Modular Kitchen Market is Likely To Touch USD 28.54 Billion by 2025: Grand View Research Inc.
The global modular kitchen market size is expected to reach USD 28.54 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 5.8% during the forecast period.
(firmenpresse) - The global modular kitchen market size is expected to reach USD 28.54 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 5.8% during the forecast period. Growing number of housing projects supported by the increasing purchasing power of consumers from developing nations including India, Thailand, and Brazil, is expected to drive the market. Furthermore, the rapid rise in the number of nuclear families on a global level is expected to promote installation of new modular kitchens in new constructions.
The L-shaped product design segment held the largest market share of more than 55% in terms of revenue in 2018. This design is the most popular among consumers due to its better flexibility and convenience. In addition, this design is well suited for small size kitchens.
Tall storage segment is expected to witness the fastest CAGR of 6.3% from 2019 to 2025. This product can store a large number of commodities in a single cabinet and also provides an attractive vertical look to the house. These factors are anticipated to bode well for the segment growth in the forthcoming years.
As of 2018, the wood products led the modular kitchen market in terms of raw material, accounting for over 60% of the global revenue. On the other hand, the fiber/plastic material is expected to register the fastest CAGR in near future as this material is waterproof, oil proof, and termite-proof. This material is available in a less expansive price range compared to other raw materials, which is expected to further drive the demand.
Europe held the leading market share of more than 30% in terms of revenue in 2018. The presence of prominent manufacturers and availability of a wide range of products is projected to drive the market in countries such as Germany, U.K., France, Italy, and Poland. On the other hand, Asia Pacific is expected to register the fastest growth due to the rapid growth of residential construction in this region. Rising purchasing power along with rapid urbanization in the countries, such as India, China, Japan, Malaysia, and Indonesia, is expected to fuel the product demand.
To request a sample copy or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/modular-kitchen-market
Further key findings from the report suggest:
Floor cabinet held the largest modular kitchen market share of over 60% in 2018
In terms of raw material, wood products is expected to hold a market share of more than 40% by 2025
Online distribution channel is expected register the fastest CAGR of 6.2% from 2019 to 2025
Key market participants include Häfele GmbH & Co KG; Nobia AB; Häcker Küchen GmbH & Co. KG; Nobilia GB Ltd; LINEADECOR; Snaidero Cucine; Bulthaup; Boston Cabinets, Inc.; Pedini; SieMatic; and The Hettich Group
Grand View Research has segmented the global modular kitchen market on the basis of design, product, raw material, distribution channel, and region:
Modular Kitchen Design Outlook (Revenue, USD Million, 2015 - 2025)
L-Shape
U-Shape
Parallel
Straight
Island
Modular Kitchen Product Outlook (Revenue, USD Million, 2015 - 2025)
Floor Cabinet
Wall Cabinet
Tall Storage
Modular Kitchen Raw Material Outlook (Revenue, USD Million, 2015 - 2025)
Wood
Metal
Fiber/Plastic
Others
Modular Kitchen Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Offline
Online
Modular Kitchen Region Outlook (Revenue, USD Million, 2015 - 2025)
North America
Europe
Asia Pacific
Central & South America
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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Datum: 16.08.2019 - 09:36 Uhr
Sprache: Deutsch
News-ID 597268
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