Range Hood Market - Development Outlook and Demand Analysis to 2026
Category: #headlines  By Rahul Varpe  Date: 2021-01-04
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Range Hood Market - Development Outlook and Demand Analysis to 2026

The range hood market may record over USD 9.5 billion by 2026.

Given to rising significance and demand, firms operating in the range hood market are developing new products that are rigged with advanced features. For instance, in 2018, major electronic goods company, Panasonic Corporation launched its new and enhanced chimney type range hood having modern features including an electronic soft-touch glass panel and a smoke duct adaptor.

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North America range hood market is witnessing increasing demand owing to the implementation of stringent government regulations on food safety and hygiene in hotels and restaurants.

Range hoods are generally installed in commercial and residential kitchens for the removal of fumes, heat, smoke, airborne grease and combustion products. Although the recent COVID-19 pandemic induced lockdown have caused restaurants, hotels and cafes to shut down operations temporarily, estimates suggest that the range hood market could grow substantially owing to the revival of the economy after the pandemic.

Increasing concerns regarding food safety and hygiene around the world are driving the range hood market growth. Development of new restaurants and hotels in Europe and Asia Pacific is fueling product demand. Several restaurant owners are using kitchen hoods in order to follow food safety and restaurant hygiene guidelines put forth by local governments.

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Based on product, the range hood market is divided into ceiling mount, wall mount and under cabinet. Of these, the ceiling mount range hood segment is experiencing significant growth owing to increasing consumer inclination towards modular kitchens. Ceiling kitchen hoods are mainly made for modular kitchens with the nob or stove positioned in the middle of the kitchen, allowing multiple users to cook simultaneously. These hoods are available in various colors, shapes, materials and sizes, which is boosting their popularity in modern kitchens.

In terms of application, the range hood business is bifurcated into residential and commercial. Out of these, the residential segment is anticipated to register the highest market share over the forecast period on account of the shifting preferences of consumers towards modern, advanced kitchen cleaning appliances over traditional cleaning systems like fans.

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While the global range hood market consists of firms such as Asko Appliances, KOBE Range Hoods, Zephyr Ventilation, Faber S.p.A, Broan Inc., Vent-A-Hood, Viking Range, LLC, Panasonic Corporation, Windster Hoods, CaptiveAire Systems, Fotile Overseas Kitchen Appliance, BSH Group, Samsung Electronics, Elica S.p.A, Miele, Inc., and Whirlpool Corporation.

These companies are adopting different business strategies such as new product development and geographical expansions in order to enhance their market position.

Related Reports: -

Air Duct Market: https://www.globenewswire.com/news-release/2019/10/16/1930300/0/en/Air-Duct-Market-revenue-to-hit-USD-5-5-Bn-by-2025-Global-Market-Insights-Inc.html

Chilled Beams Market: https://www.globenewswire.com/news-release/2020/06/02/2042049/0/en/Chilled-Beams-Market-demand-to-hit-USD-431-million-by-2026-Global-Market-Insights-Inc.html

 

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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