Kitchen Appliances Market Size to Grow by USD 41.91 Bn, Growing Demand for Premium and Innovative Smart Kitchen Appliances to Boost Market Growth

NEW YORK, Nov. 7, 2022 /PRNewswire/ — The “Kitchen Appliances Market by Application, Distribution channel and Geography – Forecast and Analysis 2022-2026″ report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.

The potential growth difference for the kitchen appliances market size between 2021 and 2026 is USD 41.91 billion. To get the exact yearly growth variance and the Y-O-Y growth rate, Request a FREE PDF Sample Report

Key Market Dynamics

• Market Driver: The growing demand for premium and innovative smart kitchen appliances is driving the market growth. Growing innovation and technological advances have led to a change in consumer preferences, thus propelling the demand for innovative products. Customers prefer eco-friendly appliances that have a user-friendly interface and can perform tasks with minimum energy. This has compelled vendors to focus on R&D and innovation. The market has witnessed product innovations in terms of features, technology, performance, and design. Customers are increasingly spending on premium kitchen appliances, which has encouraged vendors to invest in innovative raw materials and technologies. They are focusing on pricing strategies to increase their profit margins. These factors will propel the growth of the market during the forecast period.

• Market Challenge: Fluctuations in raw material prices and operational costs are expected to challenge the global kitchen appliances market growth. The price of household appliances, such as kitchen appliances, depends on labor costs, manufacturing costs, transportation costs, raw materials costs, and marketing costs. Fluctuations in the prices of raw materials impact the price of products. Such factors are expected to limit the growth of the global kitchen appliances market during the forecast period.

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Vendor Landscape

The kitchen appliances market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. Vendors are investing in building infrastructure that is suitable for manufacturing and testing smart kitchen appliances. They are focusing on technology for innovating products as well as on brand building and brand equity. Vendors differentiate themselves based on regulatory compliance, quality, and innovation. The regulatory compliance differentiation among vendors is high. The market has witnessed high competition, coupled with the availability of local and counterfeit products and high regulatory control. The price differentiation among vendors is medium, as the price of products varies based on product features.

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This report provides a full list of key vendors, their strategies, and latest developments. Buy Now for detailed vendor information

Market Segmentation

The kitchen appliances market report is segmented by application (residential and commercial), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and Middle East and Africa). APAC will be the leading region with 44% of the market’s growth during the forecast period. China and India are the key countries for kitchen appliances in APAC.

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Some Companies Mentioned

• AB Electrolux

• BSH Hausgerate GmbH

• Dacor Inc.

• Fisher and Paykel Appliances Inc.

• General Electric Co

• Glen Dimplex Europe Holdings Ltd.

• Groupe SEB

• Haier Smart Home Co. Ltd.

• Havells India Ltd.

• KitchenAid Corp USA

• Koninklijke Philips NV

• Kutchina Home Makers Pvt. Ltd.

• LG Electronics Inc.

• MIDEA Group Co. Ltd.

• Miele and Cie. KG

• Panasonic Holdings Corp.

• Robert Bosch GmbH

• Samsung Electronics Co. Ltd.

• Smeg Spa

• Whirlpool Corp.

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Key Topics Covered

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Application

6 Market Segmentation by Distribution Channel

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Vendor Landscape

11 Vendor Analysis

12 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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