Market Size of China Induction Hobs Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 10.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Induction Hobs Market Analysis
China Induction Hobs market is expected to grow annually at a CAGR of greater than 10% during the period (2021 - 2027).
Major brands of consumer electronics and kitchen equipment, including induction hobs, experienced supply chain disruptions due to COVID-19. China is one of the largest consumers and producers of various appliances and consumer electronics products. China also exports several input supplies that are primarily used to produce finished goods.
Induction is currently the fastest method of cooking. It is faster than a kettle at heating water since it moves more quickly than gas. The market has also been significantly boosted by several changes, such as kitchen appliance makers upgrading outdated mechanical controls and displays to reduce after-sale costs. The market in China and other geographies may experience a sharp increase during the forecast period due to the rising demand for eco-friendly appliances and improved access to electricity. In addition, rising demand for modular kitchens is anticipated to support the demand for induction hobs in the future. The advantages of induction hobs, including their quickness, responsiveness, energy efficiency, and usability, are significantly fueling the market's growth.
