Posted On: 2017-11-23
India kitchen and kitchenware industry recorded substantial growth over the last few years, wherein modular kitchen segment registered higher growth, attributed to rising consumer awareness towards modern lifestyle, growing upper and upper middle class households, along with adoption for smart living and attractive kitchen solutions. With growing modular kitchen solutions, the demand for electric chimneys has also increased. Additionally, declining ownership cost, surging purchasing power as well as growing need to evade cooking smoke and gases are some of the major factors which are likely to propel the market growth over the coming years.
According to 6Wresearch, India electric chimney market is projected to grow at a CAGR of over 14% during 2017-23. Over the past few years, the electric chimney market has gained higher acceptance across both residential and commercial applications, attributed to rising disposable income and installations in newly built residential apartments. In terms of regions, the Southern region recorded highest revenue share on the back consumer acceptance and advantages pertaining over the conventional exhaust fan solutions.
According to Snehashish Mukherjee, National Head Marketing & Sales Strategy, Kutchina, 6Wresearch "The growth of India electric chimney market is buoyed by rising consumer awareness and growing demand for modular kitchen solutions, across the country. Over the coming years, the market is anticipated to register a healthy growth rate as a result of mounting demand across Tier-II cities in India."
According to Prijo Samuel, Assistant Research Manager, Research and Consulting, 6Wresearch "India electric chimney market is dominated by residential vertical on account of growing demand for modular kitchen solutions across real estate sector and modern kitchen upgradation. During the forecast period, commercial vertical is expected to register higher growth on account of its penetration in hospitality, healthcare, commercial verticals along with growing mobile vehicles and shops."
"Over the next few years, with declining prices, gaining popularity in youth and middle aged income groups, construction of villas, residential apartments and renovation of existing kitchen, India’s electric chimney market is anticipated to register higher growth," He further added.
According to Anuj Mehrotra, Senior Research Analyst, Research and Consulting, 6Wresearch "In terms of segments, in 2016, wall mounted electric chimney captured major share of the market revenues on account of, low ownership, installation & maintenance cost, along with lesser infrastructure space available for island electric chimney segment."
"During the forecast period, wall mounted electric chimney segment is likely to capture major share of the market revenues. However, downdraft and island electric chimney are projected to register higher demand due to their attractive appearance and declining ownership cost," Anuj Concluded.
Some of the key players in India electric chimney market include- Faber Heatkraft, Pigeon, Glen, Elica, IFB, Prestige, Kaff, Kutchina, Hindware, and Sunflame.
"India Electric Chimney Market (2017–2023)" report provides in-depth analysis with 46 figures and 27 tables covered in more than 100 pages. The report estimates and forecast the overall India Electric Chimney market by Segments and Regions. The report also offer insights on competitive landscape, companies benchmarking, company profiles, market drivers and restraints.