Global Commercial Cooking Equipment Market, By Type (Ovens, Ranges, Burners, Grills, Griddles, Deep Fryers, Other (Kettle, Steamer, etc.)), By End-Use (Hotels & Restaurants, Hospitals, Others (Ferry & Cruise, Institutional Canteens)), and opportunities and forecast 2020-2027
Commercial Cooking Equipment Market Overview
Commercial cooking equipment is used in restaurants that lay more emphasis on the dining experience and ambiance. These types of equipment are also used to provide food services in schools and hospitals, which see extensive usage of cooking equipment such as ovens, deep fryers, etc. The global Commercial Cooking Equipment market has been expanding to a large extent owing to the increasing demand from the hospitality sector in recent years. The rapid growth of the restaurant industry is seen with changing guest preferences and improved technology. These places have high demand and usage of cooking equipment such as ovens and fryers that has boosted the growth of the global Commercial Cooking Equipment market.
In addition, the introduction of new technologies such as virtual reality onboarding and automated purchasing tools have resulted in the growth of the restaurant industry. This fact rises the demand for commercial cooking equipment. Ultimately, it intensifies the growth of the global Commercial Cooking Equipment market. Furthermore, smart appliances have changed the face of commercial cooking equipment. Combination ovens offer the ability to maintain moisture levels and cooking times more precisely which helps restaurants to customize menu options and produce food faster. In addition, the benefits of a rapid cook oven are that it can capture grease, smoke, and steam. Such factors generate new opportunities for the commercial cooking equipment market.
On the other hand, restrictions in the design & construction of commercial kitchens may act as restraints for the growth of the commercial cooking equipment market.
Covid-19 Impact on Commercial Cooking Equipment Market
Consumers across the globe are adjusting to the new normal and there is a noteworthy discrepancy in consumer behavior. Consumer's purchasing habits, behavior, and attitudes have changed in light of COVID-19. People are shopping very consciously and are majorly centered on basic needs and are buying locally. Consumers are using digital commerce to play, learn, and connect to manage isolation and follow social distancing policy. The covid-19 has consistently impacted the shopping behavior of 9 in 10 consumers. Nearly 30-50 percent of the consumers have shifted towards online shopping from March 2020 to December 2020.
Based on the Type, the Ranges segment is accounted for the largest share in the Commercial Cooking Equipment market in 2019 and is predictable to maintain its supremacy over the forecast period. To offer the best services to customers, restaurants invest in cooking ranges that are time & space-saving as they can perform multiple functions such as cooking, frying, boiling, grilling, and baking which in turn propel the commercial cooking equipment market growth. Additionally, the fryer segment is projected to grow at the highest CAGR during the forecast period. According to End-Use, the Hotels & Restaurants segment has a significant share in the market. This is attributable to the factors such as consumer preferences for fast food, increase in working women population, rise in disposable income, and rapid urbanization have resulted in a rise in the number of quick-service restaurants. This fact boosting the growth of this segment.
Commercial Cooking Equipment Market, By Type · Ovens · Ranges · Burners · Grills · Griddles · Deep Fryers · Other (Kettle, Steamer etc.)
In terms of region, North America dominates the Commercial Cooking Equipment market and is predictable to maintain its supremacy over the forecast period. This is attributable to the increase in the number of food joints such as hotels & restaurants which has propelled the demand for commercial cooking equipment in this region. On the other hand, the market in Asia-Pacific is estimated to grow at the highest CAGR during the forecast period. China, India, and Japan are the dominant markets for commercial cooking equipment. Increasing use of commercial cooking equipment in the restaurant and hotel industry is expected to boost the growth of the market in this region.
Commercial Cooking Equipment Market, By Geography
· North America (US & Canada) · Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe) · Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific) · LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Commercial Cooking Equipment Market, Key Players
· Alto-Shaam, Inc. · Bonnet International · Duke Manufacturing · G.S. Blodgett Corporation · Garland Group · Illinois Tool Works Inc. · The Middleby Corporation
Commercial Cooking Equipment Market Study Global Market Analysis, Insights and Forecast, 2020-2027
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Industry SWOT Analysis
4.5. Porters Five Forces Analysis
5. Global Commercial Cooking Equipment Market Analysis (USD Billion), Insights and Forecast, 2020-2027
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Type
5.2.6. Deep Fryers
5.2.7. Other (Kettle, Steamer etc.)
5.3. Market Analysis, Insights and Forecast – By End-Use