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According to Reports and Data's latest report, the global market for built-in kitchen appliances was valued at USD 15.21 billion in 2021, and it is projected to experience a revenue compound annual growth rate (CAGR) of 6.1% during the forecast period. The report indicates that the market is likely to see a rise in demand due to the need for optimal space utilization, leading to increased demand for kitchen appliances and driving market growth.
Built-in appliances have space-saving features, which are a major advantage. They take up only the space used by cabinets, making them ideal for small kitchens with limited base and surface space. The built-in appliances in the modular kitchen are flush with the wall, which gives it a clean and modern look that adapts well to modern as well as classic and country kitchens. In addition, built-in kitchen appliances have a sleek and modern aesthetic, making it easy to create a seamless finish across your kitchen plan. This also provides sophisticated and better working conditions.
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Top Profiled Companies in the Global Built-In Large Cooking Appliances Market Report:
Hangzhou Robam Appliances Co., Ltd., Elica, Vatti Corporation Limited, BSH Hausgeräte GmbH, AB Electrolux, Haier Inc., Whirlpool Corporation, Panasonic Corporation, Gorenje, and Arcelik.
Some Key Highlights from the Report
· The North American market is anticipated to account for the largest share of sales during the forecast period due to the increasing home renovation activity in the region. For example, after the pandemic, there is a large unmet demand for some home renovations, especially kitchens. According to Houzz U.S., major kitchen remodels, including new appliances, are up 14% year-over-year, according to the 2022 Kitchen Trends Study. Kitchen appliances are the second most popular feature that homeowners spend a lot of money on when renovating. As customers strive to embrace new technology, they find creative ways to utilize their spaces, choose finishes and designs for every occasion, promote health and well-being, and even create a multitude of products that are easier to care for. A functional solution is provided.
· In February 9, 2022 LG Electronics (LG)'s latest Signature Kitchen Suite French Door built-in refrigerator will be unveiled in person at the 2022 Kitchen & Bath Industry Show (KBIS), February 8-10 in Orlando, Florida It was done (we.). New to LG's premium line of built-in kitchen appliances, the 48-inch-wide French door refrigerator combines the versatility and convenience of a convertible drawer with a sleek, practical design that's more stylish and practical.
· On Sept. 27, 2021, Whirlpool made another investment in kitchenware maker Elica PB India, increasing its stake from his current 49% to his 87% at a cost of $57 million. Whirlpool India acquired a majority stake in Elica PB India and Whirlpool India merged Elica PB India's financial accounts. According to the announcement, the transaction will close by the end of September 2021. In 2018, Whirlpool India first acquired a 49% stake in Elica PB India.
Key Regional Markets Covered in the Report:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Further market segmentation
Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Built-In Ovens
- Built-In Hobs
- Built-In Hoods
- Built-In Refrigerators
- Built-In Dishwashers
- Others
Application Outlook (Revenue, USD Billion; 2019-2030)
- Residential
- Commercial
Key Takeaways of the Global Built-In Large Cooking Appliances Market Report:
· A comprehensive overview of the global Built-In Kitchen Appliances industry.
· Accurate market projections in terms of market size, share, and volume.
· Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
· Deep-dive analysis of the upcoming market trends.
· Qualitative and quantitative analyses of the global Built-In Large Cooking Appliances Market.
· Elaborate study of the leading regional markets in the global Built-In Large Cooking Appliances Market.
· Complete overview of the market’s competitive landscape.
· Brief look at the company profiles and portfolios.
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