PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1638863
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1638863
Asia Pacific Range Hood Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032
Asia Pacific Range Hood Market reached USD 10.1 billion in 2023 and is projected to grow at a CAGR of 6.6% from 2024 to 2032. Key factors driving this expansion include rapid urbanization and significant residential construction activities. As urban areas expand, the demand for new housing projects rises to accommodate the growing population, increasing the need for modern kitchen appliances such as range hoods. This trend is particularly prominent in high-density areas where the demand for efficient and aesthetic kitchen solutions has surged.
The market segments by product into under-cabinet, wall-mounted, ceiling-mounted, and others, with the wall-mounted range hoods leading in popularity. In 2023, the wall-mount segment accounted for USD 5.5 billion of the market, expected to grow at a CAGR of 6.8% through the forecast period. Consumers are increasingly drawn to wall-mounted models for their functionality and style, offering a sleek appearance and effective removal of cooking fumes, smoke, and odors.
In terms of application, the range hood market is divided into residential and commercial segments. The residential segment held 67.9% of the market share in 2023 and is expected to maintain strong growth with a 6.7% CAGR. This growth can be attributed to rising urbanization, higher disposable incomes, and increased interest in home improvement. As consumers become more conscious of indoor air quality, demand for high-performing range hoods has risen. The market caters to diverse tastes with various product options, including wall-mounted, under-cabinet, and island hoods, while manufacturers are increasingly focusing on adding smart features and energy-efficient designs to appeal to environmentally conscious buyers.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $10.1 Billion |
| Forecast Value | $17.7 Billion |
| CAGR | 6.6% |
China dominates the Asia Pacific range hood market, fueled by urbanization, rising incomes, and rapid growth in residential construction. With an expanding middle class striving for modernized living spaces, the demand for range hoods has increased significantly. However, the market faces challenges despite its growth trajectory. A lag in innovation among domestic manufacturers has created a gap, as many companies are investing minimally in R&D, which limits their ability to adapt to evolving consumer preferences. This lack of innovation could impact the sector's competitive edge in the long term as other global players focus on innovation to meet changing market demands.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definition
- 1.2 Base estimates & calculations
- 1.3 Forecast parameters
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Factors affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
- 3.2 Supplier landscape
- 3.3 Profit margin analysis
- 3.4 Key news & initiatives
- 3.5 Regulatory landscape
- 3.6 Impact forces
- 3.6.1 Growth drivers
- 3.6.1.1 Urbanization and increased housing developments
- 3.6.1.2 Rising disposable income and consumer spending
- 3.6.1.3 Growing awareness of indoor air quality
- 3.6.2 Industry pitfalls & challenges
- 3.6.2.1 Stringent regulatory standards
- 3.6.2.2 Intense competition and price sensitivity
- 3.6.1 Growth drivers
- 3.7 Growth potential analysis
- 3.8 Customer buying behavior analysis
- 3.9 Porter's analysis
- 3.10 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Product, 2021 - 2032, (USD Billion) (Thousand Units)
- 5.1 Key trends
- 5.2 Under Cabinet
- 5.3 Wall Mount
- 5.4 Ceiling Mount
- 5.5 Others
- 5.6 Other devices
Chapter 6 Market Estimates & Forecast, By Application, 2021 - 2032, (USD Billion) (Thousand Units)
- 6.1 Key trends
- 6.2 Residential
- 6.3 Commercial
- 6.3.1 Restaurant
- 6.3.2 Hotel
- 6.3.3 Cafe
Chapter 7 Market Estimates & Forecast, By Distribution Channel, 2021 - 2032, (USD Billion) (Thousand Units)
- 7.1 Key trends
- 7.2 Direct selling
- 7.3 E-Commerce
- 7.4 Others
Chapter 8 Market Estimates & Forecast, By Countries, 2021 - 2032, (USD Billion) (Thousand Units)
- 8.1 Key trends
- 8.2 Asia Pacific
- 8.2.1 China
- 8.2.2 Japan
- 8.2.3 India
- 8.2.4 South Korea
- 8.2.5 Australia
Chapter 9 Company Profiles
- 9.1 AB Electrolux
- 9.2 BSH Hausgerate GmbH
- 9.3 Dacor, LLC
- 9.4 Faber S.p.A.
- 9.5 Gorenje, d.o.o.
- 9.6 Hafele GmbH & Co KG
- 9.7 Kohler Co.
- 9.8 LG Electronics Inc.
- 9.9 Miele & Cie. KG
- 9.10 Panasonic Holdings Corporation
- 9.11 Samsung Electronics Co., Ltd.
- 9.12 SMEG S.p.A.
- 9.13 Teka Industrial, S.A.
- 9.14 Vatti Corporation Limited
- 9.15 Whirlpool Corporation
