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Kitchen Appliances Market: Top Trends to Look for in 2020-2023

Author : Ronak Bora | Published Date : 2020-09-11 

The kitchen appliances market share worth USD 179 billion in 2015, is forecast to surpass a revenue of USD 250 billion by 2023.The technology has embarked its prominent presence in this market. The manufacturers dealing with the kitchen appliances business space are investing heavily in blending technology with these appliances. Not only the big-ticket products such as refrigerators, but also the smaller devices are being worked on to stay in parallel with the hi-tech advancements and the rising demand for convenient and smart products from the consumers.

The concept of ‘smart’ world is being realized at all levels, right from the giant industries to our very own houses. Kitchen, which is the most important part of a home, has also been significantly influenced by the revolutionary trend of the internet of things. This can be well justified by the growing market of kitchen appliances, which is already a billion-dollar industry and is all set to achieve new heights over the coming years.

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The race to win this technology embarked era has already been well started by some of the key manufacturers in this industry. For instance, a recent announcement by LG regarding its HomeChat Service gained a lot of traction by the media worldwide. This concept is based on linking the indispensable kitchen appliances market such as refrigerators and ovens to the smartphones, wherein the latter can be used by the users to send messages to these appliances.

The rising fuel prices is also building high growth opportunities for the kitchen appliances market, owing to the growing demand for induction devices. Both the residential and the commercial sectors contribute significantly towards this market growth. The increasing number of restaurants globally is boosting the commercial applications of the kitchen devices market, which is estimated to witness a CAGR of 4.6% over 2016-2023.

Also, the rising demand for automation and replacement of old devices will drive the residential application market share. The kitchen appliances market application in residential sector is forecast to surpass USD 150 billion by 2023.

Top Key Players In Kitchen Appliances Market are Dacor Inc., Electrolux, Haier, LG Electronics, Morphy Richards, Panasonic Corporation, Philips, Robert Bosch, Samsung Electronics, Whirlpool Corporation,

The rising concerns pertaining to the environment and optimum energy utilization has boosted the demand for gas appliances, which holds a major share in the kitchen appliances market. Refrigerators, which are the most common yet vital part of the kitchen also contribute towards a noticeable share of this market. The global refrigerator market is forecast to surpass a revenue of USD 105 billion by 2023.

The improvement in the economy is also boosting the global kitchen appliances market. The Asia Pacific market is estimated to cross USD 75 billion by 2023, owing to the rise in disposable income and growing population base across this region. India & China are likely to lead the APAC market.

Table Of Content:

Chapter 3    Kitchen Appliances Industry Insights

3.1    Industry segmentation

3.2    Industry Size and forecast, 2012 - 2023

3.3    Industry ecosystem analysis

3.4    Industry Impact forces

3.4.1    Growth drivers

    3.4.1.1  Product innovation

    3.4.1.2  Growing demand for induction technology

    3.4.1.3  Changing consumer preferences

3.4.2    Industry pitfalls & challenges

    3.4.2.1 High cost

    3.4.2.2 Growing ready-to-eat food industry

3.5    Growth potential analysis

3.6    Porter’s analysis

3.7    Competitor landscape, 2015

3.8    PESTEL analysis

Chapter 4    Kitchen Appliances Application Insights

4.1    Kitchen appliances market share by application, 2015 & 2023

4.2    Residential

4.2.1    Market estimates and forecast, 2012 - 2023

4.2.2    Market estimates and forecast by region, 2012 - 2023

4.3    Commercial

4.3.1    Market estimates and forecast, 2012 - 2023

4.3.2    Market estimates and forecast by region, 2012 - 2023

Chapter 5    Kitchen Appliances Product Insights

5.1    Kitchen appliances market share by product, 2015 & 2023

5.2    Cooking appliances

5.2.1    Market estimates and forecast, 2012 - 2023

5.2.2    Market estimates and forecast by region, 2012 - 2023

5.3    Refrigerators

5.3.1    Market estimates and forecast, 2012 - 2023

5.3.2    Market estimates and forecast by region, 2012 - 2023

5.4    Dishwashers

5.4.1    Market estimates and forecast, 2012 - 2023

5.4.2    Market estimates and forecast by region, 2012 - 2023

5.5    Others

5.5.1    Market estimates and forecast, 2012 - 2023

5.5.2    Market estimates and forecast by region, 2012 - 2023

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/kitchen-appliances-market-report

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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