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Modular Kitchen Market, by Product Type (Wall Cabinet, Floor Cabinet, and Tall Storage), by Design (L-shape, U-shape, Parallel, Straight, and Island), by Raw Material (Wood, Metal, and Others (Plastic and Others))

03-30-2020 12:20 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: coherenet market insights

MODULAR KITCHEN

MODULAR KITCHEN

Modular kitchen is a modern kitchen layout, which consists of tall units with cabinets to organize the accessories in the kitchen. The modular kitchen is manufactured by using various materials such as wood and plastic, among others. The modern look and convenience involved in case of modular kitchen is expected to drive growth of the market over the forecast period.

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Market Dynamics:

The efficient storage in case of modular kitchen, which include shelves, cabinets, and drawers is a major driver that is expected to boost growth of the global modular kitchen market.

Moreover, increasing disposable income and increasing construction activities worldwide are other factors that are expected to aid the global modular kitchen market growth. For instance, according to data released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development in June 2019, in the U.S., the number of newly completed residential buildings was around 900 thousand unit in May 2014, which increased to 1,200 thousand unit in May 2019.

Furthermore, according to the U.S. Department of Housing and Urban Development, in May 2019, the total number of new residential housing completions in the U.S. was 1,213,000 and 1,294,000 building permits were sanctioned. Such increasing construction activities are expected to boost demand for modular kitchen market, globally.

However, factors such as high price of modular kitchen layout and volatility of its transportation cost are expected to hamper growth of the global modular kitchen market over the forecast period.
Market Outlook:

Among distribution channel, offline segment is expected to dominate the market over the forecast period, owing to wide variety of modular kitchen layout options available at one place which is a major factor that attracts customers. However, online segment is expected to account for a significant share during the forecast period, owing to the growing e-commerce industry and rapid internet penetration. For instance, according to the World Bank data, in 2014, the total number of broadband users worldwide was recorded to be 10.21 people per 100 people, which increased and reached 13.76 people per 100 people in 2017.

Among raw material, plastic sub-segment is expected to account for significant market share, owing to increasing use of PVC (Poly-vinyl Chloride) sheets. Furthermore, PVC sheets are waterproof, strong, termite, and oil proof, which is expected to be a major factor for increasing demand for plastic-based modular kitchen over the forecast period.

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Key players:

Key players operating in the global modular kitchen market include H?fele, Hackers Kitchens GmbH & Co. KG, Nobia AB, LINEADECOR, Snaidero Rino Spa Bulthaup GmbH & Co KG, Boston Cabinets, Inc., Pedini, and SieMatic M?belwerke GmbH & Co. KG.

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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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