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Latin America Range Hood Market Trends

Report ID: GMI12163
Published Date: Nov 2024
Report Format: PDF

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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.

Authors: Avinash Singh , Sunita Singh

Frequently Asked Questions (FAQ) :

The market size for range hood in Latin America reached USD 394 million in 2023 and is set to grow at a 5.9% CAGR from 2024 to 2032, driven by increasing urbanization and housing development.

The residential segment held a 52.4% share of the total market in 2023 and is anticipated to grow at a 6% CAGR until 2032, driven by rapid urbanization, higher disposable incomes, and a shift towards modern kitchen designs.

The Brazil market was valued at approximately USD 180.3 million in 2023 and is expected to witness a 6.3% CAGR till 2032, fueled by the growing demand for efficient and stylish ventilation solutions in expanding cities.

The key players in the industry include Bertazzoni S.p.A., Broan-NuTone LLC, Controladora Mabe, S.A. de C.V., Electrolux AB, Fisher & Paykel Appliances Limited, Frigidaire, GE Appliances, Kraus USA, Inc., LG Electronics Inc., Panasonic Holdings Corporation.