Increasing residential sector to accelerate modular kitchen market

SEATTLE, WA, US, January 3, 2022 /EINPresswire.com/ -- Increasing residential sector to accelerate modular kitchen market , Modular kitchens are a contemporary kitchen layout that consists of tall units with cabinets to organise the kitchen's accessories. The modular kitchen is made of a variety of materials, including wood and plastic, among others.

Market Overview:

Modular kitchen are advanced and modern kitchen that consist of organized accessories of kitchen. It offer modern look and convenience of use.

Market Trends:

Storage efficiency in modular kitchens, which includes shelves, cabinets, and drawers, is a major driver that is expected to propel the global modular kitchen market forward.Furthermore, rising disposable income and increased construction activity around the world are expected to aid the global modular kitchen market's expansion. According to data released by the United States Census Bureau and the United States Department of Housing and Urban Development in June 2019, the number of newly completed residential buildings in the United States increased from around 900 thousand units in May 2014 to 1,200 thousand units in May 2019.Furthermore, according to the United States Department of Housing and Urban Development, the total number of new residential housing completions in the United States was 1,213,000 in May 2019, with 1,294,000 building permits issued. Increased construction activity is expected to increase demand for modular kitchens around the world.

Competitive Landscape:

Häfele, Hackers Kitchens GmbH & Co. KG, Nobia AB, LINEADECOR, Snaidero Rino Spa Bulthaup GmbH & Co KG, Boston Cabinets, Inc., Pedini, and SieMatic Möbelwerke GmbH & Co. KG.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐚𝐧𝐝 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐟 𝟑𝟎% : https://www.coherentmarketinsights.com/insight/buy-now/3505

Key Market Drivers:

Rise in construction activities and increasing disposable income of consumer is driving growth of the modular kitchen market. According to the fourth quarter 2020 Global Construction Survey, The construction industry in the U.S. is expected to grow by 15.6% to reach $1.4 million in 2021. The U.S. construction output is expected to reach $1.1 million by 2025.

Expanding retail sector is another factor fostering growth of the market. Offline retail industry offer wide variety of modular kitchen layout options available at one place.

Covid-19 Impact Analysis

The Covid-19 outbreak has had an adverse impact on various industries around the globe. Due to the strict rules and regulations undertaken by government to curb the spread of the infection, companies are looking to function remotely. Moreover, various companies are looking to implement strict measures to operate at minimum risks. Additionally, various companies had shutdowns their manufacturing units which had an adverse impact on modular kitchen market.

Market Taxonomy:

On the basis of product type, the global modular kitchen market is segmented into:

Wall Cabinet
Floor Cabinet
Tall Storage

On the basis of design, the global modular kitchen market is segmented into:

L-shape
U-shape
Parallel
Straight
Island

On the basis of raw material, the global modular kitchen market is segmented into:

Wood
Metal
Others (Plastic and Others)

On the basis of distribution channels, the global modular kitchen market is segmented into:

Online Channel
Offline Channel

Key Takeaways:

The modular kitchen market is expected to exhibit a CAGR of over the forecast period owing to the rapid urbanization around the globe. According to the United Nation, in 2018, 55% of the world’s population lives in urban areas, a proportion that is expected to increase to 68% by 2050.

Asia Pacific is expected to witness significant growth over the forecast period owing to the increasing technological advancement. For instance, in August 2019, Ultrafresh India unveiled its new category of modular steel kitchens — the Magnum Series, whose vintage feel gives a completely different dimension to the kitchen.

Request a Sample Copy of this Report @ https://www.coherentmarketinsights.com/insight/request-sample/3505

𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐬𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐛𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐨𝐟 𝐮𝐬𝐢𝐧𝐠 𝐨𝐮𝐫 𝐫𝐞𝐩𝐨𝐫𝐭?

» Innovations in Technology

» Report in Depth

» Scenarios from the Past and the Present

» Opportunities in the Market

» Extensive Product Line

» Strong Industry Concentration

» Dynamics of Growth

» Research Methodology for Value Chain Analysis that is Reliable

Finally, the report includes a growth strategy for the industry, a data source, research findings, an appendix, and a conclusion. To deconstruct the market, the report looks at the manufacturing process, market competitors, seller and merchant classification, innovation implementation, and business growth strategies. Customers' concerns about future plans and actions to compete with other market participants will be alleviated by all of these details. The latest market gains are also displayed.

Key Reasons to Purchase the Modular Kitchen Market Report :

➸The report is chock-full of data, including market dynamics and future prospects.
➸ The segments and sub-segments include quantitative, qualitative, value (USD Million), and volume (Units Million) data.
➸ At the regional, sub-regional, and country levels, data on demand and supply forces, as well as their impact on the market, can be found.
➸ The competitive landscape has shifted dramatically in the last three years as a result of new developments, strategies, and market share gains by key players.
➸ Companies that offer a diverse range of products as well as financial data, current events, SWOT analyses, and strategies.

Modular Kitchen Market insights will increase the revenue impact of businesses in a variety of industries:

» Providing a framework for evaluating the appeal of various products/solutions/technologies in the Modular Kitchen Market; assisting stakeholders in identifying key problem areas related to their global Modular Kitchen market consolidation strategies; and providing solutions.

» Investigating the implications of shifting regulatory dynamics in areas where businesses want to expand.

» Assists businesses in making smooth transitions by providing knowledge of disruptive technology trends.

» Assisting leading businesses in recalibrating their strategies to stay ahead of their competitors and peers.

» Key words: market supply-side analysis, as well as insights into promising synergies for top players vying for market leadership.

» Recently conducted market research A Modular Kitchen market survey, which covers 20+ countries and key categories, also provides an outlook.

» Market drivers, trends, and influencing factors, as well as insights and forecasts, are all included in the study.

𝐊𝐞𝐲 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐀𝐝𝐝𝐫𝐞𝐬𝐬𝐞𝐝:

✔ What innovative technology trends should we expect in the next seven years?
✔ Which sub-segment do you think will grow the fastest during the forecast period?
✔ Which region is expected to have the largest market share by 2028?
✔ What organic and inorganic strategies are companies using to increase market share?

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐚𝐧𝐝 𝐠𝐞𝐭 𝐞𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐝𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.coherentmarketinsights.com/insight/buy-now/3505

Mr. Shah
Coherent Market Insights Pvt. Ltd.
+ +1 206-701-6702
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.