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Rapid advancements and innovation in kitchen appliances technologies and rising health concerns due to COVID- 19 pandemic are key factors driving market
VANCOUVER, BRITISH COLUMBIA, CANADA, September 19, 2022 /EINPresswire.com/ -- The global kitchen appliances market size was USD 171.68 Billion in 2021 and is expected to register a revenue CAGR of 3.3% during the forecast period, according to the latest analysis by Emergen Research. Kitchen appliances are tools and technologies that make kitchen operations more effective. They are typically used in the kitchen for cooking, storing food, and cleaning. They are powered by either gas or electricity. Kitchen appliances, which include items like ovens, refrigerators, stoves, blenders, and dishwashers that enable the user to cook more efficiently and save time, money, and energy, come in a vast variety of colours, materials, styles, sizes, and mechanisms. Technological advancements in kitchen appliances and launch of innovative products are factors projected to support market revenue growth between 2022 and 2030. For example, presently dishwashers are manufactured with more innovative designs, operate more quietly, use less electricity, and clean more thoroughly.
The US Department of Energy (DoE) claims that modern dishwashers conserve water and energy by using less water to wash a load of dishes than hand washing. Additionally, for even more thorough cleaning, these machines may produce water at much higher temperatures than one can safely expose to their skin. Dishwashers are now more well-known to customers as a result of pandemic.
For instance, Godrej & Boyce launched Godrej Eon Magnus Counter-Top Dishwasher to manage dishwashing requirements of smaller families. Godrej Eon Magnus Counter-Top Dishwasher is a small model with 8 place settings that can easily wash all typical dishes for two to three-person homes.
However, high cost of smart kitchen appliances and outdated and insecure technology that makes it simpler for hackers to gain access to the connected system are factors expected to hamper market revenue growth.
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A significant growth driver for the market is the increased popularity of reality competition programmes like Top Chef, MasterChef, Hell's Kitchen, Iron Chef, and Chopped, which have revitalised the cooking industry. Additionally, cooking has grown in popularity as a profession, which is predicted to increase demand for kitchen appliances. Manufacturers of kitchen appliances are always coming up with new ideas and integrating IoT. Businesses are putting a lot of effort into promoting sustainability and lowering energy use.
Our experienced market research team has provided updated information on the ongoing COVID-19 pandemic and its adverse economic impact in the latter segment of the report. The coronavirus outbreak has led to drastic changes in the current kitchen appliances business landscape, limiting the growth opportunities for various manufacturers and buyers for the next few years. Besides making speculations about the market’s post-COVID-19 scenario, the report discusses its existing situation. The report eventually offers conclusive data related to the kitchen appliances market growth assessed on both regional and global levels.
Some Key Highlights From the Report:
The dishwasher segment is expected to register rapid revenue CAGR due to rapid urbanization, rising new infrastructural projects such as smart cities, and rising demand for in-built kitchen appliances. It saves water and time in cleaning utensils and is driving revenue growth in this segment.
The offline stores segment accounted for largest revenue share in 2021. Customers prefer to buy electrical devices and cookware appliances from retail stores because they can better comprehend product features from salespeople at these establishments. Additionally, these stores offer loyalty points, deals & discounts on a variety of products.
The North America market accounted for largest revenue share in 2021. This is attributed to rapid advancements in smart kitchen appliances technologies and rising demand for modular kitchens.
Some major companies in the global market report include AB Electrolux, Whirlpool Corporation, LG Electronics, Samsung Electronics, Dacor, Morphy Richards, Koninklijke Philips N.V., Panasonic Corporation, Robert Bosch GmbH, Haier Group, and General Electric.
Leading Players Profiled in the Report:
AB Electrolux, Whirlpool Corporation, LG Electronics, Samsung Electronics, Dacor, Morphy Richards, Koninklijke Philips N.V., Panasonic Corporation, Robert Bosch GmbH, Haier Group, and General Electric.
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Emergen Research has segmented the global kitchen appliances market based on product type, fuel type, distribution channel, application, and region:
Product Type Outlook (Revenue, USD Billion; 2019–2030)
Fuel Type Outlook (Revenue, USD Billion; 2019–2030)
Distribution Channel Outlook (Revenue, USD Billion; 2019–2030)
Application Outlook (Revenue, USD Billion; 2019–2030)
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key questions addressed in the report:
What are the key factors driving the global kitchen appliances market?
Who are the key manufacturers in this market space?
Who are the distributors, traders and dealers of this market?
What are the market opportunities and risks affecting the performance of the vendors in the global kitchen appliances market?
What are the sales and revenue estimations for the top manufacturers in this market over the projected timeline?
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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