Published Date: 26-May-2021
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According to a new report Global Range Hood Market, published by KBV research, The Global Range Hood Market size is expected to reach $17.6 billion by 2027, rising at a market growth of 8.3% CAGR during the forecast period.
The Ceiling-mount hood market segment would witness the highest growth rate during the forecast years. It is also called an island hood because it is installed over the stove and not attached to the walls. The Ceiling-mount hood is very trendy and has a sleek design, which is why it is gaining more popularity across the world.
On the basis of the distribution channel, the offline distribution channel acquired the largest market share in 2020 and is estimated to maintain this trend over the forecast period. This growth is attributed to the availability of a broad range of products to opt from and the benefits of checking out all the information about the products before buying them. Additionally, many key companies operate their own specialty stores around the world, which further add to the growth of the segment.
Based on region, North America emerged as the leading region of the market with the highest market share in 2020 and would show similar trend even throughout the forecast period. Some aspects like the rapid adoption of innovative technologies in this region and subsequent demand for connected and smart gadgets, specifically in nations like Canada and Mexico, will spur the regional growth over the forecast period.
Full Report: https://www.kbvresearch.com/range-hood-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Whirlpool Corporation, Samsung Electronics Co., Ltd. (Samsung Group), Panasonic Corporation, Miele & Cie. KG, Broan-NuTone, LLC (Nortek Holdings LLC), Faber S.p.A. (Franke Holding AG), Falmec S.p.A., Asko Appliances AB (Hisense Group), Robert Bosch GmbH (BSH Home Appliances Corporation), and Elica S.p.A. (FAN S.A.)
By Distribution Channel
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