Range Hood Market to value $25 billion by 2028, Says Global Market Insights Inc.
Major range hood market participants include Faber, Asko Appliances, Broan, Inc., BSH Group, CaptiveAire Systems, Faber S.p.A, Kobe Range Hoods, Miele, Inc., Pacific, Samsung Electronics, Panasonic Corporation, Vent-A-Hood, Viking Range, LLC, Whirlpool Corporation, Windster Hoods, Zephyr Ventilation, Falmec S.p.A., and Fotile Overseas Kitchen Appliance.
SELBYVILLE, Del., May 2, 2022 /PRNewswire/ -- The range hood market is expected to surpass USD 25 billion by 2028, as reported in a research study by Global Market Insights Inc. The positive market outlook can be attributed to the rising demand for modern kitchen appliances and growing consumer awareness regarding product usage. Range hoods play a vital role in removing smoke and airborne grease & odor, keeping the air pure for a longer period in the kitchen.
The range hood market was mildly impacted during the COVID-19 pandemic. The temporary closure of manufacturing facilities and raw material shortages negatively impacted the production process of range hoods. However, the market is witnessing positive growth due to relaxations in lockdowns and rising consumer spending on home renovations.
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The ceiling mount range is anticipated to witness a significant market growth till 2028. It is mounted on & vented through a ductwork on the ceiling. These systems are ideal for larger open kitchens. They have a greater extraction capacity as compared to other types of range hoods and are installed above a cooking ceiling kitchen setup, keeping the kitchen cooler & fresh.
The North America range hood market is expected to grow steadily through 2028 owing to the availability of a variety of hoods for different kitchen set ups. Manufacturers in North America are providing various product ranges & colors to coordinate with modern kitchen interiors and residential or commercial settings. Such product innovations and technical advancements in newer range hoods are supporting the high demand in the U.S. and Canada.
Range hood market participants are focusing on new product launches with advanced features to strengthen their consumer base. For instance, in October 2020, Broan-NuTone, LLC. launched a new collection series of chimney hoods. The company provides three new designer models available in stainless & black stainless steel. Additionally, these new collections are designed to provide better functionalities and the latest features such as bright LED lighting, three speed tap touch controls, and an integrated front panel.
Some of the major findings in the range hood market report include:
- Advantages, such as affordability and compact size, associated with under-cabinet range hoods will drive the market demand for these appliances. The under-cabinet range hood segment holds a high share in the market owing to its penetration in the household segment.
- Consumers are moving toward online purchase options due to high discounts and easy availability across all regions. Additionally, the growing collaborations of manufacturers with e-commerce players are increasing sales, resulting in the range hood market growth.
- Commercial applications in the range hood industry are expected to gain a high share. This can be attributed to the transformation of commercial kitchens & designs that now integrate small and compact ventilation & exhaust systems including hoods to gain maximum space utilization.
- Increasing demand for major household appliances in the UAE and Saudi Arabia is expected to propel the demand for range hoods over the forecast timeframe owing to the high spending capacity of consumers. The rising demand for modern range hoods with sleek & aesthetic designs will support industry growth in the region.
- Prominent players operating in this market include Faber, Asko Appliances, Broan, Inc., BSH Group, CaptiveAire Systems, Faber S.p.A, Kobe Range Hoods, Miele, Inc., Pacific, Samsung Electronics, Panasonic Corporation, Vent-A-Hood, Viking Range, LLC, Whirlpool Corporation, Windster Hoods, Zephyr Ventilation, Falmec S.p.A., and Fotile Overseas Kitchen Appliance.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Range hood industry 3600 synopsis, 2018 - 2028
2.2 Business trends
2.2.1 Regional trends
2.2.2 Product trends
2.2.3 Application trends
2.2.4 Distribution channel trends
Chapter 3 Range Hood Industry Insights
3.1 Introduction
3.2 Impact of COVID-19 outbreak
3.3 Impact of Russia-Ukraine War
3.4 Range hood industry ecosystem analysis
3.5 Technology and innovation landscape
3.6 Regulatory landscape
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.1.1 Increasing numbers of quick service restaurants & food joints across the globe
3.7.1.2 Rising consumer disposable income in North America will support range hoods in residential applications
3.7.1.3 Implementation of stringent government food safety & hygiene regulations in North America & Europe
3.7.1.4 The growing demand for range hoods in modular kitchens in Latin America and Europe
3.7.1.5 Increasing consumer awareness and product popularity in Asian countries
3.7.1.6 Rapid development of residential infrastructures in China, Japan, and Australia
3.7.1.7 Proliferation of the South African kitchen appliances industry
3.7.2 Industry pitfalls and challenges
3.7.2.1 High initial cost of range hoods
3.7.2.2 Limited consumer awareness in small countries
3.7.2.3 Availability of low-cost exhaust systems
3.8 Investment portfolio
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: [email protected]
SOURCE Global Market Insights Inc.
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