Range Hood Market Share Set to Reach USD 27.61 Billion by 2030

The Range Hood Market Share was valued at USD 17.08 billion in 2023 and is estimated to grow at a compound annual growth rate (CAGR) of 7.1 % during the forecast period reaching USD 27.61 billion by 2030. Factors such as growing consumer awareness for indoor air quality and increasing acceptance of modular kitchens are supporting the growth of Air Purifiers market.

What is the Market Growth Driver for & Opportunity

The growing urbanization has increased the need for functional and aesthetic kitchen designs that occupy less space. Modular kitchens are a hot favourite amongst consumers since they often come equipped with high-end appliances such as range hoods. The importance of range hoods for indoor air quality by controlling smoke, odor, and airborne grease, and improving the cooking environment overall. Additionally, the rapid development of technologies has fueled market growth even further. Various manufacturers are coming up with IoT-enabled and energy-efficient range hoods that provide better features and convenience for the user. 

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Segmentation Analysis

The range hood market is divided as per product type, application, distribution channel, and region.

Market Breakdown by Product Type: Ceiling Mount, Wall Mount, Under cabinet & Others. In 2023, the market for wall-mounted range hoods was valued at around USD 1 billion and is expected to grow significantly due to the space-saving features offered by these hoods coupled with their use in open kitchens.

On the basis of Application: The application is segmented into residential and a commercial sector. The residential sub-segment is projected to experience the highest growth during the forecast period owing to rising urbanization as well as consumer preference towards contemporary kitchen designs.

On the basis of distribution channel, the market is segmented in to offline and online. Though offline channels now enjoy a considerable share, the online segment is expected to grow at a high CAGR owing to the convenience of e-commerce platforms and a wider available variety of products.

Country-Level Analysis

America: The U.S. range hood market is expanding on the back of increasing consumer consciousness surrounding indoor air quality combined with growing popularity of modular kitchens. With rise of smart homes, people are also buying more kitchen appliances that are IoT-enabled.

Germany: The industry in Germany is driven by innovation and high energy-efficient and technologically advanced kitchen appliances Market growth is driven by the country's strong housing industry and consumer preference for high end culinary kitchen products.

China– It is witnessing rapid urbanization, along with a rise in disposable incomes in recent times, which has increased the demand for modern kitchen appliances, such as range hoods. A big market with a growing consumer base and a greater focus on indoor air quality.

India: Fueled by a vast and continuously increasing group of middle class people and rapid urbanization, policies encouraging use of modular kitchens are driving demand for range hoods in the nation. Rising awareness among consumers is also contributing to the growth of health and hygiene in cooking environments.

Brazil- Brazil is showing significant growth in market due to the high modern kitchen renovation trend and the increased preference for open kitchen layout requiring required range hood.

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Competitor Analysis

The market for range hoods is highly competitive, with leading players focusing on innovation and strategic partnerships. Notable companies include:

Broan-NuTone LLC: The largest manufacturer of residential ventilation products in North America, Broan-NuTone encompasses a wide range of product categories. With a focus on energy efficiency and sustainability, the company recently expanded its product range with IoT enabled smart range hoods.

BSH Hausgeräte GmbH: A branch of the Bosch Group, BSH provides premium class home appliances for kitchens under brands including Bosch and Siemens. It's all about high-tech gadgets, like sensor-based automatic functioning and energy-efficient home appliance construction design, in its range hoods section.

Elica S.p.A — An Italian company known for its innovative and stylish range hoods, Elica merges state-of-the-art technology with trendy design. The company also has recently launched models equipped with advanced air purification system and IoT connectivity.

Faber S.p.A.: Italian-based Faber has high-quality range hoods for functionality and aesthetics. The recently released series of energy-efficient hoods includes one with a noise-reduction feature.

Whirlpool Corporation — Another large and global name in home appliances, Whirlpool produces a line of range hoods that are both dependable and effective. Keeping in mind the usability and accessibility, the company focuses on designs that ease the workflow, with built-in attributes such as LED lighting and easy to clean filters etc.

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Conclusion

This information opens up new avenues for the global range hood market, which is set to show significant growth due to the awareness generated among consumers about indoor air quality, the growing popularity of modular kitchens, and technological innovations in the kitchen appliance domain. The manufacturers are ensuring to evolve to the consumer preferences, and therefore, the dynamics of the market is expected to cover a significant portion of growth during the forecast period.

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