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Kitchen Appliances Market 2018 Latest Trends with Top Manufactures- Dacor Inc., Electrolux, Haier, LG Electronics, Morphy Richards, Panasonic Corporation, Philips, Robert Bosch, Samsung Electronics, Whirlpool Corporation
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The dishwasher market share accounted 15% of the kitchen appliances market revenue. There is a rise in nuclear families and the lifestyle of people has been changing over the years, fuelling the overall industry growth. Refrigerators contributed 40% to the overall kitchen appliances market. This is owing to the need of conservation of edible items in different temperatures. Technology developments to lessen the energy consumption, and its effect on the environment, along with smart operating features will constantly drive the industry growth. The cooking appliances market is also growing due to the increased convenience provided by this platform.
By product
• Refrigerator
• Cooking Appliances
• Dishwasher
By application
• Commercial
• Residential
Commercial kitchen appliances market was valued at USD 65 billion in the year 2015. The increasing demand in the hospitality sectors such as hotels, food line businesses are the reason behind the expected growth.
Increased user-friendly portfolio of appliances such as advanced pressure cookers, toasters, blenders, mixers, microwaves, and portable coffee makers will strengthen the cooking appliances market demand from 2016 to 2023.
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Europe kitchen appliances market share will grow at 4.5% CAGR from 2016 to 2023. Increased consumer awareness towards energy efficient products along with government mandates towards reducing energy consumption has resulted in phasing out of old products.
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The regulatory bodies around the globe have set certain electricity standards which are to be strictly followed by the manufacturers. These regulations are majorly regarding the environmental concerns and are set keeping in mind the environmental hazards caused by the devices.
Key players in the Kitchen Appliances Market include Dacor Inc., Electrolux, Haier, LG Electronics, Morphy Richards, Panasonic Corporation, Philips, Robert Bosch, Samsung Electronics, Whirlpool Corporation.
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