NEW YORK, July 25, 2022 /PRNewswire/ — The “Commercial Cooking Equipment Market by Product (cookers, ranges, fryers, ovens, and others) and Geography (North America, APAC, Europe, South America, and MEA) – Forecast and Analysis 2021-2025” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the commercial cooking equipment market between 2020 and 2025 is USD 4.95 billion, as per the latest market analysis report by Technavio. The analysts at Technavio have categorized the global commercial cooking equipment market as a part of the global household appliances market. The report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the commercial cooking equipment market during the forecast period.
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Key Market Dynamics:
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Market Trend: The rising focus on improving new technologies is one of the key trends likely to support the global commercial cooking equipment market share growth. Manufacturers are providing improved cooking technology to address the needs and demands of end-users. Manufacturers of commercial conveyer ovens are coming up with improved technologies that can break the cold air “halo” that surrounds the food being cooked, which resists the transfer of heat from the radiant heating source and leads to increased preparation time. Such technological advances will drive the growth of the market in a positive direction.
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Market Challenge: The increasing raw material prices will be a key threat to the global commercial cooking equipment market share growth during the forecast period. One of the major raw materials used in the production of commercial cooking equipment is stainless steel. Even end-users prefer cooking appliances that are made of steel as the metal is durable in comparison to other metals such as aluminum or non-metal elements such as plastic. As steel is a commodity, its price fluctuates frequently. These volatile prices affect both manufacturers as well as end-users. The expanding demand-supply gap is also contributing to an increase in the cost of raw materials.
Key market dynamics and their impact analysis on the market growth is available in this report. Download Now!
Market Segment Dynamics:
The commercial cooking equipment market report is segmented by Product (cookers, ranges, fryers, ovens, and others) and Geography (North America, APAC, Europe, South America, and MEA).
Regional Opportunities: North America will be the leading region with 31% of the market’s growth during the forecast period with the US emerging as the largest revenue-generating economy in the region. The commercial cooking equipment market in North America is mainly driven by the growing demand for commercial cooking equipment with high operational efficiency. The increase in wages and salaries is encouraging many foodservice operators to invest in commercial kitchen equipment that requires minimum labor training and intervention. Vendors have started providing cooking technologies that are easy to use. Also, various chain restaurants are expanding in the region, which will directly influence the market for commercial cooking equipment. This will drive the market growth positively in the forthcoming years.
Revenue-generating Segment Highlights: The commercial cookers segment held the largest market share in 2020. This segment includes pasta cookers and rice cookers. These appliances also form an essential part of the food service establishments that serve various food items such as pasta and a variety of rice and rice-based dishes. Vendors of commercial cookers, with advancements in various controls, are focusing on improving the technology used in commercial cookers to reduce energy and water consumption. For instance, AB Electrolux provides its pasta cooker model 900XP, which is equipped with different baskets for menu differentiation and comes with an automatic basket lifting system.
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FAQs:
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Which is the latest market trend taking the market by the storm?
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What are some of the most influential market drivers, restraints, and opportunities (DROs)?
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What are the historical and projected revenue values and CAGR percentage?
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Which strategic initiatives will influence competitive scenarios and define the market growth potential?
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Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?
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Who are the top market share contributors and their latest organizational restructuring plans?
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Related Reports:
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Commercial Cooking Equipment Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of over 5.4% |
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Market growth 2021-2025 |
$ 4.95 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.92 |
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Regional analysis |
North America, APAC, Europe, South America, and MEA |
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Performing market contribution |
North America at 31% |
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Key consumer countries |
US, China, UK, Germany, and Japan |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Ali Group Srl, Alto-Shaam Inc., ATA Srl, Duke Manufacturing, Electrolux AB, FUJIMAK Corp., Illinois Tool Works Inc., RATIONAL Group, The Middleby Corp., and Welbilt Inc. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
About Us
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Technavio Research
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Email:media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
Read More:USD 4.95 billion Variation in Commercial Cooking Equipment Market Size at 5.4% CAGR from 2020 to 2025
2022-07-26 02:34:45
