As part of the final report, an analysis will be included to examine the effects of the Russia-Ukraine War and COVID-19 on the Kitchen Appliances industry.
New Industry Report on Global Kitchen Appliances Market Status and Prospects [2023-2032] has been released. The report is 120 pages long and provides an overview of the business with key types and applications along with the industrial chain structure. It includes information about the global market, such as development trends, competitive landscape analysis, key regions, and their development status. The report also examines advanced approaches and plans, as well as manufacturing processes and cost structures. It analyzes import/export utilities, market figures, cost, price, revenue, and gross productivity of the market. If you are interested in the report, Please Request a Free Sample Copy
The global kitchen appliances market is forcasted to expand at a CAGR of 6.5% from 2018 to 2023, leading to a global revenue of USD 232.74 Bn by 2023.
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Kitchen appliances are tools that allow smooth functioning of the kitchen activity, along with the added benefit of convenience. These appliances are mainly used for cooking, storage and cleaning activities in the kitchen.
Depending on product types, the global kitchen appliance market can be further segmented into refrigerators, dishwasher, cooking appliances, and others kitchen appliances. Other kitchen appliances include blenders, food processors, coffee makers, and are usually designed for countertops. The refrigerator market is expected to hold the highest share, capturing a significant portion of the market.
The main operation of these appliances are carried out by cooking gas and electricity, but other fuel types include solar energy, renewable energy, fuelwood, and biogas. Cooking gas accounts for the highest market share. However, the demand for electrically operated appliances is forecasted to expand at the highest CAGR.
In the end user segment, the households contribute a substantial share to the market. The increasing number of hotels, restaurants, and other food chains is expected to drive the commercial kitchen appliance market size in the coming years.
By region, North America holds the highest market share. Asia-Pacific is expected to show a high growth rate since China and India are anticipated to make remarkable contributions to the market.
Key growth factors
Growing disposable income, increasing health concerns, and technological advancements are the key factors in propelling the growth of kitchen appliances market.
The sudden increase in the working-class population, along with the increasing consumption of fast food, is the reason behind the growth of health concerns among customers. The community is heading towards easy and quick cooking techniques. That is why consumers prefer kitchen appliances with the latest and advanced specifications.
The appliances with advanced technology help in maintaining the rising living standards of consumers, which gives an urbane appearance to their kitchen.
The increased usage of smart kitchen gadgets which are equipped with sensors, can act as an opportunity that the market can rely on for growth.
Threats and key players
The primary factor that restricts market growth is the increased emission of CFCs from refrigerating units and high energy consumption by some appliances.
Some of the key players operating in the kitchen appliances market are Electrolux, Whirlpool, Samsung, Philips, Morphy Richard, Dacor, General Electric (GE), Life is Good (LG), Haier, and Panasonic.
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What’s covered in the report?
1. Overview of the kitchen appliances market
2. Current market demand along with future expected demand trends of kitchen appliances in the household and commercial sectors
3. Current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa) market size data for kitchen appliances market
4. Current and forecasted market size data based on type – refrigerators, dishwasher, and cooking appliances
5. Analysis of company profiles of major public and private players operating in the market
7. Key opportunities in the kitchen appliances market
8. Market trends in the global kitchen appliances market
9. Value chain analysis in order to emphasize on preventing waste, optimizing the available resources, and contributing towards sustainability
10. Market attractiveness analysis in terms of region in order to furnish the competitive advantage of one region over the others
11. Market positioning of the key players across different regions in 2017
1. Understand the demand for Kitchen appliances to determine the viability of the business
2. Determine the developed and new markets where kitchen appliances are used
3. Formulate a product market strategy based on the position in the value chain to determine the optimal product/service placement
4. Identify the gap areas and address them
5. Develop strategies based on the industry and economic factors for each of the segments
6. Define the competitive positioning by comparing the products and services with the key players in the market.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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On June 8th, 2022, the Bureau of Economic Analysis and U.S. Census Bureau released a report detailing the recovery of the U.S. market and international trade. The report highlighted the significant growth in exports and imports, with exports reaching $300 billion in April 2022, an increase of $13.4 billion, and imports amounting to $294.5 billion, increasing by $17.4 billion. Despite the impact of COVID-19 on the global economy, the U.S. market is showing signs of recovery.
However, the Healthcare/ICT/Chemical industries are still feeling the effects of the pandemic, which is creating a large market for Kitchen Appliances. As the recovery of the U.S. market continues, there will be a direct impact on these industries, and the demand for Kitchen Appliances is likely to increase. The report highlights the need for businesses to stay informed about market trends and adjust their strategies accordingly to take advantage of emerging opportunities in this evolving landscape.
Intricacies of COVID-19 Impact Analysis:
The pandemic of COVID-19 has also reduced the availability of and demand for non-COVID-19-related medical treatment. A wide range of treatments, including emergency care for acute diseases, routine check-ups, and recommended cancer screenings, are being postponed or avoided by patients. Undiagnosed illnesses and a failure to intervene early will have serious long-term health consequences. COVID-19 has accelerated a variety of existing and emerging healthcare trends, including changing consumer attitudes and habits, the convergence of life science and health care, rapid advances in digital health technologies, and new talent and care delivery models, to name a few.
In-depth Analysis of the Russia-Ukraine War Impact:
Global industries were impacted by the Russia-Ukraine War, which started in February 2022. There have been widespread announcements of strict travel restrictions over Ukrainian airspace. The market in 2022 has been damaged by the Russia-Ukraine War.
The conflict between Russia and Ukraine raises defense spending and fortifies NATO nations’ armed forces. Due to Russia’s invasion, the majority of European nations have raised their defense budget. Germany earmarked USD 109 billion, which is more than the whole cost of the military in 2021, increasing its defense spending above 2% of GDP.
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Some Questions Answered in the Kitchen Appliances Market Report:
- What is the projected size of the global Kitchen Appliances market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the global Kitchen Appliances industry?
- What are the major market trends that are affecting the expansion of the Kitchen Appliances market?
- What obstacles must be overcome in order to achieve sustained growth in the Kitchen Appliances market?
- What opportunities and threats do vendors in the global Kitchen Appliances market face?
- What are the raw materials and manufacturing equipment used in the production of Kitchen Appliances, and what is the manufacturing process?
- What are the different types and applications of Kitchen Appliances, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the Kitchen Appliances market?
- What factors are driving the growth of the Kitchen Appliances market in the top regions worldwide?
- Who are the major players in the global Kitchen Appliances market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the Kitchen Appliances market?
- What are the main findings of a five forces analysis of the global Kitchen Appliances market?
To gain a better understanding of market conditions, a Five Forces analysis is conducted, which includes an assessment of the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
Additionally, a PESTLE analysis is performed to evaluate the external factors that may impact the market:
- Political factors: This includes political policies and stability, as well as trade, fiscal, and taxation policies.
- Economic factors: Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates are all considered under this category.
- Social factors: Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles are taken into account when analyzing the social factors that may affect the market.
- Technological factors: Changes in digital or mobile technology, automation, research, and development are evaluated to determine the potential impact on the market.
- Legal factors: Employment legislation, consumer law, health and safety regulations, and international trade restrictions are among the legal factors that may affect the market.
- Environmental factors: Climate, recycling procedures, carbon footprint, waste disposal, and sustainability are all taken into consideration when assessing the potential impact of environmental factors on the market.
Our Kitchen Appliances Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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