Range Hood Market – Global Industry Analysis and Forecast (2023-2029)

Range Hood Market was valued at US$ 15.95 Bn. in 2022. The Global Range Hood Market size is estimated to grow at a CAGR of 7.1 % over the forecast period.
Range Hood Market Overview:
A range hood is a device that hangs over the cooktop or stove and features a mechanical fan. By cleaning the air and filtration, range hoods remove combustion products, smoke, odours, airborne grease, steam, and heat from the air.

The report explores the market's segments (Type, Interferometer Type, Application, End-User, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. The report investigates the market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Range Hood market's contemporary competitive scenario.

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2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2029. 2020 is a year of exception and analysis, especially with the impact of lockdown by region.
Range Hood Market Dynamics:
The increasing number of cloud kitchens, service restaurants, and food service sectors is the reason behind the success and expansion of the Range Hood Market. Range Hood is used to improve the quality of the air in the kitchen after cooking. The device extracts the polluted air or unwanted air and releases it outside (like a ducted model).

The growing demand for well-organized and area-saving that optimize the floor usage in a small area these features have attracted the customer to spend more money on modular kitchens. Customers are found it safe also with advanced technology in it. The number of consumers has increased of installation of range hood systems in their kitchen to enhance the aesthetic and overall comfort looks, which is driving the market of market. Hood ventilation absorbs the moisture from the air, because it may cause cracks in the ceiling and walls. Several companies are introducing Advanced range hood with IoT technology to upgrade the overall house connectivity. Which will drive the market growth in the forecasted years.

The factors which will hamper the market growth are high installation charges, window fans being cheaper than range hoods, and the availability of low-cost exhaust fans. The residential areas, the popularity of window fans is more than range hoods because of their low cost and availability in the market. But in Latin America, the demand for range hood is increasing and it is expected to grow in the forecasted period.

Demand for smart kitchens is increasing and it will create a robust opportunity for market growth. Kitchens are the most common source of producing the most harmful pollutants. The two companies Newport Partner and Broan-NuTone, are introducing or developing a range hood called “SMART” range hood which automatically senses the pollutants from the air and blows it outside. This model is five times better than the previous model which is the “ENERGY MODEL”.

Range Hood Market Trends:

Technology has made it easier for people to shift toward the smart kitchen. People are installing advanced technology, appliances, and devices in their kitchens for safety purposes and aesthetic looks. In urbanization, the demand for smart kitchens is increasing rapidly. Range hood systems are popular in smart kitchens; this new trend is worth examining, and companies are always inventing new features to keep up with the market's growth.
Range Hood Market Segment Analysis:
Based on Product Type

The Wall mount range hood segment is dominating the market with the largest market share of more than 40% of the total market. This system is being used in both commercial and residential sectors and the demand for wall mount range hoods is increasing because it can clean pollutants from the air. It has various models also like Bluetooth connection and Wi-Fi connection and it growing the growth of the industry.

Based on Application

Residential sector is dominating the market of Range hoods. In 2022, the market value for the residential sector of range hood is $ xx Bn. The factors which are promoting the range hood in this sector are innovative designs, increased energy efficiency, and reduce area requirements. Also, the increase in the disposable income of people and growing penetration in electricity distribution give constant or non-stop power supply. Awareness regarding the energy-efficient solution is increasing among the citizen, which is also a factor in increasing demand for range hood in households or residential sectors.

Based on Distributions Channel

Offline distribution channel is dominating the market because of the customer preference and easy installation, easy ability to check the product before buying, and also wider options of products. Most of the companies have their stores across the world, which also contributed to the market growth. Whereas online distribution is expected to grow by 8.5% by 2029. E-commerce is spreading in the market rapidly and users of the smartphone are also increasing so it is expecting the online segment will grow in the market forecasted period. It also gives various benefits like offers, discounts, ease of comparison, and many more, which will drive the segment in the future.
Regional Insights:
The APAC region has dominated the range hood market because of the increase in the quick service restaurants in this region and demand for the cooking hood is also increasing due to that. In India, consumers are investing more in home appliances which contributed to the restaurant industry development.

The objective of the report is to present a comprehensive analysis of the global Range Hood Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Range Hood Market dynamic, and structure by analyzing the market segments and projecting the Range Hood Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Market make the report investor’s guide.
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Range Hood Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 15.95 Bn.


Forecast Period 2023 to 2029 CAGR:
7.1%
Market Size in 2029:
US $ 25.79 Bn.


 Segments Covered:
by Type
Wall mount
Ceiling cabinet
Under cabinet


by Application
Residential
Commercial


by Distribution channels
Online
Offline



Range Hood Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Key Players:
1. BSH Group
2. Electrolux
3. Whirlpool
4. Elica
5. ROBAM
6. VATTI
7. FABER
8. FOTILE
9. FAGOR
10. Miele
11. DE & E
12. Panasonic
13. Midea
14. Haier
15. Nortek
16. Vanward
17. Marco
18. Tecnowind

Frequently Asked Questions:

1. Which region has the largest share in Global Range Hood Market?
Ans: Asia Pacific region holds the highest share in 2022.

2. What is the growth rate of Global Range Hood Market?
Ans: The Global Range Hood Market is growing at a CAGR of 7.1% during forecasting period 2023-2029.

3. What is scope of the Global Range Hood market report?
Ans: Global Range Hood Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Range Hood market?
Ans: The important key players in the Global Range Hood Market are – BSH Group, Electrolux, Whirlpool, Elica, ROBAM, VATTI, FABER, FOTILE, FAGOR, Miele, DE & E, Panasonic, Midea, Haier, Nortek, Vanward, Marco and Tecnowind

5. What is the study period of this market?
Ans: The Global Range Hood Market is studied from 2022 to 2029.