Hobs Market to Rear Excessive Growth during 2031

Transparency Market Research delivers key insights on the global hobs market. In terms of revenue, the global hobs market is estimated to expand at a CAGR of 5.8% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global hobs market.

Companies are expanding their range of hobs by adding different technologies. Manufacturers are increasing their partnerships with different international and local distributors to have a better reach in every region.

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Hobs Market: Key Segments

In terms of product type, increasing requirement for energy efficient and time saving cooking appliances at the global level is propelling the sales of induction hobs. Based on power source, gas line still holds major market share. However, during the forecast period, electric source is likely to witness decent growth due to increase in awareness about energy efficiency and the environment.

In terms of ignition type, automatic ignition holds highest market share due to ease of operation. This type is in high demand in the commercial segment.

In terms of burner, four burner has the highest market share as it provides space for cooking multiple dishes and saves considerable time. Along with this, the growing trend of having a number of cuisines during a meal is driving the segment.

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In terms of end-use, the residential segment holds the dominant market share due to increase in demand for convenient home appliances, including induction hobs, especially in urban regions due to changing lifestyles and time-pressed schedules of most consumers.

In terms of distribution channel, the offline channel has the highest share as consumers like to touch and feel the product before buying. This also helps them to evaluate the size while buying the products.

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Hobs Market: Prominent Regions

The global market for hobs has been divided into North America (U.S., Canada, and Rest of North America), Europe (U.K., Germany, France, and Rest of Europe), Asia Pacific (China, India, Japan, Rest of APAC), Middle East & Africa (GCC Countries, South Africa, and Rest of MEA), and South America (Brazil, Rest of South America). The global hobs market is dominated by Asia Pacific, owing to increasing disposable income and presence of a large consumer base.

Rise in awareness about hobs and convenient cooking is expected to boost the growth of the hobs market in Asia Pacific. The region is also focusing on numerous smart homes projects, which is expected to fuel the growth of the hobs market indirectly during the forecast period.

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