Industry Background:
Modular is a word that is very well-used these days. The word ‘Modular’ means such a layout that can be broken into a different set of ‘modules’ that can be easily repeated, copied, or set up. A modular kitchen has its own benefit over the traditional kitchens. These types of kitchen increase space management, efficiency, storage, usability and also give the kitchen an artistic view. Modular kitchens are very easy to keep up with, remodel, install, or repurpose. The best part about modular kitchens is that they are designed by the personal needs and requirements, which makes these functions integrated with the layout selected. Hence modular kitchens are a much smarter and efficient option over traditional or conventional kitchens.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Bulthaup (Germany), Grandeur (India), Binova (Italy), Godrej Interio (India), BENTWOOD LUXURY KITCHENS (United States), COPENHAGEN JOINERY (Denmark), KÜCHE+CUCINA (United States), NOBILIA KITCHENS (Germany), SCHIFFINI (Italy) and Hacker Kitchen (Germany) |
According to AMA, the market for Modular Kitchen is expected to register a CAGR of 6.3% during the forecast period to 2030. This growth is primarily driven by Growing awareness about Modular Kitchens and Increase in the spending on commercials regarding practical, manageable, stylish and technical kitchen spaces.
Globally, a noticeable market trend is evident The Rise in Disposable Income
Major Vendors, such as Bulthaup (Germany), Grandeur (India), Binova (Italy), Godrej Interio (India), BENTWOOD LUXURY KITCHENS (United States), COPENHAGEN JOINERY (Denmark), KÜCHE+CUCINA (United States), NOBILIA KITCHENS (Germany), SCHIFFINI (Italy) and Hacker Kitchen (Germany), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are exploring new geographies and industries through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Developments in the Market:
In November 2022, Ultrafresh Modular Solutions, which is a subsidiary of TTK Prestige, launched its studio in Tiruppur. Spread across around 1,200 sq. ft, it will be the eighth studio of Ultrafresh, providing a range of modular kitchens, wardrobes, and display units under the company’s ‘One-Stop-Shop’ format.
In February 2023, Wurfel, an Indian brand that deals with premium modular kitchen models dealing in European products, announced the inauguration of its new studio in the Kokapet region of Hyderabad. The new units are expected to provide the visitors with a new and immersive experience and include tower units, wall cabinets, and base cabinets
Influencing Trend:
The Rise in Disposable Income and Increase in the Trend of Having the Kitchen Space to a Minimum and Also Maintaining Optimum Efficiency
Market Growth Drivers:
Growing awareness about Modular Kitchens and Increase in the spending on commercials regarding practical, manageable, stylish and technical kitchen spaces
Challenges:
The Fluctuating Costs of Raw Materials And Labours and Ventilation, Electric Fixtures and Safety Concerns While Installation of Modular Kitchen
Restraints:
High Costs, High Maintenance, and Delicacy Regarding the Modular Kitchens.
Opportunities:
The Rapid Expansion of the Construction Sector and Growing Global Smart City Initiatives Attracting Huge Technology Investments
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Modular Kitchen Market
- Analysis about New Entrants in Modular Kitchen Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Modular Kitchen Study Sheds Light on
The Modular Kitchen Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Modular Kitchen industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Modular Kitchen industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.