Posted On: 2020-11-17
Wall- Mounted Electric Chimney segment acquired the highest revenue share in the overall India Electric Chimney market in 2019 – 6Wresearch
For several years, people in India rely on exhaust fans fulfilling the requirements of ensuring proper ventilation in kitchens, but now, with the changing times, more powerful and reliable technology has somehow managed to replace the conventional legacy. The demand of Electric Chimneys has gained momentum in India and wall mounted electric chimney grabbed the highest penetration in the market owing to low cost, higher adoption and easy maintenance. Additionally, due to the production halt and logistics issues during lockdowns, the demand couldn’t be met but COVID-19 has created a need realization owning to an increased interest of people in renovation and an inclination towards cookery, which would further propel the growth during the forecast period.
According to 6Wresearch, India Electric Chimney Market size is projected to grow at a CAGR of 14.9% during 2020-26F. Rising awareness regarding the use of electric chimneys and the adoption of modular kitchens would play an important role in the overall growth for electric chimneys in the country. Further, the rise in disposable income, surging urbanization, increasing standard of living, rising nuclear families, ease in availing credit, new technological advancements and the changing needs of varied demographics in India would open up new avenues for the Electric Chimney market in the country, thus supplementing the growth of electric chimneys in the years to come.
According to Mansi Bisht, Research Analyst, Research and Consulting, 6Wresearch, “By End Users, Residential sector acquired the maximum share in 2019 owing to an increase in the construction of flats, villas and luxury apartments in the urban and the semi- urban spaces in India. The propelling demand of new houses along with the renovation requirements in Tier 1 and Tier 2 cities would further drive the growth of electric chimneys market. The gushing requirements of hospitality sector including the spurt in the commercial shops such as food bakery outlets and cafes, would further perform in favour of the Electric Chimney Market during the forecasted period.
According to Ananya Garg, Research Associate, Research and Consulting, 6Wresearch, “By Distribution Channels, offline channel such as retail channels or direct sales dominated the market with approximately more than three- fourth of the total share on account of the tendency of the consumers to check and ensure serviceability before buying. However, with the advancement in e-commerce, online channel is expected to witness significant growth in the coming years. Further, by the regions, Southern Region governs the market on account of the increased awareness amongst the people.
Some of the major companies in India Electric Chimney Market include Glen Appliances Private Limited, Elica PB India Private Limited, Sunflame Enterprises Private Ltd., IFB Industries, Bajoria Appliances Pvt Ltd (Kutchina) and Kaff Appliances Pvt. Ltd.
"India Electric Chimney market (2020-2026)" provides an in-depth analysis with 19 figures covered in 83 pages. The report estimates and forecasts the overall India Electric Chimney market by types, suction types, distribution channels, end users and regions. The report provides an unbiased and detailed analysis of the India Electric Chimney market on-going trends, outlook, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.