The North America Kitchen Appliances Market would witness market growth of 5.4% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 99,599.4 thousand Units, showcasing a growth of 5.8% (2019-2022).
The rise of the Internet of Things (IoT) has ushered in the era of smart kitchen appliances. These appliances can be connected to smartphones or other devices, allowing users to control and monitor them remotely. Smart appliances offer features such as remote operation, energy usage monitoring, and recipe recommendations. The aesthetics of kitchen appliances have become a significant consideration for consumers. Manufacturers invest in sleek, modern designs and various color options to meet consumer preferences and harmonize with kitchen décor.
As lifestyles have become increasingly fast-paced and demanding, consumers seek time-saving solutions to meet their culinary needs. Kitchen appliances are pivotal in streamlining cooking processes, allowing individuals and families to enjoy convenient meal preparation. Environmental consciousness and the desire to lower energy consumption have become paramount for consumers. As a result, there is a growing demand for energy-efficient kitchen appliances that not only save on utility bills but also reduce the carbon footprint.
Statistics Canada reports that in 2021, approximately 73.7% of the Canadian population resided in one of the country's major urban centers. Census metropolitan areas (CMAs), which are sizable urban centers with a population of 100,000, were responsible for most of Canada's population growth (+5.2%) between 2016 and 2021. Urbanization often leads to smaller living spaces, such as apartments and condominiums. As a result, there is a greater need for compact and space-saving kitchen appliances that maximize the efficient use of limited kitchen areas. These aspects will boost the market growth in the coming years.
The US market dominated the North America Kitchen Appliances Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $77,983.5 Million by 2030. The Canada market is registering a CAGR of 7.8% during (2023 - 2030). Additionally, The Mexico market would showcase a CAGR of 6.8% during (2023 - 2030).
Based on Product Structure, the market is segmented into Free Stand, and Built-in. Based on Fuel Type, the market is segmented into Electric, Cooking Gas, and Others. Based on User Application, the market is segmented into Household, and Commercial. Based on Product Type, the market is segmented into Refrigerator, Cooking Appliances, Dishwasher, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Kitchen Appliances Market is Predict to reach $336.1 Billion by 2030, at a CAGR of 6.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Whirlpool Corporation, AB Electrolux, Haier Smart Home Co., Ltd. (Haier Group Corporation), Robert Bosch GmbH, Samsung Electronics Co., Ltd. (Samsung Group), Koninklijke Philips N.V., Panasonic Holdings Corporation, Morphy Richards (Guangdong Xinbao Electrical Appliances Holdings Co., Ltd), LG Electronics, Inc. (LG Corporation) and Illinois Tool Works, Inc.
By Product Structure (Volume, Thousand Units, USD Billion/Million, 2019-2030)
By Fuel Type (Volume, Thousand Units, USD Billion/Million, 2019-2030)
By User Application (Volume, Thousand Units, USD Billion/Million, 2019-2030)
By Product Type (Volume, Thousand Units, USD Billion/Million, 2019-2030)
By Country (Volume, Thousand Units, USD Billion/Million, 2019-2030)
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