Germany Induction Hobs Market Analysis
The Germany Induction Hobs Market is expected to register a CAGR of greater than 3% during the forecast period.
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.
Germany Induction Hobs Market Trends
Growing Urbanization is Driving the Market
Growing urbanization and increased hobs' safety significantly contribute to their increased adoption in the German market. Energy-efficient kitchen products are opted for by German consumers to minimize utility bills and are relatively cost-effective. Growth in the working-class population and fast-food consumption trend increased customers' health consciousness. Of late, demand for induction hobs that cook food quickly with less oil has increased, likely to positively impact the market during the forecast period. Due to the absence of open flames in induction hobs, it is safer than gas hobs. With reduced time and low energy usage, induction and electric plate hobs are preferred as they can be used in low temperatures.
Rise in Construction Activities is Driving the Market
Induction hobs are used by residential households and commercially around Germany. They can be directly installed in the kitchen or manually operated. But mostly, hobs are installed permanently in the kitchen due to the rise in construction activities of commercial and residential sectors resulting from rapid industrialization and urbanization. The market is projected to witness steady growth in the upcoming years. Germany's induction hobs market is driven by increased investments in the construction industry, growing urbanization, and rapid industrialization leading to rising construction activities. Furthermore, advanced features of Hobs, such as better reliability, sustainability, and energy efficiency, are leading to the increasing demand for hobs rather than gas stoves.
Germany Induction Hobs Industry Overview
The German induction hobs market report covers the major players operating in the market. The market is moderately consolidated. Moreover, it is expected to grow during the forecast period due to increased sales and other factors.
Germany Induction Hobs Market Leaders
Samsung
Whirlpool
Arcelik
Electrolux
BSH Hausgerate GmbH
- *Disclaimer: Major Players sorted in no particular order
Germany Induction Hobs Market News
- In March 2022, Electrolux reduced its absolute scope 1 and 2 greenhouse gas emissions (direct and indirect in operations) by 78% compared to previous years. This means that the company is four years ahead of its 2025 plan for the science-based target of an 80% reduction.
- In July 2021, AB Electrolux introduced the SenseFry induction hob, which features an intuitive hob touchscreen, sensors, and assisted cooking programs. The induction hob identifies and maintains an even temperature across the pan's surface.
