Need a report that reflects how COVID-19 has impacted this market and its growth?
COVID-19 pandemic has restricted the construction of housing and building projects and the lockdown restrictions have limited the new purchases owing to the uncertainty in the economy and purchasing power parity but is anticipated to bounce back during the forecast period with the changing situations and customers approach towards the pandemic.
The growing e-commerce has been posing as a major competitor to other sellers due to highly competitive discounts and other offers has emerged as the fastest growing segment of the distribution channels in the year 2020, owing to the closure of physical stores for a longer time due to the COVID-19 pandemic. Growing competition and increased consumer demand for innovative products are expected to drive the growth of the Kitchen Hobs Market in Europe. The product innovations introduced are in terms of technology, performance, features, and design. The growing purchasing power, increasing disposable income among the customers and changing style trends in the Kitchen Appliances has propelled the demand for Kitchen Hobs Market in Europe. Similarly, distribution is notably tending towards channels featuring high discounts, including private label goods outlets, mega markets offering high discounts through tax rebates and tie-ups with manufacturers.
Scope of the Report
Unlike ordinary gas stoves, a kitchen hob comes with powerful burners and strong support grills to hold the heavy utensils like pressure cooker. They are built to be perfectly integrated onto the kitchen top. A complete background analysis of the Europe Kitchen Hobs Market, which is segmented by Product (Ceramic Hobs, Induction Hobs, Electric Plate Hobs, Gas Hobs, Gas on Glass Hobs, Domino Hobs) By Distribution Channel (Multi-Brand Stores, Specialty Stores, Online Stores, and Other Distribution Channels) and by Geography (France, United Kingdom, Germany, Italy, Spain, and Rest of Europe).
|Electric Plate Hobs|
|By Distribution Channel|
|Rest of Europe|
Key Market Trends
Growing Urbanisation is driving the market
Growing Urbanization and increased safety of Hobs is significantly contributing to the increased adoption of Hobs in the European Market. Energy-efficient kitchen products are opted by European consumers to minimize the utility bills and are relatively cost effective. Growth in working class population coupled with trend of fast-food consumption has increased health consciousness among customers. Of late, demand for induction cooktops that cook food easily with less oil has increased, which in turn is likely to positively impact the induction cooktop market during the forecast period. Due to the absence of open flames in the Induction Hobs, it is safer than Gas Hobs. With reduced time and low energy usage of Hobs like Induction hobs and Electric plate Hobs are preferred as they can be even cooked at low temperature. The raise of gas prices is a restraint for the growth of the Gas and Gas on Glass Hobs and people are then compelled to opt for alternatives such as energy efficient hobs.
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Raise in Construction Activities is Driving the Market
Kitchen Hobs are used by both residential household and commercially around Europe. They can be either directly installed into the kitchen or can be manually used. But mostly hobs are installed permanently in the kitchen. Due to the rise in construction activities of both commercial and residential sector, resulting from rapid industrialization and urbanization. The market is projected to witness steady growth in the upcoming years. Europe Kitchen Hobs market is driven by Increase in investments in the construction industry, growing urbanisation and rapid industrialisation leading to rise in construction activities. Furthermore, advance features of Hobs such as better reliability, sustainability and energy efficiency are leading to increase demand for Hobs rather than gas stoves.
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The Europe Kitchen Hobs market is moderatly consolidated in nature, In terms of market share. Some of the major international players operating currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies is increasing their market presence by securing new contracts and by tapping new markets.
- On 28th March 2022, Electrolux had reduced its absolute scope 1 and 2 greenhouse gas emissions (direct and indirect in operations) by 78% compared to 2015. This means that the company is four years ahead of its 2025 plan for the science-based target of 80% reduction – the new Electrolux Sustainability Report 2021.
- On 7th March 2022, Whirlpool Corporation (NYSE: WHR) today issued an update on progress towards achieving Net Zero targets the company. It Drove a 27 percent reduction of greenhouse gas (GHG) emissions globally for all Scope 1 and Scope 2 emissions compared to a 2016 baseline, accelerating the company's progress to meet its Net-Zero target by 2030. Achieved 14 percent Scope 3 Category 11 emissions reduction, in line with its target reduction of 20 percent by 2030, compared to 2016 levels
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
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porters Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitutes
4.4.5 Intensity of Competitive Rivalry
4.5 Insights into Latest Technologies Used in the Industry
4.6 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Ceramic hobs
5.1.2 Induction Hobs
5.1.3 Electric Plate Hobs
5.1.4 Gas Hobs
5.2 By Distribution Channel
5.2.1 Multi-Brand Stores
5.2.2 Specialty Stores
5.2.3 Online Stores
5.3 By Geography
5.3.2 United Kingdom
5.3.6 Rest of Europe
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.4 BSH Hausgerate GmbH
6.2.6 Daikin Industries Ltd
6.2.7 LG Electronics*
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
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Frequently Asked Questions
What is the study period of this market?
The Europe Kitchen Hobs Market market is studied from 2018 - 2027.
What is the growth rate of Europe Kitchen Hobs Market?
The Europe Kitchen Hobs Market is growing at a CAGR of >1.5% over the next 5 years.
Who are the key players in Europe Kitchen Hobs Market?
Samsung, Whirlpool, Arcelik, BSH Hausgerate GmbH, Electrolux are the major companies operating in Europe Kitchen Hobs Market.