The global Commercial Kitchen Appliances market size is expected to be worth around US$ 131.76 billion by 2027, according to a new report by Vision Research Reports.
The global Commercial Kitchen Appliances market size was valued at US$ 79.70 billion in 2019 and is anticipated to grow at a CAGR of 6.6% during forecast period 2020 to 2027.
Rising popularity of Quick Service Restaurants (QSRs) and Full Service Restaurants (FSRs) and expanding travel and tourism are some of the key factors driving the market. Other factors impacting the market growth are rising demand for drive-through meals, development of railways, fast-paced life in metros and cosmopolitans, surge in the number of working women and nuclear families, and increasing disposable income of individuals.
Emergence of smart kitchen equipment is expected to favorably contribute to the market growth. Smart technologies can keep track of the performance of kitchen equipment as well as increase food preparation consistency. Hence, key market participants are focusing on technological advancements pertaining to ventilation, temperature control, and automated techniques for maintenance and cleaning of the equipment to reduce operational time and capital in the long run.
Moreover, the Internet of Things (IoT) is taking over commercial kitchens worldwide by integrating the appliances with other electronic devices owned by the consumers, which, in turn, increases efficiency and saves time. For instance, Monnit Corporation designs remote monitoring solutions for commercial refrigerators that are built with temperature and humidity sensors to ensure food quality, monitor cold inventory, and optimal inventory storage. Prominent end-use industries of commercial kitchen appliances are equipping multi-functional equipment with such state-of-the-art solutions as they are more efficient and they combine several functions in a single device to accommodate different pre-cooking programs as well as prepare multiple dishes in relatively less time.
According to the U.S. Environmental Protection Agency (EPA), commercial kitchens roughly consume 2.5 times more energy per square foot than any other commercial spaces. Thus, growing concerns regarding the energy consumption of equipment used and shift towards more energy-efficient appliances are expected to significantly contribute to the industry growth. Furthermore, rising government initiatives to spread awareness about energy consumption and increasing electricity cost are expected to drive the demand for eco-friendly and energy-efficient equipment over the forecast period.
In 2019, the refrigerator segment accounted for the largest revenue share of over 40.2% and is expected to witness substantial growth over the forecast period. Growing need for food preservation owing to changing climatic conditions is contemplating the end customers to deploy refrigerator with state-of-the-art technologies. Thus, the growing emphasis on advancements in refrigeration technologies is expected to boost the demand for refrigerators during the forecast period.
The cooking appliance segment is anticipated to expand at a CAGR of 7.7% over the forecast period on account of increased demand for combination oven and induction cooktop and cooking range. The induction cooking range comprises an induction cooktop and convection oven that uses convection technology to distribute the heat evenly for faster cooking. Demand for the induction cooking range is expected to increase over the forecast period owing to growing fuel and electricity prices and awareness about the conservation of energy.
In the oven segment, a combination oven, which is a built-in oven with a microwave function, is expected to expand at the highest CAGR of 9.2% during the forecast period. These ovens can be used to prepare different food items inside the same unit with convection, microwave, and combination mode. Moreover, this commercial kitchen equipment offers numerous benefits such as fast and multi-level cooking and advanced humidity and air movement control. Furthermore, the combination oven improves production capacity, which results in increased profitability and efficiency of the end-use industries.
In 2019, the QSR segment accounted for the largest revenue share of over 20.2%. The segment is projected to positively impact the market growth over the forecast period owing to the growing trend of international and local QSR outlets and the opening of new QSR brands. Regional QSR brands are expected to expand with casual dining brand outlets entering new geographies.
Rail, cruise and airways catering is expected to expand at the highest CAGR of 8% over the forecast period. Substantial growth in the tourism industry is expected to drive the demand for commercial kitchen appliances for catering in railways, airways, and cruise.
The hospitals segment is envisioned to witness significant growth from 2020 to 2027. One of the key factors responsible for the higher deployment of these appliances in hospitals is the need to prepare food in the hospital’s vicinity so as to maintain the nutritional requirements of the patients.
In 2019, North America accounted for the largest revenue share of over 31%. An increasing number of restaurants, hotels, and food businesses in this region is likely to aid industry growth. Furthermore, increasing usage of different types of kitchen appliances at commercial spaces and early adoption of technologically advanced equipment is driving the market for commercial kitchen appliances in this region. Moreover, improving the macro-economic condition of North America is driving the regional market for commercial kitchen appliances.
MEA is projected to register the highest CAGR of 9.0% over the forecast period. With the growing tourism, the fast food franchises in this region are adopting variation in the restaurant menu by including a diverse range of food items belonging to local culture as well as other parts of the world. Furthermore, the ferry and cruise and canteens are adopting a menu that is suited to other local cultures and ethnic foods from various countries, which, in turn, is anticipated to boost the demand for commercial kitchen appliances in the region.
The quick service restaurants segment in the Asia Pacific is expected to grow at a substantial rate as a large number of international chains and local players are venturing their businesses in the region. There is a growing trend of the foreign QSR chains trying to adapt to local tastes. Similarly, Indian restaurants are incorporating multi-cuisine food preparations, such as Italian, Mexican, and Continental, in their food menu, owing to an increasing number of customers experimenting with new food and developing a taste for different cuisines.
G.S. Blodgett Corporation
Commercial Kitchen Appliances Product Outlook
Cooktop & Cooking Range
Other Cooking Appliance
Other Specialized Appliance
Commercial Kitchen Appliances End-use Outlook
Quick Service Restaurants (QSRs)
Full Service Restaurants (FSRs)
Resorts & Hotels
Rail, Cruise & Airways Catering
Commercial Kitchen Appliances Regional Outlook
Middle East & Africa
The Commercial Kitchen Appliances market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Commercial Kitchen Appliances market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Commercial Kitchen Appliances market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Commercial Kitchen Appliances market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Commercial Kitchen Appliances market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Commercial Kitchen Appliances capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Commercial Kitchen Appliances by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Commercial Kitchen Appliances market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Commercial Kitchen Appliances market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Commercial Kitchen Appliances market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Commercial Kitchen Appliances industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Commercial Kitchen Appliances market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Commercial Kitchen Appliances market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Commercial Kitchen Appliances market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Commercial Kitchen Appliances market. These factors have benefited the growth of the global market for Commercial Kitchen Appliances. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Commercial Kitchen Appliances. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Commercial Kitchen Appliances are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are: