Americas $ 6.11 billion in range hood market to 2028: new

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Dublin, May 18, 2021 (GLOBE NEWSWIRE) – The Americas Kitchen Hood Market Size, Share and Trend Analysis Report by Product (Under Cabinet, Wall Mounted, Ceiling Mounted), by End User, by Distribution Channel and by Segment, 2021- 2028 “ the report was added to ResearchAndMarkets.com from offer.

The kitchen hood market size in the Americas is expected to reach USD 6.11 billion by 2028, registering a CAGR of 4.0% during the forecast period.

hanging lifestyles, exposure through travel, and design innovations set the tone for new modern living standards. With a higher spending capacity as well as improved infrastructure, the need for comfort in the kitchen has triggered a positive impact on the market.

Rising home values ​​have doubled homeowners’ equity, indicating a tendency for homeowners to feel wealthier and willing to spend money on home improvement. The online home improvement platform Houzz reported a 58% increase in project managers for home professionals in June 2020, compared to the same month the previous year.

Likewise, kitchen and bathroom renovation projects increased by 40%, according to the agency. According to the Home Improvement Research Institute (HIRI), Americans’ home improvement spending is expected to reach $ 439.9 billion in 2020, leading to an 8.7% increase in spending.

With a growing number of families viewing the kitchen as a central gathering place in the home, the focus is on renovating and improvising the area. For example, the Houzz Kitchen Trends 2019 study in the United States found that spending on renovating mid and large kitchens increased 10% from 2018.

Additionally, a growing number of millennials are buying homes, especially older homes that need more repairs. Millennials invest in more home improvement projects each year compared to other age groups, according to HomeAdvisor studies.

Growing infrastructural developments, along with new building permits in the region, are expected to drive the growth of the market. According to the US Census Bureau, private housing units authorized by building permits in November 2020 were at a seasonally adjusted annual rate of 1,639,000. This rate is 6.2% (1.5%) above the revised rate of ‘October of 1,544,000 and 8.5% (1.8%) above the November 2019 rate of 1,510,000.

In addition, the rapid construction in the commercial segment, especially in the hospitality sector, is also driving the demand for range hoods. The hospitality industry is a key supporting factor for the region’s hotel sector, leading to the construction of more hotels. The booming tourism and real estate industries along with various infrastructural developments in the hospitality sector will continue to drive the kitchen ventilation market during the forecast period.

Under cabinet products held over 42.7% of the Americas range hood revenue in 2020. These are the most common range hoods because the design of an under cabinet ventilation system is simple and versatile for use. ‘adapt to any kitchen style or design. The current trend of open shelving in a kitchen, as opposed to top cabinets, is drawing more attention to the installation of such range hoods.

New trends and innovations in range hoods have created immense opportunities in the market when it comes to product installation and design. For example, AKDY, a manufacturer of high-end kitchen and bathroom appliances, presented the Under Cabinet Range Hood collection containing detailed 3D drawings that can be used in kitchen remodeling projects.

Highlights of the Americas Range Hood Market Report

  • Canada is expected to register the fastest CAGR of 4.5% from 2021 to 2028. Steady growth in the number of restaurant joints and residential construction projects are the main factors driving demand for range hoods
  • The kitchen stoppage distribution channel dominated the market contributing over 57.7% of turnover in 2020
  • The residential end-user segment held the largest market share in 2020, contributing over 85.7% of total revenue due to its higher penetration among households.

Main topics covered:

Chapter 1. Methodology and scope

Chapter 2. Executive summary

Chapter 3. America Kitchen Hood Market Variables, Trends and Scope
3.1. Market introduction
3.2. Mapping of penetration and growth prospects
3.3. Industry value chain analysis
3.3.1. Analysis of sales / retail channels
3.3.2. Profit margin analysis
3.4. Market dynamics
3.5. Business environment analysis
3.5.1. Industry Analysis – Porter
3.6. Americas Range Hood Market Roadmap
3.7. Market entry strategies
3.8. Impact of COVID-19

Chapter 4. Analysis of consumer behavior
4.1. Consumer trends and preferences
4.2. Factors influencing the purchase decision
4.3. Adoption of consumer products
4.4. Observations and recommendations

Chapter 5. Americas Kitchen Hood Market: Product Estimates and Trend Analysis
5.1. Analysis of product movements and market share, 2020 and 2028
5.2. Under the Cabinet
5.3. Wall
5.4. Ceiling mounted

Chapter 6. Americas Kitchen Hood Market: End User Estimates and Trend Analysis
6.1. Analysis of end-user movements and market share, 2020 and 2028
6.2. Residential
6.3. Commercial

Chapter 7. Americas Kitchen Hood Market: Distribution Channel Estimates and Trend Analysis
7.1. Analysis of the movement of distribution channels and market share, 2020 and 2028
7.2. Online
7.3. Kitchen stops
7.4. Supermarkets and hypermarkets
7.5. Specialty stores
7.6. Local kitchen utensil stores

Chapter 8. Americas Kitchen Hood Market: Regional Estimates and Trend Analysis
8.1. Analysis of regional movements and market share, 2020 and 2028

Chapter 9. Competitive analysis
9.1. Key players, recent developments and their impact on the industry
9.2. Categorization of key companies / competitors (key innovators, market leaders, emerging players)
9.3. Vendor Landscape
9.3.1. Key Companies Market Share Analysis, 2020

Chapter 10. Company Profiles

  • Whirlpool Corporation
  • GE Appliances, a Haier company
  • Broan-NuTone, LLC
  • Robert Bosch GmbH
  • Haube Range Hood Co.
  • KOBE range hoods
  • Victory Range Hoods
  • Proline range hoods
  • Faber United States and Canada
  • Vent-A-Hood Ltd.

For more information on this report, visit https://www.researchandmarkets.com/r/ljz4jt


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