Commercial Kitchen Equipment Market Will Secure Nearly USD 112.47 Billion With New Growth Opportunities
CommercialKitchen Equipment Market is anticipated to reach USD 112.47 billion by 2025. Commercial cooking equipment are an important part of food processing & service industry. This equipment is commonly used in hotels, restaurants, and the other commercial kitchens for ease in food preparation, and reduction in labor & operational cost and rising concerns regarding food safety will boost the commercial kitchen equipment industry growth in the years to come. Increase in disposable income is bound to boost the market growth.
On
the other hand, there are factors that may hamper the growth of the commercial
kitchen appliances market such as volatile prices of raw material, and
high cost of initial investment in with regards to the production plant. The
market is anticipated to grow at a significant CAGR in the upcoming period as
the scope, product types, and its applications are increasing across the globe.
Commercial
kitchen equipment industry may be explored by type, end user, and geography.
The market may be explored by type as Char Broilers/Broilers/Griddles/Grills,
Braising Pans/Tilting Skillets, Cook-chill Systems, Steamers, Fryers, Ovens,
Ranges, Cookers, Kettles, and Others. The “Cookers” segment dominated the
commercial kitchen equipment market in 2016 and is anticipated to maintain its
dominance by 2025 owing to utilization of cookers by several catering
companies, end-users, hotels, and restaurants.
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Commercial
kitchen appliances industry may be explored by end user as Fast Food Chain
(FFC), Café & Bar, QSR, Railway Dining, Institutional Canteen, Ferry &
Cruise, Resort & Hotel, Hospital, FSR, and Others. The “QSR” segment
dominated the market in 2016 and is anticipated to maintain its dominance by
2025. The QSR segment is anticipated to grow at the highest CAGR of 7.5% over
the forthcoming period.
North
America accounted for the major share of the commercial kitchen equipment
market size in 2016 and will continue to lead in the forecast period. The
factors that could be attributed to the growth include surge in the number of
fast food outlets due to hectic & busy lifestyle, rise in eating out
expenditure, and increase in the number of working women. North America is
followed by Europe and Asia-Pacific.
Some
of the key players that fuel the growth of the commercial kitchen equipment
industry comprise Hamilton Beach, Hobart, Carrier Corporation, Middle by
Corporation Company, True Manufacturing, The Vollrath Company, LLC, and AIHO
Corporation. The leading companies are taking up partnerships, mergers and
acquisitions, and joint ventures in order to boost the inorganic growth of the
industry.
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Market Segment:
Commercial
Kitchen Appliances Product Outlook (Revenue, USD Million; 2014 - 2025)
• Refrigerator
• Cooking Appliance
• Cooktop & Cooking Range
• Induction
• Gas & Electric
• Oven
• Convection
• Microwave
• Combination
• Rice Cooker
• Dishwasher
• Others
Commercial
Kitchen Equipment Product Outlook by End-Use (Revenue, USD Million; 2014 -
2025)
• QSR
• Fast Food Chain (FFC)
• Café & Bar
• Railway Dining
• Ferry & Cruise
• Institutional Canteen
• Resort & Hotel
• Hospital
• FSR
• Others
Commercial
Kitchen Appliances Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
• Europe
• Asia Pacific
• Rest of the World (RoW)
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