"Modular Kitchen Market in India 2015-2019" now available at Fast Market Research

Fast Market Research announces the availability of Technavio's new report "Modular Kitchen Market in India 2015-2019" on their comprehensive research portal.

A modular kitchen comprises a range of fixtures and cabinets put together in a planned manner to facilitate effective usage of kitchen space. A modular kitchen normally consists of wooden cabinets; countertops; internal accessories such as built-in covered baskets; and household and kitchen appliances such as a washbasins, dishwashers, chimneys, cooking range/stoves, and microwave ovens. It is custom designed, and customers can choose from a variety of options, features, colors, and patterns.

Technavio's analysts forecast the modular kitchen market in India to grow at a CAGR of 51.87% over the period 2014-2019.

Get More Details on this Report and a Full Table of Contents at Modular Kitchen Market in India 2015-2019

The report analyst commented, "With a rise in the number of new vendors entering the modular kitchen market in India, there has been a significant rise in the number of joint ventures. The foreign vendors entering the market are engaging in tie-ups and joint ventures with domestic players for assistance in the sales and distribution of their products. For instance, Fisher & Paykel Appliances, a New Zealand-based high-end kitchen appliances brand, entered the market in India by entering into a partnership with Shivam Industrial as its retail distributor. Similarly, H&R Johnson India entered into a tie-up with German company Nobilia in 2013. H&R Johnson is now providing modular kitchens designed by Nobilia, which has been offering modular kitchens since 1945. Joint venture operations and strategic tie-ups help foreign companies to expand their manufacturing and distribution bases in India and also provide domestic players with access to advanced technologies."

According to the report, the total annual disposable income in India has increased from $1.55 trillion in 2012 to $1.65 trillion in 2014. This increase in disposable income is an indicator of the improving lifestyle of an average Indian household. As a result, the buying power of customers has increased, and customers are willing to spend more in the quest for a better lifestyle. This is leading to the growth of the modular kitchen market in India.

Further, the report states that high prices of branded modular kitchens leads to the growth of the unorganized segment of the market and inhibits the growth of the organized segment.

The key players in the Modular Kitchen Market in India are Godrej and Boyce, IFB Industries, Oren Kitchen Appliances and Sleek International while other prominent vendors include Häcker Küchen, Hindware Home Retail, Poggenpohl, Scavolini Kitchen Designs and Zuari Furniture

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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