Range Hood Industry Insights, 2020-2025 - Rise in Number of Modular Kitchens, Growth of IoT in Kitchen Appliances

DUBLIN, 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.

Key Market Insights

• The analysis of the range hood market provides sizing and growth opportunities for the forecast period 2020-2025.
• Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market
• Includes a detailed analysis of growth drivers, challenges, and investment opportunities
• Delivers a complete overview of segments and the regional outlook of the range hood market
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage

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.

The growing demand for energy-efficient smart appliances is expected to generate high growth opportunities for IoT-enabled range hood appliances during the forecast period. Cooking appliances such as range hoods, ovens, and hobs are subjected to EU energy labeling and eco-design requirements. While the global demand for connected devices is increasingly growing, owing to the high adoption of smart technology by consumers, the introduction of AI-enabled kitchen appliances and voice assistant technology is fueling the growth. Regulatory bodies in North America and Europe have implemented new energy efficiency programs. Further, owing to the rising cost of energy resources, consumers are also demanding high-energy efficient products to reduce their utility bills.

Range Hood Market: Segmentation

This research report includes detailed segmentation by installation, application, suction capacities, ventilation, distribution, and geography.

Integrated range hood appliances are the most commonly preferred types to manage space in the kitchen area. The increasing application of integrated range ducts in both commercial and residential sectors is increasing the scope for market growth as ductless appliances are not efficient in terms of performance. Another major driver boosting the growth is the increasing preference for integrated devices in APAC as they are compact nature, affordability, and compatibility.

Efficient duct range hood appliances dominate the market as they are mostly preferred for both commercial and residential purposes. The scenario is expected to sustain during the forecast period, and the momentum for duct appliances is growing. However, there is not much significance for ductless devices due to their performance and limitation in operation procedures. The high demand for duct appliances in France, Italy, and the UK is fueling the growth as they do not prefer ductless ones. Moreover, strict regulations and laws for hotels and restaurants across geographies is also a driving factor for preferring duct over ductless.

Ductless range hoods are found in minimal households such as flats and apartments, where the residents are not given permission. They tend to be a secondary choice in commercial kitchens due to their restricted performance features. However, a considerable number of commercial spaces are likely to opt for ductless island range hoods due to space limitations. The rise in hotels and QSR projects in the US, Germany, China, and the UAE can support the growth factor.

Range hood appliances with medium suction are the largest segment in the market. They experienced higher adoption in APAC than North America in 2019. The growth in middle-class consumers and the high installation in commercial spaces are driving the dominance of the segment. Further, several households in APAC countries such as India prefer medium suction power exhaustive products as their cooking style includes oil and masala.

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

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