Range Hood: Introduction
- Range hood is a device that has a mechanical fan which hangs above the cooktop or stove. Range hoods remove combustion products, smoke, fumes, airborne grease, steam, and heat from the air by clearing of the air and filtration.
Key Drivers of the Global Range Hood Market
- Increasing number of food chains globally is driving growth of the kitchen hood market. Food chain companies prefer to install advanced kitchen hoods for its easy cleaning ability.
- Rising working population at the global level is expected to boost the usage of this product among residential consumers. Governments of different countries have stringent regulations pertaining to the cleanliness of food manufacturing companies. Furthermore, these devices have added features such as maintenance of air quality, heat reduction, and increased safety, which is likely to drive the market in the next few years.
- Increasing consumer spending through online distribution channels is also likely to propel market growth. Key companies are offering their products through online and offline channels to increase their customer base.
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Availability of Low Cost Alternatives to Hamper the Global Range Hood Market
- Maintenance cost of range hood products is very high. Moreover, suitable alternative products including exhausts are available at a cheaper price. This factor will slow down the market growth in the coming years.
Asia Pacific the Dominant Market Set to Expand at a Higher Pace
- Asia Pacific is estimated to be the fastest growing region of the global range hood market. The rising working population is investing in advanced kitchen equipment. Furthermore, rising disposable income in developing economies such as China and India is expected to boost the market growth in the near future.
- North America is the largest market for kitchen hood products. Consumers of this region prefer to use advanced products that consume less energy. Companies in North America are working on product development strategies which support product demand. U.S. based company, North American Kitchen Solutions, Inc. launched a product namely UL710 Type 1 hood. This product operates without a factory cut duct connection, which reduces operational cost.
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Key Players Operating in the Global Market
Competition in the global range hood market is very high. Large number of small and large scale players are present in the market. Companies are opting for various strategies to expand their market share including merger & acquisition, and product innovation and development. For example, India based company Faber started offering chimneys without filter. This product makes lower noise than similar products. Moreover, it also does not require regular cleaning.
A few of the key players operating in the global range hood market are listed below:
- Asko Appliances
- Broan, Inc.
- BSH Home Appliances Corp.
- Elica S.p.A.
- Faber S.p.A.
- Falmec S.p.A.
- Miele, Inc.
- Panasonic Corp.
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