Americas Range Hood Market: Residential End-User Segment Held The Largest Share

 Americas Range Hood Industry Overview

The Americas range hood market size is expected to reach USD 6.11 billion by 2028, registering a CAGR of 4.0% over the forecast period, according to a new report by Grand View Research, Inc. Changing lifestyles, exposure through traveling, and design innovations have set the pace for new modern standards of living. With higher spending capability as well as improved infrastructure facilities, the need for comfort in the kitchen has triggered a positive impact on the market.

 

The growing home values have doubled homeowner equity, indicating a trend of homeowners feeling richer and disposed towards spending money on home improvement. The online home remodeling platform Houzz reported a 58% uptick in the project leads for home professionals in June 2020, as compared to the same month the previous year. Similarly, kitchen and bath remodeling projects picked up by 40%, according to the agency. According to Home Improvement Research Institute (HIRI), home improvement spending by Americans was likely to reach USD 439.9 billion in 2020, incurring a rise of 8.7% in spending.

With an increasing number of families considering the kitchen as a central gathering place in the home, the focus on renovating and improvising the area has been growing. For instance, the 2019 U.S. Houzz Kitchen Trends Study found that spending on both median and large kitchen remodels increased by 10% from 2018. Furthermore, an increasing number of mille

nnials are buying homes, particularly older homes that require more repairs. According to studies by HomeAdvisor, millennials are investing in a greater number of home improvement projects each year compared to other age groups.

The increasing infrastructural developments, as well as new building permits in the region, are expected to boost the market growth. According to the U.S. Census Bureau, privately-owned housing units authorized by building permits in November 2020 were at a seasonally adjusted annual rate of 1,639,000. This is 6.2% (±1.5 percent) above the revised October rate of 1,544,000 and is 8.5% (±1.8 percent) above the November 2019 rate of 1,510,000. Moreover, rapid construction in the commercial segment, particularly the hospitality sector, is also driving the demand for kitchen range hoods. The hotel industry is a key supporting factor to the region’s hospitality sector, driving the construction of more hotels. The booming tourism and real estate industries, accompanied by various infrastructural developments in the hospitality sector, will continue to spur the market for kitchen ventilation over the forecast period.

 

Under-cabinet product held over 42.7% of the Americas range hood revenue in 2020. These are the most common range hoods as the design of an under-cabinet venting system is simple and versatile to fit any kitchen style or design. The current trend of open shelves in a kitchen, as opposed to upper cabinets, is drawing more attention toward the installation of such range hoods. New trends and innovation in range hoods have created immense opportunities in the market concerning product installation and design. For instance, AKDY, a manufacturer of high-end kitchen and bath appliances, introduced the Under Cabinet Range Hood Collection containing detailed 3D drawings that can be used in kitchen remodeling projects.

The key companies of the industry include Whirlpool Corporation, Broan-NuTone, LLC, GE Appliances, a Haier company, Robert Bosch GmbH, Haube Range Hood Co., KOBE Range Hoods, Victory Range Hoods, Proline Range Hoods, Faber US and Canada, and Vent-A-Hood® Ltd.

 

Americas Range Hood Market Segmentation

Grand View Research has segmented the Americas range hood market based on product, end-user, distribution channel, and region:

Based on the Product Insights, the market is segmented into Under Cabinet, Wall Mounted, and Ceiling Mount.

• The under cabinet product segment held the largest revenue share of more than 42.7% in 2020. This high share is attributed to the fact that the under-cabinet range hood mounts directly beneath an over-the-range cabinet and blends into the design flow of the cabinets above and around the range or cooktop. 

 

• Ceiling mount products have gained higher penetration among consumers. The increasing trend of kitchen remodeling in the country is expected to spur the demand for trendy ceiling-mounted range hoods. 

 

Based on the End-user Insights, the market is segmented into Residential, and Commercial.

• The residential application held the largest revenue share of more than 85.7% of the America range hood market in 2020. This high share is attributed to the fact that modern urban lifestyles and smart upgrades and visually appealing product innovations by key industry participants are driving the adoption rate of premium range hoods.

 

• Developments in the hospitality sector have resulted in the growth of the hotel industry, leading to the construction of a greater number of hotels across the country. A thriving travel and tourism industry also offers growth opportunities for different categories owing to consumer preference for luxurious stays in resorts or highly-rated hotels.

 

Based on the Distribution Channel Insights, the market is segmented into Online, Kitchen Stops, Supermarkets & Hypermarkets, Specialty Stores, and Local Kitchenware Shops.

• The kitchen stops channel of distribution contributed a revenue share of more than 57.7% in 2020. Kitchen shops include the official stores owned by various brands such as Whirlpool, Haube Range Hood Co., and KOBE Range Hoods. The sales of range hood products through kitchen shops continue to flourish as consumers seek more specialty products for their kitchens, particularly the consumers in the luxurious household and hotel space.

 

• Kitchen shops are also popular since they offer customers set configurations based on current trends. These stores are capitalizing on this trend and offer products to meet consumer demand. Kitchen shops have a wide range of products, such as different mounting types and finishes, which allows consumers to choose a range hood items that best serve their requirements. 

 

Key Companies Profile & Market Share Insights

The industry has a large number of international and local players. The impact of these established players on the market is quite high as a majority of them have vast distribution networks across the North America and Latin America regions to reach out to their large customer base. The key players operating in the Americas range hood market are focusing on strategic initiatives such as product launches, participation in events, and expansions to drive revenue growth and reinforce their position in the market.

Key players operating in the market adopt strategic initiatives such as product launches to drive the company's growth in the future as well as to solidify their position in the market. For instance, in December 2020, Broan-NuTone, LLC launched a series of three new models of chimney hoods in the new Designer Collection. The models, available in stainless steel and black stainless steel (model BWS1 exclusively), feature refined lines that form a slim contemporary design. Some of the key players operating in the Americas range hood market are:

• Whirlpool Corporation
• Broan-NuTone, LLC
• GE Appliances, a Haier Company
• Robert Bosch GmbH
• Haube Range Hood Co.
• KOBE Range Hoods
• Victory Range Hoods
• Proline Range Hoods
• Faber US and Canada
• Vent-A-Hood® Ltd.

 

Order a free sample PDF of the Americas Range Hood Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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