The modular kitchen appliances market size was valued at USD 39.9 billion in 2023 and is expected to reach USD 64.2 billion by 2032, at a CAGR of 5.4%.
FORT COLLINS, Colo., May 14, 2024 (Globe Newswire) —
Rapid urbanization and the pursuit of modern lifestyles have increased the demand for modular kitchen appliances.
of Modular kitchen appliances market has experienced remarkable growth, mainly due to rapid urbanization and lifestyle evolution. As urban populations expand, demand for compact and efficient living spaces increases. Modular kitchen appliances offer space-saving solutions that perfectly meet the needs of modern urban dwellers. In addition, lifestyle changes characterized by a preference for convenience and time-saving methods have increased the adoption of modular kitchen appliances designed to streamline the cooking process.
Additionally, with increasing disposable income, consumers are increasingly investing in high-end and technologically advanced kitchen appliances. Modular kitchen appliances often include innovative features such as smart connectivity, energy efficiency, and multifunctional features to meet consumer needs for a seamless and convenient cooking experience. This trend reflects consumers' growing desire for home appliances that simplify their daily lives and improve their overall kitchen experience.
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Segmentation overview:
The modular kitchen appliances market is segmented into product type, distribution channel, end-use, and region.
Built-in refrigerators are a major product that is expected to grow in the coming years.
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The market is segmented by product type into built-in ovens, microwave ovens, dishwashers, barbecues, refrigerators, etc. Built-in refrigerators account for a large share of modular kitchen appliances in the product type segment. Refrigerators are essential appliances in every kitchen, and with the growing trend towards modular kitchens, built-in refrigerators are becoming more popular as they are sleek and seamlessly integrated into the overall design.
Residential accounted for the major share in the end-use category.
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Based on end use, the market is segmented into residential and commercial. The household category accounts for a significant share in the end-use segment of the modular kitchen appliances market. This can be attributed to the increasing demand for modular kitchen appliances in residential environments due to urbanization, lifestyle changes, and increasing preference for convenience and space-saving solutions.
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Highlights of the Modular Kitchen Appliances Market Report:
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Future trends in the modular kitchen appliances market include growing interest in smart, connected appliances, energy-efficient and environmentally friendly products, and built-in and integrated appliances.
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Europe holds a major share in the modular kitchen appliances market, with countries such as the UK, London, and Germany accounting for the major share in this region.
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Some of the prominent players in the Modular Kitchen Appliances market report include Whirlpool Corporation, Electrolux AB, Haier Group, LG Electronics, Samsung Electronics, Panasonic Corporation, BSH Hausgeräte GmbH, Miele & Cie. KG, Sub-Zero Group Inc., and Dacor. included.
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