Germany Induction Hobs Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Germany Induction Hobs Market Analysis
Germany's induction hobs market is expected to grow annually at a CAGR of greater than 3% during the forecast period. In Germany, increasing requirements for energy-efficient and time-saving cooking appliances, rising consumer awareness about safe kitchen products, and emerging demand for premium products are some prominent factors driving the market for induction hobs.
Moreover, the increasing number of residential and non-residential development projects and the growing number of food chains and restaurants across Germany propel the market's growth.
The COVID-19 pandemic restricted the construction of housing and building projects. The lockdown restrictions limited new purchases owing to the economic uncertainty and purchasing power parity but bounced back during the forecast period with the changing situations and customers' approach towards the pandemic.
Germany Induction Hobs Market Trends
This section covers the major market trends shaping the Germany Induction Hobs Market according to our research experts:
Growing Urbanization is Driving the Market
Growing urbanization and increased hobs' safety significantly contribute to their increased adoption in the German market. Energy-efficient kitchen products are opted for by German consumers to minimize utility bills and are relatively cost-effective. Growth in the working-class population and fast-food consumption trend increased customers' health consciousness. Of late, demand for induction hobs that cook food quickly with less oil has increased, likely to positively impact the market during the forecast period. Due to the absence of open flames in induction hobs, it is safer than gas hobs. With reduced time and low energy usage, induction and electric plate hobs are preferred as they can be used in low temperatures.
Rise in Construction Activities is Driving the Market
Induction hobs are used by residential households and commercially around Germany. They can be directly installed in the kitchen or manually operated. But mostly, hobs are installed permanently in the kitchen due to the rise in construction activities of commercial and residential sectors resulting from rapid industrialization and urbanization. The market is projected to witness steady growth in the upcoming years. Germany's induction hobs market is driven by increased investments in the construction industry, growing urbanization, and rapid industrialization leading to rising construction activities. Furthermore, advanced features of Hobs, such as better reliability, sustainability, and energy efficiency, are leading to the increasing demand for hobs rather than gas stoves.
Germany Induction Hobs Industry Overview
The German induction hobs market report covers the major players operating in the market. The market is moderately consolidated. Moreover, it is expected to grow during the forecast period due to increased sales and other factors.
Germany Induction Hobs Market Leaders
-
Samsung
-
Whirlpool
-
Arcelik
-
Electrolux
-
BSH Hausgerate GmbH
*Disclaimer: Major Players sorted in no particular order
Germany Induction Hobs Market News
- In March 2022, Electrolux reduced its absolute scope 1 and 2 greenhouse gas emissions (direct and indirect in operations) by 78% compared to previous years. This means that the company is four years ahead of its 2025 plan for the science-based target of an 80% reduction.
- In July 2021, AB Electrolux introduced the SenseFry induction hob, which features an intuitive hob touchscreen, sensors, and assisted cooking programs. The induction hob identifies and maintains an even temperature across the pan's surface.
Germany Induction Hobs Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porters Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Insights into Latest Technologies Used in the Industry
4.6 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Built-in
5.1.2 Free-Standing
5.2 By Application
5.2.1 Residential
5.2.2 Commercial
5.3 By Distribution Channel
5.3.1 Multi-Brand Stores
5.3.2 Specialty Stores
5.3.3 Online Stores
5.3.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Samsung
6.2.2 Whirlpool
6.2.3 Arcelik
6.2.4 Electrolux
6.2.5 BSH Hausgerate GmbH
6.2.6 Prestige
6.2.7 Philips
6.2.8 ELAG
6.2.9 Frigidaire
6.2.10 GE Profile*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Germany Induction Hobs Industry Segmentation
An induction hob works similarly to an electric hob but has coils beneath its surface that induce electrical current to generate heat in the pan or metal object. It uses less power and remains cold until a pan is placed on it, meaning it uses less energy than other electric hobs. A complete background analysis of the German induction hobs market, which includes an assessment of the national accounts, economy, and emerging market trends by segments, significant changes in the market dynamics, and the market overview, is covered in the report. The German induction hobs market is segmented by product (built-in and free-standing), by application (residential and commercial), and by distribution channel (multi-brand stores, specialty stores, online stores, and other distribution channels). The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.
| By Product | |
| Built-in | |
| Free-Standing |
| By Application | |
| Residential | |
| Commercial |
| By Distribution Channel | |
| Multi-Brand Stores | |
| Specialty Stores | |
| Online Stores | |
| Other Distribution Channels |
Germany Induction Hobs Market Research FAQs
What is the current Germany Induction Hobs Market size?
The Germany Induction Hobs Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Germany Induction Hobs Market?
Samsung, Whirlpool, Arcelik, Electrolux and BSH Hausgerate GmbH are the major companies operating in the Germany Induction Hobs Market.
What years does this Germany Induction Hobs Market cover?
The report covers the Germany Induction Hobs Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Germany Induction Hobs Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Germany Induction Hobs Industry Report
Statistics for the 2024 Germany Induction Hobs market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Germany Induction Hobs analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
