Germany Induction Hobs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

Germany's induction hobs market is expected to grow annually at a CAGR of greater than 3% during the forecast period. In Germany, increasing requirements for energy-efficient and time-saving cooking appliances, rising consumer awareness about safe kitchen products, and emerging demand for premium products are some prominent factors driving the market for induction hobs.

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 Market Competitor Analysis

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.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support