Growing Demand for the Commercial Kitchen Equipment Globally
by Susan Hill Business ConsultantThe global commercial kitchen appliances market size is expected
to reach USD 112.47 billion by 2025, according to a new report by Grand View
Research, Inc. Globally, Quick Service Restaurants (QSRs) are projected to
represent the highest user base of commercial kitchen equipment. Emerging consumer
trends in the U.S. and European countries, such as a shift toward low-calorie
and healthy food, are expected to drive the demand for nutritious food chains
and outlets.
The consolidated market
share of gas & electric cooktops and cooking ranges is anticipated to be
more than 75% of the overall revenue share by 2025. Combination ovens are
projected to witness increasing demand owing to their performance as compared
to convection and microwave
ovens. By end-use, the European ferry & cruise segment is one of the fastest
growing markets, with the UK being a prominent region witnessing significant
demand. The regional ferry & cruise segment is witnessing substantial
growth in terms of both, destinations and the number of passengers. These
trends are anticipated to positively impact the demand for commercial kitchen
equipment industry in the region.
The Asia Pacific region’s
QSR segment is expected to grow substantially, owing to an increasing presence
of international and local chains in the region. The high cost of renting space
in most of the populous Asia Pacific cities is one of the major barriers
inhibiting the growth of FSRs, while boosting the QSR establishments, and
thereby the kitchen equipment associated with them.
Further key findings from the report suggest:
- In 2016, refrigerators accounted for
almost 45% of the commercial kitchen equipment market revenue share
- Within the Asia Pacific region, the
railway dining end-use segment is expected to be the highest user of the
induction cooktops and ranges by 2025
- The Average Selling Price (ASP) of
kitchen equipment is higher in the U.S. owing to a greater variation in
prices and the availability of much diverse product ranges
- By 2025, the North American dishwasher
segment is expected to reach USD 6.64 billion
- The key market players include Hobart,
Hamilton Beach, Middleby Corporation Company, Carrier Corporation, True
Manufacturing, AIHO Corporation, and The Vollrath Company, LLC
Access full research report on global commercial kitchen appliances industry:
www.grandviewresearch.com/industry-analysis/commercial-kitchen-equipment-appliances-market
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Created on Mar 25th 2020 11:09. Viewed 307 times.