Newark, NJ, Nov. 11, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global commercial kitchen appliances market is expected to grow from USD 85.11 billion in 2020 and to reach USD 140.86 billion by 2028, growing at a CAGR of 6.50% during the forecast period 2021-2028.
The introduction of smart kitchen equipment is projected to have a positive impact on market growth. Smart technology can check the effectiveness of kitchen equipment and improve the consistency of food preparation. As a result, major market players are focusing on technical breakthroughs in ventilation, temperature control, and automated techniques for equipment maintenance and cleaning in order to save time and money in the long term.
Commercial kitchen appliances are equipment that are used to some extent to prepare, store, and cook food. Everything from modern cooking burners to huge refrigerators is included. The majority of them currently run on electricity, although others continue to run on gas. Certain cooking equipment is essential whether an individual owns a Quick Service Restaurant, a cafe, or a fine dining business. However, there may be some equipment that is just utilised in restaurants. These smart commercial kitchen appliances have sensors and advanced networking features that allow them to connect to mobile devices like smartphones and tablets, and other household equipment.
The increase in popularity of Quick Service Restaurants (QSRs) among millennials, and the rise of the travel and tourism industry, are likely to move the market forward significantly in the coming years. The growing use of smart kitchen equipment in the foodservice industry is expected to boost demand for commercial kitchen appliances. Increased demand for drive-through meals, fast-paced life in metros and cosmopolitan cities, a growth in the number of working women and nuclear families, and a rise in individual disposable income are all factors pushing the market for commercial kitchen appliances.
DOWNLOAD FREE SAMPLE REPORT AT https://www.fiormarkets.com/report-detail/419721/request-sample
Concerns about rising pollution and global warming have led to the development of energy-saving gadgets. Technological advancements, according to this trend, could help manufacturers make large profits over the forecast period. High initial capital investment costs are expected to negatively impact on the consumer preferences towards the new market developments. Rural China, India, and Africa have experienced power shortages due to uneven economic development. Furthermore, over 50% of the population in 38 of Sub-Saharan Africa's 49 countries lacks access to power, reducing the size of the commercial kitchen equipment market.
Key players operating in global commercial kitchen appliances market include Ali Group, Bakers Pride, Bonnet International, G.S. Blodgett Corporation, Garland Group, True Manufacturing, and Vulcan.
- In February 2020, Blodgett Corporation introduced their freestanding ventless convection oven with easy-to-use touchscreen controls for hospital cafeterias, institutional kitchens, fast-casual restaurants, and other foodservice facilities.
Quick Service Restaurants segment dominated the market and held the largest market share of 23% in the year 2020
Based on End Use, the global commercial kitchen appliances market is segmented into resorts and hotels, institutional canteens, quick service restaurants, full-service restaurants, hospitals, cruise and airways catering, rail, and others. Quick Service Restaurants (QSR) segment dominated the market and held the largest market share of 23% in the year 2020. Due to the expanding trend of foreign and local QSR outlets, and the establishment of new QSR brands, the category is expected to positively impact market growth over the forecast period. With casual dining brand outlets entering emerging markets, regional QSR brands are projected to grow.
Refrigerator segment dominated the market and held the largest market share of 45% in the year 2020
On the basis of Product, the global commercial kitchen appliances market is segmented into cooking appliance, dishwasher, refrigerator, other specialized appliance. Refrigerator segment dominated the market and held the largest market share of 45% in the year 2020. Due to the increasing requirement for food preservation as a result of changing climatic conditions, end users are considering deploying refrigerators with cutting-edge technologies. As a result, during the forecast period, the increased emphasis on innovations in refrigeration technologies is likely to enhance demand for refrigerators.
Browse full report with TOC at https://www.fiormarkets.com/report/commercial-kitchen-appliances-market-size-share-trends-419721.html
Regional Segment of Commercial Kitchen Appliances Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global commercial kitchen appliances market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America had the largest share of the market in 2020. The expanding number of restaurants, hotels, and food enterprises in the region is likely to aid the industry's growth. Furthermore, a surge in the use of various types of kitchen appliances in corporate spaces, and also early acceptance of technologically advanced equipment, are driving the market for commercial kitchen appliances in this region. MEA is predicted to have the greatest CAGR after North America over the forecast period. With the influx of tourists, fast food restaurants in this region are expanding their menus by offering a diverse assortment of cuisine items drawn from both local culture and other parts of the world. The fast service restaurant sector in Asia Pacific is expected to grow at a strong rate as a result of a large number of global chains and local competitors moving into the region.
Request for Customization: https://www.fiormarkets.com/enquiry/request-customization/419721
About the report:
The global commercial kitchen appliances market is analysed based on value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
For Instant Purchase: https://www.fiormarkets.com/checkout.html?reportid=419721&type=single
Customization of the Report:
The report can be customized as per client requirements. For further queries, you can contact us on sales@fiormarkets.com or +1-201-465-4211. Our executives will be pleased to understand your requirements and offer you the best-suited reports.
About Fior Markets
Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.
Contact Us
Avinash D
Head of Business Development
Phone: +1-201-465-4211
Email: sales@fiormarkets.com
Web: www.fiormarkets.com
To Read Top Industries Reports, Visit our Affiliated Website: https://www.marketsandresearch.biz
Related Reports
Ultra-High Purity Silicon Carbide Market - https://www.fiormarkets.com/report/ultra-high-purity-silicon-carbide-market-by-application-semiconductors-419559.html
LED Lighting Market - https://www.fiormarkets.com/report/led-lighting-market-size-share-trends-analysis-419532.html
Brushless DC Motor Market - https://www.fiormarkets.com/report/brushless-dc-motor-market-size-share-trends-419525.html
Outdoor Solar LED Market - https://www.fiormarkets.com/report/outdoor-solar-led-market-size-share-trends-419495.html
