The under cabinet segment is likely to still dominate the market, with an expected lower CAGR and a market value of USD 1.2 Billion by the end of the forecasted period.
The transition to more innovative and energy-efficient and technologically upgraded appliances is the major driving force behind the growth of the kitchen hood market in the Europe region. Owing to the ongoing COVID-19 pandemic the market has been under, which restricted the construction of housing and building projects and the lockdown restrictions have limited the new purchases as a result of the uncertainty in the economy.
However, the purchasing power parity is anticipated to bounce back during the forecast period with the changing situations and customers' approach towards the pandemic. The European kitchen hood market is much likely to grow over a growth rate of 4% through the forecasted period.
Europeans who live in cramped, one-bedroom apartments can still enjoy the same accommodations as larger homes. In addition to it, the efficiency that range hoods bring, other European appliances all have an energy efficiency rating label on the box. Since energy costs are higher in Europe, those ratings can make for some serious savings.
European brands mostly market as a combo to gain a better edge in the market in both the channels. The online sales channel is likely to grow with an anticipated growth of 9.53%, while the offline market would be still dominating with a market share of 86%. The presence of a large number of companies who are offering various efficient products that are technically equipped with features such as automatic control, internet connectivity, high energy efficient feature, etc., are driving the demand for kitchen products in the market.
The countries in the region are well known for the technological advancements they develop, which have been pretty evident in the case of the kitchen hood market. Germany & Italy together by the end of the forecasted period is likely to contribute to over a quarter of the regional market, with Germany leading the Europe Kitchen Hood Market.
Italy has a long history and unshakable statuses in this industry, like Elica and Faber though it is a part of FRANKE now, both have the perfect design. As to Germany, the Bosch Group has become a global leader, which has two main brands named Bosch and Siemens, and several special brands, such as Thermador.
The Europe Kitchen appliances market is highly competitive with a high number of key players operating in the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
Electrolux, in the year 2017, announced it has agreed to acquire Best, a European manufacturer of innovative and well-designed kitchen hoods. The acquisition enables Electrolux to develop a fully comprehensive offering of built-in cooking solutions and will further support long-term profitable growth in the region.
This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026.
Key Topics Covered:
1. Executive Summary
2. Report Methodology
3. Global Kitchen Hood Market Outlook
3.1. Market Size by Value
3.2. Market Share
3.2.1. By Product Type
3.2.2. By Sales Channel
3.2.3. By Region
3.2.4. By Country
3.2.5. By Company
4. Europe Kitchen Hood Market Outlook
4.1. Market Size by Value
4.2. Market Share
4.2.1. By Product Type
4.2.2. By Sales Channel
4.2.3. By Country
4.3. Germany Kitchen Hood Market Outlook
4.3.1. Market Size by Value
4.3.2. Market Share by Product Type
4.4. UK Kitchen Hood Market Outlook
4.5. France Kitchen Hood Market Outlook
4.6. Spain Kitchen Hood Market Outlook
4.7. Italy Kitchen Hood Market Outlook
4.8. Russia Kitchen Hood Market Outlook
5. Market Dynamics
5.1. Key Drivers
5.2. Key Challenges
6. Market Trends and Developments
6.1. Artificial Intelligence
6.2. Alarm Feature
6.3. Dishwasher-Safe Baffle Filters
6.4. Environmental Variability
7. Company Profiles
7.1. Asko Appliances
7.2. Broan Inc
7.3. BSH Home Appliances
7.4. Elica S.P.A
7.5. Faber S.P.A
7.6. Falmec S.P.A
8. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/f0hjwx
View source version on businesswire.com: https://www.businesswire.com/news/home/20210728005520/en/
Laura Wood, Senior Press Manager
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