Global Residential Hobs Market is valued at approximately USD 16 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.7 % over the forecast period 2022-2028. Residential Hobs is a permanent gas stove that is level with the kitchen countertop. This is done by making a cutout within the countertop to place the built-in hob and fixing it with screws. Additionally, the gas pipes and electrical wires are concealed, so as to impart a clutter-free look to the kitchen. The increase in disposable income and increase in the number of new household construction has led to the adoption of Residential Hobs across the forecast period. For Instance: As per IBEF by 2040, the real estate market will grow to Rs. 65,000 crore (US$ 9.30 billion) from Rs. 12,000 crore (US$ 1.72 billion) in 2019. Real estate sector in India is expected to reach US$ 1 trillion in market size by 2030, up from US$ 200 billion in 2021, and contribute 13% to the country's GDP by 2025. Also, with the presence of a large number of regional and multinational companies and growing awareness about the energy efficiency of the product, the adoption & demand for Residential Hobs is likely to increase the market growth during the forecast period. However, Product sustainability and high price of the product impede the growth of the market over the forecast period of 2022-2028.

The key regions considered for the Global Residential Hobs Market study include Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to the technological advancements, presence of a large number of regional and multinational companies. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2022-2028. Factors such as increase in disposable income would create lucrative growth prospects for the Residential Hobs Market across Asia-Pacific region.

Major market players included in this report are:

Arcelik A.S

Whirlpool Corporation

AB Electrolux

Samsung Electronics Co. Ltd.

Midea Group Co., Ltd.

Siemens AG

Robert Bosch GmbH.

Haier Group Corporation

Miele & Cie. Kg

Panasonic Corporation

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:

Gas hobs

Induction hobs

By Price:

Low range

Medium range

High range

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019, 2020

Base year - 2021

Forecast period - 2022 to 2028

Target Audience of the Global Residential Hobs Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors