An Incisive, In-depth Analysis on the Residential Hobs Market

This study offers a comprehensive, 360 degree analysis on the Residential Hobs market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Residential Hobs market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

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In the recent past, the buying behavior of consumers has witnessed dramatic changes. These days, consumers are very particular about the products they use in their homes, especially in their kitchens. While buying any commodity, the major focus of consumers is on certain factors such as technological advancement, compactness, convenience, and the comfort of usage.

As a result, the residential hobs market has been constantly witnessing the introduction of features and new trends from time to time, which cater to the requirements and demands of target customers. The supply-side participants of the residential hobs market are also coming up with products that provide better efficiency and, at the same time, minimize the efforts of consumers.

At an estimated robust CAGR of 6.3% over the forecast period of 2019-2027, the global residential hobs market is estimated to reach a valuation of over US$ 15 Bn in 2019.

Trends in the residential hobs market have been varying on a regional basis. The innovation of products with better performance, energy efficiency, and more compact designs has been a key factor that is boosting the demand for residential hobs. Ever since their emergence, residential hobs have been among the most important parts of the household appliances industry.

Global Residential Hobs Market: Growth in residential construction housing, coupled with technological advancements, is fuelling the demand for residential hobs

By product type, the global residential hobs market is segmented as gas hobs and induction hobs. The gas hobs segment is estimated to account for a relatively high-value share in the global residential hobs market. This segment is expected to remain dominant during the forecast period. In the global residential hobs market, the induction hob segment is estimated to account for more than 55% value share in 2019 and is expected to expand at a robust CAGR during the forecast period.

By price range, the global residential hobs market is segmented as a low range, medium range, and high range. The medium range residential hobs segment is estimated to account for a relatively higher value share in the global residential hobs market. This segment is expected to remain dominant during the forecast period. The medium range residential hobs segment of the global residential hobs market is estimated to account for a sizable value share in 2019 and is expected to expand at a strong CAGR over the forecast period.

Based on the number of burners/induction zones of residential hobs, the global residential hobs market is segmented as two, three, four, and five or more burners/induction zones. The four burner/induction zone segment dominates the global residential hobs market owing to its capability to cook multiple items at the same time. The four burner/induction zone type residential hobs segment has the highest share of more than 1/3^rd of the total residential hobs market revenue, during the forecast period.

The global residential hobs market is further segmented on the basis of the sales channel. The sales channel segment includes exclusive stores, multi-brand stores, online stores, independent stores, and others. Among all the sales channel segments, the exclusive stores' segment is expected to account for the largest share in terms of value. Exclusive stores account for almost 2/5^th of the total sales of residential hobs and will also register a considerable growth by the end of the forecast period.

Global Residential Hobs Market Dynamics: Rising demand for smart homes, backed by improving disposable income

The demand for residential hobs is rising owing to an increase in disposable income, which is making residential hobs more affordable. Increase in the number of new household construction is one of the major factors driving the demand for residential hobs. Participants of the residential hobs market are coming up with products with additional features at attractive prices, which are affordable for all segments of the society.

Global Residential Hobs Market Competitive Landscape: Multinational players are relatively highly concentrated in the global residential hobs market as compared to local & regional manufacturers of residential hobs

The global residential hobs market is primarily characterized by the presence of a large number of regional and multinational companies. The detailed profiles of companies are also included in the global residential hobs market report to evaluate their strategies, key product offerings, and recent developments. Some of the key players profiled in the global residential hobs market study include Whirlpool Corporation; AB Electrolux; Samsung Electronics Co. Ltd.; Midea Group Co., Ltd.; Siemens AG; Robert Bosch GmbH.; Haier Group Corporation; Miele & Cie. Kg; Panasonic Corporation; Arcelik A.S.; IFB Industries Limited; Glen Dimplex Group; Elica S.p.A.; Electron International; Amica S.A.; SMEG S.p.A.; FABER S.p.A.; Bosch-Siemens Hausgeraete GmbH; Sunflame Enterprises Private Limited; and Capella Home Appliances.

This report provides the forecast and analysis of the global residential hobs market. It provides analysis on the basis of the historical data and forecast from 2019 to 2027 in terms of revenue (US$ Mn). The report reveals the market dynamics in seven geographic segments, along with an analysis of the current and future scenario. In addition, it includes the drivers, restraints, and recent trends of the residential hobs market. The report also comprises opportunities for residential hobs manufacturers and highlights the value chain analysis in detail. The study demonstrates the market dynamics and trends across regions that are expected to influence the current status and future prospects of the residential hobs market.

The report studies the global residential hobs market for the period 2019–2027. The prime objective of this report is to offer quantitative and qualitative insights and study the key market trends pertaining to the global residential hobs market, which gradually help transform businesses.

The market numbers have been assessed by carefully scrutinizing the residential hobs spending of countries in all the seven key regions for the current year, as well as the historical performance of the market. The market size and forecast for each segment in the residential hobs market has been provided in the context of the regional markets. All the segmentation for residential hobs market has been considered after appropriate secondary research and revalidation of the data obtained through interviews with key thought leaders and industry experts. The market has been forecast based on constant currency rates. The report includes the revenue generated from the sales of residential hobs across all regional economies.

The report begins with an executive summary intended to provide a clear perspective of the market to the reader. It is then followed by residential hobs market overview and provides residential hobs market definition and analysis of drivers, restraints, opportunities, and key trends in the market. The sections that follow include an analysis of the global residential hobs market by product type, price range, burner/induction zones, and sales channel.

The residential hobs market is primarily segmented by product type, price range, number of burner/induction zones, and sales channel. The product type of the residential hobs market is sub-segmented as gas hobs and induction hobs. By price range, the residential hobs market is segmented into low range, medium range, and high range. Based on the number of burner/induction zones, the residential hobs market is sub-segmented as two, three, four, and five or more burners/induction zones. The global residential hobs market is further segmented on the basis of the sales channel. The distribution channel segment includes exclusive stores, multi-brand stores, online stores, independent stores, and others

All the above sections evaluate the market on the basis of the various factors affecting the market, which cover the present scenario and future prospects. For market data analysis, the report considers 2018 as the base year, with market numbers estimated for 2018 and forecast made for 2019–2027. All the segmentation of the residential hobs market has been considered after appropriate secondary research and the revalidation of the data obtained through interviews with key thought leaders in the industry. The market has been forecast based on constant currency rates.

The next section of the report highlights the market by region and provides the market outlook for 2019–2027. The study investigates the regional Year-On-Year (Y-o-Y) growth of the residential hobs market. Key regions assessed in this report include North America, Latin America, Europe, Asia Pacific Excluding Japan, Middle East & Africa, and Japan. The report evaluates the present scenario and growth prospects of the regional market for 2019–2027.

The residential hobs market numbers have been assessed based on sales and weighted average pricing by material and product type. The aggregate revenue is derived through weighted average country pricing trends. The residential hobs market size and forecast for each segment has been provided in the context of the country. The residential hobs market has been analyzed based on the expected demand and current spending scenario. The prices considered for the calculation of revenue are the average country prices obtained through primary quotes from numerous regional residential hobs manufacturers, suppliers, and distributors. All the key product types have been considered on the basis of secondary sources and feedback from primary respondents. Country-wise demand patterns have been considered while estimating residential hobs consumption across various regions. The residential hobs market numbers for all the regions by product type, price range, number of burner/induction zones, and sales channels have been derived using the bottom-up approach, which is cumulative of each country’s demand. The company-level residential hobs market share has been derived on the basis of the revenues reported by key manufacturers. The residential hobs market has been forecast based on constant currency rates. Given the characteristics of the market, we have triangulated the outcome on the basis of three different types of analysis: based on the supply side, demand side analysis of the residential hobs market, and the impact of macro-economic factors on the residential hobs market. In addition, it is imperative to note that, in a fluctuating global economy, we not only conduct market forecasts in terms of Compound Annual Growth Rate (CAGR) but also analyze the market based on key parameters, such as Y-o-Y growth rates, to understand the predictability of the residential hobs market and to identify the right opportunities for players.

The segments of the global residential hobs market have been analyzed in terms of Basis Point Share (BPS) to understand the relative contributions of each segment to market growth. This detailed level of information is important for identifying the various key trends in the residential hobs market. Another key feature of this report is the analysis of the market in terms of the absolute dollar opportunity represented by the sales of residential hobs. Absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve, as well as to identify the lucrative segments. The overall absolute dollar opportunity represented by the residential hobs market is mentioned in the report. To understand key growth segments in terms of the growth and adoption for residential hobs in the global market, FMI has developed the market ‘Attractiveness Index.’ This index is expected to help providers identify real market opportunities. A number of primary and secondary sources were referred to during the course of the study. Some of the secondary sources include IMF, World Bank, Hoovers, Factiva, the annual reports of companies, and government associations & publications.

In the final section of the report on the residential hobs market, a ‘dashboard view’ of companies has been provided to compare the current industrial scenario and their contribution to the total residential hobs market. Moreover, it is primarily designed to provide clients an objective and detailed comparative assessment of the key providers specific to a segment of the residential hobs market. Report audiences can gain segment-specific manufacturer insights to identify and evaluate their key competitors in the residential hobs market. The detailed profiles of companies are also included in the report to evaluate their strategies, key product offerings, and recent developments. Some of the key players of the global residential hobs market include Whirlpool Corporation; AB Electrolux; Samsung Electronics Co. Ltd.; Midea Group Co., Ltd.; Siemens AG; Robert Bosch GmbH.; Haier Group Corporation; Miele & Cie. Kg; Panasonic Corporation; Arcelik A.S.; IFB Industries Limited; Glen Dimplex Group; Elica S.p.A.; Electron International; Amica S.A.; SMEG S.p.A.; FABER S.p.A.; Bosch-Siemens Hausgeraete GmbH; Sunflame Enterprises Private Limited and Capella Home Appliances.