The Global Range Hood Market size accounted for US$ 15,698 Mn in 2021 and is expected to reach US$ 26,508 Mn by 2030 with a considerable CAGR of 6.2% during the forecast timeframe of 2022 to 2030.
A range hood is among the most important kitchen appliances since it serves as a filter and removes disruptive, poisonous, and even lethal impurities. It is made up of a canopy or other type of capture area as well as a blower or fan motor to extract cooking-related air pollution. By capturing and eliminating contaminated air at the source, the range hood preserves the purity of the air in the kitchen and makes cleaning much easier. Kitchen range hoods are available in a variety of designs and styles, and they are classified into five basic types or categories. These include island hoods, wall-mounted hoods, under cabinet hoods, range hood inserts, and professional-grade hoods. Economic improvement and increased expendable income are significant elements driving the expansion of the home appliances market, which involves the range hood market.
The major function of the range hood is to improve kitchen indoor air quality. In the kitchen, hoods are used to keep oils, smoke, odors, and other impurities out of the air. A motorized fan draws in dirty air, which is either discharged or cleansed and recirculated. A wall-mounted range hood takes advantage of unused vertical space in modern kitchens. Currently, consumers are spending more money on home construction because there is a demand for long-term preservation and space-saving that optimizes floor usage in small spaces. Also, they are implementing modern range hood technology in smart homes to improve appearances and comfort in existing houses, leading to growth opportunities.
· Growing numbers of quick-service diners & fast-food chains across the globe
· Rising disposable consumer money will promote range hoods in the domestic sector
· Government food safety and hygiene rules are being strictly enforced
· The rising popularity of range hoods in modular kitchens
· High initial costs associated with Range Hoods
· Consumer awareness is low in smaller nations
· Access to low-cost exhaust systems
· Increasing product popularity and consumer awareness
· Rapid residential infrastructure development
|Market||Range Hood Market|
|Market Size 2021||US$ 15,698 Mn|
|Market Forecast 2030||US$ 26,508 Mn|
|CAGR||6.2% During 2022 - 2030|
|Analysis Period||2018 - 2030|
|Forecast Data||2022 - 2030|
|Segments Covered||By Product, By Application, By Distribution Channel, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Asko Appliances, BSH Home Appliances Corp., Broan, Inc., Miele, Inc., Faber S.p.A., Falmec S.p.A., Elica S.p.A., Whirlpool Corp, Samsung Electronics, Panasonic Corp., Fotile Overseas Kitchen Appliances, and CaptiveAire Systems.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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Range Hood Market Dynamics
Consumers are spending more on modular home developments as there is a growing desire for effective storage and space-saving that optimizes floor usage in tiny places. Customers are installing modern range hood solutions in modern kitchens to improve appearances and increase comfort, resulting in tremendous growth opportunities. Throughout the projected years, these factors will drive the overall range hood market size. Nowadays, companies are developing solutions with integrated IoT technology to improve whole-house connectivity, which is fueling the industry. Growing urbanization, as well as increased government efforts to restore aged urban residential buildings, will have an impact on industry statistics. Individual household use of such a product is expected to expand as the global working population grows. The governments of several countries have tight rules governing the sanitation of food-producing industries. Furthermore, such systems have issued an upgrade that includes features like heat reduction, air quality maintenance, and improved safety, which are projected to boost the industry in the next years. Besides that, the emergence of low-cost ventilation solutions is restricting the growth of the range hood industry.
Market Segmentation of Range Hood Market
The global range hood market segmented into product, application, distribution channel, and region.
Market by Product
· Ceiling Mount
· Under Cabinet
· Wall Mount
In terms of product, the wall mount segment held the biggest market share in 2021. A wall mount range hood is a type of kitchen ventilation device. A wall mount range hood makes use of unused vertical space in modern kitchens, which is generally underutilized. This type of design may free up kitchen flooring by eliminating the need for a peninsula or island to support an overhead venting system. Wall mount blowers and fans come in a variety of sizes to meet the ventilation needs of any kitchen. Furthermore, the availability of many models with numerous innovative features, such as Wireless and Wi-Fi networking, is adding to the growth of the industry.
Market by Application
Based on the application, the residential segment is expected to dominate the market in the coming years. Innovative technologies, improved energy efficiency, and reduced space requirements are propelling the residential segment of the range hoods market. Rising disposable incomes and the increasing popularity of energy distributors offering uninterruptible power supply can also be contributed to the segment's increasing demand. Furthermore, rising urbanization in developing economies, as well as an increase in the number of hoteliers and restaurants worldwide, is a crucial factor contributing to the commercial segment's expansion in the coming years.
Market by Distribution Channel
· Direct selling
Based on the distribution channel, the e-commerce category is expected to grow significantly in the market over the next few years. The growing popularity of e-commerce and the use of smart devices such as smartphones and tablets are likely to be significant growth drivers. Furthermore, the advantages offered by online portals, such as convenient payment methods, discounts, and free technical support, will move the segment forward. Additionally, increased internet availability and the use of smartphone devices, laptops, and handsets to access e-commerce sites are fueling the market growth. E-commerce enables firms to execute transactions without visiting the physical presence, lowering communication, infrastructure, and overhead expenses. These are expected to propel the segment in the coming years.
Range Hood Market Regional Overview
· Rest of Europe
· Rest of Latin America
· South Korea
· Rest of Asia-Pacific
Middle East & Africa
· South Africa
· Rest of Middle East & Africa
North America held the highest range hood market share in 2021 and is expected to grow at a moderate CAGR over the projected timeframe. The region's increasing adoption of modern technologies, as well as the resulting demand for interconnected smart devices, is major market drivers, notably in nations such as the United States and Mexico. The North American range hood market is influenced by an increase in disposable income, a reviving economy, household appliances becoming less expensive while other inventions assume higher prices, new incremental improvements surging demand for new appliances, real estate growth, and other factors. Furthermore, working-class individuals prefer specialized kitchen gadgets that cook food faster, making life easier and more efficient. As a result of these reasons, the regional range hood market size is expected to grow.
Some of the prominent players in global range hood market are Asko Appliances, BSH Home Appliances Corp., Broan, Inc., Miele, Inc., Faber S.p.A., Falmec S.p.A., Elica S.p.A., Whirlpool Corp, Samsung Electronics, Panasonic Corp., Fotile Overseas Kitchen Appliances, and CaptiveAire Systems.
The estimated value of global range hood market in 2021 was accounted to be US$ 15,698 Mn.
The projected CAGR of range hood during the analysis period of 2022 to 2030 is 6.2%.
The prominent players of the global range hood market involve Asko Appliances, BSH Home Appliances Corp., Broan, Inc., Miele, Inc., Faber S.p.A., Falmec S.p.A., Elica S.p.A., Whirlpool Corp, Samsung Electronics, Panasonic Corp., Fotile Overseas Kitchen Appliances, and CaptiveAire Systems.
North America held the dominating share for range hood during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for range hood during the analysis period of 2022 to 2030.
Growing numbers of quick-service diners & fast-food chains across the globe and the rising popularity of range hoods in modular kitchens are the prominent factors that fuel the growth of global range hood market.
Based on distribution channel, direct selling segment held the maximum share for range hood market in 2021.