Global Kitchen Appliances Products Market
Global Kitchen Appliances Market has witnessed growth despite the economic slowdown across some of the major economies after the 2009 recession. Presence of large number of alternatives is driving the segment and with improving economic scenario, the market is expected to witness robust growth over the forecast period.
The market for home appliances is, in large part driven by kitchen appliances. With several of the world’s regions in economic troubles, the category of home appliances is really being driven forward by smaller ticket sized appliances common in the kitchen. Kitchen appliances include large appliances like refrigerators, dishwashers, microwaves and ovens, gas stoves, chimneys, and smaller appliances like juicers/mixers, coffee and tea makers, toasters, air fryers, and non-cooking small items like kettles, knives, scales, graters, etc.
The global market for kitchen appliances was worth US$ xx bn as of 2014, and is expected to grow to US$ xx bn by 2020, growing at a CAGR of over the forecast period. Small appliances are expected to grow at a CAGR of from US$ bn in 2014 to US$ bn in 2020. Large appliances are worth US$ xx bn as of 2014, and are expected to grow at CAGR to US$ xx bn in 2020. US based manufacturer Electrolux’s acquisition of General Electricals reflects a potential for growth in North America, and an aggressive M&A based growth path being forged by market leaders.
The latest trend in home appliances, including kitchen appliances is that of energy efficiency, and connectivity in line with IoT (Internet of Things), wherein most appliances can be remotely controlled, or are equipped with sensors designed to auto manage the appliances. Smart appliances, as they are called, alone are expected to drive this category ahead to achieve higher growth rates. With new and other houses going through refurbishing, kitchen appliances can be chosen to fit the size of the kitchen, encouraging a global and regional market for home and particularly, kitchen appliances in several sizes.
Distribution is notably tending towards channels featuring high discounts, including private label goods outlets, mega markets offering high discounts through tax rebates and tie ups with manufacturers, and ecommerce, which has been posing as a major competitor to other sellers due to highly competitive discounts and other offers.
Some notable companies included in the report are Electrolux, GE, LG Electronics, Samsung, Murphy Richards, Phillips, Bosch, and a range of other regional manufacturers.
An expanding middle class with a rising disposable income globally, home appliances becoming cheaper as other new innovations assume the high prices, inclusion of women in the working class, urbanization, and other factors affect the kitchen appliances market in the world.
Grim global economic prospects, a lack of affordable innovations urging people to replace their existing alternatives and a few other challenges exist in the kitchen appliances market.
What the report offers
1) Market Definition for the Kitchen Appliances along with identification of key drivers and restraints for the market
2) Market analysis for the Global Kitchen Appliances Market, with region specific assessments and competition analysis on a global and regional scale
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares
5) Identification and analysis of the Macro and Micro factors that affect the Global Kitchen Appliances Market on both global and regional scale
6)A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information