Press release
Range Hood Market Future Outlook - US$ 10 BN Revenue by 2026 | Elica, Broan-NuTone, The Vent-A-Hood Company, Faber
Range Hood Market
The residential sector has been one of the major revenue grounds for stakeholders as far as the adoption of range hood is concerned, as it tends to bring style and add aesthetic value to the home, along with enhancing air quality and home value. With the surge of sleek and stylish kitchen appliances, range hood has become the linchpin and decorative feature in the kitchen. To reiterate, range hood helps improve air quality by obliterating odors, grease, smoke that are released while cooking. Global Market Insights, Inc. predicts heightened investment in the installation of residential range hood.
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Global Market Insights, Inc. projects range hood market size to exceed US$ 10 bn by 2026.
The emergence of smart range hood has augured well for the range hood market as end-users vie to offer seamless experience to customers. The inclusion of touch control and LED lighting has complemented smart range hood. Stakeholders are increasingly integrating LED lighting to conserve energy and play invaluable role in conserving environment.
Range hood market size is poised to increase in the wake of burgeoning millennial- and gen-Z population. The tendency to add charm and elegance, and urgency to ward off irritants, odors, and grease which are expelled into the air have signified the relevance of range hoods. One of the common trends in kitchen designing has been the inclination to remove walls in the kitchen to make a spacious environment. Along with reducing the amount of toxic air, range hood has become popular to help cut down development of germs, bacteria and mold in the kitchen.
Commercial kitchen has been a major recipient of range hoods, with wall-mount gaining overarching traction. Consumers are vividly inclined towards wall mount commercial wood for it offers seamless ventilation power.
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Grime and grease deposits tend to coagulate and turn into flammable glue-like substance inside the commercial kitchen hood system, thereby placing customers, employees and assets into potential danger of fire emergency. Range hood, thus, has gained traction in hotels and restaurants. The expansion of Quick Service Restaurants (QSRs) and food outlets has added further impetus to the commercial range hood systems. As such, commercial range hood system segment is anticipated to expand substantially during the forecast period.
APAC region is expected to offer lucrative opportunities to players vying to expand their footprints. The region is indicative of an expanding construction industry and end-users are increasingly inclined to add aesthetic value to their home, thereby boosting range hood market share. Not to mention, the continent is also indicative of a growing F&B sector and increasing restaurants and the like, further augmenting the demand for range hoods.
Presence of prominent manufacturing companies such as Elica, Broan-NuTone, Vent-A-Hood, Faber have further presented the possibility of a positive North America range hood market forecast
Related News: https://www.globenewswire.com/news-release/2019/11/21/1950589/0/en/Range-Hood-Market-value-to-hit-USD-10-bn-by-2026-Global-Market-Insights-Inc.html
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.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
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