MODULAR KITCHEN MARKET ANALYSIS

Modular Kitchen Market, by Product Type (Wall Cabinet, Floor Cabinet, and Tall Storage), by Design (L-shape, U-shape, Parallel, Straight, and Island), by Raw Material (Wood, Metal, and Others (Plastic and Others)), by Distribution Channels (Online and Offline), and by Region (North America, South America, Europe, Asia Pacific, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022-2028

Market Dynamics:

The efficient storage in case of modular kitchen, which include shelves, cabinets, and drawers is a major driver that is expected to boost growth of the global modular kitchen market.
Moreover, increasing disposable income and increasing construction activities worldwide are other factors that are expected to aid the global modular kitchen market growth. For instance, according to data released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development in June 2019, in the U.S., the number of newly completed residential buildings was around 900 thousand unit in May 2014, which increased to 1,200 thousand unit in May 2019.
Furthermore, according to the U.S. Department of Housing and Urban Development, in May 2019, the total number of new residential housing completions in the U.S. was 1,213,000 and 1,294,000 building permits were sanctioned. Such increasing construction activities are expected to boost demand for modular kitchen market, globally.
However, factors such as high price of modular kitchen layout and volatility of its transportation cost are expected to hamper growth of the global modular kitchen market over the forecast period.