New York, NY, Sept. 27, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Household Induction Cooktops Market by Type (Free-standing (Portable) Cooktops and Integrated (Built-in) Cooktops), By Size (Large, Medium, and Small-sized), By Distribution Channel (Online stores, Specialty stores, Supermarkets, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, the global household induction cooktops market was valued at around USD 10,024.14 million in 2017 and is expected to reach approximately USD 13,696.14 million by 2024, growing at a CAGR of around 4.45% between 2018 and 2024.
Induction cooktops are also called as hobs. Induction cooktops provide faster heating and also improves thermal efficiency. It has set a new trend among working women owing to its convenience. The advantage of using household induction cooktops is that it provides precaution. Growing use of advanced appliances in developed countries is the most imperative factor which drives the household induction cooktops market. Increase in consumer interest in modern technology is expected to urge the augmentation of the induction cooktops over the years to come. However, lesser product limitations and increase in price are some of the foremost challenges of the market.
Browse through 105 Tables & 33 Figures spread over 110 Pages and in-depth TOC on “Global Household Induction Cooktops Market Size & Share 2017 Research: Industry Type, Growth, Trends, Overview Analysis and Forecast, 2024”.
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The household induction cooktops market is likely to set a significant growth within the forecast period. The market is mainly driven by the growing demand for household appliances. The cooktop market is growing towards the high value-added product in kitchenware uses. Also, technological advancement in household cooking equipment sets a positive impact for gaining consumer’s attention all over the world. Growing concern about modified products is also expected to boost the growth of the household induction cooktops market during the forecast period. Government rules on the quality and the premium price of the products may obstruct the global household induction cooktops market growth over the forecast period.
The global household induction cooktops market can be segmented on the basis of type, size, and distribution channel. The type segment includes free-standing (portable) cooktops and integrated (built-in) cooktops. Among Built-in cooktops dominated the household induction cooktops market owing to its flexibility and ultra-modern technology. Depending on size, the household induction cooktops market is classified into large, medium, and small-sized cooktops. The distribution channel segment includes online stores, specialty stores, supermarkets, and others. The online store's segment dominated the global household induction cooktops market in 2017, followed by other channels. Online stores give more option and facility to the consumers which are more convenient for the users.
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Based on the geography, the household induction cooktops market is segmented into Latin America, North America, Europe, Asia Pacific, and the Middle East & Africa. Among the aforementioned regions, Europe household induction cooktops market is anticipated to be the fastest growing market between 2018 and 2024. Increasing technological advancement in consumer goods sector is the most important driving factor for the Europe household induction cooktops market within the forecast period. It is well developed and is expected to be productive over the years, owing to high investment by the market players.
North America induction cooktops market is expected to dominate the global market over the forecast period due to the increased adoption of high-tech products. Latin America household induction cooktops market is likely to account for small value share along with comparatively low growth rate over the forecast period. Nevertheless, increasing household appliances, energy saving products, etc. is expected to fuel the growth of household induction cooktops market in the region in the near future. The Middle East & Africa is expected to witness significant growth in the near future. This growth is mainly due to the growing awareness among the middle-class population towards high trend products in the countries such as Iran, Egypt, and others.
Browse the full "Household Induction Cooktops Market by Type (Free-standing (Portable) Cooktops and Integrated (Built-in) Cooktops), By Size (Large, Medium, and Small-sized), By Distribution Channel (Online stores, Specialty stores, Supermarkets, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/household-induction-cooktops-market
In the Asia Pacific region, China household induction cooktops market is anticipated to boost with a rapid rate over the forecast period owing to the changing lifestyle and growing trend towards modern appliances in the country. The developing economies of the region counting China, India, etc. are the major markets for household induction cooktops.
The report includes detailed profiles of key players operating in the global household induction cooktops market such as Daewoo Electronics Corporation, LG Electronics, Philips Electronics, AB Electrolux, Stoves Appliance Company, Panasonic Corporation, Whirlpool Corporation, Haier Group, Sub-Zero Wolf, Videocon Industries Limited, Robert Bosch GmBH, Miele & Cie. Kg, and Fisher & Paykel Appliances Holdings Ltd. The thorough description of players includes parameters such as key developments, company overview, business strategy, and financial overview of the company.
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This report segments the global household induction cooktops market as follows:
Global Household Induction Cooktops Market: Type Segment Analysis
- Free-standing (portable) cooktops
- Integrated (built-in) cooktops
Global Household Induction Cooktops Market: Size Segment Analysis
- Large
- Medium
- Small sized
Global Household Induction Cooktops Market: Distribution Channel Segment Analysis
- Online stores
- Specialty stores
- Supermarkets
- Others
Global Household Induction Cooktops Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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