Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Modular Kitchen Market market.
Trusted Business Insights presents an updated and Latest Study on Modular Kitchen Market Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Modular Kitchen Market market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Global Modular Kitchen Market was valued at US$ X.X Bn in 2018 and is anticipated to be valued at US$ X.X Bn in 2028. The global modular kitchen market has been divided on the basis of product type, design/layout, raw material, sales channel, and region & country.
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Modular Kitchen: Product Overview
A modern layout of kitchen furniture consisting of numerous units of cabinets or modules made by using different materials including wood, high-pressure laminate, metal, etc. with required accessories and which provides efficient use of kitchen space can be termed as a modular kitchen. These kitchen models are gaining popularity and traction as modular kitchens can be dismantled completely and can be re-used in case individuals are moving to a new place with different kitchen space and set up. The only difference between semi-modular kitchen and modular kitchen is that semi-modular kitchen cannot be dismantled completely, that is kitchen platform made by using marble and Granite counter-top which needs to be broken to remove it.
Modular Kitchen Market: Dynamics
Modular kitchen has been becoming popular at a global level as it aids in utilization of the kitchen space according to requirements of the user. It also has various sections that help to organize the kitchen utensils and accessories. The above-mentioned are some of the key factors anticipated to propel target market growth over the next few years. Moreover, as these kitchens can be customized as per requirements of the customer, it offers multiple storage options to store kitchen related items. The availability of these kitchens in various designs and durable materials is a factor expected to support growth of the target market. Increasing adoption of open modular kitchen in residential as well as some commercial places is expected to propel market growth. Some of the house-owners carry out remodeling of the households in order to increase sales value, this combined with easy availability of designer modules is resulting in higher demand for modular kitchens and is augmenting market growth. Moreover, increasing residential and commercial construction activities, rising number of restaurants and dining outlets globally is one of the key factors fueling demand for modular kitchens and supporting market growth.
However, highly fragmented market is a major factor that could challenge growth of the target market. Moreover, existence of local carpenters in the global market and offerings given by them at lower costs could hamper the market growth to a certain extent. High cost associated with installation and maintenance of modular kitchen is another factor projected to limit growth of the global market.
Modular Kitchen Market: Segment Analysis
By Product Type:
Among the segments based on product types, the tall storage segment is anticipated to contribute considerable revenue share in the market, owing to various storage options offered by tall storage including pantry, grocery items, etc.
Among the design/layout segments, the L-shape segment is estimated to register a considerable growth rate, due to high demand from most of the households for L-shaped kitchen.
By Raw Material:
Among the raw material segments, the high-pressure laminates segment is expected to account for significant revenue share in the global market, because of various benefits offered by this material including durability and ability to add a decorative look to the finished product.
By Sales Channel:
Among the sales channel segments, the offline segment is projected to account for dominant revenue share, owing to various services offered by physical stores to the customers including an illustration of the actual product, and product customization services and after-sales service.
Analysis by Region: Global Modular Kitchen Market
The modular kitchen market in Asia Pacific is projected to account for significant revenue share in the target market, owing to increasing inclination towards modern lifestyles, combined with increasing income levels. Moreover, the easy availability of raw materials and labor at reasonable costs, and growing urbanization are some other factors expected to support revenue growth of the market in this region. The North America modular kitchen market is expected to register significant CAGR, owing to the increasing number of household constructions. In addition, increasing renovation activities in order to change the interiors of the house is another factor projected to fuel growth of the target market in the region. Markets in MEA and Latin America are expected to register steady growth rate over the 10-year forecast period.
Global Modular Kitchen Market Segmentation:
Segmentation by Product Type:
Segmentation by Design/Layout:
Others (Island and Peninsula)
Segmentation by Raw Material:
Wood Veneers and Melamine
Others (Acrylic, Glass, etc.)
Segmentation by Sales Channel:
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