According to the latest report by IMARC Group, titled "Range Hood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global range hood market size reached US$ 15.2 Billion in 2022. A range hood, kitchen hood, or exhaust hood refers to an essential appliance installed above a kitchen's cooking surface. Its main objective is to eliminate the smoke, odors, heat, grease, and airborne particles produced by culinary procedures. The components of a range hood are a canopy or hood enclosure that covers the cooking area and a fan or blower system that removes pollutants and blows them outside the kitchen. Filters, including mesh or baffle filters, are frequently included in the hood to collect grease and other particles, preventing them from entering the ducting and potentially posing fire risks or air pollution. Additionally, some range hoods have amenities such as lighting to illuminate the cooking surface, varying fan speeds for improved control, and even integrated fire suppression systems for increased safety.
Global Range Hood Market Trends:
The growing consciousness regarding the environment majorly drives the global market. This can be supported by the rising awareness regarding indoor air pollution and its adverse effects on health. Thus, range hoods play a crucial role in eliminating cooking odors, smoke, and harmful pollutants, driving the market. Along with this, the escalating demand for energy-efficient appliances across various sectors, including the kitchen appliance sector, due to the rising energy costs and environmental concerns, is significantly supporting the market. Therefore, manufacturers are developing range hoods with advanced technologies that minimize energy consumption while maintaining optimal performance, which is acting as another growth-inducing factor. In addition, the shift in consumer lifestyles, such as an increased emphasis on cooking at home and the popularity of open-concept kitchens, is influencing the demand for efficient and aesthetically pleasing range hoods. Apart from this, the implementation of government regulations and building codes focusing on energy efficiency and ventilation requirements in residential and commercial spaces is contributing to the market. Furthermore, the introduction of innovative features and enhanced functionality, such as touch controls, LED lighting, smart connectivity, noise reduction technologies, and energy-efficient ventilation systems, are creating a positive market outlook. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 21.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.60% during 2023-2028.
- On the basis of the product, the market has been divided into ceiling mount, wall mount, under cabinet, and others. Among these, wall mount represents the largest market segment.
- Based on the distribution channel, the market has been segmented into offline and online. According to the report, offline accounted for the largest segment.
- On the basis of the application, the market has been classified into residential and commercial. Among these, residential represents the largest market segment.
- Based on the region, the market has been segmented into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. At present, Asia Pacific holds the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being Broan-NuTone LLC (Madison Industries Holdings LLC), Bsh Home Appliances Limited (BSH Hausgeräte GmbH), Electrolux AB, Elica S.p.A., Faber S.p.A. (Franke Holding AG), Fotile America LLC, Gorenje (Hisense Group), Guangdong Vanward New Electric Co. Ltd., Haier Group Corporation, Midea Group, Miele, Panasonic Holdings Corporation, Samsung Electronics Co. Ltd., and Whirlpool Corporation.
|Base Year of the Analysis
||Ceiling Mount, Wall Mount, Under Cabinet, Others
|Distribution Channels Covered
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Broan-NuTone LLC (Madison Industries Holdings LLC), Bsh Home Appliances Limited (BSH Hausgeräte GmbH), Electrolux AB, Elica S.p.A., Faber S.p.A. (Franke Holding AG), Fotile America LLC, Gorenje (Hisense Group), Guangdong Vanward New Electric Co. Ltd., Haier Group Corporation, Midea Group, Miele, Panasonic Holdings Corporation, Samsung Electronics Co. Ltd., Whirlpool Corporation, etc.
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