Market Size of Germany Induction Hobs Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Germany Induction Hobs Market Analysis
Germany's induction hobs market is expected to grow annually at a CAGR of greater than 3% during the forecast period. In Germany, increasing requirements for energy-efficient and time-saving cooking appliances, rising consumer awareness about safe kitchen products, and emerging demand for premium products are some prominent factors driving the market for induction hobs.
Moreover, the increasing number of residential and non-residential development projects and the growing number of food chains and restaurants across Germany propel the market's growth.
The COVID-19 pandemic restricted the construction of housing and building projects. The lockdown restrictions limited new purchases owing to the economic uncertainty and purchasing power parity but bounced back during the forecast period with the changing situations and customers' approach towards the pandemic.
