Global Residential Induction Hobs Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Product ;

Built-in induction hobs and Portable induction hobs.

By Distribution Channel;

Offline distribution channel and Online distribution channel.

By Application;

Household and Commercial.

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn626496555 Published Date: March, 2025 Updated Date: April, 2025

Introduction

Global Residential Induction Hobs Market (USD Million), 2021 - 2031

In the year 2024, the Global Residential Induction Hobs Market was valued at USD 566.65 million. The size of this market is expected to increase to USD 786.76 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 4.8%.

The Global Residential Induction Hobs Market has experienced robust growth in recent years, driven by a combination of technological advancements, shifting consumer preferences, and increasing awareness of energy efficiency. Induction hobs, also known as induction cooktops, have gained popularity among consumers worldwide due to their fast heating, precise temperature control, and safety features. This market has witnessed a steady rise as more households recognize the benefits of induction cooking over traditional gas or electric stoves.

The residential induction hobs market encompasses a wide range of products catering to various consumer needs and preferences. These sleek and modern appliances have become a staple in contemporary kitchens, offering not only superior cooking performance but also aesthetic appeal. With advancements in induction technology, manufacturers are introducing innovative features such as touch controls, smart connectivity, and induction zones of different sizes to accommodate diverse cooking requirements. As a result, the market is witnessing increased competition among manufacturers, leading to product innovation and enhancements aimed at capturing a larger market share.

Geographically, the residential induction hobs market exhibits varying trends across different regions. In developed economies such as North America and Europe, the market is well-established, with high penetration rates driven by factors such as growing disposable incomes, urbanization, and a preference for modern kitchen appliances. Conversely, in emerging economies across Asia-Pacific, Latin America, and Africa, the market is experiencing rapid growth fueled by rising middle-class populations, urbanization, and increasing awareness of the benefits of induction cooking.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product
    2. Market Snapshot, By Distribution Channel
    3. Market Snapshot, By Application
    4. Market Snapshot, By Region
  4. Global Residential Induction Hobs Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Energy Efficiency Regulations

        2. Shifting Consumer Preferences towards Modern Kitchen Appliances

        3. Technological Advancements

      2. Restraints
        1. Higher Initial Cost Compared to Traditional Cooking Methods

        2. Limited Compatibility with Certain Cookware Materials

        3. Need for Adequate Power Supply

      3. Opportunities
        1. Increasing Awareness of Environmental Sustainability

        2. Growing Demand for Smart and Connected Kitchen Appliances

        3. Expansion in Emerging Markets

    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitve Rivalry
  5. Market Segmentation
    1. Global Residential Induction Hobs Market, By Product, 2021 - 2031 (USD Million)
      1. Built-in induction hobs
      2. Portable induction hobs
    2. Global Residential Induction Hobs Market, By Distribution Channel, 2021 - 2031 (USD Million)
      1. Offline distribution channel
      2. Online distribution channel
    3. Global Residential Induction Hobs Market, By Application, 2021 - 2031 (USD Million)
      1. Household
      2. Commercial
    4. Global Residential Induction Hobs Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Electrolux
      2. Haier
      3. Panasonic
      4. Robert Bosch
      5. Whirlpool
      6. LG Electronics, Inc.
      7. Whirlpool Corporation.
      8. Panasonic Corporation.
      9. Koninklijke Philips N.V.
      10. Robert Bosch GmbH
  7. Analyst Views
  8. Future Outlook of the Market