Europe Induction Hobs Market Size (2024 - 2029)

The Europe Induction Hobs Market is experiencing growth, driven by increasing sales in key countries such as Germany, France, the United Kingdom, Italy, and Spain. The market size is influenced by the rising demand for energy-efficient cooking solutions, particularly in urban areas with high development indices. The COVID-19 pandemic initially hindered market expansion due to reduced economic activities and demand from small businesses. However, the shift towards e-commerce has emerged as a significant factor in the market's growth trajectory, offering competitive advantages over traditional retail channels.

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Market Size of Europe Induction Hobs Industry

Europe Induction Hobs Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 4.50 %
Market Concentration Medium

Major Players

Europe Induction Hobs Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Induction Hobs Market Analysis

Europe Induction Hobs Market is poised to grow at a CAGR of 4.5% during the forecast period. 

In Europe, Induction hobs sales are rapidly increasing in Germany, France, the United Kingdom, Italy, and Spain. Free-standing induction hobs account for around 46% of the total induction hobs market in 2021. With rising gas costs and a growing preference for energy-saving equipment, demand for induction hobs is expected to rise throughout Europe over the next 5 years.

The COVID-19 pandemic adversely impacted the Induction hobs market in Europe. The shutting down of businesses and the cease of economic activities have hampered the demand for Induction hobs sales. Also, the reduced demand for induction cooktops by small cafes and restaurants, owing to the imposition of the lockdown has further hindered the demand for induction hobs to some extent.

The growing e-commerce has been posing as a major competitor to other sellers due to highly competitive discounts and other offers have emerged as the fastest growing segment of the distribution channels in the year 2020 owing to the closure of physical stores for a long time due to the COVID-19 pandemic.

In Europe, demand for household induction cooktops is high among the urban population, especially in high development index (HDI) countries like Germany, Switzerland, Iceland and Norway due to factors such as high purchasing power, better infrastructural facilities, and an increase in the working population, demand for induction cooktops is also high among working women, owing to healthy cooking options and ease of operations.

Europe Induction Hobs Industry Segmentation

An induction hob is a new way of cooking that is so much faster and safer than traditional gas or electric hobs. The induction hob itself stays almost completely cold, as induction puts the heat directly into the base of the pan. There's less risk of burning oneself on the hob, and the built-in child safety lock gives extra peace of mind and the highest level of safety. Europe Induction hobs market is segmented by Product (Built-in and Free-standing), by End-user (Household and Commercial), by Distribution channel (Online and Offline), and by Country (Germany, United Kingdom, France, Italy, Spain, and the Rest of Europe).

By Product
Built-in
Free-standing
By End-user
Household
Commercial
By Distribution Channel
Online
Offline
By Country
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
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Europe Induction Hobs Market Size Summary

The Europe induction hobs market is experiencing a notable growth trajectory, driven by increasing sales in key countries such as Germany, France, the United Kingdom, Italy, and Spain. The market is characterized by a significant demand for free-standing induction hobs, which constitute a substantial portion of the market share. The rising costs of gas and a growing inclination towards energy-efficient appliances are propelling the demand for induction hobs across the region. Despite the challenges posed by the COVID-19 pandemic, which temporarily dampened sales due to business closures and reduced demand from the hospitality sector, the market is rebounding. The surge in e-commerce, spurred by the pandemic, has also contributed to the market's expansion, offering competitive pricing and convenience to consumers.

The demand for household induction cooktops is particularly strong among urban populations in high development index countries, where factors such as high purchasing power and advanced infrastructure play a crucial role. The adoption of high-tech smart appliances is further boosting the market, with countries like Germany leading in smart home device integration. The commercial sector is also witnessing growth, with increased use of technologically advanced induction hobs in hotels and restaurants, especially in the UK, Italy, and Germany. The presence of major industry players and their focus on technological innovation and product features are expected to drive market growth. The rising number of eateries and fast food outlets, fueled by increasing disposable incomes and busy lifestyles, is also contributing to the market's expansion. Key players in the market include Siemens, Bosch, Electrolux, Haier, and Miele, with ongoing product innovations and new market entries enhancing their competitive edge.

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Europe Induction Hobs Market Size - Table of Contents

  1. 1. MARKET DYNAMICS AND INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Industry Attractiveness - Porters' Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitutes

      5. 1.4.5 Intensity of Competitive Rivalry

    5. 1.5 Insights on Various Regulatory Landscape

    6. 1.6 Insights on impact of technology and innovation in the market

    7. 1.7 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product

      1. 2.1.1 Built-in

      2. 2.1.2 Free-standing

    2. 2.2 By End-user

      1. 2.2.1 Household

      2. 2.2.2 Commercial

    3. 2.3 By Distribution Channel

      1. 2.3.1 Online

      2. 2.3.2 Offline

    4. 2.4 By Country

      1. 2.4.1 Germany

      2. 2.4.2 United Kingdom

      3. 2.4.3 France

      4. 2.4.4 Italy

      5. 2.4.5 Spain

      6. 2.4.6 Rest of Europe

Europe Induction Hobs Market Size FAQs

The Europe Induction Hobs Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)

Bosch, Electrolux, Siemens, Miele and Whirlpool are the major companies operating in the Europe Induction Hobs Market.

Europe Induction Hobs Report Snapshots

Europe Induction Hobs Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)