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Global Range Hood Market Is Expected To Register Annual Growth Of 4.3% From 2020 to 2025

The global range hood market size was valued at USD 11.3 billion in 2019 and is expected to register a CAGR of 4.3% from 2020 to 2025. Technological advancements along with rising usage of IoT in kitchen hood devices are expected to be the key factors boosting the market growth. Manufacturers are focusing on developing innovative devices owing to consumer preference for smart features, such as noise reduction, wireless connectivity, and installation of temperature, optic, and infrared sensors, in the products.

A kitchen hood, exhaust hood, or range hood is a device containing a mechanical fan that hangs above the stove or cooktop in the kitchen. It removes airborne grease, combustion products, fumes, smoke, heat, and steam from the air by evacuation of the air and filtration.

The increasing demand for advanced kitchen cleaning appliances due to rising consumer disposable income is driving the market growth. The demand for energy-efficient and technologically advanced range hood systems is primarily increasing in modular kitchens. Customers are shifting their preferences toward the construction of modular kitchens due to efficient storage capabilities and convenience, providing lucrative opportunities for industry size.

For instance, manufacturers use multiple insulation layers, sound-absorbing bases, and filtration system motors to reduce noise. This factor is also likely to contribute to market growth. In addition, changing lifestyles due to busy work schedules along with an increasing number of hotels and food chains, particularly in developing countries like India and China, are driving the market.

Stringent regulations by various regional governments regarding the cleanliness and hygiene in restaurants and food chains have mandated the installation of range hoods, which is also boosting the market growth. Moreover, these devices offer added advantages, such as heat reduction, maintenance of air quality, and increased safety.

On the other hand, high maintenance cost and availability of substitutes, such as exhaust, are anticipated to hamper the growth of the market. However, the manufacturers are focusing on product development and cost reduction, which will support product demand.

The under cabinet hood segment held the highest market share of 41.55% in 2019. Under cabinet hood is the most widely used product type owing to its easy installation and affordability and compatibility with different kitchen designs. Moreover, the duct transports the smoke and particles out of the kitchen whereas other ductless versions recirculate the air into the kitchen. The Ceiling-mount hood segment is expected to register the fastest CAGR over the forecast period. This product type is also known as island hood as it is not attached to the wall and is installed over the stove. This device type is gaining popularity owing to its stylish and sleek designs.

The offline distribution channel segment accounted for the highest market share so far. It is further expected to maintain its leading position throughout the forecast period due to the availability of a wide variety of products to choose from and the advantage of checking the products before buying. Moreover, the majority of the leading companies have their own specialty stores across the globe, which contributes to segment growth.

The online segment, however, is anticipated to expand at the highest CAGR of 4.5% over the forecast period. The rising popularity of e-commerce and the usage of smart devices including mobile phones and tablets are expected to be the key growth-driving factors. Moreover, benefits offered by online portals, such as discounts, easy payment options, and free installation services, will drive the segment further.

On region basis, North America accounts for the highest range hood market share and is projected to expand further steadily. Quick adoption of advanced technologies in the region and resultant demand for connected and smart devices, especially in countries, such as Canada and Mexico, are the key market drivers. Asia Pacific is expected to be the fastest-growing regional market with a CAGR of 5.0% from 2020 to 2025.

Increasing consumer spending capacity and high demand due to increasing awareness about the product benefits are accelerating the growth of the market in the Asia Pacific region. The increased need for convenient cleaning solutions due to the growing number of working individuals, especially in developing Asian economies, is also driving the product demand. Moreover, with rapid urbanization and the popular trend of small and compact homes in the region, consumers prefer convenient kitchen designs, such as modular patterns, which is expected to drive the demand further.

Some of the leading companies in the global market include Asko Appliances, Broan Inc., BSH Home Appliances Corp., Elica, Faber,  Falmec,  Miele, Panasonic Corp., Samsung Electronics, and Whirlpool Corp. These companies focus on product modification with respect to additional features and functionality.

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