading features and applications to expand sales. Key competitors are launching products that impact their brand portfolios and meet customer requirements.

Key players are collaborating with multiple brands as a strategic move to reduce competition and promote products by combining ideas from collaborative brands.

This enhances the manufacturing process and targets a wide range of the population by expanding distribution channels. Start-ups are focusing on partnerships with large-scale hob manufacturers to offer a variety of products in different materials and capacities of stoves.

Industry Updates

  • In 2024, Havells launched kitchen appliances with the intent to expand their existing product portfolio. Products like cooktops, hobs, chimneys, and other built-in appliances are included. The company expects the new venture to benefit from synergies in sales, aiming to become one of the top 3 players within the next 3 years.
  • In 2023, MasterChef introduced a range of kitchen appliances, including mixer grinders, smart cookers, induction cooktops, gas stoves, hobs, and more. These appliances are designed with advanced technology and sleek, sophisticated designs, aiming to be the "MasterChef of your kitchen." They are built with high-quality materials, ensuring durability and reliable performance. The company also includes safety features like automatic shut-off and heat-resistant materials. MasterChef appliances seamlessly blend into various kitchen styles, providing exceptional durability and offering reliable after-sales support, enhancing the culinary experience for home chefs.

Leading Hob Brands

  • Ethedeal
  • Empava
  • Whirlpool Corporation
  • AB Electrolux
  • Miele & Cie. Kg
  • Panasonic Corporation
  • Arcelik A.S. (Beko)
  • IFB Industries Limited
  • Elica S.p.A.
  • Electron International
  • FABER S.p.A.
  • Bosch-Siemens Hausgeraete GmbH
  • Sunflame Enterprises Private Limited
  • Capella Home Appliances
  • Summit Appliance

Key Segments of Market Report

By Product Type:

Based on product type, the industry is bifurcated into gas and induction.

By Base Material:

Depending on the material, the industry is divided into glass and stainless steel.

By Ignition:

Electricity and gas/liquid fuel are the primary sources of ignition for hobs.

By Burner/Induction Zone:

Based on the burner/induction zone, the industry is categorized into two burners, three burners, four burners, five burners, and six burners.

By Price Range:

Hobs are available in multiple price ranges, starting from priced less than USD 210, priced from USD 211 to USD 419, priced from USD 420 to USD 629, and priced from USD 630 to USD 838.

By Sales Channel:

Hobs are sold through multiple sales channels, including hypermarkets, supermarkets, multi-brand stores, specialty retail stores, online, company websites, and 3rd party online platforms.

By Region:

Regional analysis of the industry includes key countries of North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa.

Frequently Asked Questions

How big is the Hob Market?

The industry size is USD 22,444.5 million as of 2024.

What is the Forecast for the Industry?

Demand is slated to rise at a 4.6% CAGR through 2034.

What is the Hob Market Outlook?

The industry is set to reach USD 35,190.6 million by 2034.

Which Base Material would Lead the Industry?

The glass segment is estimated to hold a significant share in 2024.

Table of Content

1. Executive Summary

2. Industry Introduction, including Taxonomy and Market Definition

3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments

4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections

5. Pricing Analysis

6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034

    6.1. Product Type

    6.2. Base Material

    6.3. Ignition

    6.4. Burner/Induction Zone

    6.5. Price Range

    6.6. Sales Channel

7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type

    7.1. Gas

    7.2. Induction

8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Base Material

    8.1. Glass

    8.2. Stainless Steel

9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Ignition

    9.1. Electric

    9.2. Gas/Liquid Fuel

10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Burner/Induction Zone

    10.1. Two Burner

    10.2. Three Burner

    10.3. Four Burner

    10.4. Five Burner

    10.5. Six Burner

11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Price Range

    11.1. Below USD 210

    11.2. USD 211-USD 419

    11.3. USD 420-USD 629

    11.4. USD 630-USD 838

12. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Sales Channel

    12.1. Hypermarkets

    12.2. Supermarkets

    12.3. Multi-Brand Stores

    12.4. Specialty Retail Stores

    12.5. Online Channels

    12.6. Company Websites

13. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region

    13.1. North America

    13.2. Latin America

    13.3. Western Europe

    13.4. South Asia

    13.5. East Asia

    13.6. Eastern Europe

    13.7. Middle East & Africa

14. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

15. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

16. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

17. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

18. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

19. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

20. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

21. Sales Forecast 2024 to 2034 by Product Type, Base Material, Ignition, Burner/Induction Zone, Price Range, and Sales Channel for 30 Countries

22. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard

23. Company Profile

    23.1. Ethedeal

    23.2. Empava

    23.3. Whirlpool Corporation

    23.4. AB Electrolux

    23.5. Miele & Cie. Kg

    23.6. Panasonic Corporation

    23.7. Arcelik A.S. (Beko)

    23.8. IFB Industries Limited

    23.9. Elica S.p.A.

    23.10. Electron International

    23.11. FABER S.p.A.

    23.12. Bosch-Siemens Hausgeraete GmbH

    23.13. Sunflame Enterprises Private Limited

    23.14. Capella Home Appliances

    23.15. Summit Appliance


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