Selbyville, Delaware, Nov. 21, 2019 (GLOBE NEWSWIRE) --
The range hood market revenue is projected to exceed USD 10 billion by 2026, according to a 2019 Global Market Insights Inc. report. Growing trend of wall-mounted and island hoods in modern kitchens owing to the transforming residential & commercial infrastructures is driving the industry growth.
The demand for ceiling mount systems is increasing in North America and Europe due to the shifting consumer preference toward the construction of modular kitchens. These systems are primarily designed for modern kitchens where hob or stove is installed in the middle of the kitchen, allowing multiple people to cook. Ceiling mount systems are available in various colors, material, shapes, and sizes, thus gaining popularity in modular kitchens. These hoods are gaining demand in modular kitchens to save space.
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Some major findings of the range hood market report include:
- Increasing construction of modular kitchens is compelling the demand for advanced kitchen hood systems that match the overall aesthetics of the kitchen. These products are also available in various shades & ranges depending on consumer demands.
- The integration of LED lighting is aiding users to save a significant amount of energy. LEDs also enhance the overall looks & style of the product, gaining high popularity in the industry.
- Consumers are increasingly spending on installing residential range hoods for maintaining appropriate ventilation & exhausts in kitchens. Moreover, the growing concerns about home air quality are further supporting the adoption of range hoods in the U.S.
- Prominent companies present in the range hood market share are Faber S.p.A., Samsung Electronics Co., Ltd., Broan, Panasonic Corporation, Elica S.p.A., Whirlpool Corporation, and Fotile
Browse key industry insights spread across 250 pages with 311 market data tables and 26 figures & charts from the report, “Range Hood Market Size by Product (Under Cabinet, Wall Mount, Ceiling Mount), By Application (Residential, Commercial), By Distribution Channel (Direct Selling, E-commerce, Others), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/range-hood-market
The demand for commercial range hood systems is expected to increase over the forecast timeline due to the rapidly developing foodservice industry. The growing popularity of food trucks & trailers is supporting the adoption of cooker hood systems across the region. These trucks are integrated with highly customized exhaust systems due to smaller working space. Moreover, the increasing number of Quick Service Restaurants (QSR) & food joints across North America and Asia Pacific will drive the demand for commercial systems. Governments across North America are implementing stringent food safety & hygiene regulations, supporting the adoption of kitchen cleaning appliances.
The range hood market in Canada is expected to grow at a rapid pace owing to the development of the foodservice industry, high demand for modular kitchens, and increased consumer awareness. The major states including Toronto and Vancouver are experiencing the demand for advanced kitchen equipment including cooking & refrigeration systems, ventilation & exhaust systems, and smart appliances, supporting the industry growth. Additionally, the strong presence of major manufacturers including Broan-NuTone, Faber, Vent-A-Hood, and Elica, in the Canadian market aids the availability of various product ranges, creating high demand among consumers.
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Partial chapters of report table of contents (TOC):
Chapter 2. Executive Summary
2.1. Range hood industry 360° synopsis, 2015 – 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Application trends
2.1.4. Distribution channel trends
2.1.5. Regional trends
Chapter 3. Range Hood Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 – 2026
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.2. Manufacturers
3.3.3. Distribution channel analysis
3.3.4. End-use landscape
3.3.5. Vendor matrix
3.4. Technology & innovation landscape
3.5. Regulatory landscape
3.5.1.1. North America
3.5.1.2. Europe
3.5.1.3. Asia Pacific
3.5.1.4. Latin America
3.5.1.5. MEA
3.6. Industry impact forces
3.6.1. Range Hood Market Growth drivers
3.6.1.1. Increasing numbers of quick service restaurants & food joints across the globe
3.6.1.2. Rising consumer disposable income in the U.S. is supporting the adoption of range hoods in residential applications
3.6.1.3. Implementation of stringent government food safety & hygiene regulations in North America & Europe
3.6.1.4. The growing demand for range hoods in modular kitchens in Latin America and Europe
3.6.1.5. Increasing consumer awareness and product popularity in Asian countries
3.6.1.6. Rapid development of residential infrastructure in China, Japan, and Australia
3.6.1.7. Proliferation of the South African kitchen appliances industry
3.6.2. Industry pitfalls & challenges
3.6.2.1. High initial costs required for advanced kitchen hoods
3.6.2.2. Limited consumer awareness in small countries
3.6.2.3. Availability of low-cost exhaust systems
3.7. Growth potential analysis
3.8. Porter's analysis
3.8.1. Supplier power
3.8.2. Buyer power
3.8.3. Threat of new entrants
3.8.4. Threat of substitutes
3.8.5. Internal rivalry
3.9. Competitive landscape, 2018
3.9.1. Company market share analysis
3.9.2. Strategy dashboard (New product development, M&A, R&D, Investment landscape)
3.10. PESTEL analysis
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.