Kitchen Appliances Market Expected to Show Rapid Growth till 2024 | Hexa Research

“Fact-based market research, penetrating industry insights and validated forecasts to help you make better decisions for a stronger future”
Research Report on Kitchen Appliances Market Size, Share, Growth, Price Trends, Application Potential, Regional Outlook, Competitive Market Players and Forecasts, 2016 – 2024

16 January 2019, the global Kitchen Appliances Market was estimated at around USD 179 billion in 2015. Energy and cost efficient products can gain revenue share due to government initiative to conserve electricity consumption.

Rise in fast-paced modern lifestyle, dual income households, growing preference for modular kitchen are expected to drive the demand of kitchen appliances. Moreover, rapid urbanization and product upgrade can also contribute to market growth.

Increasing electricity costs and government focus to spread awareness about energy consumption can promote environment friendly and energy efficient products. Health conscious and geriatric population requires kitchen appliances that require less oil. The penetration of these appliances in the market can further propel industrial growth. The kitchen appliances market is divided into products, fuel type, product structure, applications, and regions.

By products, the market is segmented into dishwasher, refrigerator, cooking appliance, and other appliances. Refrigerator accounted for over 40% of overall revenue share. It is expected to grow at a CAGR of around 5% till 2024.

Fuel types comprise of electricity, cooking gas, solar energy, fuel wood, biogas, and renewable energy. On the basis of product structure, the industry is bifurcated into built-in and free standing appliances.

Applications are split into commercial and residential. Commercial refrigerators are widely used in supermarkets, convenience stores, restaurants specialty food stores, grocery stores, and cafeterias. Residential segment was valued surpassing USD 100 billion in 2014. It is expected to be the leading sector in the coming years.

Browse Details of Report @
https://www.hexaresearch.com/research-report/kitchen-appliances-market

Regions encompass North America, Asia Pacific, Europe, and the Rest of the World (RoW). North America is likely to dominate global revenue in the coming years.

Asia Pacific kitchen will witness a considerable growth due to the rise in the middle class population. The ‘Make in India’ program established by the Indian government can further boost the market competitors and growth in the region in the coming years.

Some of the major industrial players are Samsung Electronics, Whirlpool Corporation, Haier Group, LG Electronics, and Morphy Richards Limited. Development strategies include acquisition and product launch. Acquisition helps companies share technological requirements. Electrolux introduced an in-oven Cam prototype, which is an oven with a built-in camera to monitor food.

Browse Related Category Reports @
Action Camera Market : – Growth of travel industry and increasing number of travellers and adventure sports enthusiasts can propel Action Camera Market growth in coming years.

360 Degree Camera Market : – Rising demand for safety and security arrangements in corporate companies, banks, and public places is anticipated to drive the 360 Degree Camera Market in future.

About Us:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

More Information Visit @ www.hexaresearch.com

Media Contact
Company Name: Hexa Research
Contact Person: Ryan Shaw
Email: Send Email
Phone: +1-800-489-3075
Address:Felton Office Plaza, 6265 Highway 9
City: Felton
State: California 95018
Country: United States
Website: www.hexaresearch.com/research-report/kitchen-appliances-market