Built-In Kitchen Appliances Market Size, Share, & Trends Analysis Report By Product Type, By Application (Residential, Commercial), By Distribution Channel (Contract Sales, Exclusive Stores), By Region, And Segment Forecasts, 2023 - 2030

Built-In Kitchen Appliances Market Size, Share, & Trends Analysis Report By Product Type, By Application (Residential, Commercial), By Distribution Channel (Contract Sales, Exclusive Stores), By Region, And Segment Forecasts, 2023 - 2030

Built-In Kitchen Appliances Market Growth & Trends

The global built-in kitchen appliances market size is anticipated to reach USD 24.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.6% from 2023 to 2030 in terms of revenue. The increasing adoption of smart technologies in homes, and the growing demand for energy-efficient appliances are driving the market for built-in kitchen appliances.

The COVID-19 pandemic had a significant impact on the built-in kitchen appliances industry. With restrictions on movement, lockdown measures, and changes in consumer behavior, the industry experienced both challenges and opportunities. People spending more time at home due to lockdowns and restrictions, leading to an increased focus on home improvement and renovation projects positively impacted the market growth.

Built-In Kitchen Appliances Market Report Highlights

• Based on product type, the built-in refrigerator segment accounted for the largest revenue share of 27.5% in 2022. This can be attributed to the increasing demand for premium appliances in modern homes and increasing consumer spending on large kitchen appliances such as built-in refrigerators
• Based on the application, the residential segment dominated the market and held a share of 82.3% in 2022. This can be attributed to the changing lifestyle patterns and the growing trend of open-plan living. Homeowners are increasingly seeking modern and functional kitchen spaces that offer more than just a place to cook
• Based on the distribution channel, the exclusive store segment dominated the market with a share of 38.5% in 2022. The exclusive stores offer a personalized experience to the consumers and provide additional services related to the installation of built-in appliances, which makes it a popular choice among consumers
• Europe held a market share of 39.0% in 2022. The market growth in this region is primarily attributed to increasing consumer spending on kitchen remodeling and modular kitchens. Asia Pacific is anticipated to expand at a faster CAGR of 8.8% over the forecast period
• Mergers & acquisitions, agreements, R&D activities, new product launches, and expansions are the key strategies adopted by the companies over the past years. For instance, in January 2023, Haier Group launched its new range of built-in kitchen appliances under its GE PROFILE brand. The objective of the strategy is to expand the GE PROFILE brand's product line in kitchen categories with contemporary appliances equipped with leading-edge features and meet the evolving needs and preferences of consumers in these essential areas of the home

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