The Global Kitchen Appliances Market size was estimated to be US$ 250 billion in 2019 and the expected CAGR during 2020 and 2030 is 3.5%. Increased consumer spending, product innovation to achieve high energy efficiency and connectivity, and rapid urbanization has fueled the growth of kitchen appliances market during past decade.
The kitchen appliances have evolved form simple cooking devices to sophisticated processing, storage, and cooking instruments. Growth in disposable income has fueled the adoption of sophisticated equipment across globe. Emergence of ecommerce and cloud kitchen had played a vital role in intensifying the competition in the global kitchen appliances market. The manufactures are focusing on expanding their distribution network to benefit from increased online purchase of kitchen appliances. Majority of the kitchen appliances work on electric energy to ease the process of cooking and storage.
The manufacturers of kitchen appliances are focusing on development of energy efficient and innovative products to gain a competitive advantage in an evolving market. Proliferation of cloud kitchens and expansion of commercial food outlets are anticipated to drive the growth of the global kitchen appliances market. Increased investment in development of Smart Home compatible appliances is expected to contribute towards the growth of the global kitchen appliances market. However, the market is anticipated to be impacted due to prevalence of COVID-19 across the major manufacturing countries globally. The demand for high end kitchen appliances is anticipated to be steady due to decline in consumer spending and discontinued manufacturing operations. Though, the market is anticipated to evolve during forecast period, the demand is anticipated to remain steady in coming couple of years.
North America contributed the largest share to the global kitchen appliances market in 2019 and is anticipated to be a dominating region throughout the forecast period owing to rising demand from commercial and residential applications. Increased adoption of advanced products, replacement of old appliances, and growth of quick services restaurant are anticipated to contribute towards the growth of North America kitchen appliances market during forecast period.
Asia Pacific contributed a prominent share to the global kitchen appliances market in 2019 and is expected to be the fastest growing segment during the forecast period owing to expanding real estate industry, electronic manufacturing industry and increasing disposable income across major countries in Asia Pacific. Shifting preference towards ready cooked food and expansion of kitchen appliance manufacturing across the region is anticipated to contribute towards the growth of Asia Pacific kitchen appliances market.
Kitchen Appliance Market Share Analysis, by Geography (2022)
The report titled “Kitchen Appliance Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032” wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global Kitchen Appliance market. ]
Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market. For instance, Panasonic Corporation generated a revenue of US$ 74.25 billion and business segment analysis of the company indicates that Automotive and Industrial Systems business segment of the company dominated revenue in 2019.
The global kitchen appliance market is segmented on the basis of product type, end use, sales channel, and geography. Based on product type, the global kitchen appliance market is segmented into refrigerators, cooking appliances, dishwashers, and others. The cooking appliances are further sub-segmented into cooker, oven, griller, barbecue, fryer, heater, and others. Based on end use, the global kitchen appliance market is segmented into residential and commercial. Based on sales channel, the global kitchen appliance market is segmented into online and offline. Based on geography, the global kitchen appliance market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on kitchen appliance. Further, market share of prominent companies in the global kitchen appliance market would also be estimated. For instance, Panasonic Corporation operates through four business segmented namely Appliances, Eco Solutions, Connected Solutions, and Automotive & Industrial Systems. The kitchen appliances were delivered under Appliances business segment of the company with revenue generation of US$ 23.02 billion in 2019.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the kitchen appliance manufacturing companies. The global kitchen appliance market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the kitchen appliance business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global kitchen appliance market.
Major players active in the global kitchen appliance market include Dacor Inc., Electrolux AB, Haier lnc., Koninklijke Philips N.V., LG Electronics, Morphy Richards, Panasonic Corporation, Robert Bosch GmbH, SAMSUNG, and Whirlpool Corporation.
By Product Type
By End Use
By Sales Channel
By Geography
The end-use segments in Kitchen Appliance market are Residential and Commercial
Major players operating in the global Kitchen Appliance market include Dacor Inc., Electrolux AB, Haier lnc., Koninklijke Philips N.V., LG Electronics, Morphy Richards, Panasonic Corporation, Robert Bosch GmbH, SAMSUNG, and Whirlpool Corporation..
The base year considered in Kitchen Appliance market report is 2022.
Proliferation of cloud kitchens and expansion of commercial food outlets are anticipated to drive the growth of the global kitchen appliances market.
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