Fort Collins, Colorado, May 14, 2024 (GLOBE NEWSWIRE) --
Rapid urbanization and the pursuit of a modern lifestyle have encouraged demand for modular kitchen appliances.
The modular kitchen appliances market is experiencing remarkable growth, primarily propelled by rapid urbanization and evolving lifestyles. As urban populations expand, there's a heightened demand for compact and efficient living spaces. Modular kitchen appliances offer space-saving solutions, perfectly aligning with the needs of modern city dwellers. Furthermore, changing lifestyles, characterized by a preference for convenience and time-saving methods, have contributed to the increased adoption of modular kitchen appliances designed to streamline cooking processes.
Moreover, with rising disposable incomes, consumers are increasingly inclined to invest in premium and technologically advanced kitchen appliances. Modular kitchen appliances often boast innovative features such as smart connectivity, energy efficiency, and multifunctional capabilities, catering to consumers seeking a seamless and convenient cooking experience. This trend reflects a growing desire among consumers for appliances that simplify their daily routines and enhance their overall kitchen experience.
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Segmentation Overview:
The modular kitchen appliances market has been segmented into product type, distribution channel, end-use, and region.
Built-in refrigerators are the leading products projected to grow higher in the coming years.
- The market is segmented by product type into built-in ovens, microwaves, dishwashers, barbecues, refrigerators, and others. Built-in refrigerators hold a significant share of the modular kitchen appliances for the product type segment. Refrigerators are essential appliances in every kitchen, and with the growing trend of modular kitchens, built-in refrigerators have become more popular due to their sleek and seamless integration into the overall design.
Households accounted for a leading share in the end-use category.
- Based on the end-use, the market segmentation includes household and commercial. The household category holds a substantial share of the end-use segment of the modular kitchen appliances market. This can be attributed to the increasing demand for modular kitchen appliances in residential settings, driven by urbanization, changing lifestyles, and a growing preference for convenience and space-saving solutions.
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Modular Kitchen Appliances Market Report Highlights:
- The modular kitchen appliances market growth is anticipated at a CAGR of 5.4% by 2032.
- The upcoming trends in the modular kitchen appliances market include smart and connected appliances, energy-efficient and eco-friendly products, and a growing preference for built-in and integrated appliances.
- Europe holds a significant share of the modular kitchen appliances market, with countries like the United Kingdom, London, and Germany, holding major share in this region.
- Some 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.
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