The Under-Cabinet Market was USD 4.94 billion in 2022, and it is expected to grow at a revenue CAGR of 4% during the forecast period, reaching USD 7.03 billion in 2032. The market is being driven by several factors, such as the increasing popularity of home remodeling and renovation projects, rapid urbanization, and a rising demand for smart and energy-efficient kitchen appliances.
Moreover, the demand for range hoods is increasing due to people’s growing concerns about indoor air quality and kitchen ventilation systems. Range hoods are designed to remove smoke, heat, and odor produced during cooking, thereby ensuring a safe and hygienic kitchen environment. They are also popular in open kitchen designs in residential homes and restaurants since they help to maintain a clean and smoke-free atmosphere. The availability of various range hood models, such as wall-mounted, island, and under-cabinet models, is also contributing to their increased adoption in the region. Wall-mounted range hoods are the most common type since they are easy to install and use, while island range hoods are becoming more popular due to the rising popularity of open kitchen layouts. Under-cabinet range hoods are ideal for small kitchens as they save space while providing effective ventilation.
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Major Companies:
- Whirlpool Corporation
- Broan-NuTone LLC
- Elica S.p.A.
- Vent-A-Hood
- Zephyr Ventilation, LLC
- Bosch Home Appliances
- AKDY Appliances
- GE Appliances
Driving Factors and Restraints of Americas Range Hood Market:
Factors:
- Increasing popularity of home remodelling and renovation projects in the region is driving demand for range hoods.
- Rapid urbanization is resulting in increased demand for range hoods in urban areas.
- Rising demand for smart and energy-efficient kitchen appliances is driving the adoption of range hoods.
- Growing concerns about indoor air quality and kitchen ventilation systems are driving the demand for range hoods.
- Availability of a variety of range hood models, such as wall-mounted, island, and under-cabinet models, is encouraging their uptake in the region.
- Smart range hoods with integrated smart home technology and voice assistants such as Alexa and Google Assistant are gaining popularity.
- Range hoods help maintain a clean and smoke-free environment, which is an ongoing trend in open kitchen designs in residential homes and restaurants.
Restraints:
- High cost of installation and maintenance of range hoods may hinder their adoption.
- Lack of awareness about the benefits of range hoods in certain regions may limit the market growth.
- Availability of alternative kitchen ventilation solutions, such as exhaust fans and air purifiers, may pose a challenge to the range hood market.
- Some consumers may prefer to use traditional methods of ventilation, such as opening windows or using exhaust fans, rather than investing in range hoods.
Market Key Trends:
- Adoption of smart range hoods: Smart range hoods with integrated smart home technology and voice assistants such as Alexa and Google Assistant are becoming increasingly popular. These range hoods have sensors that automatically adjust the fan speed and lighting based on the cook’s activity, resulting in energy savings and reduced noise.
- Growing demand for energy-efficient range hoods: There is a rising demand for energy-efficient range hoods due to increasing awareness about environmental sustainability. Manufacturers are incorporating advanced technologies, such as LED lighting and variable speed controls, to improve the energy efficiency of range hoods.
- Increasing preference for stylish and sleek designs: Consumers are increasingly opting for range hoods that not only provide effective ventilation but also enhance the aesthetic appeal of their kitchen. Manufacturers are offering a wide range of stylish and sleek designs that cater to the changing consumer preferences.
- Emergence of ductless range hoods: Ductless range hoods are gaining popularity as they do not require ductwork for installation. They are ideal for homes or apartments where ductwork installation is not feasible or where there is limited space for ductwork.
- Rise of under-cabinet range hoods: Under-cabinet range hoods are becoming increasingly popular due to their compact design and space-saving features. These range hoods are ideal for small kitchens where space is a premium.
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