About Luxury Kitchen Appliances
Consumers can expect state-of-the-art functionality and cutting-edge design from luxury kitchen appliances. They also have a higher rate of return on investment and last longer. To ensure that their product will last, luxury kitchen appliances utilize better parts and go through more rigorous testing. Customer support for luxury brands will almost certainly be more individualized. Other benefits of high-end appliances include the ability to cook meals faster and the ability to provide a good appearance to the home by providing more unique alternatives.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The demand for Luxury Kitchen Appliances is increasing due to the rise in Consumers Disposable Income. Businesses in this area face fierce rivalry on a global basis from market leaders who control a large share of the market. The Leading Players are engaged in organic and non-organic strategic global expansion to maintain their Market Position. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Luxury Kitchen Appliances market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
La Cornue (France), Whirlpool (United States), Samsung (South Korea), Haier (China), Gaggenau Hausgeräte (Germany), Sub-Zero Freezer Company, Inc. (United States), Dacor (United States), Molteni&C (Italy), Viking Range (United States) and Lacanche (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Tovala (United States), Brava Home (United States) and Innit (United States).
Segmentation Overview
AMA Research has segmented the market of Global Luxury Kitchen Appliances market by Type (Refrigerator, Cooking Appliance, Dishwasher and Others) and Region.
On the basis of geography, the market of Luxury Kitchen Appliances has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Residential will boost the Luxury Kitchen Appliances market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channels, the sub-segment i.e. Online {Company Website, E-Commerce Website} will boost the Luxury Kitchen Appliances market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Popularity of Sous Vide and Kitchen Appliances can now have Built-in Vacuum Sealers
Market Growth Drivers:
Innovative Technology like Wi-Fi and Bluetooth Sync Creates Demand for Luxury Kitchen Appliances and Increase in Disposable Income of Consumers
Challenges:
Luxury Appliances are Very Expensive
Restraints:
Small Kitchen is not Appropriate for Luxury Appliances as it Requires Huge Space
Opportunities:
Increased Demand for Healthy Kitchen Appliances
Market Leaders and their expansionary development strategies
In March 2019 Sub-Zero released a statement announcing the launch of its new product Cove Dishwasher with completes its trifecta of luxury kitchen appliances. Sub-Zero debuted the Cove dishwasher in March at the Architectural Digest Design Show in New York, after six years of intense study and testing. The 24" dishwasher, which will be available to order this month, is unlike any other. The Cove dishwasher is designed to be soundproof, with more than 23 pounds of insulation (much more than most other dishwashers), and it operates quietly (with a noise level of 42dB). In fact, a light shine when it is running because it is difficult to tell if it is on or off because it is so silent.
In April 2019, Sub-Zero, the family-owned Madison, Wisconsin-based company, has introduced a third brand, known as Cove, completing the trifecta of kitchen appliances.
Key Target Audience
Venture and Capitalist, New Entrants/Investors, Analysts and Strategic Business Partners, Hospitality Industry and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.