The built-in kitchen appliance market is sizzling with opportunity, with a projected value of US$ 32,681.2 million by 2034. This translates to a delicious CAGR of 7.5% from 2024, signifying a market ripe for investment and innovation. Here’s why decision-makers in the home appliance industry should take notice:
Leveraging Consumer Preference for a Proven Performer: Built-in kitchen appliances are a trusted choice for homeowners, offering a sleek and integrated look that elevates any kitchen. This established preference positions your brand for success by catering to a loyal customer base.
Smart Tech: Serving Up Elevated Functionality: The future of kitchens is smart, and consumers are hungry for appliances with Wi-Fi connectivity and beyond. By incorporating smart technology into your built-in appliances, you’ll provide features that extend beyond basic functionality, such as remote control, recipe suggestions, and energy monitoring. This translates to a more attractive product offering for tech-savvy homeowners.
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Homeowners are eager to have convenience in kitchens in the form of space. Thus, many homeowners prefer portable kitchen appliances to built-in ones. However, producers are addressing the needs of homeowners by producing space-saving built-in kitchen appliances. Built-in kitchen appliances are also noted to have an advantage over portable appliances in terms of capacity.
Key Takeaways from the Built-in Kitchen Appliance Market
- The built-in kitchen appliance market is projected to be valued at US$ 15,856.7 million in 2024.
- Built-in refrigerators are the most in-demand built-in kitchen appliances. In 2024, built-in refrigerators are projected to contribute to 26.4% of the market share by product type.
- Residences are where built-in kitchen appliances are widely used. For 2024, the residential sector is expected to account for 80.8% of the market share.
- Australia is one of the most promising countries in the market. For the forecast period, the CAGR for Australia is estimated to be 7.9%.
- China and India are two countries with potential for the market in Asia. The CAGR for China and India over the forecast period is anticipated to be 7.6% and 7.8%, respectively.
- The market is expected to register a CAGR of 7.7% in Germany for the forecast period.
“Built-in kitchen appliances that help to save energy are winning over consumers. Consumers are looking to cut down both on costs and on damage to the environment. Thus, energy-saving built-in kitchen appliances offer prospects in the market.”- Says Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights (FMI).
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Key Market Players
- Samsung
- BSH Hausgeräte GmbH
- Electrolux
- Haier Group
- Whirlpool Corporation
- Panasonic Holdings Corporation
- LG Electronics
- Elica S.p.A.
- Gorenje
- Arcelik
Competitive Analysis of the Built-in Kitchen Appliance Market
Integration of advanced technology is a priority for players in the market. Thus, market players are expected to be quick to react to new developments. Expanding into previously unexplored geographical areas is a strategy for many players. The market is fragmented enough that new entrants have pathways to entry.
Recent Developments in the Built-in Kitchen Appliance Market
- In September 2023, Samsung included kitchen appliances with capabilities like Wi-Fi connectivity and AI into its Bespoke range.
- In June 2023, Dacor’s 48-inch Built-In refrigerator with capabilities like an auto-filling water pitcher and a dual icemaker was launched.
- In February 2023, Electrolux entered the Indian market with a range of products like ovens and dishwashers.
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Market Segmentation
By Product Type:
- Ovens & Microwaves
- Hobs
- Hoods
- Dishwashers
- Refrigerators
- Others
By Application:
- Residential
- Commercial
By Distribution Channel:
- Contract Sales
- Exclusive Stores
- Supermarket & Hypermarket
- Online Channels
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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