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The kitchen appliances market share is expected to increase by USD 41.91 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.62%.
This kitchen appliances market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the kitchen appliances market segmentation by application (residential and commercial), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The kitchen appliances market report also offers information on several market vendors, including AB Electrolux, BSH Hausgerate GmbH, Dacor Inc., Fisher & Paykel Appliances Inc., General Electric Co, Glen Dimplex Europe Holdings Ltd., Groupe SEB, Haier Smart Home Co. Ltd., Havells India Ltd., KitchenAid Corp USA, Koninklijke Philips NV, Kutchina Home Makers Pvt. Ltd., LG Electronics Inc., MIDEA Group Co. Ltd., Miele & Cie. KG, Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Smeg SpA, and Whirlpool Corp. among others.
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The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the global kitchen appliances market.
Key Kitchen Appliances Market Driver
The growing demand for premium, innovative smart kitchen appliances is one of the key factors driving the global kitchen appliances market growth. Growing innovation and technological advances have changed consumer preferences and propelled the demand for innovative products. Customers also look for appliances that are eco-friendly, have a user-friendly interface, and can perform tasks with minimum energy. This has compelled vendors to continually engage in R&D and innovation to sustain themselves in the highly competitive market environment. The global kitchen appliances market witnesses major product innovations in terms of technology, features, performance, and design. With growing purchasing power and rising disposable income, customers are gradually increasing their spending on premium kitchen appliances. This has encouraged vendors to invest in innovative raw materials and technologies that have a positive impact on the performance of appliances and hence alter the interior aesthetic appeal of a house. To that extent, kitchen appliance vendors focus more on their pricing strategies to increase their bottom-line (profit) margins by charging a premium price for innovative and tech-savvy kitchen products. Thus, the growing demand for premium, innovative appliances works as a price-metric parameter for market participants, which will further fuel the growth of the market in APAC during the forecast period.
Key Kitchen Appliances Market Trend
The increased adoption of modular kitchens will fuel the global kitchen appliances market growth. The renovation of the regular kitchen into a modular kitchen is a growing trend. This is due to the improving living standards spurred by rising expenditure on household appliances by people. Nowadays, design- and tech-savvy customers are preferring sophisticated and modern designs that involve minimal space requirements and provide an attractive look to their kitchen. Modular designs also offer features and functionality to customers and ease their day-to-day lives. The changes in consumer preferences have motivated vendors to provide value additions to their kitchen appliance portfolios. The demand for built-in kitchen appliances such as refrigerators, wall ovens, cooking ranges, and cooktops has grown over the last few years. Moreover, there are several third-party vendors in the global market, which provide modular kitchen designing and other services to renovate regular kitchens and turn them into modular kitchens. Therefore, the adoption of modular kitchens is expected to drive the growth of the market in focus during the forecast period.
Key Kitchen Appliances Market Challenge
The fluctuations in raw material prices and operational costs are the major challenge to the global kitchen appliances market growth. The market price of household appliances, such as kitchen appliances, depends on manufacturing costs, labor costs, the prices of raw materials, transportation costs, and marketing costs. Fluctuations in the prices of raw materials directly impact the price of products or the profit margins of manufacturers. The manufacturing of kitchen appliances, such as roti makers, includes the procurement and use of several raw materials, such as steel, iron, plastic, glass, electronic components, and paints. The prices of these materials are subject to change and fluctuate with international prices. In addition, metallic raw goods and components used for manufacturing the finished product are expensive. The procurement of such raw materials includes add-on costs such as transportation and other necessary services, the constraints faced by suppliers, and the inability to maintain favorable arrangements with suppliers for the adequate and timely delivery of raw materials. Such concerns are expected to adversely affect the growth of the global kitchen appliances market during the forecast period.
This kitchen appliances market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global kitchen appliances market as a part of the global household appliances market within the global household durables industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the kitchen appliances market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the kitchen appliances market encompasses successful business strategies deployed by the key vendors. The kitchen appliances market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position, and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.
Our In-house experts produce extensive information on the value chain and parent market of the kitchen appliances market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.
The value chain of the global household appliances market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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44% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for the kitchen appliances market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growing demand for premium, innovative smart kitchen appliances will facilitate the kitchen appliances market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic negatively impacted the growth of the kitchen appliances market in APAC. To contain the spread of COVID-19, governments of various countries, including India, China, and Japan, were forced to impose lockdowns, pushing commercial end-user facilities such as hotels and restaurants, canteens, and railway and defense facilities to temporarily close their units in accordance with government guidelines in the first two quarters of 2020. Therefore, the adoption of such policies negatively impacted the growth of the regional kitchen appliances market in 2020. However, lockdown restrictions were lifted in 2021 as a result of extensive vaccination drives conducted across the region. This resulted in the resumption of operations in restaurants, canteens, hostels, and other end-user facilities, which increased the demand for kitchen appliances in the region. Such factors are expected to drive the growth of the kitchen appliances market in APAC during the forecast period.
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The kitchen appliances market share growth in the residential segment will be significant during the forecast period. The growing global population, coupled with an increase in the number of nuclear households, is expected to be a major driver for the expansion of the residential segment of the global kitchen appliances market during the forecast period. Also, the growing number of nuclear households that require at least one cooktop also contributes to the growth of the global kitchen appliances market. As a result, the increased number of nuclear households will push up demand for kitchen appliances, which will fuel the market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the kitchen appliances market size and actionable market insights on the post-COVID-19 impact on each segment.
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Kitchen Appliances Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.62% |
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Market growth 2022-2026 |
$41.91 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.18 |
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Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
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Performing market contribution |
APAC at 44% |
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Key consumer countries |
US, China, India, Germany, and France |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
AB Electrolux, BSH Hausgerate GmbH, Dacor Inc., Fisher & Paykel Appliances Inc., General Electric Co, Glen Dimplex Europe Holdings Ltd., Groupe SEB, Haier Smart Home Co. Ltd., Havells India Ltd., KitchenAid Corp USA, Koninklijke Philips NV, Kutchina Home Makers Pvt. Ltd., LG Electronics Inc., MIDEA Group Co. Ltd., Miele & Cie. KG, Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Smeg SpA, and Whirlpool Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Market Segmentation by Distribution Channel
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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