Kitchen Appliances Market at a CAGR of 6.0% from 2021 to 2027

The Market Statsville Group (MSG) publishes the new report on the "Kitchen Appliances Market by Product Type (Refrigerator, Cooking Appliances, Dishwasher, and Others), by Fuel Type (Electric, Cooking Gas and Other), by Distribution Channel (Online and Offline), by User Application (Commercial and Household), by Product Structure (Built-in and Free Stand), and by Region - Global Trends, Market Share, and Forecast to 2027". The global kitchen appliances market was valued at USD 250.60 million in 2020 to USD 377.70 million by 2027, at a CAGR of 6.0% from 2021 to 2027.

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Demand for smart kitchen appliances has increased in the past few years. Technological advancements have generated the need to upgrade kitchen appliances, enabling smooth and reliable productivity while cooking. High-energy consumption acts as a major restraining factor for the growth of the global kitchen appliances market. Most kitchen appliances use electricity as their power source and incur huge electricity consumption. Smart kitchen appliances can operate intelligently with the help of technology. Such appliances are equipped with internet and connectivity features, enabling the owner to use the appliances from remote locations.

Global Kitchen Appliances Market Segmentation
The kitchen appliances market has been segmented into the product type, fuel type, distribution channel, user application, product structure, and regions.

By Product Type (Refrigerator, Cooking Appliances, Dishwasher, and Others)
By Fuel Type (Electric, Cooking gas and Other)
By Distribution Channel (Online and Offline)
By User Application (Commercial and Household)
By Product Structure (Built-in and Free Stand)
By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
Household, by the user application, is estimated to hold the largest market share during the forecast period

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On the basis of the user application, the kitchen appliances market is categorized into commercial and household. Among these, the household segment accounts for a higher market value share of 57.9% in 2020 due to the higher level of penetration witnessed in the sector. Kitchen appliances play a vital role in smooth and efficient cooking for the household end-users. These appliances have become a necessity in every household, as they facilitate convenient and easy cooking. Further, the increase in the working population paired with the nuclear family trend continues to drive the demand for kitchen appliances among these users.

There is an increase in the demand for kitchen appliances among household end-users due to lifestyle changes and increased disposable income. Demand for household kitchen appliances is growing, especially in developing countries, owing to the rise in disposable income paired with the influence of western culture among the end-users. An increase in electricity charges results in increased demand for energy-efficient kitchen appliances for household user applications. Recovering the real estate industry in the American and European countries further boosted the demand for advanced kitchen appliances.

North America accounts for the largest market share during the forecast period in the kitchen appliances market

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By region, the kitchen appliances market is studied across North America, Europe, Asia-Pacific, and LAMEA. In 2020, North America was accounted for the highest market share of 31.30% in the global kitchen appliances market and was anticipated to maintain its dominance throughout the forecast period, followed by Europe and the Asia Pacific. North America exhibits the highest adoption rate for all category kitchen appliances. The average living space of households in North America is more compared to other regions.

The adoption of smart kitchen appliances is growing continuously as there is a huge rise in the trend of modular kitchens among consumers. The working-class population desires specific kitchen appliances to prepare the food in less time, making life simpler and convenient-companies operating in the market offer several kitchen appliances to cater to the need of customers. Electrolux 30' electric cooktop offers a touch panel to adjust the temperature of the cooktop. Electrolux 30 is equipped with 15 digital pre-set touch settings. In addition, the cooktop has a glide-2-set control panel to adjust the temperature for proper cooking. Consumers wish to own kitchen appliances, which are technology-driven and easy to operate. An increase in the working-class population fosters the demand for efficient kitchen appliances. This is providing ample growth opportunities for the companies to launch innovative kitchen appliances in North America.

Major companies operating in the global kitchen appliances market are Electrolux, Whirlpool, Samsung, Philips, Morphy Richard, Dacor, General Electric (GE), Life is Good (LG), Haier Panasonic, and others.

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