Commercial Cooking Equipment Market Overview:
Global Commercial Cooking Equipment Market accounted for $9,105 million in 2016, and is expected to reach $11,740 million by 2023, registering a CAGR of 3.8% from 2017 to 2023. Commercial cooking equipment play a vital role in the food service & processing industry. Cooking equipment, such as ovens and fryers, are used to prepare numerous raw & cooked food items. These equipment are popularly used in restaurants, hotels, and other commercial kitchens for ease in food preparation, increase in food safety, and reduction in labor & operational cost.
Restaurants have been gaining popularity among consumers, owing to changing lifestyle and growing influence toward outside food. Increase in popularity of creative cooking and baking among consumers has availability of a variety of cuisines for consumers. The revenue source for food service equipment market is based on the sales, after service, and replacement of food service equipment.
The market segmentation is based on type, end user, and geography. Based on type, it is classified into braising pans/ tilting skillets, broilers/ char broilers/ grills/ griddles, cook-chill systems, fryers, ovens, cookers, ranges, kettles, steamers, and others. On the basis of end user, it is categorized into full service restaurant & hotels, quick service restaurants, and catering service. The market is analyzed based on region into North America, Europe, Asia-Pacific, and LAMEA.
Market Definition & Scope
The report incorporates the study of commercial cooking equipment. Equipment such as convection oven, combi oven, fryers and others designed to be used mainly in the food service industry (restaurants, hotels, cafes, bakery and similar others) are considered under the scope of study. However, industrial cooking equipment such as batch ovens, continuous ovens, belt ovens, conveyor oven & fryers, pressure fryers have not been considered under the scope.
End user segment is further divided into full service restaurants, quick service restaurants, and catering service. Restaurants/food outlets covered under each type are as follows:
- Full service restaurants include traditional or fine dining restaurants.
- Quick service restaurants include take away, fast food outlets, food trucks, bars & pubs, bakery, and cafeteria.
- Catering service include food services provided for events, such as business meetings, social gatherings, or functions at various locations such as hospital, school, and corporate office.
The global commercial cooking equipment market is driven by growth in hospitality industry and change in lifestyle. In addition, increase in concerns of food safety and rise in preference for quick service restaurants over full service restaurants drive the market growth. However, volatile prices of raw materials and huge capital requirement for setting up new manufacturing facility restrain the market growth. Moreover, technological innovations in food service industry, such as launch of new & advance, energy efficient, and cost-effective products, are expected to unfold numerous opportunities for the market growth. Furthermore, some of the major challenges for the market players is to manufacture lightweight, cost effective, and energy efficient equipment.
Ovens Segment Leads the Commercial Cooking Equipment Market
The ovens segment accounted for the highest market share to the overall commercial cooking equipment market in 2016. This is attributed to high price and large user base of ovens in the food service industry. Convection ovens are widely used at various food service outlets. Increase in demand for combi ovens due to their versatile usage is the key driver of the market. Moreover, launch of ovens with sustainable technology, increase in the number of quick service restaurants, rise in inclination of people toward ready-to-eat products, and introduction of smarter features fuel the market growth.
- The report provides an extensive analysis of the factors that drive and restrain the global commercial cooking equipment market.
- The factors affecting the growth and projections of the market are provided for the period of 20162023.
- The report provides quantitative & qualitative trends to assist stakeholders to understand the regional trends.
- Competitive intelligence of the industry highlights the business practices followed by key market players across the globe.
Commercial Cooking Equipment Market Key Segments:
- Braising Pans/Tilting Skillets
- Broilers/Char Broilers/Grills/Griddles
- Cook-chill Systems
By End User
- Full Service Restaurant & Hotels
- Quick Service
- Catering Service
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Market Players in the Value Chain
- Ali S.p.A.
- Illinois Tool Works Inc.
- Duke Manufacturing Co. Inc.
- The Middleby Corporation
- Alto-Shaam, Inc.
- Edward Don & Company
- Fujimak Corporation
- Manitowac Company Inc.
- Rational AG
- AB Electrolux
Other Players in the Value Chain
- Standex International Corporation
- The Vollrath Company, LLC