According to a report, “Kitchen Appliances Market Analysis By Product (Refrigerator, Cooking Appliances, Dishwasher), By Application (Commercial, Residential) And Segment Forecasts To 2022” published by Grand View Research, Inc., the global kitchen appliances market is estimated to worth USD 246.3 billion by 2022. Research and development or innovation by industry participants is anticipated to boost industry growth over the forecast period.
Energy efficiency, cost, technology advancement, quality of the products affect the consumers’ buying decision. The emergence of the e-commerce industry and investment in distribution channels has not only boosted industry participants’ revenue but also has expanded their reach. Growing demand for product up-gradation is anticipated to drive industry growth over the next seven years.
Governments worldwide are focusing on curbing energy consumption through new regulation and consumer awareness campaign, which is anticipated to drive demand for energy-efficient technology products.
Kitchen Appliances Market Report Highlights
On the basis of product, smart cooking equipment demand is expected to grow over the forecast period owing to a rise in labor cost and increasing the working-class population.
On the basis of application, commercial refrigerators are commonly used at convenience stores, grocery stores, restaurants, cafeterias, supermarkets, and other food stores. An increasing number of fast-food restaurants is expected to favor commercial segment growth over the forecast period.
North America kitchen appliances market is estimated to be a key regional segment over the forecast period owing to improving the macro-economic condition and increasing disposable income.
The Asia Pacific region is expected to witness significant growth over the forecast period owing to the rising residential projects along with the growing trend of nuclear families in the region.
The European region is estimated to witness substantial growth over the forecast period owing to the increasing use of green products.
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Kitchen Appliances Market Segmentation
Grand View Research has segmented the kitchen appliances market on the basis of product, application, and region:
Kitchen Appliances Product Outlook (Revenue, USD Billion, 2012 – 2022)
Kitchen Appliances Application Outlook (Revenue, USD Billion, 2012 – 2022)
Kitchen Appliances Regional Outlook (Revenue, USD Billion, 2012 – 2022)
Key Players in the Kitchen Appliances Market
Haier Group Corporation
Morphy Richards Limited
Robert Bosch GmbH
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Commercial Kitchen Appliances Market – https://www.grandviewresearch.com/industry-analysis/commercial-kitchen-equipment-appliances-market
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Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
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