The North America Built-In Kitchen Appliances Market would witness market growth of 7.3% CAGR during the forecast period (2023-2030).
Aesthetics, modular kitchen renovations, space-saving solutions, eco-friendliness, and smart home technologies drive the increased demand for built-in kitchen appliances. The rising prevalence of smart home devices also stimulates the market. These appliances enable homeowners to remotely operate their appliances via their smartphones or voice-activated assistants, boosting the convenience and efficiency of their kitchen experience. Such qualities appeal to a wide range of consumers, especially the working population, who are technologically adept and have busy work schedules.
A growing demand for optimal space utilization will likely bolster built-in kitchen appliance demand. The capacity to save space is one of the key advantages of built-in appliances. These range from a built-in hob to a built-in hood and are particularly useful in smaller kitchens with limited foundation and surface area. The increasing trend of remodelling traditional kitchens to modular kitchens with integrated energy-efficient appliances, such as these, is projected to drive the market. Furthermore, the rise in disposable income, particularly in emerging economies, has enabled consumers to invest in premium and technologically advanced kitchen appliances.
According to the Bureau of Economic Analysis (BEA) of the US, in June 2023, personal consumption expenditures (PCE) climbed by $100.4 billion (0.5%), while disposable personal income (DPI), or personal income less personal current taxes, increased by $67.5 billion (0.3%). In June, personal savings totalled $862.4 billion, with a saving rate of 4.3 percent of disposable personal income. Higher disposable income allows consumers to afford premium and high-end built-in kitchen appliances. Due to these aspects, the market will expand across the North America region in upcoming years.
The US market dominated the North America Built-In Kitchen Appliances Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $5,339.8 Million by 2030. The Canada market is experiencing a CAGR of 9.7% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 8.8% during (2023 - 2030).
Based on Distribution Channel, the market is segmented into Exclusive Stores, Supermarket & Hypermarket, Online Channels, Contract Sales, and Others. Based on Application, the market is segmented into Residential, and Commercial. Based on Product Type, the market is segmented into Built-in Refrigerators, Built-in Dishwashers, Built-in Hobs, Built-in Ovens & Microwaves, Built-in Hoods, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Built-In Kitchen Appliances Markett is Predict to reach USD 24.2 Billion by 2030, at a CAGR of 7.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, AB Electrolux, Haier Smart Home Co., Ltd. (Haier Group Corporation), Whirlpool Corporation, Panasonic Holdings Corporation, LG Electronics, Inc. (LG Corporation), Elica S.p.A. (FAN S.A.), Samsung Electronics Co., Ltd. (Samsung Group), Hisense International Co., Ltd., and Arçelik A.?. (Koç Holding A.?)
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