IoT to transform Kitchen Range Hood Market
Arizton’s recent market research report the global range hood market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The study includes insights by Installation (integrated, wall-mounted, island, and downdraft), Ventilation (duct and ductless), Suction Capacities (low, moderate, and high), Application (commercial and residential), Distribution (offline and online stores), and Geography (North America, APAC, MEA, Europe, and Latin America).
The global range hood market is expected to grow at a CAGR of over 6% during the period 2019−2025.
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Range hoods are used in residential and commercial kitchens for ventilation purposes. The growth in modular kitchen and the demand for convenient kitchen appliances are major drivers for the kitchen range hood market. Kitchens have been witnessing a sea change during decades. With the rising disposable income and increased demand for convenience goods, carpenter-made kitchens have been replaced by modular kitchens. They are also referred to as ready to install cabinets, which can be customized according to the consumer preference. Modular kitchens have enforced the faster adoption and penetration of range hoods. They are more effective than exhaust fans as they have the freedom of placement and the capacity to let out smoke, oil, and grease based on the suction power. Kitchen range hood comprises motor, lights, ducts, and filters. They come with varied suction capacities and are classified as integrated, wall mounted, island, and downdraft based on installation type. The kitchen range hood market is highly penetrated in Europe and North America, followed by APAC, which is expected to emerge as the fastest growing market during the forecast period.
The leading drivers and trends driving the growth of the global kitchen range hood market are discussed below:
Growth in Quick Service Restaurants (QSR)
The global hotel industry is expanding rapidly with the highest number of hotel constructions in the pipeline. The number of hotel construction projects in pipeline in 2019 stood at 13,573, which was a 7% rise as compared to the previous year. It is also estimated that the US accounts for 41% of the global construction pipeline followed by China at 20%. Hence, commercial kitchens require the installation of effective range hoods to allow smoke out and maintain hygienic standards. In addition, renovation projects going on in the hospitality sector, is expected to increase during the forecast period, thereby propelling the kitchen range hood market growth. Moreover, the world is witnessing a surge in the number of QSR. QSRs are gaining momentum due to quick deliveries and competitive pricing, which attract consumers. QSRs are witnessing high growth potential in countries such as India, China, where there is an increased preference for fast foods.
Growth in Awareness on Properly Ventilation
With the rise in health conscious, people have realised the importance of ventilation in the cooking area and are increasingly concerned about the drawbacks arising out of improper ventilation. Exhaust fans are slowly replaced by kitchen hoods, as they are more effective in the ventilation process. The reach of exhaust fans market is growing a high number of people are becoming aware of the effect of the air inside the cooking zone has on the individual’s health. There are high chances of air pollutants getting inhaled by the residents in the form of steam, grease, and smoke, which affect the respiratory process. Hence, the installation of kitchen range hood is witnessing an increase as they are capable to draw out smoke through baffles and mesh filters. They are also effective in reducing the excess heat in the kitchen. More than 60% of the population is aware of adverse effects of poor air quality in kitchens.
High Popularity of IoT-enabled Devices
The growing number of smart homes is likely to lead to the increase in installation of smart and IoT enabled devices such as ovens, refrigerators, and range hoods. These devices are designed in a way such that they can make lives easier and safer. For instance, the introduction of IoT-based range hoods by Hindware “Optimus iPro” can be a gamechanger in the industry. It comes with auto clean facility and can be operated remotely with the help of smartphones. Moreover, it has adopted a blue ocean strategy in India as the number of IoT-based range hoods is very low. This can attract and influence a large number of market players in India to adopt the technology and stand out of the competition.
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Elica, Vent-A-Hood, BROAN, Haier, and Midea are identified as prominent vendors in the global kitchen range hood market.
The complete overview of the latest market research report on the global range hood market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges and provides market sizing and forecast for major geographical regions and key countries.
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