Posted On: 2018-04-04
UAE kitchen hood market registered sluggish growth attributed to economic slowdown as a result of oil price crisis over the last few years. However, upcoming new residential supply units, increasing number of hotels, restaurants, and quick service restaurants (QSRs) along with rising consumer awareness towards health, rising modern lifestyle, adoption for smart living as well as attractive kitchen solutions particularly modular kitchens are some of the key factors that would propel the growth of kitchen hood market.
According to 6Wresearch, UAE kitchen Hood Market is projected to grow at a CAGR of 11.5% during 2018-24. Healthy growth is anticipated on the back of growing investment and development of residential and commercial sectors in UAE due to upcoming Dubai Expo 2020. Several new projects in both residential and commercial sectors have been allotted by the UAE government. The Emirates of Dubai, Abu Dhabi and Sharjah are likely to register highest growth in demand for kitchen hood during the forecast period owing to increase in the number of construction activities pertaining to residential and commercial sectors.
According to Rishi Malhotra, Senior Research Analyst, Research and Consulting, 6Wresearch, "UAE kitchen hood market is dominated by residential vertical on account of growing demand for modular kitchen solutions across real estate sector coupled with modern kitchen upgradation. During 2018-24, the residential vertical is expected to register further growth attributed to rise in the number of residential supply units in Dubai and Abu Dhabi."
"Additionally, residential supply which drives the kitchen hood market in Sharjah is expected to increase during the forecast period due to low rental prices and its connectivity to both Dubai and Abu Dhabi. Apart from Sharjah, in the other Northern Emirates many new projects would be initiated by the UAE government specially to boost the tourism industry of these Emirates in near future," He further added.
According to Kanchan Negi, Research Associate, Research and Consulting, 6Wresearch, "In terms of kitchen hood segment, wall mounted kitchen hood captured major share of the market revenues in 2017, owing to rise in preference towards modular kitchen, low installation & maintenance cost, and lesser price as compared to Island mounted kitchen hood.
"Moreover, during the forecast period, wall mounted kitchen hood segment is likely to capture major share of the market revenues. Though, due to low cost involved in under-cabinet kitchen hood in comparison with wall mounted and island mounted is registering potential growth in demand on a year-over-year basis," Kanchan Concluded.
Some of the key players in UAE kitchen hood market include- BSH Home Appliances, AB Electrolux, Fisher & Paykel Appliances, Teka kuchentechnik, Miele appliances, Elica, Franke, Whirlpool, CNA Group, and Candy.
"UAE Kitchen Hood Market (2018-2024)" report provides in-depth analysis with 58 figures covered in 102 pages. The report estimates and forecast the overall UAE kitchen hood market by installation type, applications, regions and fitting type. The report also offer insights on competitive landscape, companies benchmarking, company profiles, market drivers, restraints and trends.