The worldwide forecast for the Residential Hobs Market expects significant expansion, with a market size estimated at USD 19,994 million in 2023. The estimated CAGR of 6.5% from 2023 to 2033 suggests that the global worth of the residential hobs market is anticipated to soar to an impressive USD 37,531.6 million by 2033.
| Attributes | Details |
|---|---|
| Residential Hobs Market Size (2023) | USD 19,994 million |
| Residential Hobs Market Projected Size (2033) | USD 37,531.6 million |
| Forecasted Value CAGR (2023 to 2033) | 6.5% |
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Modern Consumers Embrace Residential Hobs for Fast and Efficient Cooking Solutions: There is a rising need for appliances that provide fast and efficient cooking solutions as people lead busy lives nowadays. Modern consumers frequently choose residential ceramic hobs because they meet this demand, particularly those with features like lightning-fast heating and accurate temperature control. Customers ' rising purchasing power is another element contributing to the industry's future expansion. Additionally, there is an increased demand for small kitchen appliances among consumers due to the construction of luxury properties and the rehabilitation and restoration of existing kitchens. The residential sector's adoption of contemporary downdraft cooktops has been prompted by the amenities provided in the modern kitchen setup. Over the years, this has increased the global residential induction hobs market's size.
A Fusion of Style and Functionality Revolutionize Kitchen Appliances: The center of attention in kitchen design is now the stove. Homeowners who want equipment that perfectly blends with the decor of their kitchens seek out sleek, contemporary, and fashionable solid plate hobs. In the premium and luxury classes, this tendency is particularly pronounced. Although not totally new, induction ranges are gaining popularity as more communities enact legislation prohibiting gas-fueled appliances. The desire for appliances like hygienic, smoke-free, and oil-free cooking environments has increased dramatically as more people become aesthetically conscious about their kitchens. These types of hobs fit particularly well in contemporary kitchens since they are easy to clean and sit flat and flush with the adjacent countertop. Since induction cooking emits less fumes than gas cooking, a massive extractor or vent hood is not actually necessary. Additionally, manufacturers are introducing the idea of a serene kitchen with a modern gasless stove.
Culinary Heritage Drives Demand for Professional-Grade Gas Hobs: Home cooking has increased as a result of the growing appeal of cooking programs, food blogs, and gastronomic social media platforms. This cultural shift has empowered consumers, inspiring them to recreate restaurant-quality dishes in their own kitchens. For example, the cultural significance of food plays a substantial role in the South America kitchen hobs market expansion. Cooking is an integral part of the region's vibrant culinary heritage. As a result, consumers are now looking for gas hobs that provide professional-grade competence. Simultaneously, a parallel trend toward greater health consciousness has emerged. Consumers are increasingly aware of the impact of cooking methods on the nutritional integrity of their meals. This shift toward healthier culinary practices has given rise to a preference for hobs equipped with features like precise temperature control. Hence, the analysis of smart kitchen appliances has been instrumental in reshaping the landscape of residential hobs. Such technological advancements enable the preservation of vital nutrients in food and provide a versatile cooking experience.
Smart Kitchen Appliances Redefine the Residential Hob Experience: Ongoing developments in hob technology are driving consumer interest and adoption. Manufacturers of gas stoves now have an opportunity to include features like Wi-Fi connectivity and smartphone app controls as more consumers adopt smart home technologies. The rising demand for smart home technologies and the demand to improve the entire cooking experience are the driving forces behind the addition of Wi-Fi connectivity to residential gas hobs. Users can remotely operate their electric cooker using smartphones or other smart devices with the help of Wi-Fi connectivity. In addition, the demand for contemporary gas stoves with smart technology like Internet of Things integration is growing as customer awareness for energy efficiency rises. A broad spectrum of households are likely to discover these technologies to improve cooking efficiency, safety, and convenience.
Eco-conscious Consumers Embrace Advanced Energy-efficient Gas Stoves: The global trend toward energy-efficient appliances is an important driver. The global residential induction hobs market graph is likely to see a considerable increase throughout the projected period owing to the rising demand for environmentally friendly products and to improve power accessibility. Within six months, sales of eco-friendly gas stoves from stove manufacturers increased by 20%. These stoves have cutting-edge sensors and timers. Unlike electric stoves, built-in gas stoves are renowned for their energy efficiency since they use less energy when cooking. For buyers who are concerned about the environment, this eco-friendly feature increases the market share of built-in hobs. Hobs that use less energy save money on utilities and support rising environmental awareness among customers.
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Between 2018 and 2022, the global residential hobs market experienced significant growth, climbing from USD 14,784.9 million to USD 18,829.6 million, showcasing an average 6.2% CAGR. Residential hobs have long been one of the many important components of the home appliance market. With an increased emphasis on modern kitchens during this period, there has been a growing demand for advanced, high-quality hobs.
| Attributes | Details |
|---|---|
| Residential Hobs Market Size (2018) | USD 14,784.9 million |
| Residential Hobs Market Size (2022) | USD 18,829.6 million |
| Historical Value CAGR (2018 to 2022) | 6.2% |
Looking forward, projections suggest a slightly more measured pace, with the market size anticipated to rise from USD 19,994 million in 2023 to USD 37,531.6 million by 2033, reflecting a steady 6.5% CAGR. This growth can be attributed to sustained consumer interest in kitchen innovation and the enduring trend of home cooking. The first half of the projected period is likely to witness market expansion due to an increase in disposable income, which is one of the primary causes of this shift in growth rate.
Another key factor boosting demand for residential stoves is the rise in the number of new residences being constructed each year. As kitchens are considered a focal point in homes, consumers are more inclined to invest in premium hobs, further boosting market revenue. For instance, the rapidly expanding real estate sector, including both residential and commercial developments, has significantly impacted the UAE gas hobs market.
Products with enhanced performance, more energy efficiency, and more compact designs are just a few of the recent industry innovations that have contributed significantly to the rise in demand for home hobs. Furthermore, innovations in hob technology, such as induction cooktops and smart functionalities, are likely to maintain market momentum. This is anticipated to prompt homeowners to upgrade their existing appliances, contributing to residential hobs market growth.
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As per our new residential hobs market report, the market has substantial global growth potential. North America and Europe are both seeing a surge in demand for residential hobs, while Asia Pacific is experiencing particularly robust growth. This trend indicates a thriving market with expanding opportunities in these regions.
The North America residential hobs market, with a special emphasis on the United States and Canada, has dominated the global market in the past couple of years. The United States has established itself as an attractive marketplace in North America for residential hobs. This tends to be driven by a rise in home cooking trends and a preference for contemporary kitchen design.
| Countries | 2023 Value Share in Global Market |
|---|---|
| United States | 29.9% |
| Canada | 3.6% |
Over the projection period, there is likely to come a rise in demand for big kitchen appliances due to the rising number of homes and flats in the United States. The growing demand for high-end indoor appliances in urban and rural parts of the United States is driving the expansion in residential stove sales. Due to increased disposable incomes and improved living standards among consumers, modern appliances are in high demand. Modern kitchen design is made possible by the advanced features of equipment that match the rise in consumer living standards. KENT introduced an all-new product in August 2022 named the Jewel Induction Cooktop. Users of the product could benefit from a speedy and secure cooking experience. Therefore, the USA residential hobs market is anticipated to grow throughout the projected period as a result of such initiatives implemented by regional players.
Besides the United States, Canada also offers considerable growth prospects for residential hobs market players. The idea of integrating modular cooktops originated from the country's citizens' rising economic levels. Consumers are changing their kitchens into spaces for cooking, technology, nutrition, and sustainability due to multifunctional, linked appliances made possible by increasing levels of disposable income and urbanization.
The Europe kitchen hobs market is anticipated to expand as a result of growing customer demand for new goods and escalating competition. The products' technology, performance, features, and design have all undergone innovation. The demand for residential kitchen hobs in Europe has been driven by consumers' rising purchasing power, increasing disposable income, and shifting fashion trends in kitchen appliances.
| Countries | 2023 Value Share in Global Market |
|---|---|
| Germany | 10.6% |
| France | 6.9% |
| Italy | 5.3% |
| Spain | 4.1% |
| United Kingdom | 3.0% |
From 2023 to 2033, European residential hob sales are anticipated to see a sizable CAGR, with Germany accounting for the maximum market's regional revenue. Hob usage in Germany has expanded dramatically due to growing urbanization and improved hob safety. Built-in hobs are becoming increasingly popular in Germany as a result of urbanization and improved safety. Customers are also increasingly more health-conscious due to the expansion of the working class and the popularity of fast food. Moreover, customers are choosing energy-efficient kitchen equipment in Germany because it reduces utility costs and is generally less expensive.
After Germany, France has a sizable residential hob industry, which is fueled by a strong culinary culture and a preference for fashionable kitchen appliances. Buyers in this country frequently try to strike a balance between use, aesthetics, and energy efficiency. Due to its precise temperature control and security features, induction hobs have become increasingly popular. The market in the United Kingdom is moving toward more sustainable goods that provide more extraordinary energy-saving features in kitchen appliances as a result of shifting customer dynamics. Given the large number of young, tech-savvy consumers, the country's demand for residential hobs is driven by technological and appliance innovation advancements.
Asia Pacific is expected to be a lucrative residential hobs market during the forecast period. The market expansion can be attributed to the increasing disposable income and the presence of a large consumer base in the region. Numerous technical advancements in the sector have also stimulated the market. The rising use of smart devices has also resulted in the launch of wirelessly connectable smart residential hobs. Another primary variable driving customers to switch to energy-saving, electric-based residential hobs is the rising cost of cooking fuel.
| Countries | 2023 Value Share in Global Market |
|---|---|
| China | 6.5% |
| Japan | 5.0% |
| India | 4.5% |
| Singapore | 1.2% |
| Australia | 1.1% |
China has seen significant development in recent decades. Many prevalent transformations have occurred in households, including widespread urbanization, spectacular economic expansion, and revolutionary technology advancements. Commercial kitchen equipment sales are growing substantially in China. The residential sector in China is anticipated to have a substantial demand for countertop cooktop, which is expected to drive the market throughout the projected period. The market has seen a tremendous increase due to the growing usage of e-commerce. Induction hob sales online are also expanding significantly, offering the market the opportunity for profit. Given the rising demand for appliances that save time and energy, the market is also developing.
Japan emerged as a significant market in East Asia after China, as the country has always been one of the world's top markets for kitchen appliances. The nation has always provided the international market with many novelties. The residential hobs market in Japan is heavily influenced by new product development. To take advantage of the contemporary features being launched, consumers in Japan routinely change their kitchens, including the kitchen hobs, from time to time. This is another factor in the market's expansion. India chimneys and built-in hobs market is a significant market in South Asia and is anticipated to have the maximum market by the end of 2033. This residential hobs market has been fueled by a spike in the availability of these products in stores and online retailers, as well as the rising demand for more advanced and integrated appliances.
Regarding the burner/induction zones, the two segment dominates the global residential hobs market in 2023, accounting for a 28.1% share. Similarly, the exclusive stores segment takes the lead when considering the sales channel, commanding an impressive 41.1% residential hobs market share in 2023.
| Segment | Market Share in 2023 |
|---|---|
| Two Burner/Induction Zones | 28.1% |
| Exclusive Stores Sales Channel | 41.1% |
Two-burner and induction zones have become popular in households worldwide. The dominance of two-burner/induction zones in the global residential hobs market since they offer a convenient cooking solution for many people. In maximum households, two burners are enough for daily cooking needs. They fit well in smaller living spaces like apartments and condos, where space is limited. The introduction of induction technology has also contributed to their popularity. Its dual-fuel cooktop cooks food faster and is safer compared to traditional burners. It is also more energy-efficient, which satisfies the demand of environment-conscious consumers. Many companies make these hobs in different styles and colors. This means people can find one that matches their kitchen and cooking needs.
Exclusive stores sales channel holds the leading position in the global residential hobs market share. This is because it gives people a unique method to shop. People may speak with knowledgeable specialists regarding hobs in these stores. Customers want to touch and feel built-in hob goods before making a purchase, and these upscale stores also offer technical assistance to help clients understand how to utilize these devices. Additional home appliances from various manufacturers are available at these shops. Consequently, there are numerous choices available for buyers. People trust exclusive stores as they believe that the hobs they sell are of high quality. When people buy something for their house, this trust is crucial. Special discounts and bargains are frequently available at exclusive stores.
The presence of several local and international businesses is what basically distinguishes the global residential hobs market. Manufacturers are concentrating on several aspects of innovation to get an edge over their competitors and to broaden their product line. As it needs significant investment in research and development and hefty startup costs, the market has moderate to high entry barriers for new players. Innovations, mergers, and acquisitions drive the industry as a whole. Manufacturers are focused on several innovation-related areas to differentiate themselves from the competition and expand their product lineups to appeal to low-income consumers.
Recent Developments:
The global residential hobs market is valued at USD 19,994 million in 2023.
The residential hobs market is projected to register a 6.5% CAGR through 2033.
The global residential hobs market size is projected to surpass USD 37,531.6 million by 2033.
Induction hobs dominated the market with the largest share due to their precise cooking control.
The global residential hobs market has shown steady growth, driven by demand for smart and energy-efficient appliances.
Rising consumer focus on energy efficiency, kitchen aesthetics, and technological advancements are driving demand for residential hobs.
Prominent players in the residential hobs market include Bosch, Siemens, Whirlpool, Electrolux, and Samsung, among others.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Gas Hobs 5.2. Induction Hobs 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Price Range 6.1. Low Range 6.2. Medium Range 6.3. High Range 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Burner/Induction Zones 7.1. Two 7.2. Three 7.3. Four 7.4. Five or More Burners/Induction Zones 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Whirlpool Corporation 18.2. AB Electrolux 18.3. Samsung Electronics Co. Ltd. 18.4. Midea Group Co., Ltd. 18.5. Siemens AG 18.6. Robert Bosch GmbH. 18.7. Haier Group Corporation 18.8. Miele & Cie. Kg 18.9. Panasonic Corporation 18.10. Arcelik A.S. 18.11. IFB Industries Limited 18.12. Glen Dimplex Group 18.13. Elica S.p.A. 18.14. Amica S.A. 18.15. SMEG S.p.A. 18.16. FABER S.p.A. 18.17. Bosch-Siemens Hausgeraete GmbH 18.18. Sunflame Enterprises Private Limited 19. Assumptions & Acronyms Used 20. Research Methodology
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Residential Hobs Market
