Commercial cooking equipment Market

The global commercial cooking equipment market size was valued at $10.7 billion in 2019, and is projected to reach $12.9 billion by 2027, registering a CAGR of 5.2% from 2021 to 2027.

Commercial cooking equipment are used for preparation of food in commercial kitchen. These includes kettles, ranges, oven, fryers and others. These equipment are used in the food service industry such as restaurants, hotels, caterings and other commercial kitchens. Development of the hospitality industry majorly drives the demand for commercial cooking equipment. Moreover, the growing demand for multi-functional, efficient, space & time saving commercial cooking equipment is further contributing towards the global commercial cooking equipment market growth.

The food service industry is focusing towards equipment embedded with automated technology. Thus, commercial cooking equipment manufacturers are launching IoT (Internet of Things) infused new equipment and are incorporating new features to remain competitive in the market. With novel innovations in the field of connected equipment, engaged stakeholders in the commercial cooking equipment industry are likely to untap new opportunities arising in the connected commercial equipment market.

The global commercial cooking equipment market segments are categorized into product type, end use, and region. By product type, it is classified into braising pans/tilting skillets, broilers/charbroilers/grills/griddles, cook-chill systems, fryers, cookers, ranges, kettles, steamers, ovens, and others. Depending on end use, it is divided into full-service restaurants, quick service restaurants, and catering. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, ASEAN, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, South Africa, Saudi Arabia, and rest of LAMEA).

The Ranges segment in the commercial cooking equipment market accounted for the highest market share in 2019 and is poised to grow with a robust CAGR during the commercial cooking equipment market forecast period. In order to offer 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 fuel the commercial cooking equipment market growth. However, the fryer segment is expected to grow at the highest CAGR during the forecast period.

By end use, the market is divided into full-service restaurants, quick service restaurants, and catering. In 2019, the quick service restaurants segment accounted for the highest commercial cooking equipment market share in the global commercial cooking equipment market. Moreover, the quick-service restaurants segment is also anticipated to grow at the highest CAGR. This is attributable to the rapid changes in the supporting factors such as consumer preferences for fast food, increase in working women population, rise in disposable income, and rapid urbanization have resulted into rise in number of quick-service restaurants, thereby, driving the growth of the commercial cooking equipment market.

Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest market share in 2019. The North America region dominates the use of commercial cooking equipment. This is attributable to the increase in number of food joints such as hotels & restaurant which has fueled the demand for commercial cooking equipment in the region. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

Some of the major players in the global market analyzed in this report include Duke Manufacturing Co. Inc., Electrolux, Dover Corporation, Illinois Tool Works (ITW), Inc., Ali Group S.r.l., Welbilt, Inc., Middleby Corporation, Alto-Shaam, Inc., Comstock-Castle Stove Co., Inc., and Atosa USA,. Inc.

Covid-19 Impact Analysis

• Commercial cooking equipment market is profoundly impacted due to pandemic owing to lockdowns and widespread travel restrictions.
• The recent declaration regarding the shutdown of notable proportion of the hospitality industry, including full-service restaurants, caterings and quick service restaurants has drastically hampered the sale of commercial cooking equipment globally. 
• The travel restrictions due to lockdown have created challenges for customer demonstrations and installations, thus affecting the sale of commercial cooking equipment.
• The duration of the virus outbreak remains a key factor in assessing the overall impact of the pandemic, however, the global commercial cooking equipment market is likely to stabilize after the year 2022.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the current commercial cooking equipment market trends, estimations, and dynamics of the global market for the period of 2019–2027 to identify the prevailing commercial cooking equipment market opportunities.
• The key countries in four major regions have been mapped based on their market share.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth commercial cooking equipment market analysis of the segmentation assists to determine the prevailing market opportunities.
• Major countries in each region have been mapped according to their revenue contribution to the global industry. 
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of market players.
• The report includes the analysis of the regional as well as global market, key players, market segments, end use, and growth strategies.

 Commercial cooking equipment Market Report Highlights