Latin America Range Hood Market

Latin America Range Hood Market Size

The Latin America range hood market size was valued at USD 394 million in 2023 and is estimated to grow at a CAGR of over 5.9% from 2024 & 2032. The market in Latin America is aided by increasing urbanization and construction of residential units.

In response to greater rural-to-urban migration because of new job openings and various lifestyle choices, the housing demand has increased in urban areas, particularly in multifamily and compact homes. This goes hand in hand with the increasing penetration of modern kitchens, where range hoods are used to aid in indoor air quality as well as ensuring a better cooking experience. Builders and homeowners are paying more attention to the design and functionality of kitchen ventilation systems.

Also, the practice of remodeling properties in cities has boosted the demand for range hoods. To enhance their homes, customers are upgrading them and emphasizing kitchen appliances. It is also worth mentioning that in Latin America, a rise in health consciousness is increasing the demand for better indoor air quality, which ranges provided by extracting smoke, unpleasant odors, and airborne pollutants. New age range hood systems are being installed in both new and renovated buildings to satisfy these expectations. Buildings and structures are being constructed in a way that is more compatible with today's expectations of a better and healthier living environment.

Latin America Range Hood Market Trends

• The Latin American range hood market index is changing with the help of two primary trends, which are energy efficiency and adoption of smart technology. To satisfy this growing consumer demand, manufacturers began launching appliances that had better airflow systems and LED lights as add-ons that lessen energy consumption but do not hinder overall performance.
  
• Also, smart technology is turning range hoods from merely functional kitchen devices into sophisticated gadgets. WiFi and smartphone capability enable users to operate the range hood from a distance and to check the air quality within the home.
  
• This movement towards smart devices is just one aspect of a more extensive growing trend in home automation, and it captures the interest of consumers who are looking for new and cutting-edge appliances for a remodeled kitchen.
  

Latin America Range Hood Market Analysis

• In many parts of Latin America where economic and social environments are in very bad shape, the rangehood market shall always suffer due to their skimping. Since purchasing kitchen appliances isn't a priority and the current inflation rate is rather high, consumers won't be willing to spend large amounts.
  
• Additionally, the devaluation of currency coupled with fluctuating interest rates adds further uncertainty, which limits profitability. Lastly, economic insecurities lead to shattering supply chains and making sourcing of raw materials a cumbersome task, which does increase the production costs overall. Because of such fractures and flaws in the economy, the market for range hoods may dwindle in sales.
  

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The Latin America range hood market, by product, is identified into three segments, which are under cabinet, wall mount, ceiling mount, and others. In contrast, the under-cabinet range hoods were determined to be the largest revenue contributor in Brazil's range hoods market, accounting for about USD 170.2 million in revenue during the year 2023 with an estimated target CAGR of around 6% during forecast period 2024 to 2032.

• Showing similar trends to Western nations, modern range hood varieties are becoming popular in Brazil, and urban populations are adopting more compact cooking styles with the adoption of built-in cabinets, of which the installation location of range hoods is quite critical.
  
• The demand for compact range hoods has been increasing due to the widespread trend of urbanization and the increased interest in home renovations. These range hoods stand out with their unique design, which acts as an appealing incentive for modern homes.
  
• Furthermore, these range hoods create a convenient solution allowing maximization of kitchen space. As a result, range hoods equipped underneath cabinets are being increasingly used in kitchens across Latin America.
  

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The potential use of range hoods is vast due to their classification into residential usage and commercial usage. The residential usage of range hoods has seen significant growth across the globe with a whopping 52.4% share of the total range hood market share in 2023 alone, and it is expected to rapidly expand in the coming forecast period by growing further by 6%.

• The Latin American markets have seen rapid urbanization and improvement in disposable incomes, which has paved the way for an increase in demand for the residential segment for the use of modern range hoods in their kitchens. The newly constructed homes are built keeping the efficiency and the design of the range hoods in mind.
  
• More and more consumers are concerned about indoor air quality as well, due to the improved construction and designs of new house kitchens, and these range hoods are being conveniently used to perfectly eliminate the smoke created while cooking.
  

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In 2023, Brazil raked in an estimated USD 180.3 million in revenue in the range hood market alone, making them the leaders of the market in Latin America. Additionally, it appears that they are going to grow even further and at a rate of 6.3 CAGR during 2024 to 2032.

• With the increase in income and the growth of cities, the range hood market in Brazil is also expanding, and with it, the demand for stylish and efficient ventilation systems with modern kitchens.

In response to this new shift in market demand, top brands have made available products with sleek designs, smart features, and energy-saving tech. Not only are these new products making the air in the kitchens better, but the users are also able to stay in tune with the postmodern stylistic approach of Brazil.

Latin America Range Hood Market Share  

The range hood market of Latin America is observed to be fragmented whereby the major players have a market of about 25% to 30% of the overall market share. The environment for the demand for range hoods in Latin America has been improving thanks to the increase in urban regions and heightened consumer concern about indoor air quality. Such evolution has prompted companies to include more quantitative research in their product innovative efforts. Marketing efforts have also begun emphasizing more on the beauty of the products rather than just the range hood's performance, something that is consistent with contemporary household styling and built-in appliance fashion in consumers.

Latin America Range Hood Market Companies

Major players operating in the Latin America’s range hood industry include:

• Bertazzoni S.p.A.
• Broan-NuTone LLC
• Controladora Mabe, S.A. de C.V.
• Electrolux AB
• Fisher & Paykel Appliances Limited
• Frigidaire, a brand of Electrolux AB
• GE Appliances, a Haier company
• Kraus USA, Inc.
• LG Electronics Inc.
• Panasonic Holdings Corporation
• Robert Bosch GmbH
• Samsung Electronics Co., Ltd.
• Viking Range, LLC
• Whirlpool Corporation
• ZLINE Kitchen and Bath, LLC
  

Latin America’s Range Hood Industry News

• In October 2023, Broan-NuTone, one of the strongholds of the kitchen hood sector, unveiled a collection of kitchen hoods that focus on the needs of modern urban living. The newly introduced items have innovative technology, as well as eco- and user-friendly design elements that improve kitchen ventilation, as well as its visual appeal.
  

The Latin America range hood market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) and volume (Thousand Units) from 2021 to 2032, for the following segments:

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Market, By Product

• Under cabinet
• Wall mount
• Ceiling mount
• Others

Market, By Application

• Residential
• Commercial
  • Restaurant
  • Hotel
  • Café

Market, By Distribution Channel

• Direct selling
• E-commerce
• Others

The above information is provided for the following regions and countries:

• Latin America
  • Brazil
  • Mexico
  • Argentina