Modular Kitchen Market – Growth, Trends, And Forecast (2020 – 2025)
Modular Kitchen market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics has been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. The Market share and Market size prominent players for 2020 to 2025 are profiled in this report.
Top Companies Nobilia GB Ltd, Hettich Group, IKEA US, SieMatic Mobelwerke GmbH & Co. KG, Boston Cabinets Inc., Lineadecor USA, Poggenpohl, Pedini, Hcker Kchen, Europlak SV Cucine India Limited, Snaidero, Others (Nobia AB, Bulthaup)
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Scope of the Report
The modular kitchen market is driven by a rising middle-class population, an increase in a number of housing units, decreasing household size, growing demand for premiumization, changing customer preference, growing partnerships between contractors, and real estate project developers for designing modular kitchens. As a large number of nuclear families are growing, preference for small houses and space-saving ideas are giving growth to the modular kitchen market.
Key Market Trends
L-shaped Designs are Widely Adopted in the Modular Kitchen Markets
– The L-shaped layout of a kitchen is widely adopted by consumers in the market and holds a higher share in terms of revenue. The L-shaped modular kitchen is preferred majorly because it is easily set up in small spaces.
– The L-shaped kitchen is gaining popularity among nuclear families with space constraints as it offers efficient utilization of floor spaces. They also have a separate part for cooking and cleaning.
– Moreover, they are easily adopted in open kitchen styles by offering large spaces to store cookware, etc. However, island kitchen designs that are stylish and functional expected to grow fastest in the modular kitchen designs segment.
Asia-Pacific Region is Expected to Grow Fastest Among the Regions
– Europe is leading the modular kitchen furniture market by holding the highest share of the market.
– The region is held by many manufacturers and architects that fuelled the growth of the market.
– Germany, the United Kingdom, Italy, Poland, and France are leading the market in both consumption and production terms.
– Eastern European nations are also expected to see high growth in the forecasted period.
– The Asia-Pacific market is expected to witness the highest growth due to rising construction expenditure and urbanization in countries, like India, China, Malaysia, Indonesia, and Japan.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Modular Kitchen Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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