Range Hood Market Size Worth $13.82 Billion By 2025


Posted July 16, 2020 by sitakant

The global range hood market size is anticipated to reach USD 13.82 billion by 2025 registering a CAGR of 4.3%, according to a new report by Grand View Research, Inc.

 
The global range hood market size is anticipated to reach USD 13.82 billion by 2025 registering a CAGR of 4.3%, according to a new report by Grand View Research, Inc. Extensive usage of IoT devices and smart features in range hood devices is expected to be the key factor driving the market. Furthermore, changing lifestyles due to busy work schedules along with increasing number of hotels and food chains, particularly in developing countries like India and China, are accelerating the market growth.
Stringent regulations by governments to ensure cleanliness and hygiene in commercial kitchens is also likely to augment the demand for these products over the forecast period. For instance, in India, Serve Safe, a nationwide initiative by the Food Safety and Standards Authority of India, ensures the safety of food. The under cabinet hood product type segment accounted the highest market share in 2018 and is projected to maintain its leading position during the forecast years. This growth can be attributed to the easy installation and affordability and compatibility of these devices with different kitchen designs.
Moreover, the duct transports smoke and particles out of the kitchen whereas other ductless versions recirculate the air inside. Ceiling hoods are expected to witness the highest CAGR of 4.8% from 2019 to 2025. Growth number of kitchen remodeling activities is anticipated to drive the demand for ceiling-mounted hoods, thereby boosting the segment growth. The offline distribution channel segment led the global range hood market accounting for the highest market share of more than 70% in 2018. However, rising popularity of e-commerce platforms and usage of smart devices, such as mobile phones and tablets, are expected to drive the online segment.
For PDF sample Copy or More Details please visit link @: https://www.grandviewresearch.com/industry-analysis/range-hood-market
Range Hood Market Report Highlights
• Online distribution channel is anticipated to be the fastest-growing segment over the forecast years on account of extensive usage of smartphones and e-commerce platforms for shopping
• Moreover, benefits offered by online portals like easy payment options, free installation, warranty, etc. are anticipated to spur the segment growth in futures
• Ceiling mount hood product type segment is estimated to witness the highest CAGR of 4.8% from 2019 to 2025
• North America was the dominant regional market in 2018. However, APAC is anticipated to expand at the fastest CAGR of 5.0% during the forecast period
• Some of the leading companies in the market include Asko Appliances; Broan, Inc.; BSH Home Appliances Corp.; Elica S.p.A.; Faber S.p.A.; Falmec S.p.A.; Miele, Inc.; Panasonic Corp.; Samsung Electronics; and Whirlpool Corp.
To request Research report sample copy with TOC please visit @: https://www.grandviewresearch.com/industry-analysis/range-hood-market/request/rs1
Range Hood Market Segmentation
Grand View Research has segmented the global range hood market on the basis of product type, distribution channel, and region:
Range Hood Product Type Outlook (Revenue, USD Million, 2015 - 2025)
• Under Cabinet
• Wall Mounted
• Ceiling Mount
• Others
Range Hood Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
• Offline
• Online
Range Hood Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
o U.S.
• Europe
o Germany
o U.K.
• Asia Pacific
o China
o India
• Central & South America
o Brazil
• Middle East & Africa
o South Africa
For Inquire before buying please visit @: https://www.grandviewresearch.com/inquiry/6179/ibb
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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Issued By sitakant
Country United States
Categories Business , Industry , Manufacturing
Tags range hood market size
Last Updated July 16, 2020