Household Induction Cook-tops Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019

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Dec 12, 2014, 03:59 ET

DUBLIN, December 12, 2014 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/5xdx4j/household) has announced the addition of the "Household Induction Cook-tops Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019" report to their offering.

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The household induction cook-tops market refers to the global market for cook-tops, also known as hobs, which operate on the concept of induction heating/cooking. These are considered as one of the advanced technological innovations in the field of cooking. This type of cooking not only has energy efficiency benefits, but also provides health and safety benefits to users. Induction cook-tops, which are relatively new to many regions in emerging Asia-Pacific economies, are already enjoying fast adoption across consumers in Europe. The induction cook-tops market is experiencing a moderate single digit growth rate, and is expected to see gradual rise towards end of the forecast period. This is due to growing awareness and rapid urbanization in Asia-Pacific and Eastern Europe regions.

There are many factors driving the market growth for induction cook-tops, and the key influencer is the growing awareness and rise in disposable income. Induction cook-tops, which are currently considered as high-end consumer products, are gradually finding growing acceptance among consumers. The impact of disposable income growth is further multiplied by various macro and micro economic factors, such as rising fuel cost for conventional cook-tops (gas, electricity, and others), growing trend of modular kitchens in new houses, preference for a comfortable work environment in the kitchen, improved heat control with induction cooking, advanced technologies and their benefits towards healthy cooking, and many more.

Induction cook-tops are of two types, free-standing (portable) and integrated (built-in) cook-tops. Of these, the integrated cook-tops dominated the global household induction cook-tops market in 2012, and is expected to retain its leading position by 2019, growing at a CAGR of 5.3%. Demand for built-in hobs is largely contributed from regions such as Europe and Middle East, which have large houses (floor space and dedicated kitchen space). Even the trend of joint or large families in the region has positive impact on the built-in hobs demand.

For the same reasons, geographically too, Europe is the biggest market for induction cook-tops, and accounted for more than one third of the global induction cook-tops market. However, the Asia-Pacific market is the fastest growing, and forecast to account for the highest growth share of the global market for induction cook-tops. This is because of growing acceptance of induction cooking as part of lifestyle standards. Moreover, with trend of modular kitchen being promoted by real estate developers for their projects, this demand is further expected to go up in the mid to long term.

Key Topics Covered:

Chapter 1 Introduction

Chapter 2 Executive Summary

Chapter 3 Global Household Induction Cook-tops Market Overview

Chapter 4 Global Household Induction Cook-tops Market Analysis, By Product

Chapter 5 Global Household Induction Cook-tops Market Analysis, By Geography

Chapter 6 Company Profiles

Companies Mentioned: