Cooking Hood Market to Garner USD 18.7 Billion Revenue at a Steady CAGR of 4.8% during the Forecast Period of 2022-31 | Transparency Market Research, Inc.

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Nov 07, 2022, 04:30 ET

The global market is expected to be driven by an increase in the integration of sophisticated technologies in cooking hoods.
Increase in the number of restaurant and the growth of the food service industry are expected to trigger demand for cooking hoods.

WILMINGTON, Del., Nov. 7, 2022 /PRNewswire/ -- By 2021, the global size of cooking hood market stood at US$ 11.9 Bn. It is anticipated that the global market will rise at 4.8% CAGR during the forecast timeframe, spanning from 2022 to 2031. It is expected that by 2031, the global cooking hood market will attain value of US$ 18.7 Bn. The need for kitchen range cooking hoods is anticipated to rise as kitchen range hood systems are being installed in homes to improve aesthetics and general comfort. The demand for cooking hood market is being driven by the increase in cloud-based restaurants and kitchens throughout the world, particularly since the outbreak of COVID-19 pandemic.

Commercial kitchens are increasingly in need of cooking hoods with larger suction power ranges due to how effectively these cooking hoods are utilized in settings where a lot of food is cooked. Leading companies in the global cooking hood market are working hard to create cutting-edge devices with the newest technology to diversify their sources of income.

The growth of food service industry, service restaurants, and cloud-based kitchens are what driving the sales of cooking hood market. Growing consumer knowledge about the advantages of cooking hoods is opening up profitable commercial prospects. This is anticipated to increase the cooking hood customer base globally. Range hood usage has increased as a result of changing lifestyles and hectic work commitments. The need for home cooker hoods is projected to increase globally due to the importance of kitchen cleanliness.

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Key Findings of Market Report

Manufacturers are putting more of an emphasis on products with cutting-edge technology and niche applications. In order to meet the demands of the clients, they are also providing upgraded and personalized cooking hoods for various purposes.
The size of the cooking hood market is anticipated to increase throughout the forecast timeline due to the rising acceptance of IoT devices and increasing adoption of smart home kitchen appliances. The industry is also anticipated to be driven by the advent of innovative kitchen hood designs, sizes, as well as other features. Such innovative products are expected to come up as one of the key trends in the cooking hood market.
The most widely used form of range hood on the global cooking hood market is the wall mounted variety. Over the stove, wall-mounted cooking hoods are fixed directly on the kitchen wall. Due to their large diameters, wall mounted range hoods can totally absorb all of the fume and smoke in the kitchen. They also require a larger kitchen due to their huge size. Due to this, wall-mounted cooking hoods constitute one of the most often used pieces of commercial cooking equipment, which is likely to drive cooking hood market sales volume in the near future.

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Global Cooking Hood Market: Growth Drivers

Due to the increasing adoption of cutting-edge technology in the North America, the region is anticipated to lead the global cooking hood market over the forecast timeframe. The region is estimated to account for sizeable cooking hood market share during the forecast period. The restaurant business in North America, particularly in the US, has suffered as a result of the COVID-19 outbreak. Food delivery services have been made possible by customers' reservations about eating out, which has increased demand for "ghost" or "cloud" kitchens. In North America, this is expected to drive up usage of cooking hoods.

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Global Cooking Hood Market: Key Players

Some of the key market players are

BSH Home Appliances Corporation
Whirlpool Corporation
Broan, Inc.
Panasonic Corporation
Faber S.p.A.
Samsung Electronics

Global Cooking Hood Market: Segmentation

Product

Wall Mounted Hoods
Ceiling Mounted Hoods
Under Cabinet Type Hoods
Others

Suction Power

Less than 800 m3/h,
800-1200 m3/h
More than 1200 m3/h

Decibel

Less than 40 Decibels
40-60 Decibels
More than 60 Decibels

Application

Residential
Commercial

Distribution Channel

Online
Offline

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