The modular kitchen market is anticipated to register a CAGR of more than 42% during 2013-2015, says RNCOS.
Noida, UP -- (SBWIRE) -- 05/23/2014 -- The modular kitchen market in India is growing at a rapid rate in the country. The market is expanding as the demand is no longer restricted to the upper middle class, but is gaining popularity among other socio-economic classes also. According to a new report by RNCOS “Indian Housing Sector Forecast to 2015”, the growth in the per capita income of people, coupled with efforts on the part of organized players to offer services at affordable rates, are some of the factors which are providing a boost to the modular kitchen demand in the country.
According to the report, people of every class want to have modular kitchen in their house. However, the preference for price and choice of kitchen appliances vary with the affordability. In lieu of the above trend, most of the new and upcoming housing units nowadays include modular kitchen, as developers are deploying this technology as a tool to attract customers. Further, with emergence of nuclear families, increasing number of housing projects, growth in organized retail and a changing view on home aesthetics, the modular kitchen market is anticipated to witness growth in the coming years also.
The report “Indian Housing Sector Forecast to 2015”, by RNCOS provides an in-depth analysis of the housing market in India. It provides forecasts of housing market potential along with the focus on the demand and market potential for affordable, MIG & HIG and luxury housing segments till 2015. Further, the report covers a detailed analysis and market forecasts of the industry verticals like tiles, electrical switch, flooring, modular kitchen, cement, paint, bathroom fittings, faucets, and furniture. Moreover, consumer & builder’s perspective has also been provided in the report. In addition, the report sheds light on the major trends and challenges affecting the industry, along with a detailed overview of the major players covering business description, strategic analysis and recent developments.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.