Market Size and Share:
According to a report by Expert Market Research, the Global Cooking Hood Market size reached a value of approximately USD 13.7 billion in 2022. The market is further expected to grow at a CAGR of 5.11% between 2023 and 2028, reaching a value of USD 18.3 billion by 2028. The growth of the market can be attributed to the increasing demand for energy-efficient and technologically advanced cooking appliances, as well as the rising awareness about the health hazards associated with indoor air pollution.
Price Analysis:
The price of cooking hoods varies depending on the type, size, and features of the appliance. Wall-mounted hoods are usually the most affordable, starting from around USD 50, while island hoods can cost anywhere between USD 200 and USD 2,000, depending on the size and design. Under-cabinet hoods are priced between USD 70 and USD 600, while downdraft hoods are the most expensive, ranging from USD 700 to USD 3,500.
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Trends and Drivers:
One of the major trends in the global cooking hood market is the increasing demand for smart hoods that can be controlled via mobile apps and voice assistants. Smart hoods offer features such as auto shut-off, automatic fan speed adjustment, and filter replacement alerts, making them more convenient and user-friendly. Other trends include the rise of eco-friendly and sustainable cooking hoods that use recyclable materials and consume less energy.
The primary drivers of the global cooking hood market are the growing popularity of open kitchens and the increasing demand for energy-efficient and technologically advanced kitchen appliances. Other drivers include the rising awareness about indoor air pollution and the health hazards associated with it, as well as the increasing number of new housing projects and renovations.
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Industry Analysis:
The global cooking hood market is highly competitive, with the presence of several established players and new entrants. The industry is characterized by the introduction of new products with advanced features and the increasing adoption of eco-friendly and sustainable materials. Key players in the market include Broan-NuTone LLC, Whirlpool Corporation, Panasonic Corporation, Miele, and Elica S.p.A.
Growth Forecast:
The global cooking hood market is expected to grow at a steady pace during the forecast period. The Asia Pacific region is expected to witness the highest growth, driven by factors such as rapid urbanization, increasing disposable income, and the rising demand for modern kitchen appliances. North America and Europe are also expected to contribute significantly to the growth of the market, due to the high adoption rate of energy-efficient and technologically advanced kitchen appliances.
Regional Analysis:
North America
The North America region is a mature market for cooking hoods, with a high adoption rate of energy-efficient and eco-friendly appliances. The United States is the largest market for cooking hoods in the region, driven by factors such as the increasing popularity of open kitchens and the rising demand for smart appliances.
Europe
The European market for cooking hoods is expected to witness significant growth in the coming years, driven by the increasing adoption of eco-friendly and sustainable materials and the rising demand for modern kitchen appliances. Germany, France, and the United Kingdom are the major markets for cooking hoods in the region.
Asia Pacific
The Asia Pacific region is expected to witness the highest growth in the global cooking hood market, driven by factors such as rapid urbanization, increasing disposable income, and the rising demand for modern kitchen appliances. China and India are the major markets for cooking hoods in the region.
Latin America
The Latin America region is a small market for cooking hoods, with low adoption rates due to the high cost of energy-efficient and technologically advanced appliances. However, the market is expected to witness significant growth in the coming years due to the increasing awareness about indoor air pollution and the health hazards associated with it.
Middle East and Africa
The Middle East and Africa region is a nascent market for cooking hoods, with low adoption rates due to the lack of awareness about the benefits of energy-efficient and eco-friendly appliances. However, the market is expected to witness significant growth in the coming years due to the rising demand for modern kitchen appliances and the increasing number of new housing projects.
Competitive Landscape:
The global cooking hood market is highly competitive, with the presence of several established players and new entrants. The market is characterized by the introduction of new products with advanced features and the increasing adoption of eco-friendly and sustainable materials. Key players in the market include Broan-NuTone LLC, Whirlpool Corporation, Panasonic Corporation, Miele, and Elica S.p.A.
Key Players:
• Broan-NuTone LLC
• Whirlpool Corporation
• Panasonic Corporation
• Miele
• Elica S.p.A.
• FABER S.p.A.
• Haier Group Corporation
• Kobe Range Hoods
• LG Electronics Inc.
• Robert Bosch GmbH
FAQs:
Q: What is a cooking hood?
A: A cooking hood is a kitchen appliance that is used to remove smoke, steam, and odors that are generated while cooking.
Q: What are the different types of cooking hoods?
A: The different types of cooking hoods include wall-mounted, island, under-cabinet, and downdraft hoods.
Q: What are the primary drivers of the global cooking hood market?
A: The primary drivers of the global cooking hood market include the rising demand for energy-efficient and technologically advanced kitchen appliances, the increasing awareness about indoor air pollution, and the growing popularity of open kitchens.
Q: Which region is expected to witness the highest growth in the global cooking hood market?
A: The Asia Pacific region is expected to witness the highest growth in the global cooking hood market, driven by factors such as rapid urbanization, increasing disposable income, and the rising demand for modern kitchen appliances.
Q: Who are the key players in the global cooking hood market?
A: The key players in the global cooking hood market include Broan-NuTone LLC, Whirlpool Corporation, Panasonic Corporation, Miele, Elica S.p.A., FABER S.p.A., Haier Group Corporation, Kobe Range Hoods, LG Electronics Inc., and Robert Bosch GmbH.
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