November 2, 2021 06:30 ET | Source: Global Market Insight Company Global Market Insight Company

Selbyville, Delaware, November 2, 2021 (Global News Agency)-

According to the latest research by Global Market Insights Inc., by 2027, the range hood market revenue is expected to reach US$20 billion. The popularity of kitchen appliances and consumer awareness of product use are driving industry demand.

The rapid spread of the COVID-19 virus has adversely affected the range hood market on a global scale. Countries have adopted strict blockade measures as preventive measures to flatten the pandemic curve. However, as the number of COVID-19 cases has decreased since mid-2020, several governments have eased lockdown measures, and the market is expected to slowly improve its statistics.

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Ceiling range hoods are suitable for various lighting and easy-to-clean processes, and are accelerating their market demand. Market participants including Faber SpA and Falmec SpA are presenting their products at various exhibitions to increase their net sales. For example, in September 2021, Falmec SpA showcased its latest range hood products at the Area 30 exhibition in Germany, including under-cabinet and hoisting. This exhibition assisted the company to introduce its products to potential commercial customers.

The growing population and urbanization in the Asia-Pacific region have created a high demand for kitchen appliances. Regional well-known companies, such as TTK Prestige Limited, Hindware Homes and Hangzhou Robam Appliances Co. Ltd, are investing in product innovation research and development. For example, in March 2021, TTK Prestige Limited launched a new range hood series Oscar Chimney Range for the Indian market. The Oscar range hood has a suction capacity of 1,000 cubic meters per hour and is equipped with motion sensor technology.

Participants in the range hood industry are working to improve the efficiency and reliability of their products by adopting a variety of business strategies, including partnerships and acquisitions, in order to increase profitability. For example, in July 2021, FIME, a subsidiary of Elica SpA, acquired Electric Motors Company Srl and CPS Srl, suppliers of electric motors and household range hood fan systems. The acquisition will help the company use the expertise of Electric Motors Company Srl and CPS Srl in engine hood motor systems to improve the suction capacity of the engine hood.

Some of the key findings from the Range Hood Market Report include:

Well-known companies operating in this market include Ningbo Fangtai Kitchenware Co., Ltd., BSH Hausgerate GmbH, Faber SpA, Miele & Cie.KG, Samsung Electronics Co., Ltd., Kobe Range Hood, Braon-NuTone LLC, Falmec SpA, Whirlpool Corporation, Pacific Range Hoods, Inc., GE Appliances and Elica SpA

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Part of the report table of contents (TOC):

3.2 The impact of COVID-19 on the structure of the range hood industry

3.7.1.1 More and more fast food restaurants and food shops around the world

3.7.1.2 Increasing consumer purchasing power supports the popularization of household range hoods

3.7.1.3 Strict regulations on food hygiene and safety in Europe and North America

3.7.1.4 Modular kitchens in Latin America and Europe are becoming increasingly popular, and there is a demand for fuel for range hood systems

3.7.1.5 Raise consumer awareness of range hoods in the Asia-Pacific region

3.7.1.6 The rapid development of residential infrastructure in Australia, Japan and China

3.7.1.7 South Africa's kitchen appliance industry surges

3.7.2.1 High initial costs associated with range hoods

3.7.2.2 Weak consumer awareness in emerging economies

3.7.2.3 Get a wider exhaust system at low cost

Global Market Insights Inc., headquartered in Delaware, is a global market research and consulting service provider; it provides joint and customized research reports and growth consulting services. Our business intelligence and industry research reports provide customers with insightful insights and actionable market data designed and presented to help strategic decision-making. These detailed reports are designed through proprietary research methods and can be used in key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.