India Kitchen Hood Market Set Surpass US $ 183 Million (RS. 1000 Crore) Revenues By 2017
Increasing GDP, improving standard of living, booming real estate and rising kitchen integration with main houses to spur demand of kitchen hoods in India.
Kitchens in India which were once the most ignored part of the household whereas now they are becoming the centre of attraction. Kitchen appliances sales are improving in the country, so are the interiors of the kitchen. The growth in kitchen appliances market has also positively influenced the growth in kitchen hood segment. There are already multiple companies including the top notch international players along with the domestic manufacturers in Indian market. Every player in the country is targeting hard enough to crack down sales in this untapped market which has created a healthy competition among existing players.
According to a recently published report by TechSci Research “India Kitchen Hood Market Forecast and Opportunities, 2017” the kitchen hood market in India has huge untapped opportunities as the penetration level is still very low. The market for kitchen hoods in India is forecasted to grow at the compounded annual growth rate of around 10% till 2017. With a large base of middle class consumers in the country which is the target segment for every company operating in kitchen hoods segment the market is set to get the much awaited thrust in next 2 years. Faber and KAFF are the top two leading companies which enjoy the early entry benefits of operating in this market segment which is expected to touch Rs. 1000 Crore (US$ 183 Million) revenues by 2017.
The booming real estate sector in India is also one of the major factor pushing sales of kitchen hood’s as Builders/Developers are offering apartments with built-in electric chimney’s which is also helping in spreading the popularity and necessity of these appliances. The state of Maharashtra, Goa, and Gujarat are the largest contributor in market revenues for kitchen hoods. In 2011, around 30% of the total sales of kitchen hoods were recorded from western region of India.
“India Kitchen Hood Market Forecast and Opportunities, 2017” has evaluated the future growth potential of kitchen hoods market in India and provides statistics and information on market structure, market trends, market size, etc. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.