Global Kitchen Appliances Market to Reach $170.8 Billion by 2018

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Kitchen AppliancesKitchens are usually the star attraction of a home. People design after meticulous discussions and spend the majority of the time in setting up their perfect kitchen. But it’s not only the lighting, furniture or cabinets that add to the charm, its kitchen appliances that give a finishing touch. Kitchen appliances, these appliances are either electrical or mechanical which accomplishes daily chores like cooking, washing, cleaning. Not only does it add a charm to the kitchen but it also makes life simpler for people. There were fewer appliances earlier, but with technology improving every day new and better appliances are also coming in the market.

Most of the appliances available today has been there for centuries and were used for generations by people. But they were made up of natural resources like mud, clay or wood. It was only in the 12th century that electrical machines were introduced and since then there’s no looking back. Some of the most widely used appliances are oven, stove, refrigerator, washing machine, dishwasher and many more. The markets for luxury kitchen appliances are also on the rise. People are moving away from traditional appliances and experimenting with better and luxurious products.

The kitchen appliance market is in demand as some of the products are necessary for daily use. A market research report predicts that the global kitchen appliances are to reach $170.8 billion in the coming 5 years and at a compound annual growth rate (CAGR) of 4% by 2018.

The kitchen appliance industry is evolving and getting better day by day. With the rampant use of technology in this market, it is guaranteed that this industry will flourish.