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Modular Kitchen Market Report 2023-2032: Market Size, Share Analysis And Industry Trends | Nobilia GB Ltd., Hafele GmbH & Co KG, Hettich Group, IFB Industries, Häcker Küchen GmbH & Co. KG
Modular Kitchen Market
The Business Research Company's Modular Kitchen Global Market Report 2023 identifies rapid growth in the residential construction industry as the major driver for the Modular Kitchen market's growth in the forecast period. The growing number of real estate projects and the increase in demand for space-saving homes are helping the modular kitchen market grow. For instance, the US construction industry is estimated to grow by 8.7% between 2020-2025.
The global modular kitchen market size grew from $22.17 billion in 2022 to $23.04 billion in 2023 at a compound annual growth rate (CAGR) of 3.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The modular kitchen market size is expected to grow to $27.34 billion in 2027 at a CAGR of 4.4%.
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Major competitors in the Modular Kitchen market are Nobilia GB Ltd., Hafele GmbH & Co KG, Hettich Group, IFB Industries, Häcker Küchen GmbH & Co. KG.
A key trend in the Modular Kitchen market includes technological advancement. For instance, in May 2021, RTA Outdoor Living introduced a new modular outdoor kitchen system (MOKS) that allows customers to choose designs and place ready assembled outdoor kitchen. The other concepts that are being incorporated are the introduction of technology and automation for the worktop, chimney, and other key areas such as eco-friendliness (anti-bacterial kitchens) as a key focus area of the modular kitchen.
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The Modular Kitchen market is segmented -
1. By Design: L-Shape, U-Shape, Parallel, Straight, Island
2. By Product: Floor Cabinet, Wall Cabinet, Tall Storage
3. By Raw Material: Lacquered Wood, Wood Sheets and Melamine, Metals, High-Pressure Laminates, Other Raw Materials (Glass, Acrylic)
4. By Distribution Channel: Offline (Contractors, Builders), Online
5. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the Modular Kitchen market.
The Business Research Company's "Global Modular Kitchen Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Modular Kitchen Market Include:
1. Executive Summary
2. Modular Kitchen Market Characteristics
3. Modular Kitchen Market Trends And Strategies
4. Modular Kitchen Market - Macro Economic Scenario
5. Modular Kitchen Market Size And Growth
……
26. Africa Modular Kitchen Market
27. Modular Kitchen Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Modular Kitchen Market
29. Modular Kitchen Market Future Outlook and Potential Analysis
30. Appendix
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