Household Kitchen Appliances Market forecast to grow at 4.3% CAGR from 2016 to 2023

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Global Kitchen Appliances Market share worth USD
250.38 billion by 2023 Fractovia.org
Fuel Cell Market ize worth 25.5bn by 2024
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Key Insights of Kitchen Appliances Market

• Emergence of smart technologies such as IoT
  (Internet of Things) and effective distribution
  channel functioning will boost kitchen appliances
  market growth in the near future. Growing use of
  eco-friendly kitchen appliances and rise in
  spending capacity of the consumers is expected to
  influence the industry trends over the coming six
  years. Rising popularity of smart grid connected
  dishwashers and refrigerators has significantly
  reduced the power consumption, thereby supporting
  the industry growth. Escalating need for new
  technologies due to rise in fuel costs is
  expected to drive kitchen appliances market size
  over the coming timeframe.
• Kitchen appliances find wide applications across
  commercial and residential sectors. Commercial
  sector, which contributed over 35 to the overall
  kitchen appliances market share in 2015, is
  expected to grow considerably over the period of
  2016-2023. Booming food line business along with
  rise in the number of fast-food restaurants
  across the globe are expected to be the key
  growth drivers. As per the research study,
  residential applications are likely to grow at a
  rate of 4.3 over 2016-2023, driven by changing
  consumer lifestyles along with the introduction
  of new technologies resulting in large scale
  production of energy cost efficient kitchen
  appliances.

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Continued

• Considering the product trends in the kitchen
  appliances industry, refrigerator market share is
  forecast to observe significant gains of 4.7
  over the coming six years. Ability to reduce
  electricity bill costs along with eco-friendly
  and energy conserving features of refrigerators
  are the key growth drivers. Dishwater industry
  size is projected to grow at a CAGR of 3.4 over
  the period of 2016-2023, driven by rising labor
  charges. Cooking appliances market value
  estimated at USD 55 billion in 2015, is forecast
  to witness a high surge over the coming
  timeframe, driven by enhanced production of
  environment-friendly and energy efficient cooking
  appliances.
• Geographically, Asia Pacific kitchen appliances
  industry size is projected to witness a
  substantia growth over the next few years,
  driven by massive population growth along with
  increase in purchasing capacity of the consumers.
  
• A substantial shift towards cooking electronics
  applicances and home automation devices is
  expected to drive North America kitchen
  appliances industry size over the coming six
  years. U.S. is predicted to drive the regional
  growth. Companies will try to increase their ROI
  through product innovation and manufacture of
  high quality as well as cost-effective products.
  Key industry participants include LG Electronics,
  Whirlpool Corporation, Haier, Samsung
  Electronics, Robert Bosch GmbH, Panasonic
  Corporation, Philips, and Electrolux.

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

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