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Commercial Cooking Equipment Market Size is projected to reach USD 19.13 billion by 2030, growing at a CAGR of 5.5%: Straits Research

·11 min read
Straits Research - Market Research Strategy | Strategy Consulting | Business Research | Business Consulting | Market Research
Straits Research - Market Research Strategy | Strategy Consulting | Business Research | Business Consulting | Market Research

The global commercial cooking equipment market size is to grow to USD 19137 million by 2030 at a CAGR of 5.5% from the early figures of USD 11820 million in 2021. Europe region is expected to reach USD 4162.1 million in 2030 at a CAGR of 5.2%, which is the second-highest after North America.

New York, United States, July 21, 2022 (GLOBE NEWSWIRE) -- Commercial cooking equipment makes it easy and safe to make food in commercial kitchens. Most commercial cooking equipment is made up of braising pans, kettles, cook-chill systems, ovens, and fryers. All of these are used for cooking food for businesses. In catering, full-service restaurants, and quick-service restaurants, these tools are used a lot to make and store different kinds of food. Most of the growth in the food service industry comes from more people traveling on business and more hotels and restaurants opening up.

People from all over the world are more likely to use commercial cooking equipment that has been improved. Also, modular kitchens with high-tech features are becoming more popular, which increases the need for commercial cooking equipment. On the other hand, over the next few years, the commercial cooking equipment market is likely to grow because more people want energy-efficient and cost-effective products, cloud kitchens are becoming more popular, and more people want custom units.


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Expansion of the Food Service Industry and the Rise in the Number of Quick-Service Restaurants are Driving the Market Forward

The market for commercial cooking equipment is growing because there are more hotels and restaurants and more business trips. The National Restaurant Association's Restaurant Performance Index says that the U.S. restaurant business was worth about USD 860 billion in 2019. There are more than 1 million restaurants in the U.S., which is a major growth driver for the commercial cooking equipment market.

Also, more people are eating out, which has led to a growth in the food service industry and a higher demand for commercial cooking equipment. During the period of the forecast, the market is also expected to grow because there will be more cross-border investments, more experiments, and new ideas in a wide range of cuisines, and the travel and tourism industry will be growing quickly.


Rise in the Number of Quick-Service Restaurants Fuelling the Growth of the Market

The goal of a quick-service restaurant is to get food to customers as quickly and easily as possible. This usually means that you can serve yourself and that the food will be prepared shortly after your order is placed. In addition, most quick-service restaurants provide services other than sitting and eating, such as take-out, drive-thru, and home delivery, which are ideal for today's lifestyles.

Subway, McDonald's, Burger King, KFC, Taco Bell, and Wendy's are examples of quick-service restaurants. Changes in how people eat and how busy they are, as well as an increase in disposable income, the number of women working, and rapid digitalization, have resulted in an increase in the number of quick-service restaurants, which has resulted in an increase in demand for cooking equipment such as fryers and ovens. As a result, all of these factors have a significant impact on the growth of the commercial cooking equipment market.

Report Scope

Report Metric

Details

Market Size

USD 19.13 Billion by 2030

CAGR

5.5% (2022-2030)

Historical Data

2019-2020

Base Year

2021

Forecast Period

2022-2030

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Product Type, End-Use, Region

Geographies Covered

North America, Europe, Asia-Pacific, LAME and Rest of the World

Key Companies Profiled/Vendors

Alto Shaam Inc., Atosa USA Inc., Comstock- Castle Stove Co., Dover Corporation,
Duke Manufacturing Co. Inc., Electroflux, Illinois Tool Works Inc., Middleby Corporation, Welbilt Inc.

Key Market Opportunities

Rising Trend of Cloud Kitchens is Helping the Commercial Cooking Equipment Market to Grow

Key Market Drivers

The Rise in the Number of Quick-Service Restaurants Fuelling the Growth of the Market

Buy Now Full Report @ https://straitsresearch.com/buy-now/commercial-cooking-equipment-market 


Surge in Demand for Energy-Efficient and Cost-Effective Products and the Rise in the Trend of Cloud Kitchens are creating a Lot of Opportunities in the Market

The rise in demand for low-energy products is partly due to more people being aware of how important it is to save water and electricity. Because of this, manufacturers have been told to make commercial cooking equipment, like ovens, that uses less water and energy than the ones that are already on the market. About 20% less energy is used by commercial ovens than by standard models. So, in the food service industry, commercial cooking equipment that uses less energy and costs less is becoming more popular. This, in turn, will give the commercial cooking equipment market a huge chance to grow over the next few years.

Cloud kitchens, which are also called dark kitchens or shared kitchens, are kitchens that only make food for delivery. They can be owned by a brand or run by a third party. Cloud Kitchen makes mostly fast food that is known for its taste, its unique offerings, and how easy it is to get. All of these things are important to the target market. The cloud kitchen trend has also been fueled by the growing popularity of online food delivery. This is because people have busy lives and want easy food options.

Cloud kitchens are also being used more in the food service industry because more people have access to the internet, and social media is becoming more important. As a result, all of these things are likely to make it easier for the commercial equipment market to grow during the period covered by the forecast.


Regional Analysis of the Global Commercial Cooking Equipment Market – 

The global market for commercial cooking equipment is mostly split into three regions: North America, Europe, and Asia-Pacific. Of these, North America is by far the biggest market.

North America – 

For the commercial cooking equipment market in North America, the U.S., Canada, and Mexico are all looked at. North America is the leader in the global market for commercial cooking equipment because it is where most of the market operates. Most commercial cooking equipment is used in the hospitality market in North America.

This is because North Americans buy a lot of new things, like smart ovens and smart deep fryers, and they also eat more fast food than people in other parts of the world. Also, the number of restaurants and people eating outside has led to a lot of growth in the commercial cooking equipment market in the region, which has led to a CAGR of 4.3% in the region.

Europe – 

The UK, Germany, France, Italy, and Spain, as well as the rest of Europe, are markets for commercial cooking equipment. The growth of the food service industry has helped the food service market in Europe grow. Europe's commercial cooking equipment market is growing because more people are learning about its benefits, it is easy to buy, and it is being used in more places. This is why the region is expected to reach USD 4162.1 million in 2030 at a CAGR of 5.2%, which is the second-highest after North America.

Asia-Pacific – 

During the time frame of the forecast, the commercial cooking equipment market in Asia-Pacific is expected to grow the fastest. Asia-Pacific is one of the best places to sell commercial cooking equipment because China and India are growing economies, and commercial kitchens are becoming more automated.


Key Highlights –

  • The global commercial cooking equipment market to grow at USD 19137 million by 2030 with a CAGR of 5.5% from the early figures of USD 11820 million in 2021.

  • The ovens have a major market share, which is anticipated to grow at a CAGR of 6.8% by 2030.

  • The quick-service restaurants have the major market share among all the other segments which is growing at a CAGR of 6.2% by 2030.

  • North America is the most dominant region among all the regions, which is growing at a CAGR of 4.3% for the forecast period.


Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/commercial-cooking-equipment-market/request-sample 

 

The major key players in the global commercial cooking equipment market are

  • Alto Shaam Inc.

  • Atosa USA Inc.

  • Comstock- Castle Stove Co.

  • Dover Corporation

  • Duke Manufacturing Co. Inc.

  • Electroflux

  • Illinois Tool Works Inc.

  • Middleby Corporation

  • Welbilt Inc.


Global Commercial Cooking Equipment Market: Segmentation

By Product Type

  • Ovens

  • Ranges

  • Grills

By End-Use

  • Full-Service Restaurant

  • Quick Service Restaurant

  • Catering

By Region 

  • North America

  • Europe

  • Asia-Pacific

TABLE OF CONTENT

  1. Introduction

    1. Market Definition

    2. Market Scope

  2. Research Methodology

    1. Primary Research

    2. Research Methodology

    3. Assumptions & Exclusions

    4. Secondary Data Sources

  3. Market Overview

    1. Report Segmentation & Scope

    2. Value Chain Analysis: Commercial Cooking Equipment Market

    3. Key Market Trends

      1. Drivers

      2. Restraints

      3. Opportunities

    4. Porter’s Five Forces Analysis

      1. Bargaining Power of Suppliers

      2. Bargaining Power of Buyers

      3. Threat of Substitution

      4. Threat of New Entrants

      5. Competitive Rivalry

    5. Market Share Analysis

  4. Product Type Overview

    1. Introduction

      1. Market Size & Forecast

    2. Ovens

      1. Market Size & Forecast

    3. Ranges

      1. Market Size & Forecast

    4. Grills

      1. Market Size & Forecast

  5. End User Overview

    1. Introduction

      1. Market Size & Forecast

    2. Full-Service Restaurant

      1. Market Size & Forecast

    3. Quick Service Restaurant

      1. Market Size & Forecast

  6. Regional Overview

    1. Introduction

      1. Market Size & Forecast

    2. America

      1. North America

      2. U.S.

        1. By Product Type

        2. By End User

      3. Canada

        1. By Product Type

        2. By End User

      4. Mexico

        1. By Product Type

        2. By End User

      5. Latin America

        1. By Product Type

        2. By End User

    3. Europe

      1. Market Size & Forecast

      2. Germany

        1. By Product Type

        2. By End User

      3. France

        1. By Product Type

        2. By End User

      4. U.K.

        1. By Product Type

        2. By End User

      5. Italy

        1. By Product Type

        2. By End User

      6. Spain

        1. By Product Type

        2. By End User

      7. Rest of Europe

        1. By Product Type

        2. By End User

    4. Asia Pacific

      1. Market Size & Forecast

      2. Japan

        1. By Product Type

        2. By End User

      3. China

        1. By Product Type

        2. By End User

      4. Australia

        1. By Product Type

        2. By End User

      5. India

        1. By Product Type

        2. By End User

      6. South Korea

        1. By Product Type

        2. By End User

      7. Rest of Asia-Pacific

        1. By Product Type

        2. By End User

    5. Middle East & Africa

      1. Market Size & Forecast

      2. Saudi Arabia

        1. By Product Type

        2. By End User

      3. South Africa

        1. By Product Type

        2. By End User

      4. Kuwait

        1. By Product Type

        2. By End User

      5. Rest of Middle East & Africa

        1. By Product Type

        2. By End User

  7. Company Profile

    1. Alto Shaam Inc

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

    2. Atosa USA Inc

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

    3. Comstock- Castle Stove Co

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

    4. Dover Corporation

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio


Table of Content and Figure @ https://straitsresearch.com/report/commercial-cooking-equipment-market/toc 


Market News -

  • In February 2022, Alto Shaam Inc. expanded its business operations in Australia and New Zealand to capture the pacific market.

  • In May 2022, Dover Corporation acquired Malema Engineering Corporation, a manufacturer of Flow-Measurement Devices for Bio-Pharma and semiconductor production applications.

  • In January 2022, Illinois Tool Works Inc completed the acquisition of the MTS Test and Simulation Business.

  • In January 2022, Middleby Corporation acquired Kamdo Joe and Masterbuilt companies and announced a new addition of Char-Griller.


News Media

Advent of Smart Electric Pressure Cookers to Drive the Electric Pressure Cooker Market

Europe, with High Expenditure Capacity, to Lead the Global Microwave Oven Market During the Forecast Period, 2019–2026


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