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Kitchen Appliances Market Size
- Report ID: GMI411
- Published Date: Apr 2016
- Report Format: PDF
Kitchen Appliances Market Size
Kitchen Appliances Market size in 2015 was over USD 175 billion, and will exceed USD 250 billion by 2023./p>
Changing household and commercial lifestyles, economical availability of electricity, rising concerns regarding ecofriendly appliances are expected to be the key drivers of the kitchen appliances market size. Development of ecommerce distribution channels, emergence of IoT and other smart technologies will support the overall kitchen appliances market share from 2016 to 2023./p>
Traditional methods of cooking, conserving food and dish cleaning require tedious effort and time. Next generation population may not have the sufficient time to invest in these activities and may easily avail these alternatives, from retailers and vendors. This may act as a primary growth factor contributing to the global kitchen appliances market share./p>
| Report Attribute | Details |
|---|---|
| Base Year: | 2015 |
| Kitchen Appliances Market Size in 2015: | 175 Billion (USD) |
| Forecast Period: | 2016 to 2023 |
| Forecast Period 2016 to 2023 CAGR: | 4.4% |
| 2023 Value Projection: | 250 Billion (USD) |
| Historical Data for: | 2012 to 2015 |
| No. of Pages: | 75 |
| Tables, Charts & Figures: | 55 |
| Segments covered: | Application, Product and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Environmental concerns regarding rising pollution and global warming has led to the development of appliance that are energy efficient. Technological advancements in accordance to this trend may help manufacturers garner huge gains over the forecast timeline. Moreover, regulatory bodies are expected to entertain such portfolio in the industry and may boost the current growth rate./p>
High initial capital and maintenance costs are expected to negatively impact on the consumer inclinations towards the new device developments. Uneven economic developments in the rural areas of China, India, and Africa are facing electricity issues. Moreover, around 50% population in 38 of 49 countries in Sub-Sahara survive without electricity which will negatively impact the kitchen appliances market size./p>
Rising number of e-commerce retailers, next generation device developments for increased consumer convenience, connectivity, and energy saving attributes are likely to present potential growth landscape. Ongoing rural electrification projects would also provide stable growth prospects over the long run for viable kitchen appliances market penetration.
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Kitchen Appliances Market Scope
