Range Hood Market Forecasts 2026 - Wall Mount Segment to Register 4% CAGR
Global range hood market size will be surpassing USD 10 billion by 2026. Changing residential and commercial infrastructures that have also been contributing to the growth of range hood industry.
LED lights have benefited from higher demand among the consumers as it can enhance the overall style and look of the product and save a considerable amount of energy. Integration of such lightings has gained high popularity across the industry. There has been a rise in the concerns regarding the air quality in homes of the U.S that is further contributing to the increasing adoption of range hoods in the country.
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Range Hood Market Segmentation:
Know about Market growth in New Research and its Top growing factors by Key Companies like
Asko Appliances, Broan, Inc., BSH Group, CaptiveAire Systems, Elica S.p.A., Faber S.p.A, Falmec S.p.A., Fotile Overseas Kitchen Appliance, KOBE Range Hoods, Miele, Inc., Pacific, Panasonic Corporation, Samsung Electronics, Vent-A-Hood, Viking Range, LLC, Whirlpool Corporation, Windster Hoods, Zephyr Ventilation
Comprehensive Review of Market Growth, Applications, and Future Prospects
Report Growth Drivers -
1. Increasing numbers of quick service restaurants & food joints across the globe
2. Rising consumer disposable income in the U.S. is supporting the adoption of range hoods in residential applications
3. Implementation of stringent government food safety & hygiene regulations in North America & Europe
4. The growing demand for range hoods in modular kitchens in Latin America and Europe
5. Increasing consumer awareness and product popularity in Asian countries
6. Rapid development of residential infrastructure in China, Japan, and Australia
7. Proliferation of the South African kitchen appliances industry
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Described below are some of the trends that are outlining range hood industry outlook:
1. Consumer preference for modular kitchens
Consumers worldwide have been consistently spending on range hood installation for their residents to maintain proper ventilation and exhausts in their kitchens. With the paradigm shift in the consumer's preference for the construction of modular kitchens, there has been a significant growth in the adoption of ceiling mount systems in Europe and North America
These kinds of systems are essentially designed for modern kitchens wherein stove or hob is installed right in the middle of the kitchen that accommodates several people to cook at a time. The ceiling mount systems are made available in multiple materials, colors, sizes and shapes, subsequently gaining further popularity in the modular kitchens. These hoods also help save space in the modular kitchens.
2. Rapid development of foodservice industry
With the rapid development of the foodservices businesses, commercial range hood systems will witness a considerable increase over the projected timeline. Food trucks and trailers have gained major popularity across North America which is consequently fueling the adoption of cooker hood systems in the region.
Food trucks have highly customized exhaust systems incorporated within owing to the availability of smaller working space. Rise in the number of Quick Service Restaurants (QSR) and food in North America and Asia Pacific will help foster the demand for commercial systems. Governments in the North America region have been implementing strict food safety and hygiene regulations which will support the adoption of kitchen cleaning appliances.
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3. Availability of products in wider ranges
Increasing consumer spending has led to a high demand for modular kitchens and rapid development of the foodservice sector has resulted in a steady growth for Canada range hood market share. Key states such as Vancouver and Toronto have been witnessing high installation for advanced kitchen equipment like ventilation & exhaust systems, smart appliances and cooking & refrigeration systems.
Moreover, the presence of manufacturers like Faber, Elica, Broan-NuTone and Vent-A-Hood within the Canadian market supports the availability of multiple ranges of products that have created a high demand among consumers. Several key industry players that have been involved in the manufacturing and supplying of the product include Samsung Electronics Co., Ltd., Panasonic Corporation, Whirlpool Corporation, Fotile, Faber S.p.A., Boran and Elica S.p.A.
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