The global range hood market is expected to grow at a CAGR of over 6% during the period 2019–2025.
CHICAGO, IL, UNITED STATES, February 18, 2020 /EINPresswire.com/ — According to Arizton’s recent research report, Range Hood Market – Global Outlook and Forecast 2020-2025 is expected to grow at a CAGR of around 7% during the period 2019−2025.
Global Range Hood Market – Key Highlights:
1. Integrated range hoods was the largest segment in 2019 owing to the lack of kitchen space in most of the households in APAC and Latin America which is expected to grow at a CAGR of around 5% by 2025.
2. The ducted chimneys are preferred over ductless due to the increased exhausting feature which is expected to post an incremental sale of over 50 million units during the forecast period.
3. The range hoods with medium suction power is expected to remain as the dominant segment as it is suited for kitchens in countries like India. They are also preferred in commercial kitchens for the powerful suction capacity which is expected to grow at a CAGR of around 5% by 2025.
4. The residential application is expected to account for more than 50% of the total unit shipments by 2025.
5. The rise in number of modular kitchens and the stringent government regulations in hotels and QSR’s have enabled the surge in adoption of range hoods in the past decade.
6. APAC is expected to grow at the fastest CAGR of over 8% during the forecast period.
Range Hood Market Report – Key Offerings:
• Market Size & Forecast by Revenue | 2019−2025
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by installation, application, suction capacities, ventilation, distribution, and geography
• Competitive Landscape – Profile of 5 key vendors and 42 other vendors
The following factors are likely to contribute to the growth of the range hood market during the forecast period:
Rise in QSR and Hotels
Expanding Nuclear Families & Rising Women Employment
High Awareness of Benefits of Cooking Hood
Growth of IoT in Kitchen Appliances
Increase in Energy-efficient Smart Appliances
The study considers the present scenario of the global range hood market and its market dynamics for the period 2019−2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent companies operating in the market.
Major Product Offerings
Market Segmentation by Installation
Market Segmentation by Ventilation
Market Segmentation by Suction Capacities
Market Segmentation by Application
Market Segmentation by Distribution
Market Segmentation by Geography
Arizton Advisory & Intelligence
email us here
Source: EIN Presswire