Latin America Range Hood Market Size - By Product, By Application, By Distribution Channel, Forecast, 2024 – 2032
Report ID: GMI12163
|
Published Date: November 2024
|
Report Format: PDF
Download free sample
Get a free sample of Latin America Range Hood Market
Get a free sample of Latin America Range Hood Market
Is your requirement urgent? Please give us your business email for a speedy delivery!
Buy Now
Immediate Delivery
$2,763 $3,250
15% off
$3,000 $3,750
20% off
$4,025 $5,750
30% off
Buy now
Premium Report Details
Base Year: 2023
Companies covered: 15
Tables & Figures: 83
Countries covered: 3
Pages: 160
Download Free Sample
Latin America Range Hood Market Size
The Latin America range hood market size was valued at USD 394 million in 2023 and is estimated to grow at a CAGR of over 5.9% from 2024 and 2032. Urbanization and housing development are key drivers in the market. As urban migration increases due to employment and lifestyle opportunities, demand for housing, especially multifamily units and compact living spaces, has risen. This trend coincides with growing interest in modern kitchens, where range hoods are becoming crucial for maintaining indoor air quality and improving cooking experiences. Homeowners and builders are increasingly prioritizing kitchen ventilation solutions that combine contemporary design with functionality.
Additionally, the trend of home renovations in urban areas is also boosting range hood demand. Homeowners are investing in upgrades to enhance their living spaces, focusing on efficient kitchen appliances. Increasing health consciousness among Latin American consumers is driving demand for improved indoor air quality, which range hoods provide by removing smoke, odors, and airborne particles. Consequently, both new construction and renovation projects are incorporating advanced range hood systems to meet consumer expectations for modern and healthier living environments.
Latin America Range Hood Market Trends
The Latin American range hood industry is evolving, driven by two key trends, energy efficiency and smart technology. Consumers are increasingly seeking energy-efficient appliances, prompting manufacturers to develop models with improved airflow systems and LED lighting that save energy without compromising performance. Smart technology is also transforming range hoods into high-tech kitchen devices. Features like Wi-Fi connectivity and smartphone compatibility allow users to control their range hoods remotely and monitor air quality. This shift towards smart appliances reflects a broader trend in home automation, appealing to tech-savvy consumers who want innovative kitchen solutions.
Latin America Range Hood Market Analysis
Economic instability poses a significant challenge to the Latin American range hood industry. During economic downturns, consumers prioritize essential purchases over kitchen appliances, leading to decreased demand. High inflation, currency devaluation, and fluctuating interest rates make it difficult for manufacturers to maintain stable pricing and profitability. Moreover, economic instability often disrupts supply chains, causing challenges in sourcing materials and maintaining production levels. These disruptions can increase costs for manufacturers, who may then pass these expenses on to consumers, further dampening sales in the market.
Based on product, the Latin America range hood market is segmented into under cabinet, wall mount, ceiling mount and others. The under-cabinet segment dominated the market in 2023, generating a revenue of around USD 170.2 million of the total market in 2023, and is expected to grow at a CAGR of 6% in the forecast timeframe. Under-cabinet range hoods are becoming increasingly popular in Latin America, especially in urban areas with smaller kitchens. These space-saving appliances offer practical ventilation solutions without compromising on style.
Mounted discreetly beneath kitchen cabinets, they efficiently remove cooking odors and smoke while maintaining a sleek look. The growing trend of home renovations and the rise of urban living have fueled demand for these compact range hoods. Homeowners are drawn to their ability to blend functionality with modern design, making them an attractive choice for kitchen upgrades. As more people seek to maximize space in their homes, under-cabinet range hoods are proving to be a smart and stylish solution for Latin American kitchens.
Based on application, the Latin America range hood market is classified into residential and commercial. The residential segment dominated the market in 2023, with a share of around 52.4% of the total market share and is expected to grow at a CAGR of 6% through 2032. This growth stems from rapid urbanization, higher disposable incomes, and a shift towards modern kitchen designs.
As more homeowners renovate or build new homes, they're increasingly opting for efficient and stylish range hoods. This trend isn't just about aesthetics, it reflects a growing awareness of indoor air quality. Consumers are looking for range hoods that not only complement their kitchen design but also effectively remove cooking odors and pollutants.
Brazil range hood market size dominated around USD 180.3 million in 2023 and is expected to witness a CAGR of 6.3% till 2032. Brazil's market is booming as cities grow and incomes rise. Homeowners now seek efficient, stylish ventilation that complements modern kitchens. In response, top brands are rolling out products with sleek designs, smart features, and energy-saving tech. These new offerings not only improve air quality but also add a touch of sophistication to Brazilian kitchens, reflecting the country's evolving culinary culture and home design trends.
Latin America Range Hood Market Share
Latin America’s range hood industry is fragmented, with prominent players holding a market share of 25%-30% of the total market share. In the Latin America market, companies generally recognize the growing demand for stylish and efficient kitchen ventilation solutions driven by urbanization and increased consumer awareness about indoor air quality. Brands are focusing on innovation, integrating smart technologies into their products to enhance functionality and energy efficiency. Additionally, companies are investing in marketing strategies that emphasize the aesthetic appeal of their products, aligning with trends in home design and consumer preferences for modern appliances.
Latin America Range Hood Market Companies
Major players operating in the Latin America’s range hood industry include:
Latin America’s Range Hood Industry News
The Latin America range hood market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) and volume (Thousand Units) from 2021 to 2032, for the following segments:
Click here to Buy Section of this Report
Market, By Product
Market, By Application
Market, By Distribution channel
The above information is provided for the following region and countries: