Growing demand for advanced kitchen appliances and surge in awareness about benefits of fresh air is expected to drive the demand of the global smart kitchen hood market in the forecast period, 2023-2027.
The rise in awareness about the benefits associated with smart kitchen hoods and the growing preference for eco-friendly kitchens are the major driving factors influencing the growth of the global smart kitchen hood market. The ever-increasing working population, increased demand for convenient cleaning solutions, and quick adoption of advanced technologies are expected to fuel the global smart kitchen hood market in the forecast period.
The smart kitchen hood is in high demand among consumers due to its compact design, ideal for new compact modular kitchens. The rapid development of residential and commercial buildings is expected to accelerate the need for smart kitchen hood in the next five years. These hoods can be fitted under the kitchen cabinets, enabling users to utilize the kitchen space for other applications efficiently.
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The growing demand for online food channels and the changing preference of consumers to eat outside are boosting the growth of commercial kitchens all over the globe. The rise in commercial kitchens and the need to efficiently exhaust toxic air to make cooking more manageable for a longer time is fueling the demand for the installation of smart kitchen hoods.
However, the presence of alternatives to smart kitchen hoods and high maintenance costs may restrain the global smart kitchen hood market growth for the next five years.
The global smart kitchen hood market is segmented by type, price range, distribution channel, regional distribution, and company.
On the basis of type, the global smart kitchen hood market is divided into under cabinet, wall mount, island mount, and others. Under cabinet smart kitchen hood is expected to hold the largest market share owing to its easy installation, less cost, and easy availability over its counterparts.
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On the basis of the price range, the global smart kitchen hood market is divided into low, medium, and high. The medium price segment is expected to account for a significant market share in five years. The availability of a large number of options for consumers varying based on size, color, and performance in the medium price range, which is affordable for the middle-class population, is creating the demand for smart kitchen hood in developing countries.
On the basis of distribution channel, the global smart kitchen hood market is divided into offline and online. The offline segment is expected to hold the largest market share in terms of revenue in the forecast period due to the presence of offline stores in the close vicinity of the consumers and offering discounts on the purchase of smart kitchen hoods and other smart appliances from the offline channels. Leading market players are opening their specialty stores to make the customers offer their products.
On the basis of regional analysis, the Asia-pacific region is expected to lead the market and witness substantial growth opportunities in the next five years. The growing expenditure capacity of consumers, rapid urbanization, and availability of advanced kitchen appliances enhancing comfort and safety during cooking are driving the global smart kitchen hood market growth in the region.
Major market players operating in the global smart kitchen hood market is:
- Robert Bosch Hausgeräte GmbH
- Samsung Electronics Co., Ltd
- General Electric Company
- Dacor, Inc.
- SEG Hausgeräte GmbH
- The Miele Group
- Zephyr Ventilation
- Somany Home Innovation Limited (Hindware Appliances)
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“The growing proliferation of fast-food chains, hotels, and restaurants and the imposition of stringent regulations imposed by leading authorities regarding cleanliness and hygiene in a commercial kitchen create growth opportunities for the global smart kitchen hood market. Rising penetration of innovative technologies in prominent industries such as the healthcare industry and high-end investments for up-gradation of existing infrastructure to advanced products and equipment offering a high level of performance is expected to propel the growth of the global smart kitchen hood market till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Smart Kitchen Hood Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Type (Under Cabinet, Wall Mount, Island Mount, Others), By Price Range (Low, Medium, High), By Distribution Channel (Offline, Online), By End Use (Residential, Commercial), and By Region”, has evaluated the future growth potential of global smart kitchen hood market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global smart kitchen hood market.
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