13-Jul-2021 | Zion Market Research
Major companies in kitchen appliances market are Samsung Group, LG Electronics Inc, The Whirlpool Corporation and Robert Bosch GmbH amongst others. These players are set to bolster the development of global kitchen appliances market.
According to analysts at Zion Market Research, the global kitchen appliances market accounted for more than USD 259.34 Billion in 2020 and is expected to reach more than USD 407.34 Billion by 2028, growing at a CAGR of 6.06% from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Kitchen Appliances Market by Product (Refrigerator, Cooking Appliances, Dishwashers and Others), by Application (Residential and Commercial), by Sales Channel (Online and Offline): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”
Growing Urban Population and Purchasing Power of Consumers to Spur Growth
“Growing urban population and the increasing purchasing power of the consumers will garner the growth for kitchen appliance market in the years ahead,” says the author of this study. Apart from this, the growing preference of people for modular kitchen and the rising demand for innovative and attractive kitchen appliance among the urban population would enhance the market growth throughout the forecast period.
In addition to this, the hectic lifestyle of working professionals is driving the sales of smart kitchen products that aid in effective reduction of time and efforts. Also, the introduction of new appliances for easy and convenient cooking is likely to attract a large number of consumers in the upcoming years.
With the presence of a large pool of participants, the kitchen appliances market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Samsung Group, LG Electronics Inc, The Whirlpool Corporation and Robert Bosch GmbH are some of the key vendors of kitchen appliances across the world. These players across kitchen appliances market are mainly focusing on producing energy-efficient kitchen appliances to provide sustainable and comfort solutions to their customers. Over the coming years, acquiring other companies to expand their kitchen appliances product and further boost their sales revenue.
Presence of Big Players in the Region Support European Growth
Regionally, Europe has been one of leading the worldwide kitchen appliances market and is anticipated to continue to grow in the years to come, states the kitchen appliances market study. The presence of big players in the European countries is one of the key factors behind the dominance of the European kitchen appliances market.
Browse the full “Kitchen Appliances Market by Product (Refrigerator, Cooking Appliances, Dishwashers and Others), by Application (Residential and Commercial), by Sales Channel (Online and Offline): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/kitchen-appliances-market
The global kitchen appliances market is segmented as follows:
By Sales Channel
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651