According to the latest research study by Global Market Insights, Inc, the global range hood market is expected to record 4% CAGR during the forecast period 2019-2026

Selbyville, DE -- (SBWire) -- 05/20/2020 --The range hood market is poised to receive noteworthy gains over the coming years on account of growing demand for modular kitchens. Rise in disposable income has encouraged people to move in modern homes that are equipped with modular kitchen setup. Increasing demand for such modular kitchens could drive the adoption of range hood systems that matches with the kitchen's overall aesthetics.

Regions like Europe and North America are experiencing an exponential rise in ceiling mounted range hood system demand owing to increasing consumer inclination toward modular kitchens. These machines are usually designed for modern kitchens where in stoves or hobs are installed at the center of the kitchen area, enabling a considerable ease in cooking. Ceiling mount systems come in numerous types of material, colors, sizes, and shapes. These features makes it aesthetically ideal for modular kitchens and gives kitchen designers an option of saving space.

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To make range hoods more attractive, manufacturers have begun integrating LED lighting in their newer models. This not only makes the system more attractive but also benefits the user by saving a significant amount of energy. Considering these aspects, Global Market Insights, Inc., forecasts that the range hood market may cross USD 10 billion by the year 2026.

Top Industry Players –

Asko Appliances,
Broan, Inc.,
BSH Group,
CaptiveAire Systems,
Elica S.p.A.,
Faber S.p.A,
Falmec S.p.A.,
Fotile Overseas Kitchen Appliance,
KOBE Range Hoods,
Miele, Inc.,
Panasonic Corporation,
Samsung Electronics,
Vent-A-Hood,
Viking Range, LLC,
Whirlpool Corporation,
Windster Hoods,
Zephyr Ventilation

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In terms of application, range hood systems cater to the commercial and residential sector. Commercial range hood systems are projected to garner significant gains owing to the rapid growth in the foodservice industry. Over the years, food trucks & trailers have seen a significant rise in popularity, which could massively support the adoption of cooker hood systems. Generally, these trucks come with highly modified exhaust systems that can work effectively in smaller spaces.

Rapid expansion of food joints and Quick Service Restaurants (QSR) in Asia Pacific and North America could propel the demand for commercial hood systems. Governments in North America have started to impose stringent food safety & hygiene norms which could enhance the industry outlook in the long run.

Canada is emerging as one of the prominent countries in North America that could come up as a lucrative market for range hood companies. Factors like high demand for modular kitchens, growing consumer awareness, and steady development in the foodservice industry could benefit the regional industry landscape overtime.

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Canada's major states like Vancouver and Toronto are recording high sales in advanced kitchen equipment like exhaust & ventilation systems, smart appliances, and refrigeration & cooking systems. Moreover, strong presence of key industry players such as Faber, Broan-NuTone, Elica, and Vent-A-Hood across Canada could further support regional kitchen hood industry growth.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.