Report ID: UCMIG25H2018
Report ID:
UCMIG25H2018 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global market size of residential hobs was estimated at USD 11.6 billion in 2018 and is projected to grow at a CAGR of 7.2% from 2019 to 2025. The growth of the market is primarily driven by factors such as increasing per capita income, rising spending capacity, westernization, and product innovation by market players. Manufacturers are constantly innovating to keep up with the rapid pace of technological advancements, which is positively impacting the market by introducing new and improved products to meet consumer demands.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Household Appliances by segment aggregation, the contribution of the Household Appliances in Consumer Durables & Apparel and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG25H2018