Russia Kitchen Appliances Products Market - By Products, Distribution Channels and Vendors - Market Trends and Forecasts (2015 - 2020)
The Russia market for kitchen appliances was worth US$ X.X bn as of 2014, and is expected to grow to US$ X.X bn by 2020, growing at a CAGR of X.X% over the forecast period. Small appliances are expected to grow at a CAGR of X.X% from US$ X.X bn in 2014 to US$ X.X bn in 2020. Large appliances are worth US$ X.X bn as of 2014, and are expected to grow at CAGR X% to US$ X.X bn in 2020.
Specialty super markets, as well as brick and mortar store prices of small kitchen appliances averaged lower than those online, leading to a drop in distribution through ecommerce, and an increase of purchase via retail stores. However, this trend is expected balance itself with increased discounts and product bundling innovations, as well as tie ups with manufacturers.
The latest trend in home appliances, including kitchen appliances is that of energy efficiency, and connectivity in line with IoT (Internet of Things), wherein most appliances can be remotely controlled, or are equipped with sensors designed to auto manage the appliances. Smart appliances, as they are called, alone are expected to drive this category ahead to achieve higher growth rates. With new and other houses going through refurbishing, kitchen appliances can be chosen to fit the size of the kitchen. The appliances are equipped with frills, or are available without frills across several price ranges.
Some notable companies included in the report are Electrolux, GE, LG Electronics, Samsung, Murphy Richards, Phillips, Bosch, Hamilton, and a range of other regional manufacturers.
High purchasing power, back to basics cooking techniques, incremental innovations making the life of purchasers easier in the kitchen, interest in refurbishing kitchens in the house with appliances before other rooms, a recovering rouble, and some other factors drive this market in Russia.
A weak Rouble, exacerbation of income inequality, high level of competition across all product classes, insufficient innovations in the mass market product range, are some of the challenges being faced in Russia’s kitchen appliances market.
What the report offers
Market Definition for the Kitchen Appliances along with identification of key drivers and restraints for the market Market analysis for the Russia Kitchen Appliances Market, with region specific assessments and competition analysis on a Russia and regional scale Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a Russia and regional scale Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares Identification and analysis of the Macro and Micro factors that affect the Russia Kitchen Appliances Market on both Russia and regional scale A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
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