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The Worldwide Range Hood Industry is Expected to Reach $17.6 Billion by 2027
Dublin, June 04, 2021 (GLOBE NEWSWIRE) -- The "Global Range Hood Market By Type (Under Cabinet, Wall Mounted, Ceiling Mount and Other Types), By Distribution Channel (Offline and Online), By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
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. 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.
Type Outlook
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.
Regional Outlook
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.)
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Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies deployed in Range Hoods Market - Global
Chapter 4. Global Range Hood Market by Type
4.1 Global Under Cabinet Market by Region
4.2 Global Wall Mounted Market by Region
4.3 Global Ceiling Mount Market by Region
4.4 Global Other Types Market by Region
Chapter 5. Global Range Hood Market by Distribution Channel
5.1 Global Offline Market by Region
5.2 Global Online Market by Region
Chapter 6. Global Range Hood Market by Region
Chapter 7. Company Profiles
7.1 Whirlpool Corporation
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional Analysis
7.1.4 Research & Development Expense
7.2 Samsung Electronics Co., Ltd. (Samsung Group)
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.2.5 SWOT Analysis
7.3 Panasonic Corporation
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expense
7.3.5 SWOT Analysis
7.4 Miele & Cie. KG
7.4.1 Company Overview
7.5 Broan-NuTone, LLC (Nortek Holdings LLC)
7.5.1 Company Overview
7.5.2 Recent strategies and developments:
7.5.2.1 Product Launches and Product Expansions:
7.6 Faber S.p.A. (Franke Holding AG)
7.6.1 Company Overview
7.6.2 Recent strategies and developments:
7.6.2.1 Product Launches and Product Expansions:
7.6.2.2 Acquisition and Mergers:
7.6.2.3 Partnerships, Collaborations, and Agreements:
7.7 Falmec S.p.A.
7.7.1 Company Overview
7.7.2 Recent strategies and developments:
7.7.2.1 Product Launches and Product Expansions:
7.8 Asko Appliances AB (Hisense Group)
7.8.1 Company Overview
7.9 Robert Bosch GmbH (BSH Home Appliances Corporation)
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 Research & Development Expense
7.9.5 SWOT Analysis
7.10. Elica S.p.A. (FAN S.A.)
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
7.10.4 Research & Development Expense
7.10.5 Recent strategies and developments:
7.10.5.1 Product Launches and Product Expansions:
For more information about this report visit https://www.researchandmarkets.com/r/c7q3fg
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