LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global downdraft range hoods market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global downdraft range hoods market will grow at a CAGR of close to 8% during the forecast period. Growing popularity of downdraft range hoods is a major factor driving the market’s growth.
One of the most important kitchen appliances in modern times is the downdraft range hood. There is an increase in the demand for modular kitchens across the globe. This has led to an increase in the demand for cooker hoods. Many consumers are essentially opting for cooker hoods in their kitchen. Even developing countries, such as China and India, have become a major market for manufacturers to launch their products.
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The three emerging market trends driving the global downdraft range hoods market according to Technavio research analysts are:
- Rising popularity of modular kitchens
- Technological developments in downdraft range hoods market
- Growth in online retail
Rising popularity of modular kitchens
The kitchen market across the globe is undergoing various changes, wherein most individuals are selecting simple yet convenient features for their kitchens that are technologically advanced. In the recent times, several consumers in the Americas and Europe have shown an inclination toward soft muted colors such as charcoal, gray, pale green, and pale blue for their kitchens. Primary colors are out of fashion and do not give the kitchen the required aesthetic feel. Additionally, due to the increase in technological advances, several designers are expecting new kitchen designs to have smart spaces that are defined by designers as designated areas that allow users to easily charge phones, tablets, and other mobile devices.
Traditional kitchens are going out of style because of the launch of modular kitchens in most parts of the world. On the other hand, modular kitchens have changed the way kitchens are built and fitted into homes. Owing to the increase in urbanization, spaces in homes are also getting constrained, inducing a need for convenient kitchen appliances that can be easily installed. Furthermore, with the increase in customization options, several consumers are opting for modular kitchens as per their design requirements.
“Modular kitchens are designed in such a manner that kitchen appliances, tools, and utensils are easily accessible to the user. Innovative ideas integrated into modular kitchens is another key aspect influencing several consumers to purchase modular kitchens. For instance, decorative cooker hoods with technologically advanced features are some of the innovative ideas that have been integrated into residential cooker hoods. Such features have assisted in driving the market growth of modular kitchens, including downdraft range hoods,” says a senior analyst at Technavio for research on home, kitchen, and large appliances.
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Global downdraft range hoods market segmentation
This market research report segments the global downdraft range hoods market into the following two segments by blower type (external blower and internal blower), two segments by venting type (ducted downdraft range hood and ductless downdraft range hood), and three major regions (the Americas, APAC, and EMEA).
Based on geography, the global downdraft range hoods market is segmented into three regions, namely EMEA, the Americas, and APAC. The market growth is strong in EMEA that held a share of approximately 42% in 2017. This was followed by the Americas with a market share of more than 35% and APAC with a share of close to 23%. The markets in Eastern Europe and Latin America will gain traction after two to three years. The market in APAC is growing, with developing nations such as China and India accounting for the major revenue share.
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