USA Portable Induction Hobs Market: Projected at US$ 86.5 Million by 2033, driven by a CAGR of 6.7%.

NEWARK, DELAWARE, UNITED STATES, September 1, 2023/EINPresswire.com/ -- The portable induction hobs market is estimated to reach a value of US$ 257.2 million in 2023, having grown at a CAGR of 7.3% from 2018 to 2022. By the end of the forecast period 2023 to 2033, sales of portable induction hobs are projected to reach US$ 494.4 million. It is expected to register growth at a CAGR of 6.8% through 2033.

As per the Future Market Insights (FMI) analysis, sales of portable induction hobs rose during the historical period 2018 and 2022 at a CAGR of 7.3%.

The portable induction hobs industry is a segment of the broader kitchen appliance sector that focuses on compact and flexible cooking solutions for consumers. Portable induction hobs have gained acceptance due to their energy efficacy, safety, and convenience features.

Portable induction hobs work by creating an electromagnetic field between the hob surface and compatible magnetic cookware. When the cookware is placed on the stovetop, the electromagnetic field generates an electric current that generates heat directly inside the cookware.

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Induction hobs are highly efficient, transferring heat directly to cookware and minimizing energy waste. Induction hobs allow precise control of cooking temperatures, allowing for precise simmering, boiling, and baking tasks.

Portable induction hobs Demand offers a compact cooking solution, especially in small apartments or as an additional cooking surface. Portable induction hobs are used for outdoor gatherings, camping trips, and picnics. They are also used in event catering for efficient and controlled cooking.

The hob market is influenced by trends such as technological advancements, energy saving, customization options, and the rise of smart appliances.

The industry also offers a variety of efficient, safe, and flexible cooking solutions for consumers. As the demand for convenient and energy-saving kitchen appliances continues to surge, portable induction hobs are poised to play an increasingly important role in modern kitchens and cooking practices.

Key Takeaways from the Portable Induction Hobs Industry Report:

The United States would be valued at US$ 5 million by 2033. The market will further surge at a CAGR of 6.7% by 2033.

The market in China is estimated to increase from a CAGR of 2% from 2018 to 2022 to 6.6% by 2033.

The residential segment is expected to dominate the market by application with a CAGR of 5% over 2023 to 2033.

In the type segment, the low-power induction hobs (below 0.8KW) segment is expected to dominate through 2033.

The United Kingdom is projected to reach a valuation of US$ 17.5 million by 2033.

“The key trends in the market are rapid urbanization and increasing spending of disposable income. Furthermore, the preference for using modern appliances contributes to an increase in the demand for induction hobs. The technical advancement of home appliances is expected to offer lucrative opportunity to manufacturers.” – says a lead analyst at Future Market Insights (FMI)

Competitive Landscape:

The portable induction hobs market is fiercely competitive and is characterized by the presence of several regional and global suppliers. Key suppliers are increasingly competing with each other based on factors such as technology, product pricing, product quality, and product portfolio.

Key Companies Profiled:

Electrolux AB
Groupe SEB
Haier Group
Koninklijke Philips N.V.
LG Electronics, Inc
For instance,

In August 2022, Kent RO Systems Ltd launched the KENT Jewel induction The product has a power consumption of 2000W and 8 preset menus.
In August 2021, Smeg announced the launch of the Area Kitchen, rated as the smartest induction cooker product with characteristics such as smart-follow-pot technology that uses 38 sensors to identify each pot on the

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Get More Valuable Insights

Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global portable induction hobs market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study incorporates compelling insights on the portable induction hobs market by types (low power induction hobs [Below 0.8KW], common power induction hobs [1KW-2.5KW], high power induction hobs [3KW-35KW]) applications (residential, commercial)

Global Portable Induction Hobs Market Segmentation:

Types:

Low Power Induction Hobs (Below 0.8KW)
Common Power Induction Hobs (1KW to 2.5KW)
High Power Induction Hobs (3KW to 35KW)

Applications:

Residential
Commercial

Author By:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Future Market Insights, Inc.
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