Outlook on the Electric Hobs Global Market to 2031 - by Size, Distribution Channel and Region - ResearchAndMarkets.com

The "Electric hobs Market By Size, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

According to this report the electric hobs market was valued at $665.60 million in 2021, and is estimated to reach $1.0 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031.

Cooking is a decade long activity, which one performs out of necessity or has a personal interest, or rather takes it up as a profession, as food is the basic necessity for human survival. Traditionally, wood energy or gas cooktops were used to cook food. However, evolution of human beings and development of economies & technology has led to rise in production of modern hobs, products, and techniques.

The electric hobs market size is expected to grow, owing to increase in number of chefs, growth in popularity of cooking shows, inclination of both men and women in cooking practices, engagement of children in cooking to try out new dishes, rise in popularity of international level cooking competitions, and advent of new dishes are expected to drive demand for electric hobs industry.

In almost every industry, health & fitness and usage of eco-friendly products have become an ongoing trend. The kitchen appliances industry is observing a similar trend, where demand for green or sustainable products that cause no harm to the surroundings is on the rise.

Product innovation is further driving the electric hobs market growth and enticing consumers toward electric hobs. For instance, Samsung Electronics Co. launched a cooktop with IoT (internet of things) features in 2018, which provides safer and more convenient cooking experiences to users. Thus, innovations in kitchen appliances and preferences toward ease of kitchen operations are few of the factors that support the market trends.

Key findings of the Study

• Region wise, Europe is anticipated to lead the electric hobs market in 2031, growing at a CAGR of 3.3%, from 2022 to 2031.
• By size, the 2 burner segment occupied nearly 39% of the electric hobs market share in 2021.
• By distribution channel, the specialty stores segment dominated the overall market in 2021, and is expected to grow at a CAGR of 4.9% during the forecast period.
• The e-commerce segment is anticipated to grow at the highest CAGR of 5.3%.

Key Market Segments

By Size

• 2 Burner
• 4 Burner
• 5 Burner

By Distribution Channel

• Supermarket Hypermarket
• Specialty Stores
• E commerce
• Others

By Region

• North America
• U.S.
• Canada
• Mexico
• Europe
• U.K.
• Spain
• Germany
• Italy
• France
• Rest of Europe
• Asia-Pacific
• China
• South Korea
• Australia
• Japan
• India
• Rest of Asia-Pacific
• LAMEA
• UAE
• South Africa
• Brazil
• Rest of LAMEA

Key Market Players

• Whirlpool Corporation
• AB Electrolux
• Beko plc
• Cusimax
• BSH Home Appliances
• Fisher and Paykel
• Siemens AG
• LG Electronics Inc.
• Haier Inc.
• Smeg SpA

For more information about this report visit https://www.researchandmarkets.com/r/jhz9dg

View source version on businesswire.com: https://www.businesswire.com/news/home/20221006005775/en/