December 24, 2019
According to the research report titled ‘Range Hood Market Size by Product (Under Cabinet, Wall Mount, Ceiling Mount), By Application (Residential, Commercial), By Distribution Channel (Direct Selling, E-commerce, Others), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2026’, available at MarketStudyReport.com, the global range hood market is expected to surpass USD 10 billion by the year 2026.
Global transformation across commercial & residential infrastructure, coupled with growing inclination towards island platform and wall-mounted hoods in kitchens are driving the range hood market growth. Rising consumer preference for modern kitchen is paving the way for development of advanced range hood systems. For instance, integration of LED lighting in range hoods enhance the aesthetic appeal of kitchen while saving energy. Thus, surging adoption of advanced range hoods is aiding the market expansion. Increasing consumer concerns regarding indoor air quality, in tandem with escalating investments for installing range hoods in order to maintain proper ventilation in kitchen is stimulating the industry outlook.
As per product type, ceiling mount range hood market is estimated to register considerable growth, especially in Europe and North America over the forecast period. Such systems are built specifically for modular kitchens where a burner or stove is mounted in the middle of the kitchen, enabling multiple people to cook. They are available in various sizes, shapes, materials, and colors. This factor, in tandem with surging need for saving space in kitchens are contributing towards the popularity of the product.
Based on application spectrum, range hood market from commercial segment is projected to grow substantially, owing to emerging foodservice industry. Rising number of fast food restaurants, especially in Asia-Pacific and North America will fuel the growth of the segment. Moreover, growing inclination towards dining out, in consort with strict federal reforms in North America regarding food safety and hygiene is leading to rising adoption of commercial range hood systems.
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Considering geographical landscape, Canada range hood market is predicted to expand significantly in the upcoming years. The regional growth is attributed to surging need for advanced kitchen equipment such as smart appliances, ventilation & exhaust systems, cooking & refrigeration systems, especially across Vancouver and Toronto. Additionally, increasing consumer awareness, escalating demand for modular kitchens, and high presence of key industry players are augmenting the market trends across the country.
The prominent companies operating in range hood industry are Miele, Inc., KOBE Range Hoods, Fotile Overseas Kitchen Appliances, Falmec S.p.A, Faber S.p.A, Elica S.p.A, CaptiveAire Systems, BSH Group, Broan, Inc., and Asko Appliances among others.
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