Need a report that reflects how COVID-19 has impacted this market and its growth?
COVID-19 has influenced the home appliance and gas hob supply chain. China is a major consumer and manufacturer of various home appliances and consumer electronics, but it also exports a range of raw materials needed to build finished goods to countries such as Bahrain. As a result, the gap between supply and demand is increasing. However, following the pandemic lockdown, new restaurants, pubs, and hotels are opening, resulting in a significant increase in the demand for gas stoves.
Technological improvement has led to the introduction new goods such as hobs into the Bahrain kitchen appliances industry, which is driving the market. Hobs are contemporary gas stoves incorporated into our kitchen slabs, saving a significant amount of room. Kitchen hobs are one of the most important pieces of cooking equipment and can be found in almost every modern home. One of the key reasons for the surge in demand for hobs in the market is the introduction of innovative features such as flame failure detection technology, which immediately turns off when gas leakage is detected.
Scope of the Report
Cooking gadgets that use natural gas or propane as a fuel source are known as gas hobs. They are available in various sizes, forms, and styles to meet the demands of different types of kitchens. A built-in hob, for example, is installed inside the kitchen cabinet or frame, but a free-standing gas stove may be put on any flat surface area inside your cooking zone. Bahrain Gas Hobs Market segmented by Type (Built-In Hobs, Free-Standing Hobs), By Application (Hotel, Apartment, Luxury Villa, Others).
Key Market Trends
Technological Advancement is Playing a Vital Role
Technological advancements are helping to increase demand for the product. Although the device is more expensive than other cooktops, customers are becoming more aware of the difference in energy efficiency, which drives up demand. These hobs may be readily connected to smartphones via wireless connections like Wi-Fi and Bluetooth, sending notifications and allowing management from anywhere in the house.
However, because most of the consumer group is frugal, the product's high price may operate as a restricting force in the market, and other less expensive cooktops may draw the market in the coming years.
To understand key trends, Download Sample Report
Urbanization and Smart Homes Helping to Growing the Market
The increasing number of smart homes is also helping to drive up demand for hobs in the market. Hobs are constructed in such a way that they use less energy or fuel to do the same work as a traditional cooktop, which is a big draw for customers and drives up demand for hobs in the market. Consumer spending power is also playing a part in moving consumer preferences away from traditional cooktops and toward more modern cooking equipment like hobs, which is proving to be a growth driver for the hobs market.
Furthermore, due to a rise in nuclear families, a growing trend of miniaturization on the supply side has led to the production of more compact items while maintaining the same efficiency. One of the most important aspects driving market expansion is the rise of smart homes. Consumers are becoming more aware of the energy efficiency of induction hobs as a result of emerging technologies such as IoT, which is increasing the overall demand for the product in Bahrain.
The report covers major players operating in the Bahrain gas hobs market, their product portfolio, key financials, and developments. The market is transforming with many technological advancements through product innovation and process automation. The key market players are focusing on improving their production capacity, which will help them to increase exports.
- In 2022, LG Bahrain launched LG 5 Gas Burners Cooker LF98110SS, which is 900 x 600 x 850 mm in dimensions and free standing. Its oven capacity is 90 liters which are 5 gas hobs.
- In 2019, LG Electronics (LG) and LUMI United Technology, a supplier of Internet of Things (IoT) and smart home solutions, agreed to collaborate on developing an ecosystem beyond simple appliance management to create a more comprehensive IoT solution for the home.
Table of Contents
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 Insights on Various Regulatory Trends
4.5 Insights on impact of technology and innovation
4.6 Industry Attractiveness - Porters' Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Built-In Hobs
5.1.2 Free-Standing Hobs
5.2 By Application
5.2.3 Luxury Villa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.2 Samsung Electronics
6.2.3 Electrolux AB
6.2.5 Panasonic Corporation
6.2.7 Hitachi, Ltd.
6.2.8 Concord Home applinace
6.2.9 Haier Electronics Group
6.2.10 Arcelik A.S
6.2.11 BSH Home Appliances Group*
7. MARKET OPPORTUNTIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
You can also purchase parts of this report. Do you want to check out a section wise price list?
Frequently Asked Questions
What is the study period of this market?
The Gas Hobs Market market is studied from 2018 - 2027.
What is the growth rate of Gas Hobs Market?
The Gas Hobs Market is growing at a CAGR of >5% over the next 5 years.
Who are the key players in Gas Hobs Market?
LG, Electrolux AB, Samsung Electronics, Midea, Panasonic Corporation are the major companies operating in Gas Hobs Market.