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Range Hood Market Share
The market is fragmented, with several regional companies operating on a global scale. Together these companies hold a market share of 5%-10% of the total market. Companies in the industry are investing heavily in R&D to launch new products. They are using energy-efficient LED lighting, digital display controls, perimeter suction filters, and low-power electronics to cut down on energy use. An advanced digital display control panel on the range hood adds new features, with high-quality buttons and an LED panel to show these functions. Companies like Broan, Inc., Air King America, LLC, and Electrolux are following the ENERGY STAR label, which helps them save a lot of electricity. They are also developing better motors and blowers to reduce power use and noise, making the products more comfortable for customers and boosting the business.
Range Hood Market Companies
Major players operating in the industry are:
- Asko Appliances
- BSH
- Captive-Aire Systems
- Elica
- Empava Appliances
- Faber
- Falmec
- Fotile
- GE Appliances
- Kitchen Aid
- Kobe Range Hoods
- Pacific Range Hood
- Panasonic
- Samsung Electronics
- Viking Range
- Windster Hoods
What factors are driving the growth of the market in the Asia Pacific region?
In the Asia-Pacific region, rapid urbanization and rising disposable incomes are fueling investments in premium kitchen appliances, including range hoods. Theres a growing preference for compact, multifunctional designs suitable for smaller living spaces.
Who are some of the key players in the range hood market?
Key players in the industry include Asko Appliances, BSH, Captive-Aire Systems, Elica, Empava Appliances, Faber, Falmec, Fotile, GE Appliances, Kitchen Aid, and Kobe Range Hoods.
How large is the global range hood market?
The global range hood industry was valued at USD 19.9 billion in 2023 and is projected to expand at a CAGR of 6.4% from 2024 to 2032. The rapid growth of the quick-service restaurant and food sector can be attributed to increasing consumer spending on dining out.
Which segment holds the maximum share in the market based on product type?
The wall mount segment dominates the market, generating approximately USD 8.7 billion in revenue in 2023. It is forecasted to grow at a CAGR of 6.6% during the projected period.