GCC Modular Kitchen Market is Expected to Experience a strong Growth during the Forecast Period
by William Smith Market Research News
The latest report by IMARC Group, entitled “GCC Modular Kitchen Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the GCC modular kitchen market reached a value of US$ X Million in 2017. At present, the GCC region has been observing rising levels of economic growth and sedentary lifestyles. Additionally, burgeoning population, urbanisation and westernization have led to a strong growth in the housing sector, resulting in the soaring demand for modular kitchens in the region. Moreover, on account of long and hectic work routines, most of the people living in the GCC region prefer time-saving and convenient housing solutions like modular kitchens as they make everyday kitchen chores easy owing to their convenience, flexibility as well as functionality. Modular kitchens are designed using a range of fixtures and factory-made cabinet modules in order to facilitate effective usage of the kitchen space. They primarily consist of countertop, chimney, wash-basins, dishwashers, cooking stoves, ovens and microwaves.
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The countries in the GCC region are currently witnessing inflating real estate prices and overcapacity. Despite this, there is a strong demand for residential buildings which is giving a rise to the construction of apartment buildings as they are compact in sizes, thereby burgeoning the demand for modular kitchens in the region. Apart from this, modular kitchens are available in a wide variety of designs which can be customised as per the requirements of the consumers. They can easily colour coordinate their kitchens based on the house décor within the limits of their budget. Moreover, modular kitchen can be assembled as well as dismantled easily as majority of its parts are prefabricated in factories. It also caters the facility of changing a single unit in case of a damage instead of replacing the entire system. Further, cleaning as well as maintaining a modular kitchen takes relatively less time and effort. As a result of the aforementioned forces, the market value is projected to exceed US$ X Million by 2023, expanding at a CAGR of X% during 2018-2023.
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Market Breakup by Product Type;
Based on product type, the market has been segmented into floor cabinet, wall cabinet and tall storage. Presently, floor cabinet accounts for the dominant share in the market.
Market Breakup by Design:
On the basis of design, the GCC modular kitchen market has been segregated into L-shape, U-shape, parallel, straight, island and peninsula.
Market Breakup by Material Used:
Based on material used, lacquer wood represents the leading segment which is followed by high pressure laminates, wood veneers, melamine and metal.
Market Breakup by Distribution Channel:
On the basis of distribution channel, the market has been bifurcated into online and offline. Amongst these, offline exhibits a clear dominance in the market, holding the largest market share.
Market Breakup by Region:
The market is also classified on the basis of region and Saudi Arabia represents the leading market, accounting for the majority of the total share. Saudi Arabia is followed by UAE, Qatar, Kuwait, Bahrain and Oman.
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Created on Jul 2nd 2019 02:36. Viewed 214 times.