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Range Hood Industry Insights, 2020-2025 - Rise in Number of Modular Kitchens, Growth of IoT in Kitchen AppliancesDUBLIN, Feb. 17, 2020 /PRNewswire/ -- The "Range Hood Market - Global Outlook and Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering. The global range hood market is expected to grow at a CAGR of over 6% during the period 2019-2025.
The global range hood market is expected to witness steady growth during the forecast period. The growth is estimated to be consistent, where most of the underpenetrated regions can offer business opportunities for vendors during the period 2019-2025. With the increasing awareness of improper ventilation facilities, the importance of these exhaustive appliances in the cooking area is growing rapidly. Kitchen hoods are steadily replacing exhaust fans as they are more effective in the ventilation process. Hence, the need to effectively reduce the excess heat in kitchen and demand for advanced home appliances that support efficient and convenience cooking habits is increasing the installation as they are capable of smoke and odor through baffle and mesh filters. Residential range hood appliances have replaced traditional ventilation fans in several APAC economies. A large number of households with limited kitchen spaces in densely populated countries such as India and China prefer wall-mounted or under the cabinet to save space. Island types are also preferred for their sleek and elegant designs by several affluent consumers in APAC, MEA, and Latin America. Duct range hoods are more prevalent than ductless appliances on account of high performance. Low suction exhaustion appliances are the dominant segment for residential applications, and the segment is expected to sustain its position during the forecast period. Rapid urbanization, the rise in the middle-class economy, and the increased awareness of proper ventilation facilities have increased the demand for exhaustion devices in the residential segment. Range hood appliances are majorly distributed through offline channels, which include outlets such as specialty stores, hypermarkets, departmental stores, However, online channels, which consist of official company websites and other third-party e-commerce websites such as Amazon, are also picking up the pace. The online sale will be concentrated in the US, Canada, the UK, and France due to the high smartphone penetration and high levels of awareness of ventilation facilities. However, despite the increasing internet penetration, the share of online sales is not significant in APAC. The demand for IoT based applications and the growth of e-commerce websites with discounts and offers are fueling the growth. Insights by Geography The demand for exhaust appliances has been rising due to the growth of smart kitchen appliances. While the market is surging toward the maturity stage in North America and Europe, the product is yet to obtain its considerable significance in APAC, MEA and Latin America. Europe is dominating the market as the demand and potential are consistent and expect to continue during the forecast period. The trend of fast foods in Italy and Portugal, the tendency to eat away from homes, the steady growth in the foodservice industry, the penetration of IoT-based smart kitchen appliances, and the implementation of EU regulations on food safety are the major growth drivers. North America is witnessing expansion in businesses, construction of new hotel projects, growth and consistent demand for innovative appliances. These factors are likely to increase the demand for exhaust appliances in the region. The demand is mainly generated from the replacement of conventional exhaustion equipment with technologically advanced types for their modular kitchens. The APAC region is expected to surpass North America in 2025. Along with the presence of key markets, which include China, Japan, India, South Korea, and Australia, the market in Malaysia, Singapore, Indonesia has a high scope for development during the forecast period. With an expected CAGR of over 9% during the period 2018-2022 in the restaurant and food industry, the Indian market for commercial range hoods is expected to emerge as the major market during the forecast period. Further, the completion of several housing schemes and the growth in the tourism sector in Malaysia and Singapore are fuelling the growth. Insights by Vendors Vendors of modern kitchen appliances are increasingly focusing on the technical aspect with advanced features to sustain in the highly competitive market. Since range hood appliances are expensive with long replacement cycles, differentiation always lies in the first mover technology. One of the effective ideas could be the launch of IoT enabled appliances to be the forerunner of the market. The Indian player perfectly understood this - Hindware, which introduced the first IoT enabled kitchen range hoods. In high internet penetrated regions such as the US and European countries, smart kitchen appliances are gaining momentum. Key Topics Covered 1 Research Methodology 2 Research Objectives 3 Research Process 4 Scope & Coverage 4.1 Market Definition 4.1.1 Inclusions 4.1.2 Exclusions 4.2 Base Year 4.3 Scope of the Study 4.4 Market Segments 4.4.1 Market Segmentation by Installation 4.4.2 Market Segmentation by Ventilation 4.4.3 Market Segmentation by Suction Capacity 4.4.4 Market Segmentation by Application 4.4.5 Market Segmentation by Distribution 4.4.6 Market Segmentation by Geography 5 Report Assumptions & Caveats 5.1 Key Caveats 5.2 Currency Conversion 5.3 Market Derivation 6 Market at a Glance 7 Introduction 7.1 Overview 8 Growth Enablers 8.1 Rise in Number of Modular Kitchens 8.2 Rise in QSR & Hotels 8.3 Expanding Nuclear Families & Rising Women Employment 8.4 Growth in Health Awareness & Benefits of Range Hoods 9 Market Restraints 9.1 High Operational Costs 9.2 Longer Purchase Cycles 10 Market Opportunities & Trends 10.1 Growth of IoT in Kitchen Appliances 10.2 Energy-Efficient Smart Appliances 10.3 Stringent Government Food Safety & Hygiene Regulations 11 Market Landscape 11.1 Market Overview 11.2 Market Size & Forecast 11.3 Five Forces Analysis 11.3.1 Threat of New Entrants 11.3.2 Bargaining Power of Suppliers 11.3.3 Bargaining Power of Buyers 11.3.4 Threat of Substitutes 11.3.5 Competitive Rivalry 12 By Installation 12.1 Market Snapshot & Growth Engine (Units) 12.2 Market Overview 12.3 Integrated 12.4 Wall-Mounted 12.5 Island 12.6 Downdraft 13 By Ventilation 13.1 Market Snapshot & Growth Engine (Units) 13.2 Market Overview 13.3 Duct 13.4 Ductless 14 By Suction Type 14.1 Market Snapshot & Growth Engine (Units) 14.2 Market Overview 14.3 Medium 14.4 High 14.5 Low 15 By Application 15.1 Market Snapshot & Growth Engine (Units) 15.2 Market Overview 15.3 Residential 15.4 Commercial 16 By Distribution 16.1 Market Snapshot & Growth Engine (Units) 17 By Geography 17.1 Geography Snapshot & Growth Engine (Revenue) 17.2 Geography Snapshot & Growth Engine (Volume) 17.3 Geography Overview 18 Europe 19 North America 20 APAC 21 Latin America 22 Middle East & Africa 23 Competitive Landscape 23.1 Competitive Scenario 24 Key Vendors 24.1 Elica 24.1.1 Overview 24.1.2 Products Offerings 24.1.3 Key Strengths 24.1.4 Key Strategies 24.1.5 Key Opportunities 24.2 Vent-A-Hood 24.3 Broan 24.4 Haier 24.5 Midea 25 Other Prominent Vendors 25.1 SMEG 25.1.1 Overview 25.1.2 Products Offerings 25.2 Faber 25.3 Vatti 25.4 Fagor 25.5 Carysil 25.6 Sunflame 25.7 IFB 25.8 Glen 25.9 Kutchina 25.10 Pigeon 25.11 KAFF 25.12 Prestige 25.13 Bright Flame 25.14 Cosmo 25.15 Firebird 25.16 AKDY 25.17 Ekon 25.18 Winflo 25.19 Zuhne 25.20 Hindware 25.21 Prima 25.22 Eden 25.23 Elba 25.24 Eurodomo 25.25 Pureflames 25.26 Maytag 25.27 Amana 25.28 Miele 25.29 Thermador 25.30 Zephyr 25.31 Wolf 25.32 Viking 25.33 BSH 25.34 GE 25.35 KitchenAid 25.36 Cata 25.37 Panasonic 25.38 Whirlpool 25.39 Samsung 25.40 Electrolux 25.41 Siemens 25.42 Novy For more information about this report visit https://www.researchandmarkets.com/r/gq0obt Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. Media Contact: Research and Markets View original content:http://www.prnewswire.com/news-releases/range-hood-industry-insights-2020-2025---rise-in-number-of-modular-kitchens-growth-of-iot-in-kitchen-appliances-301005866.html SOURCE Research and Markets |