According to a new report published by Allied Market Research, titled, "Range Hood and Cooktop Market by Type, User-Application, and Mode of Sales: Global Opportunity Analysis and Industry Forecast, 2018-2030". The global range hood and cooktop market size market was valued at $23,875.3 million in 2020, and is projected to reach at $37,646.2 million by 2030, growing at a CAGR of 4.4% from 2021 to 2030.

Get Free Sample Report PDF @https://www.alliedmarketresearch.com/request-sample/3126

In 2020, the Europe range hood and cooktop market accounted for nearly 35% of the global range hood and cooktop market. The range hood market is currently holding a major share and is expected to grow with highest CAGR over the coming years. Product innovation is further driving the market growth and enticing consumers toward the segment.

The manufacturers are focusing on brand awareness, market penetration, and supply chain network to fulfil the demand from consumer’s side. According to the report published by the JETIR 2019, advertisement plays an important role with an effectiveness of ~70% as a source of awareness of home appliances. These innovations in marketing strategies along with the digitization are placing demands in range hood and cooktop market, but also open up major opportunities to the marketers.

Manufacturers in the kitchen appliances market are continuously developing products with enhanced functionality and features to remain competitive. Despite developing products with higher added value, the prices for the products have collapsed and thus, remained stagnant at a low level for several years. The decrease in price was due to the pressure of competition from countries with low manufacturing costs. Manufacturers are also facing pressure related to margins owing to fierce competition in the market. This decrease in price is forcing companies to develop innovative products and is encouraging customers to purchase the range hoods and cooktop. This, in turn, drives the range hood and cooktop market growth.

The range hood and cooktop industry is segmented into type, user application, mode of sales, and region. By region, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, Spain, U.K., Italy, France, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

Based on region, Europe, followed by North America, held the highest market share in terms of revenue 2020, accounting for more than one-third of the global range hood and cooktop market, owing to the huge and aware consumer base, well established electronics market, and rising consumer interest over kitchen appliance in the market. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 5.6% during the forecast period, owing to the increasing industrialization, westernization, and rise in business opportunities in the kitchen appliances market in the region.

Inquire More About this Report @https://www.alliedmarketresearch.com/purchase-enquiry/3126

The Covid-19 pandemic has a vital impact on the growth of the global Range Hood and Cooktop Market and altered several market scenarios. The lockdown across various countries and ban on international travel has disrupted the supply chain and revenue chain. The report includes a thorough analysis of the Covid-19 pandemic on the growth of the global Range Hood and Cooktop Market.

Read More Trending "AMR Exclusive Insights:

• Commercial Refrigeration Market is projected to reach $35.25 Bn by 2027
https://www.alliedmarketresearch.com/commercial-refrigeration-market

• Cookware Market is projected to reach $34.1 billion by 2030
https://www.alliedmarketresearch.com/cookware-market-A16433

• Household Appliances Market is projected to reach $763,451 million by 2025
https://www.alliedmarketresearch.com/household-appliances-market



About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com