The Report Kitchen Appliances Market Analysis By Product (Refrigerator, Cooking
Appliances, Dishwasher), By Application (Commercial, Residential) And Segment
Forecasts To 2022
The global kitchen appliances market is
estimated to worth USD 246.3 billion by 2022, according to a new study by Grand
View Research, Inc. Research and development or innovation by industry
participant is anticipated to boost industry growth over the forecast period.
Energy efficiency, cost,
technology advancement, quality of the products affect the consumers’ buying
decision. Emergence of ecommerce industry and investment in distribution
channels has not only boosted industry participants’ revenue but also has
expanded their reach. Growing demand for product up-gradation is anticipated to
drive industry growth over the next seven years.
Governments worldwide
are focusing on curbing energy consumption through new regulation and consumer
awareness campaign, which is anticipated to drive demand for energy efficient
technology products.
Changing consumer
lifestyle and increasing income level is expected to boost industry growth over
the forecast period. Increasing demand for ready-to-eat food may pose a challenge
to growth over the next seven years.
Access Research Report
of Kitchen Appliances Market @ www.grandviewresearch.com/industry-analysis/kitchen-appliances-market
Further key findings from the study suggest:
· Kitchen appliances include dishwasher,
cooking appliances, refrigerator, and other minor product. Some cooking
products include griller, oven, barbecue, heater, fryer, cooker, etc. Increase
in surplus money and growing dual earning family is expected to drive the
demand for higher end or luxury product. Dishwashers are estimated to witness
substantial growth owing to increasing home maid wage and decreasing time for
household chores. The cooking appliances market is estimated to grow at CAGR of
more than 4% over the forecast period.
· Commercial refrigerators are commonly used
at convenience stores, grocery stores, restaurants, cafeterias, supermarkets,
and other food stores. Increasing in number of fast-food restaurants is
expected to favor commercial segment growth over the forecast period.
Residential segment was valued at more than USD 100 billion in 2014 and is
expected to be the key application sector over the next seven years.
· North America kitchen appliances market is
anticipated to dominate global revenue generation in the coming years. Asia
Pacific kitchen appliances market is anticipated to witness significant growth
owing to increase income level and rising middle class population in the
region. Indian government “Make in India” initiative will not only boost
manufacturing but also enable industry players to offer products at low cost to
Indian customers.
· Europe kitchen appliances market is
expected to be propelled by increasing demand for energy efficient products.
Government in European countries and the European Union are trying to curb
energy consumption through new regulation and consumer awareness program.
· Companies operating in the industry include
Dacor Inc, AB Electrolux, LG Electronics, Haier Group Corporation, Panasonic
Corporation, and Philips Electronics. Other prominent vendors include Morphy
Richards Limited, Samsung Electronics, Robert Bosch GmbH, and Whirlpool
Corporation. In February 2014, Philips announced the availability of Philips
Airfryer, an innovative kitchen appliance in nearly over 100 countries around
the world. In August 2015, Electrolux Professional announced that it had
enhanced its delivery offering to allow dealers and designers access to new
commercial kitchen equipment just 24 hours after ordering. In October 2014,
Electrolux announced the acquisition of Beefeater Barbecues, an Australian
barbecue manufacturer, to increase market growth of niche barbecues in the
region.
Grand View Research has
segmented the kitchen appliances market on the basis of product, application,
and region:
Kitchen Appliances Product Outlook (Revenue, USD Billion,
2012 – 2022)
·
Refrigerator
·
Cooking Appliances
·
Dishwasher
·
Others
Kitchen Appliances Application Outlook (Revenue, USD
Billion, 2012 – 2022)
·
Commercial
·
Residential
Kitchen Appliances Regional Outlook (Revenue, USD
Billion, 2012 – 2022)
·
North America
·
Europe
·
Asia Pacific
·
RoW
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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