San
Francisco, 03 April , 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.
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Research Report On Kitchen Appliances Market Analysis:
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.
Browse More Reports Of This
Category By Grand View Research At: https://www.grandviewresearch.com/industry/electronic-devices
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
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Press Release of this Report: https://www.grandviewresearch.com/press-release/global-kitchen-appliances-market
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.
For more
information: www.grandviewresearch.com/
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