Kitchen Appliances Market Analysis, Size, Growth, Share & Forecast to 2022 | Grand View Research Inc.
“Kitchen Appliances Market To Reach $246.3 Billion By 2022”
The global kitchen appliances market is estimated to worth USD 246.3 billion by 2022, according to a new study by Grand View Research, Inc. Research and development or innovation by industry participant is anticipated to boost industry growth over the forecast period. Energy efficiency, cost, technology advancement, quality of the products affect the consumers’ buying decision. Emergence of ecommerce industry and investment in distribution channels has not only boosted industry participants’ revenue but also has expanded their reach. Growing demand for product up-gradation is anticipated to drive industry growth over the next seven years. Governments worldwide are focusing on curbing energy consumption through new regulation and consumer awareness campaign, which is anticipated to drive demand for energy efficient technology products. Changing consumer lifestyle and increasing income level is expected to boost industry growth over the forecast period. Increasing demand for ready-to-eat food may pose a challenge to growth over the next seven years. Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/kitchen-appliances-market
Further key findings from the study suggest: • Kitchen appliances include dishwasher, cooking appliances, refrigerator, and other minor product. Some cooking products include griller, oven, barbecue, heater, fryer, cooker, etc. Increase in surplus money and growing dual earning family is expected to drive the demand for higher end or luxury product. Dishwashers are estimated to witness substantial growth owing to increasing home maid wage and decreasing time for household chores. The cooking appliances market is estimated to grow at CAGR of more than 4% over the forecast period.
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