Market Size of China Kitchen Appliances Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Kitchen Appliances Market Analysis
The China Kitchen Appliances Market is valued at about USD 151.5 Billion and is expected to register a CAGR of more than 4% during the forecast period.
China has the world's biggest home appliance manufacturing market share of around 60-70% of global manufacturing capacity. In China, the culture revolves around family and communal food experiences, and with rising household incomes and purchasing power, the demand for new kitchen appliances continues to grow.
The Chinese home appliance market is expanding at the fastest pace in the world. More so, advanced technology and low-cost raw materials are driving the home appliance market growth in China. Other factors that are driving the growth of the Chinese home appliance market include rapid urbanization, the increase in disposable income, and the high demand for home appliances in rural China.
TCL Technology Group Corp, a consumer electronics company, announced that it will invest more in the development of smart and automated dismantling platforms. According to the company, it expects to recycle around 7 million household appliances by 2024, an increase of 52% from 2022.
