The Global Range Hood Market to Generate Revenues of Over $82 Billion During the Period 2020−2025 - Market Research by Arizton

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Feb 13, 2020, 10:00 ET

CHICAGO, Feb. 13, 2020 /PRNewswire/ -- According to Arizton's recent research report, Range Hood Market - Global Outlook and Forecast 2020-2025 is expected to grow at a CAGR of around 7% during the period 2019−2025.

Key Highlights Offered in the Report:

Integrated range hoods was the largest segment in 2019 owing to the lack of kitchen space in most of the households in APAC and Latin America which is expected to grow at a CAGR of around 5% by 2025.
The ducted chimneys are preferred over ductless due to the increased exhausting feature which is expected to post an incremental sale of over 50 million units during the forecast period.
The range hoods with medium suction power is expected to remain as the dominant segment as it is suited for kitchens in countries like India. They are also preferred in commercial kitchens for the powerful suction capacity which is expected to grow at a CAGR of around 5% by 2025.
The residential application is expected to account for more than 50% of the total unit shipments by 2025.
The rise in number of modular kitchens and the stringent government regulations in hotels and QSR's have enabled the surge in adoption of range hoods in the past decade.
APAC is expected to grow at the fastest CAGR of over 8% during the forecast period.

Key Offerings:

Market Size & Forecast by Revenue | 2019−2025
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by installation, application, suction capacities, ventilation, distribution, and geography
Competitive Landscape – Profile of 5 key vendors and 42 other vendors

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Range Hood Market – Segmentation

Integrated range hood appliances are the most commonly preferred types to manage space in the kitchen area. The increasing application of integrated range ducts in both commercial and residential sectors is increasing the scope for market growth as ductless appliances are not efficient in terms of performance.
Efficient duct range hood appliances dominate the market as they are mostly preferred for both commercial and residential purposes. The scenario is expected to sustain during the forecast period, and the momentum for duct appliances is growing.
Range hood appliances with high suction power are the second-largest segment, which is expected to generate a sale of over 60 million units by 2025. The application of these hoods is likely to be high in commercial kitchens. The growth in hotels and quick service restaurants (QSR) and the rise in food trucks are expected to influence the North American market.

Market Segmentation by Installation

Integrated
Wall-mounted
Island
Downdraft

Market Segmentation by Ventilation

Duct
Ductless

Market Segmentation by Suction Capacities

Low
Moderate
High

Market Segmentation by Application

Commercial
Residential

Market Segmentation by Distribution

Offline
Online

Range Hood Market – Dynamics

The world is witnessing a surge in the number of Quick Service Restaurants (QSRs) owing to the busy life schedule of the working citizens. They are gaining momentum due to their quick deliveries and competitive pricing that attracts most of the consumers. It has huge growth potential in countries like India and China where there is a rising preference for fast foods. The US accounted for the largest QSR chains with a greater number of outlets in the country. It was followed by the Western European countries, especially France, Spain, and Portugal, where the QSR restaurants are expected to grow during the forecast period. This will drive the demand for commercial kitchen equipment and positively impact the growth of the global range hood market.

Key Drivers and Trends fueling Market Growth:

Rise in Number of Modular Kitchens
Growth in Health Awareness & Benefits of Range Hoods
Growth of IoT in Kitchen Appliances
Energy-efficient Smart Appliances

Range Hood Market – Geography

The APAC region is expected to surpass North America in 2025. Along with the presence of key markets, which include China, Japan, India, South Korea, and Australia, the market in Malaysia, Singapore, Indonesia has a high scope for development during the forecast period. With an expected CAGR of over 9% during the period 2018–2022 in the restaurant and food industry, the Indian market for commercial range hoods is expected to emerge as the major market during the forecast period. Further, the completion of several housing schemes and the growth in the tourism sector in Malaysia and Singapore are fueling the growth. The APAC foodservice industry accounts for approximately 40% share of the global market. The expansion of quick-service restaurants and mobile food trucks, a surge in travel and tourism, and the growth of the hospitality and food industries are propelling the growth of the foodservice market in the APAC region. The rapidly growing number of restaurants in APAC is driving the kitchen equipment market in the region.

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Market Segmentation by Geography

Europe

UK
France
Spain
Italy
Germany

APAC

China
Japan
South Korea
Australia
India

Latin America

Brazil
Mexico

North America

US
Canada

MEA

South Africa
Saudi Arabia
UAE

Major Vendors

Elica
Vent-A-Hood
BROAN
Haier
Midea

Other vendors include - SMEG, Faber, VATTI, Fagor, Carysil, Sunflame, IFB, Glen, Kutchina, Pigeon, Prestige, KAFF, BrightFlame, Cosmo, Firebird, AKDY, EKON, Winflo, Zuhne, Hindware, Prima, Eden, Elba, Eurodomo, Pureflames, Maytag, Amana, Miele, Thermador, Zephyr, Wolf, Viking, BSH, GE, KitchenAid, Cata, Panasonic, Samsung, Electrolux, Siemens, Novy.

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About Arizton:

Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

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SOURCE Arizton Advisory & Intelligence