Automated Fare Collection System Market will reach $12.9 million by 2 kitchen Appliances Market Forecast and Industry An | Page 4

Refrigerators contributed over 40% of the overall kitchen
appliances market share in 2016
The refrigerator segment is supposed to dominate the overall kitchen
appliances market throughout the forecast period of 2017-2024 having
the highest CAGR of 6.5%. The need to conserve edible items in different
temperatures is the key driver of this segment. Environmental concerns
regarding rising pollution and global warming have led to the
development of refrigerators that are energy efficient. Technological
advancements in accordance to this trend may help manufacturers garner
huge gains over the forecast timeline.