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The Global Kitchen Chimney Market size is expected to reach $24.6 billion by 2030, rising at a market growth of 5.3% CAGR during the forecast period

ReportLinker
ReportLinker

In the Asia Pacific region, the number of residential housing projects has rapidly expanded. Therefore, the Asia Pacific region is expected to capture more than 30% share of the market by 2030.

New York, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Kitchen Chimney Market Size, Share & Industry Trends Analysis Report By Duct Type, By Product Type, By Application, By Distribution Channel, By Regional Outlook and Forecast, 2023 - 2030" - https://www.reportlinker.com/p06487939/?utm_source=GNW
Kitchen chimneys offer an efficient option for controlling smoke, smells, and pollutants in smaller kitchens as urban dwellings become smaller. In nations like China and India, the middle-class population is growing, which has increased disposable income. Modern kitchen appliances, such as kitchen chimneys are becoming increasingly popular as a result which enhances the overall kitchen experience. Some of the factors impacting the market are growing usage of smart home appliances, increase in consumer spending and disposable income, and high cost and maintenance expenses.

Smart home appliances use cutting-edge technologies like touchless technology, integrated smart home technology, artificial intelligence (AI), and the Internet of Things (IoT). IoT is widely used in kitchen chimneys, enabling users to control them using an app. Consumers can schedule service registrations, receive periodic alerts, set timer schedules, and clean auto schedules, which adds convenience. Advanced algorithms, technology, and sensors are combined to create smart appliances, which allow users to manage and utilize appliances anywhere. Many products include cutting-edge functions, including ceiling fans, heaters, water and air purifiers, and IoT-enabled kitchen chimneys. As a result, the need for kitchen chimney will grow as a result of the rising smart home appliances. These chimneys are sold because of things like high consumer expenditure, rising per capita income, and changing customer demands. Growing populations with greater purchasing power in developing nations have encouraged a variety of lifestyle changes that are fuelling the market’s expansion. During the festival season, it is predicted that sales of appliances in the wall-mounted segment would increase. As a result of the growing consumer spending & disposable income, the market is estimated to grow.

However, logistics plays a significant role in the rising costs of home and culinary appliances due to supply chain disruptions and the high cost of commodities like crude oil. This led to an increase in the price of home appliances. Chimney repair is hazardous and will likely require the assistance of a professional. Higher labor costs may result from this, mainly when fixing chimneys that are difficult to access. The market growth may hamper by the frequent unexpected repairs that many users of household appliances experience.

Duct Type Outlook

Based into duct type, the market is bifurcated into ducted and ductless. The ductless segment acquired a substantial revenue share in the market in 2022. When there is no suitable ventilation system within the kitchen for the installation of the duct, ductless chimneys are a fantastic alternative. It is also fantastic for those who move frequently and can’t afford duct installation each time. Additionally, ductless chimneys are noisier than ducted chimneys and thus are being preferred more.

Application Outlook

On the basis of application, the market is segmented into residential and commercial. In 2022, the residential segment dominated the market with maximum revenue share. Due to the growing acceptance of modular kitchens and the rise of nuclear families globally, the residential segment currently accounts for a sizeable portion of the market. Residential consumers’ demand for chimneys will also be boosted by rising disposable income and the expansion of e-commerce platforms. Due to the demand to keep their smart homes clean, this factor has further increased demand for kitchen chimneys, spurring market expansion.

Product Type Outlook

By product type, the market is categorized into wall-mounted chimney, built-in chimney, island chimney, corner chimney, and others. The corner chimney segment covered a considerable revenue share in the market in 2022. Corner chimneys are made to fit perfectly into kitchen corners, utilizing otherwise space. This is especially advantageous for smaller kitchens or those with limited wall space. The demand for space-saving solutions may increase as urban living spaces get smaller, which could increase interest in corner chimneys.

Distribution Channel Outlook

By distribution channel, the market is fragmented into online and offline. In 2022, the offline segment registered the maximum revenue share in the market. This is due to the wide variety of items offered in a single store, such as in hypermarkets and supermarkets, offline stores have a sizable market share. Furthermore, coupons and discounts on bulk product purchases encourage consumers to purchase numerous items. Due to the rising popularity of e-commerce and online purchasing, the segment of online stores will experience significant growth. Consumers are attracted to several online retailers because they offer convenient home delivery.

Regional Outlook

Region wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region led the market by generating the highest revenue share. The U.S. home improvement market expansion will also support the regional market expansion. Additionally, manufacturers are concentrating on widening their distribution channel in the North American market, which will support the regional market’s growth. The significance of indoor air quality and its effects on health are becoming more widely recognized in North America. The demand for kitchen chimneys which efficiently remove smoke, odors, and pollutants from the kitchen, is growing as consumers become more health conscious.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Elica S.p.A. (FAN S.A.), Faber S.p.A. (Franke Holding AG), Samsung Electronics Co., Ltd. (Samsung Group), Whirlpool Corporation, Panasonic Holdings Corporation, LG Electronics, Inc. (LG Corporation), Vent-A-Hood Co., LTD, Robert Bosch GmbH (BSH Home Appliances Corporation), Viking Range LLC (The Middleby Corporation), Miele & Cie. KG

Scope of the Study

Market Segments covered in the Report:

By Duct Type

• Ducted

• Ductless

By Product Type

• Wall-mounted Chimney

• Built-In Chimney

• Island Chimney

• Corner Chimney

• Others

By Application

• Residential

• Commercial

By Distribution Channel

• Offline

• Online

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Elica S.p.A. (FAN S.A.)

• Faber S.p.A. (Franke Holding AG)

• Samsung Electronics Co., Ltd. (Samsung Group)

• Whirlpool Corporation

• Panasonic Holdings Corporation,

• LG Electronics, Inc. (LG Corporation)

• Vent-A-Hood Co., LTD

• Robert Bosch GmbH (BSH Home Appliances Corporation)

• Viking Range LLC (The Middleby Corporation)

• Miele & Cie. KG

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06487939/?utm_source=GNW

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