Kitchen Appliances Market by Type (Refrigerator, Cooking appliances, Dishwasher), by user application (User application, Commercial, Household), by fuel type (Fuel type, Electricity, Cooking gas), by product structure (Built-in, Free stand), Industry Trends, Estimation & Forecast, 2016 - 2024

September 2017

 Pages: 130

 ERC 7925

Kitchen Appliances Market was valued at $181 billion in 2016 and is projected to reach $297.1 billion by 2024, having a CAGR of 6.5% during the forecast period of 2017 to 2024.In 2016, the refrigerator segment generated the highest revenue share in the global kitchen appliance market.

The machines or apparatus which are used to prepare food in an effectual and convenient manner are called as Kitchen appliances. Some of the major domestic kitchen appliances are blenders, microwave ovens, fridges, countertop stoves, dishwashers, food processors, ice cream makers, espresso machines, electric mixers, grills, coffee makers, electric toasters, waffle makers and gas stoves. In the current situation, modern kitchen appliances provide an improved control on complex and time-consuming kitchen related tasks. Moreover, the increased requirement from homemakers for making delicious food without extra efforts is constantly driving the market. Emergence of innovative products such as combination convection ovens, induction hobs with preset cooking zones and refrigerators with advanced refrigeration technology are expected to boost the global domestic kitchen appliances market.

Market Dynamics

Continually growing disposable income, increasing health concerns and technological progressions are some major factors which are pushing the kitchen appliance market growth. Moreover, a surge in the number of working class population coupled with increasing consumption of fast food have led to the growth of health concerns among customers. In addition to this, for easy and fast cooking, consumers are opting for kitchen appliances with latest and advanced specifications. Moreover, appliances with advanced technology supplements the rising living standards of consumers, thus offering an urbane appearance to their kitchen environment. However, major concerns related to high energy consumption and emission of CFCs from refrigerating units can restrain the market growth. While, on the other hand, increasing adoption of smart kitchen appliances equipped with sensors can act as a future opportunity to the market growth, especially in the developed regions.

Market Segmentation

The segmentation of the global kitchen appliances market is done on the basis of type, user application, fuel type, product structure and geography. By type, the market is segmented into refrigerator, cooking appliances, dishwasher, and others. By user application, the market is categorized as commercial and household. By fuel type, the market is segmented as electricity, cooling gas and others. Geographically, the market is bifurcated as North America, Europe, Asia-Pacific and Rest of World. Refrigerators held the largest market share of nearly 43% of the overall kitchen appliances market in 2016. This is because of the ability of refrigerators to preserve the freshness of the stored food and prevent them from decaying and hence, they have become an integral part of the household.

North America kitchen Appliances Market By Type, 2016

On the basis of geography, Asia-Pacific region is expected to grow at the highest CAGR of 7% during the forecast period owing to rising industrialization and disposable income in the region. Moreover, the commercial usage is also increasing, primarily, due to the increasing trend in food services establishment and changing food consumption patterns of the consumers.

Some major market players are Philips N.V., Panasonic, Whirlpool Corp, Electrolux, Bosch, Bosch, Life is Good (LG), Samsung, Morphy Richards, and Dacor, Inc. Product launch and technological enhancement has emerged out as the key marketing strategy adopted among the key market players. Philips N.V has recently come up with multiple innovative product offerings in a bid to fortify its portfolio of kitchen appliances. The latest products from the Philips home appliances family includes Philips Smoke-less Indoor Grill and Philips Micro Juicer.

Kitchen Appliances Market Segmentation

By Type
   • Refrigerator
   • Cooking appliances
   • Dishwasher
   • Others

By User Application
   • User application
   • Commercial
   • Household

By Fuel Type
   • Fuel type
   • Electricity
   • Cooking gas
   • Others

By Product Structure
   • Built-in
   • Free stand

By Geography
   • North America
   • Europe
   • APAC
   • ROW

Kitchen Appliances Market Key Players

   • Philips N.V.
   • Panasonic
   • Whirlpool Corp
   • Electrolux
   • Robert Bosch GmbH
   • Life is Good (LG) Electronics
   • Samsung Group
   • Morphy Richards
   • Dacor, Inc.

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