The South Korea kitchen appliances market is anticipated to grow with a significant CAGR of 6.2% during the forecast period (2020-2026). High disposable income, high brand awareness, and significant adoption of smart appliances are some of the major factors augmenting the market growth in the country. A large share of the market is covered by domestic companies that are Samsung Electronics Co. Ltd., and LG Electronics Inc. Both offers a wide range of product offering and regularly launch new product ranges in order to maintain the market share.
Request a Free Sample of our South Korea Kitchen Appliance Market: https://www.omrglobal.com/request-sample/south-korea-kitchen-appliances-market
For instance, in October 2020, LG introduced a new home appliance line LG Objet Collection in Seoul with enhanced customization options. LG Objet Collection allows a buyer to select their colors and materials for home appliances with which synchronization can be made with the interior design of a place. Initially, the company is offering 11 products under the LG Objet Collection brand which include refrigerators, a dishwasher, a light wave oven, a washer-dryer combo, and a clothing refresher, and the lineup is expected to expand in the future. A customer can select 13 colors with 145 design combinations for a three-door bottom-freezer refrigerator. Moreover, lightwave oven, water purifier, and dishwasher are compatible with each other through the company’s IoT platform, LG ThinQ. In the same month, the company has gone into a deal with Italian luxury furniture maker Molteni&C S.P.A. For the next three years, both the companies will be involved in marketing, and product development related to LG Signature home appliances, Molteni&C residential furniture, and Dada kitchen furniture.
A full Report of South Korea Kitchen Appliance Market is Available at: https://www.omrglobal.com/industry-reports/south-korea-kitchen-appliances-market
• The market number available for – 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered-
o By Product Type
o By Application
o By Distribution Channel
• Competitive Landscape- LG Electronics Inc., Samsung Electronics Co. Ltd., WINIA Electronics Co., Ltd., Whirlpool Corp., Panasonic Corp., Haier Group Corp.
Key questions addressed by the report
• What is the market growth rate?
• Which segment dominates the market in the base year?
• Which segment will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
South Korea Kitchen Appliances Market Report Segment
By Product Type
• Mixer & Juicer and Food Processors
• Stove & Hobs
• Water Purifier
• Coffee Machines
By Distribution Channel
• Online Channel
• Offline Channel
• Carrier Corp.
• Koninklijke Philips N.V.
• Haier Group Corp.
• Hitachi, Ltd.
• LG Electronics Inc.
• Panasonic Corp.
• Sichuan Changhong Electric Co., Ltd.
• Samsung Electronics Co., Ltd.
• Whirlpool Corp.
• WINIA Electronics Co., Ltd.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/south-korea-kitchen-appliances-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
For More Information, Visit Orion Market Research
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: [email protected]
Contact no: +91 7803040404