NEW YORK, June 21, 2022 (GLOBE NEWSWIRE) — The Global Range Hood Market size accounted for USD 15,698 Mn in 2021 and is expected to reach USD 26,508 Mn by 2030 with a considerable CAGR of 6.2% during the forecast time-frame of 2022 to 2030.
Range Hood Market Dynamic
Stringent regulations by various regional governments regarding cleanliness and hygiene in restaurants and food chains have mandated the installation of range hoods. The growing number of restaurant chains throughout the world is propelling the range hood industry forward. And also the food-service establishments like to install advanced range hoods due to their ease of cleaning. The major function of the range hood is to improve kitchen indoor air quality. Moreover, these devices offer added advantages such as heat reduction, maintenance of air quality, and increased safety.
Range hoods protect everyone in the house by working as a filtering system, removing potentially hazardous, toxic, and even deadly particles. Almost no other kitchen appliance provides more important advantages than the vent hood. A range hood is a fan-hung mechanical system that extends well above the stove or cook top. Range hoods help to remove combustion products, fumes, floating fats, odors, vapor, and heat from the air through air cleaning and filtration from the house and kitchen.
The covid-19 pandemic has also significantly impacted the market with stay-at-home orders and safer-at-home advisories, Americans have become increasingly reliant on their household appliances. Consumers are relying on common kitchen appliances with greater frequency. According to the blog by Applied Marketing Science, Inc., 35-40% of consumers have turned to home-cooked meals for the first time as a result of the pandemic. This scenario is likely to cause greater attraction of consumers towards the market in the forthcoming years.
Product Insights
The under cabinet kitchen products segment held the largest revenue share of more than 42.7% in 2020. This high share is attributed to the fact that the under-cabinet range hood mounts directly beneath an over-the-range cabinet and blends into the design flow of the cabinets above and around the range or cook-top. Careful measurement of available dimensions in the under-cabinet area is important when choosing an under-cabinet range vent.
Furthermore, ceiling mount products have gained higher penetration among consumers. The increasing trend of kitchen remodeling in the country is expected to spur the demand for trendy ceiling-mounted kitchen exhaust fan. According to a report by the National Kitchen & Bath Association, a large number of people in the U.S. opted for kitchen renovation with a market value of USD 49.7 billion in 2016. The growing popularity of kitchen renovation is expected to have a positive influence on this range hood products owing to the greater availability of products of this category.
Smart Range Hood for Comfortable and Funny Kitchen
Manufacturers are focusing on developing innovative devices owing to consumer preference for smart features, such as noise reduction, wireless connectivity, and installation of temperature, optic, and infrared sensors, in the products. This factor is also likely to contribute to market growth.
TGE KITCHEN, as range hood manufacturer in China for 14 years, we developed our first SMART range hood. Gesture control is not the only innovation what we expected and process, we have a “smart assistant” built in the range hood, just speak directly to perform all the actions without touch while your hands are messy from cooking.
Sounds interesting? Check out the smart range hood from TGE KITCHEN:
Post time: Apr-03-2023
