Home > Consumer Goods & Services > Appliances > Small Kitchen Appliances > Range Hood Market
Range Hood Market Size
- Report ID: GMI4421
- Published Date: Apr 2022
- Report Format: PDF
Range Hood Market Size
Range Hood Market size surpassed USD 15 billion in 2021 and is anticipated to witness over 6% CAGR between 2022 and 2028. Increasing number of quick service restaurants and the food service sector will augment the business expansion.
The rising demand for efficient storage & space-saving that optimizes floor usage in small spaces has led consumers to spend more on modular home constructions. Consumers are installing advanced range hood systems in smart kitchens to enhance aesthetics and the overall home comfort, creating robust growth opportunities. Companies are introducing systems with integrated IoT technologies to improve the overall house connectivity. Growing urbanization coupled with increasing government initiatives to renovate aging urban residential buildings will impact the industry statistics.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Range Hood Market Size in 2021: | USD 15 billion |
| Forecast Period: | 2022 to 2028 |
| Forecast Period 2022 to 2028 CAGR: | 6% |
| 2028 Value Projection: | USD 25 billion |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 300 |
| Tables, Charts & Figures: | 416 |
| Segments covered: | Product, Application, Distribution Channel |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
The availability of low-cost exhaust fan systems is hampering the range hood market growth. Window fans are primarily gaining popularity in residential applications on account of their low cost and ability to effectively draw smells, steam, and smoke out of the kitchen, challenging market expansion.
The COVID-19 pandemic affected the range hood industry marginally. Due to financial insecurities and a shift in consumer preference toward purchasing essential items during the first half of 2020, the market saw a dip in sales. However, the demand for range hoods observed an upward trend with the re-opening of key markets around the globe and the growing number of home renovation projects.
Frequently Asked Questions (FAQ) :
Range Hood Market Scope
