Advantages Such As Safety And Energy-Efficiency Impels Global Consumers To Opt For Induction Hobs
The research report, titled “Global Induction Hobs Market 2016-2020,” provides a thorough explanation of the factors influencing the trajectory of the global induction hobs market. The document has been compiled using primary and secondary research methodologies to deliver a objective outlook of the overall market. Additionally, the report also includes an assessment of the management styles of the various companies operating in the global market.
According to the research report, the global induction hobs market is expected to surge at a CAGR of 6.98% during the forecast period of 2016 and 2020. The market will be driven by the versatility of the induction hobs as they allow controlled and quick heating while cooking. Additionally, induction cooktops use electricity for generating heat as compared to conventional cooking tops that your natural gas. Thus, induction cooking tops are known to safer than the traditional ones as well as energy-efficient. The research report segments the global induction hobs market on the basis of products into built-in induction hobs and free-standing induction hobs. The researchers have analyzed the strengths, weaknesses, opportunities, and threats that are likely to impact these segments during the forecast period.
Analysts predict that the global induction hobs market will also be led by emerging trend of home improvement projects. As growing number of home owners are changing their kitchen designs to make them energy-efficient, they are likely to generate a significant demand for induction hobs in the coming few years. The technological developments that have made valuable additions to the features of induction hobs have also propelled the demand for this home appliance.
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Despite the strong market drivers, the global market is being stymied due to the extra expense of induction-specific cookware and intensifying competition from other cooking appliances such as electric and gas cooktops. The increasing hazards related to induction hobs are also anticipated to hamper the growth of the global market in the coming years. However, companies are trying to overcome these challenges by introducing new products in the market and designing cooktops that integrate kitchenware to reduce the additional expense.
Some of the key players operating in the global induction hobs market are Kenmore, Bosch, Electrolux, SHARP, Whirlpool, SMEG, Panasonic, Gree Electric, Appliances, Miele, LG Electronics, Haier Electronics Group, Groupe SEB, Koninklijke Philips, Gorenje, Arelik, and Hisense Group. The research report profiles these players and offers a complete analysis of the competitive landscape present in the global induction hobs market. Additionally, the research report also assesses the business and marketing strategies of the key players operating in the global market, their research and development activities, investment plans, and their financial outlook for the coming few years. The report also estimates the bargaining power of suppliers and buyers along with stating the intensity of the competitive rivalry in the global market.
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