The Global Range Hood Market size is expected to reach $17. 6 billion by 2027, rising at a market growth of 8. 3% CAGR during the forecast period. Range hood refers to a cooking appliance that helps in removing excess heat and dirt & dust particles from the kitchen.
New York, May 26, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Range Hood Market By Type, By Distribution Channel, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06075913/?utm_source=GNW
It is mostly attached over the cooktop or a range top to help in performing its task more efficiently. A cooktop is a burner that helps in cooking food over which range hood is installed. Range hoods are mostly used along with fire suppression equipment at commercial kitchens in order to control grease fire. Filtration systems are integrated in most of the range hoods and they help in eliminating grease and various other particles from the exhaust.
Factors like increasing disposable income, growing demand for cleaning appliances for household kitchens and improved infrastructural facilities are supporting the growth of the market. In addition, some of the catalysts for the market growth are rising trend of keeping trendy & elegant looking kitchen along with well managed and cleanliness of kitchen. Moreover, the increasing numbers of quick-service restaurants & food joints coupled with the improvement in technologies have also opened new growth avenues for the range hood market.
COVID 19 Impact
With the outbreak of the Covid-19 pandemic, almost every sector has witnessed certain impacts on its growth. The imposition of lockdown in many countries, ban on travel, restricted production facilities and absence of workforces in several nations has adversely impacted many sectors. However, some sectors like healthcare have been positively affected during the pandemic.
The global range hood market is negatively affected by the ongoing Covid-19 pandemic. Several manufacturers of kitchen appliances like refrigerators, range hood systems and ovens have stopped manufacturing their products due to the strict government rules & regulations. Ban on international trade has resulted in the severe shortage of raw materials needed to make range hoods and chimneys.
Based on Type, the market is segmented into Under Cabinet, Wall Mounted, Ceiling Mount and Other Types. By product, under cabinet hood segment dominated the market in 2020 by obtaining the maximum revenue share. It is due to the easy installation, affordability and compatibility of the under-cabinet hood with various kitchen modules. In addition, the duct helps in transporting the smoke & particles out from the kitchen; however, other ductless range hoods re-circulate the air in the kitchen.
Distribution Channel Outlook
Based on Distribution Channel, the market is segmented into Offline and Online. The online distribution channel is expected to exhibit the highest growth rate during the forecast period. It is due to the factors like the increasing popularity of e-commerce and the utilization of smart gadgets like smartphones and tablets. In addition, several advantages provided by online platforms like easy payment options, discounts and free installation services will further accelerate the growth of the segment.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia-Pacific is anticipated to become the fastest-growing regional market with a significant growth rate during the forecast years. It is due to the factors like rising disposable income of the people and huge demand for the product owing to high awareness about the benefits of the product. In addition, the growing requirement for convenient cleaning solutions owing to the increasing number of working people, specifically in emerging nations like India and China, is also propelling the demand for the product.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Whirlpool Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Panasonic Corporation, Miele & Cie. KG, Broan-NuTone, LLC (Nortek Holdings LLC), Faber S.p.A. (Franke Holding AG), Falmec S.p.A., Asko Appliances AB (Hisense Group), Robert Bosch GmbH (BSH Home Appliances Corporation), and Elica S.p.A. (FAN S.A.)
Strategies deployed in Range Hoods Market
Oct-2020: Broan-NuTone is introducing the new Designer Collection series of chimney hoods. This series has been developed for today’s home and has high performance, affordable price, and quiet operation.
Jul-2020: Franke Group merged its Faber Hoods & Cooking Systems and Franke Kitchen Systems divisions. The combined division is focused on consolidating and further expanding Franke’s leading market position in these areas in the long term.
Jan-2020: Falmec launched the Spazio hood. The island hood measures 1800mm and sits in a load-bearing frame.
Aug-2019: Faber India released its premium range of chimneys on Flipkart. The range includes chimneys with innovative technology, like filter-less chimneys (for smooth functioning without the worry of cleaning), 3D chimneys (with 3 way powerful suction systems), and 3-in-1 Aerostations (chimneys + Fans + air purifiers).
Feb-2018: Broan, NuTone and Venmar unveiled an Under-Cabinet Range Hood Product Line. This line has new designs and unsurpassed performance. The line features the Captur System, enables consumers to enjoy new stylish, modern designs and advanced features.
Jan-2018: Elica announced the launch of the Varna Black vent hood. It is an addition to its Techne series. Varna Black features a black stainless steel finish and integrates inspirational, classic Italian designs with the latest functional technology to deliver convenience and high performance.
Sep-2017: Faber came into partnership with Climatic Home Products, a division of Climatic Corporation. Under this partnership, the latter company became the distributor for the Central and South Eastern United States. Climatic Home Products supports Faber’s Italian designed and crafted premium and luxury range hoods for this region.
Aug-2017: Broan-NuTone launched Stunning Black Stainless Steel Range Hoods. Black stainless steel is an increasingly popular choice for consumers.
Jun-2017: Franke Group acquired a majority stake in Elikor LLC, the leader in the Russian kitchen hoods market. Following the acquisition, Franke Group’s uses the know-how of its subsidiary Faber S.p.A. The companies cooperate for further strengthening Elikor’s position in Russia and to continue developing current product ranges of high-end kitchen hoods in both contemporary and traditional designs.
Scope of the Study
Market Segments covered in the Report:
• Under Cabinet
• Wall Mounted
• Ceiling Mount
• Other Types
By Distribution Channel
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Whirlpool Corporation
• Samsung Electronics Co., Ltd. (Samsung Group)
• Panasonic Corporation
• Miele & Cie. KG
• Broan-NuTone, LLC (Nortek Holdings LLC)
• Faber S.p.A. (Franke Holding AG)
• Falmec S.p.A.
• Asko Appliances AB (Hisense Group)
• Robert Bosch GmbH (BSH Home Appliances Corporation)
• Elica S.p.A. (FAN S.A.)
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