Modular Kitchen Market Likely to Reach Beyond $28.54 Billion by 2025

22/feb/2021 08:00:13 Grand View Research Contatta l'autore

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 convcenience. 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.

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.

Browse Details of Report @ 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

 

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