According to IMARC Group's latest research report, titled "Range Hood Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," presents a comprehensive analysis of the industry, covering range hood market size, opportunity, overview, statistics size, share, trends, demand, and growth prospects. The report also provides competitor and regional analysis and showcases the contemporary advancements in the global market.
The global range hood market size reached US$ 15.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.60% during 2023-2028.
A range hood is an essential kitchen appliance that is installed over a stovetop to capture smoke, steam, and odors created while cooking. It works by circulating air through a duct system that is connected to the outside of the house. The air is filtered to remove smoke and odors, while the steam is vented to the outside. It can also be utilized to reduce the amount of heat generated from the stovetop or range. It comes in a variety of designs, from sleek and modern to classic and traditional and is commercially available in numerous styles and sizes, and is the most effective way to keep your kitchen clean and free of excess smoke, steam, and odors. It is considered an important appliance for any kitchen, as they not only help to keep the air clean and free of smoke, steam, and odors but also helps to reduce the amount of heat generated in the kitchen.
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The rising need to maintain the cleanliness of indoor air quality among the masses majorly drives the global market. Along with this, the increasing adoption of range hoods in residential buildings for reducing the risk of fire by removing smoke and steam from the kitchen and carbon monoxide (CO) poisoning by venting the air outside is a major driving factor. In line with this, the rising construction and renovation activities, increasing demand for efficient storage, and space-saving are other growth-inducing factors. Apart from this, numerous manufacturers are focusing on developing innovative devices due to consumer preference for features such as wireless connectivity, temperature, optic and infrared sensors, and noise reduction, positively influencing the market. Furthermore, the integration of IoT technology into range hoods which assists in remote control, monitoring performance, providing alerts for filter change and replacement, smart scheduling, and automatic detection is creating a positive market outlook.
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