The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global commercial kitchen appliances/ equipment market 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 market 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