Range Hood Market To Surpass $9.5 Billion By 2026

The range hood market size is expected to surpass $9.5 billion by 2026, says a report by Global Market Insights, Inc. The high demand for under-cabinet range hoods can be attributed to several advantages including versatility, compactness, and easy installation. The residential segment is expected to witness a compound annual growth rate of around four per cent through 2026. Increasing household disposable income coupled with growing market trend of home renovation will provide robust opportunities for the market revenue. Range hood systems help in removing toxic pollutants, smoke, steam, grease, and gasses from the air during kitchen activities. They also prevent the growth of bacteria and germs in the kitchen. The rising construction of residential buildings and apartments is expected to drive the market representation of these appliances. Growing awareness among citizens related to the adoption of energy-efficient home appliances is expected to propel the demand for Energy Star qualified range hoods in the household sector.