The rising purchasing power of individuals and the variety of product portfolios offered by market players are influencing the demand for built-in kitchen appliances market throughout the forecast period.
According to TechSci Research report, “India Built-in Kitchen Appliances Market – By Region, Competition, Forecast and Opportunities, 2018-2028F” The India built-in kitchen appliances market is expected to project impressive growth of USD601.18 million by the end of 2028, on account of rapidly surging demand from the residential sector as well as the increasing preferences for convenient and quality-based products among population in India.
The built-in kitchen appliances market is supported by significant factors such as an increasing middle-class population, infrastructure development, rising need for renovation, rapidly increasing urbanization, growing demand for residential spaces, etc. Moreover, increasing technological advancements such as smart technologies in built-in kitchen appliances, etc., on the back of strict government standards, modern trade, increasing demand from Tier I and Tier II cities, growing online sales of built-in kitchen appliances, and the availability of financing and emerging new payment modes are some other factors that are anticipated to contribute to the growth of the India built-in kitchen appliances market in the next five years at a high rate.
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The India built-in kitchen appliances market is segmented based on product type, end distribution channel, regional distribution, and competitive landscape. Based on product type, the market is further fragmented into built-in hobs, built-in hoods, built-in ovens & microwaves, built-in dishwashers, built-in refrigerators, and others (built-in coffee machines, built-in barbeque grillers, etc.). The built-in hobs segment is expected to register the largest revenue share of the market and dominate the market segment in the upcoming five years on account of its various advantages, such as greater energy efficiency, blending with home décor, as they are not bulky, and therefore highly suitable for a compact kitchen. These are significant factors influencing the growth of built-in hobs within India’s built-in kitchen appliances market.
The market is segmented into contract sales, multi-branded stores, exclusive stores, and online based on the end-use sector. The exclusive stores segment is anticipated to grow the fastest in India’s built-in kitchen appliances market, as consumers are inclined toward branded products due to the rising preference for quality-based products. Also, various brands offer discounts, extended warranty periods, etc., to expand their consumer base. The use of built-in kitchen appliances within the household sector is continuously increasing with the growing standard of living and the easy availability of these products. Such factors contribute to the increasing demand for built-in kitchen appliances within the residential sector.
Key market players in the built-in kitchen appliances market include:
· Whirlpool of India Ltd.
· BSH Household Appliances Manufacturing Private Limited
· Franke Faber India Private Limited
· Hafele India Private Limited
· Miele India Pvt. Ltd.
· Samsung India Electronics Private Limited
· Haier Smart Home Co. Ltd.
· Kaff Appliances (India) Private Limited
· IFB Appliances LTD
· BlowHot Kitchen Appliances Pvt. Ltd.
With the increasing competition in the India built-in kitchen appliances market, most major brands are focused on producing new models with the latest features. Also, market players of built-in kitchen appliances are investing in research and development departments to develop innovative offerings to target the untapped consumer base around the nation.
Furthermore, the market players are continuously enhancing their product portfolios and acquiring and merging with other players to expand their consumer base. For instance, in 2021, Whirlpool acquired an additional stake in kitchen appliance maker Elica PB India for $57 million. The company developed a majority stake in Elica PB India, i.e., increasing its holding from 49% to 87%.
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Since the northern states of India are home to a more significant proportion of India’s population, the North India area accounts for the largest revenue share in the built-in kitchen appliances market. Moreover, other factors, such as the rising demand for residential spaces, particularly in the northern areas such as Delhi/NCR, which has the highest demand for built-in kitchen appliances, etc., are projected to further fuel the market growth in the region in the forecast period.
“Consumer adoption of built-in kitchen appliances is likely to increase over the next five years, given the rising consumer spending on luxury products and the expanding number of distributors and dealers of built-in kitchen appliances cooperating with big online portals such as Flipkart, Amazon, and others.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Built-in Kitchen Appliances Market By Product Type (Built-in Hobs, Built-in Hoods, Built-in Ovens & Microwaves, Built-in Dishwashers, Built-in Refrigerators, and Others (Built-in Coffee Machines, Built-in Barbeque Griller, etc.)), By End Distribution Channel (Contract Sales, Multi-Branded Stores, Exclusive Stores, and Online), By Region, Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of India built-in kitchen appliances market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India built-in kitchen appliances market.
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