The Indian kitchen hood market has been forecast to increase at a compound annual growth rate (CAGR) of approximately 9.9% over the next five years, to reach a market value of US$183.3 million by 2017.
Currently, the Indian kitchen hood market is showing promising potential and has been growing at a rapid pace. Growth within the industry is being fuelled by the increase in middle class individuals, the booming real estate market and improving disposable income levels.
The majority of the Indian kitchen hood market is dominated by two key players; Faber, a provider of premium Italian kitchen range hoods to vent the kitchen and make a statement in the home, and KAFF appliances, an exporter and wholesaler of kitchen appliances, under sink systems and over the counter systems . Kaff products are now available in 3,000 dealers and 100 galleries across India; a rapid ramp up from almost none in 2010. Both these companies are benefiting from the early movers advantage in this market.
The global leader in the segment of kitchen hoods, Elica, has recently entered the Indian market. Elica is expected to impact the market shares of other players in the coming years which will change the dynamics of the Indian kitchen hood market in a significant manner.
With a view to capturing a 20% market share in Rs 500 crore of the Indian kitchen hood industry, Elica said it will invest Rs 10 crore to set up its first plant in Pune having an initial capacity to manufacture two lakh hoods annually.
The company also signed a joint venture with Mr Pralhad Bhutada, to set up and operate a manufacturing facility in India under the name of Elica PB India Pvt Ltd.
For more information on the Indian kitchen hood market, see the latest research: Indian Kitchen Hood Market Report
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