Kitchen Appliances Market is Expected to Grow High CAGR of 6.4% by 2020
With respect to user application, the household segment accounted for the larger market share. The market has also been analysed from the perspective of fuel type. The gas appliances accounted for a major part of the kitchen appliances market, followed by electric appliances. The demand for electric appliances market is forecast to grow at a relatively higher rate compared to the gas operated appliances.
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The market is further segmented in to the structure type, which includes built- in and free stand appliances. Due to the rise in living standards and increase in disposable incomes, the customers are increasingly opting for modular kitchen setup. However, the adoption is less due to the high cost of these appliances.
Geographically, North America is a major contributor in the kitchen appliances market. The developing economies such as China and India would largely contribute to the growth of the market.
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Key findings of the study:
o The Global kitchen appliances market is growing at a steady pace due to increasing disposable incomes, the growing food and services industry and the increasing health concerns, during the forecast period (2014 - 2020)
o Refrigerator market is the major contributor in kitchen appliances market, whereas cooking appliances, is the second leading market segment
o North America enjoys the biggest share in the global kitchen appliances market. However, Asia-Pacific would prove to be one of the most profitable markets, in terms of growth
Companies like Electrolux, Whirlpool, are coming up with new and innovative appliances that consume less energy and retain the nutrients during food preparation. Companies are adopting product launches, acquisition/ partnership as strategies, in order to expand their reach and gain a bigger market share. The prominent companies profiled in the report include Electrolux, Whirlpool, LG, Dacor, Samsung, Morphy Richard.
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Similar Report: Cooking Appliances Market: https://www.alliedmarketresearch.com/cooking-appliances-market
Microwave Oven Market: https://www.alliedmarketresearch.com/microwave-oven-market
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