Summary: According to the Market Search Report, the stainless steel cabinet in kitchen market will generate $2.9 billion in the year 2020 and project to reach $5.1 billion by 2030. In the COVID-19 crisis, the global kitchen cabinet market is estimated at US$15.6 billion in 2020 and is expected to reach a revised size of US$22.5 billion by 2027. It will be growing at a CAGR of 5.4% over the analysis period 2020-2027. The Chinese home appliance market also expected to have a retail sales capacity of RMB 295.1 billion in 2022 for the living room scenario, up 0.5% year on year.And so RMB 303.3 billion for the kitchen scenario, up 2.3% year on year. The small kitchen, which contains a 100 billion dollar market, is becoming a gladiatorial arena for all forces.
Custom home, integrated home appliance giants to cross the layout of the kitchen scene. Professional kitchen and electrical enterprises reverse cross-border. When the traditional kitchen market growth is approaching the ceiling. So the business tentacles extended to the cabinet seeking new growth points.
Stainless steel cabinet design
And in the kitchen scene of the wrestling process. The integrated stove, dishwasher, and stainless steel cabinets gradually become the “new favorite” momentum. Recently, “kitchen new observation” in the process of visiting that many integrated cooker enterprises. In the Zhejiang region have been on the stainless steel cabinet project.
So, what is the layout of stainless steel cabinets at the moment? Their stainless steel cabinet project to what extent? Stainless steel cabinets can become the next bucket of gold in the kitchen industry?
01
The stainless steel cabinets track is hot. It is ushering in a host of entrants
The type of companies entering the stainless steel cabinet market. And Casa Custom launch the concept of “integrated kitchen + high-definition Kitchen” exploring the integration of stainless steel kitchen cabinets for home.From the perspective of building a whole kitchen ecology.
As a new growth point for kitchen appliances, the first entrant has made specific achievements with its first-mover advantage. And deep brand accumulation, while the specific scale of operation of the new entrant is not yet known, but the layout around the integration of stainless steel cabinets in kitchen is very firm.
02
Stainless steel cabinets can become the next bucket of gold in kitchen appliances?
Stainless steel cabinets are not new. As early as 2008, in Italy, Germany were popular with stainless steel production of high-end cabinets. And in Japan, the use of stainless steel cabinets is up to 80% of the family. The European royal estate in the kitchen is also the main use of stainless steel cabinets.
Later, in Guangdong, Fujian, Zhejiang, and other home furnishing enterprises gathered place. So the stainless steel production process and equipment were introduced into the country. At first, because of the single color, immature technology, expensive, and other factors constraints. Then the market heat did not gradually go up.
In recent years, in the consumer upgrading and market environment changes, stainless steel cabinets again set off a new boom.
On the one hand, along with the increasing scarcity of global wood resources, in line with the recycling, health and environmental protection of the national development direction of stainless steel cabinets in kitchen are highly favored. It is understood that the National Health Commission in the commercial kitchen issued a health license. And the emphasis on the kitchen and food contact must use stainless steel material.
On the other hand, with consumer health awareness and consumer awareness to enhance> Because people for wood cabinets formaldehyde exceed the standard question, and in the major enterprises under the market education. But stainless steel cabinets without formaldehyde, fire, and moisture, durable, good care and other advantages of cognitive more in-depth. So stainless steel market gradually “hot” up. This is also, the force of the layout of the stainless steel cabinet track is the reason.
Relevant data show that in recent years, with stainless steel cabinets’ annual growth rate of more than 30%, there are more than 38% of consumers said the next 3-5 years will choose to buy and install stainless steel cabinets. In the next five years, China’s stainless steel cabinets total demand of at least 29 million sets, an average of 5.8 million per year.
The market potential of stainless steel cabinets can be full of imagination, but according to relevant statistics, its penetration rate of only 2%. Such data, and dishwasher comparable. So, “big space, small market” of stainless steel cabinets if you want to break out, become the next bucket of gold in the kitchen industry.
First of all, the high price is destined to serve only a niche high-end group. As we all know, compared to solid wood cabinets, stainless steel cabinets’ production costs and market selling prices are on the high side. If you can not through the scale effect, reduce the marginal cost, it is difficult to do the market cake. Of course, the scale and cost complement each other. So how to find a balance in the dynamic, and the need to measure and develop strategies.
Happily, the layout of stainless steel cabinets confirms that the track is promising. It reported that now stainless steel cabinet enterprises compound annual growth rate of more than 45%. With the standardization of production can solve capacity issues . And stainless steel cabinet products prices will follow the decline.
Stainless steel cabinet design
Secondly, the current stainless steel cabinet manufacturing enterprises’ production method is relatively primitive, with high labor costs, production process standards to be further improved, and efficiency to be further enhanced. It is worth mentioning here that the Casa Custom GN9358 electrical investment in the creation of the favorable relying on 5G, AIOT and other intelligent interaction. Big data in the kitchen field of technology platform development. And the basic realization of stainless steel kitchen cabinets for home efficient. Also flexible production and digital management like the whole home smart system.
Conclusion
From the point of view of market potential, stainless steel cabinets are qualified to call the next bucket of gold in the kitchen appliance industry. However, from the current state of industrial development and consumer awareness, Casa Custom recommends “still need time to have awareness”.
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