Asia Pacific Kitchen Appliances Market size to register 5.1% CAGR from 2016 to 2024

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Kitchen Appliances Market share to exceed USD 250
billion by 2023 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Kitchen Appliances Market

• The Industry research report Kitchen Appliances
  Market Size By Application (Residential,
  Commercial), By Product (Cooking Appliances,
  Refrigerator, Dishwasher), Industry Analysis
  Report, Regional Outlook, Application Potential,
  Competitive Market Share Forecast, 2016
  2023. Kitchen Appliances Market share to reach
  USD 250 billion by 2023 As per a report by
  Global Market Insights, Inc.
• The concept of smart world is being realized at
  all levels, right from the giant industries to
  our very own houses. Kitchen, which is the most
  important part of a home, has also been
  significantly influenced by the revolutionary
  trend of the internet of things. This can be well
  justified by the growing market of kitchen
  appliances, which is already a billion-dollar
  industry and is all set to achieve new heights
  over the coming years.
• The technology has embarked its prominent
  presence in this market. The manufacturers
  dealing with the kitchen appliances business
  space are investing heavily in blending
  technology with these appliances. Not only the
  big-ticket products such as refrigerators, but
  also the smaller devices are being worked on to
  stay in parallel with the hi-tech advancements
  and the rising demand for convenient and smart
  products from the consumers.

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Continued...

• The race to win this technology embarked era has
  already been well started by some of the key
  manufacturers in this industry. For instance, a
  recent announcement by LG regarding its HomeChat
  Service gained a lot of traction by the media
  worldwide. This concept is based on linking the
  indispensable kitchen appliances such as
  refrigerators and ovens to the smartphones,
  wherein the latter can be used by the users to
  send messages to these appliances.
• Moreover, another announcement by Samsung on 4th
  May 2016, made to a big headline and shook the
  market with a sense of tough competition lying
  ahead. This was about its new product- Family
  Hub smart fridge which is equipped with all the
  latest technologies such as camera which enables
  the fridge to check within itself, touchscreen,
  games, Wi-Fi, etc. to enhance the user
  experience.
• Various other leading players are also
  participating in this race such as Haier,
  Electrolux, Philips, Panasonic, etc. Moreover,
  the increasing market will also hold a wide set
  of opportunities for the hardware vendors as well
  as for the startups in this space, provided they
  are well advanced in terms of technological
  aspects.

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Continued...

• The rising fuel prices is also building high
  growth opportunities for the kitchen appliances
  market, owing to the growing demand for induction
  devices. Both the residential and the commercial
  sectors contribute significantly towards this
  market growth.
• The increasing number of restaurants globally is
  boosting the commercial applications of the
  kitchen devices market, which is estimated to
  witness a CAGR of 4.6 over 2016-2023. Also, the
  rising demand for automation and replacement of
  old devices will drive the residential
  application market share. The kitchen appliances
  application in residential sector is forecast to
  surpass USD 150 billion by 2023.
• The rising concerns pertaining to the environment
  and optimum energy utilization has boosted the
  demand for gas appliances, which holds a major
  share in the kitchen appliances market.
  Refrigerators, which are the most common yet
  vital part of the kitchen also contribute towards
  a noticeable share of this market. The global
  refrigerator market is forecast to surpass a
  revenue of USD 105 billion by 2023.

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MEA kitchen appliances market size, by product,
2012-2023 (USD Billion)

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Browse Full Market Research Report Of Kitchen
Appliances Market _at_ https//tinyurl.com/h27fj2p
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https//www.gminsights.com/request-sample/detail/4
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Continued...

• The improvement in the economy is also boosting
  the global kitchen appliances market size. The
  Asia Pacific market is estimated to cross USD 75
  billion by 2023, owing to the rise in disposable
  income and growing population base across this
  region. India China are likely to lead the APAC
  market.
• The manufacturers are expanding their reach by
  tying up with various distributing channels such
  as retail stores, third party suppliers, etc. In
  this respect, e-commerce has also come up as a
  significant distributing channel due to the
  competitive pricing of these products as well as
  the convenience offered by these portals like
  home delivery, easy return policy, etc.
• The industry though is not yet completely
  transformed by the IoT revolution, but is surely
  to see some smart developments in the near
  future.

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