Modular Kitchen Market Size to Grow by $ 7.88 Billion During 2021-2025
Technavio has been monitoring the modular kitchen market and it is expected to grow by $ 7.88 bn, accelerating at a CAGR of almost 6.33% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Modular Kitchen Market: Europe to lead market growth during the forecast period
- 31% of the market growth will originate from Europe during the forecast period. Germany and the UK are the key markets for the modular kitchen market in Europe.
- Growth by the floor cabinets segment has been significant in recent years and is expected to offer further growth opportunities during the forecast period. The modular kitchen market report provides a comprehensive understanding of the sub-segments of the target market to identify niche customer groups and demographic requirements.
- The High demand for convenient and customized kitchens with a wide design variety will be a significant factor in driving the growth of the modular kitchen market.
Modular Kitchen Market: Key Competitors
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Boston Cabinets Inc., Hacker Kuchen GmbH and Co. KG, Hafele GmbH and Co. KG, Hettich Holding GmbH and Co. oHG, Inter IKEA Holding BV, Nobia AB, nobilia-Werke J. Stickling GmbH and Co. KG, Pedini SPA, SieMatic Mobelwerke GmbH and Co. KG, and Snaidero Rino Spa are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Modular Kitchen Market: Key Highlights of the Report for 2021-2025
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive modular kitchen market growth during the next five years
- Precise estimation of the modular kitchen market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the modular kitchen market industry across Europe, North America, APAC, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of modular kitchen market vendors
The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerate at a CAGR of 6.33%.
- What is the incremental growth of the market?
The market is expected to grow by $ 7.88 bn through 2021-2025.
- What is a key factor driving this market?
High demand for convenient and customized kitchens with a wide design variety will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
Europe, North America, APAC, South America, and MEA are the key regions featured in this research report.
- Which is the leading geographic region for this market:
31% growth will originate from Europe
- Who are the leading market vendors?
The leading vendors in this market are Boston Cabinets Inc., Hacker Kuchen GmbH and Co. KG, Hafele GmbH and Co. KG, Hettich Holding GmbH and Co. oHG, Inter IKEA Holding BV, Nobia AB, nobilia-Werke J. Stickling GmbH and Co. KG, Pedini SPA, SieMatic Mobelwerke GmbH and Co. KG, and Snaidero Rino Spa
- What are the market segments covered in this report?
The market is segmented by Geography (Europe, North America, APAC, South America, and MEA) and Product (Floor cabinets, Wall cabinets, and Tall storage)