Cooker Hoods Market is set to breach US$ 17.15 revenue mark, at a CAGR of 3.6% during forecast period of 2022-32
The global cooker hoods market is anticipated to grow at a 3.6% CAGR, with sales expected to reach US$ 12.1 Bn in 2022. In light of this, the global market for cooker hoods will grow to US$ 17.15 billion by 2032. Cooker hood sales account for 5–10% of the global market for home appliances.
Another factor which is driving the market is the presence of leading market players in the country. With technological advancements, small and medium companies are making progress via new contracts and collaborations with technology-based startups, which, in turn, is driving sales of cooker hoods.
“The introduction of ductless cooking hoods, along with rising demand for smart kitchen appliances across the globe will augment the growth in the market in the forthcoming years,” says an FMI analyst.
In Europe, U.K is expected to account for a dominant share in the market owing to rapid development of more innovative, energy efficient, and technologically advanced household appliances.
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- Based on product type, sales of integrated cooker hoods will remain high.
- By applications, demand for cooker hoods in the residential segment will gain traction.
- In terms of sales channel, the exclusive stores segment will expand at a considerable pace over the assessment period.
- The U.K. will continue dominating the Europe cooker hoods market over the forecast period amid high demand for smart kitchen appliances.
- India will emerge as a lucrative pocket owing to the expansion of the foodservice sector in the country.
Appliances are being integrated with Internet of Things (IoT) platforms by market players. Apps for mobile and desktop devices allow smart kitchen equipment to work remotely and wirelessly,in real-time. Mergers and acquisitions, as well as product development and innovation, are among the strategies adopted by key players to gain a competitive edge.
Adding new features and functionality is a major concern for companies. Major players present in the Cooker Hoods market are Bosch, Miele, Siemens, Elica hoods, Midea, Luxair Cooker Hoods Limited, Inflame Appliances Ltd, Eico A/S, Westin, Candy Hoover Group S.r.l, Falmec Kitchen Appliance Limited and Hafele Appliances among others.
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Cooker Hoods Market by Category
By Product Type:
- Chimney/wall-mounted cooker hoods
- Integrated cooker hoods
- Downdraft cooker hoods
- Extraction Technology
- Filter less Technology
By Sales Channel:
- Multi-Brand Stores
- Exclusive Stores
- Online Stores
- Independent Stores
- North America
- Latin America
- East Asia
- South Asia
- The Middle East and Africa (MEA)
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