Commercial Kitchen Appliances Market Size
|2020 - 2029
|Market Size (2024)
|USD 42.76 Billion
|Market Size (2029)
|USD 56.49 Billion
|CAGR (2024 - 2029)
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
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Commercial Kitchen Appliances Market Analysis
The Commercial Kitchen Appliances Market size is estimated at USD 42.76 billion in 2024, and is expected to reach USD 56.49 billion by 2029, growing at a CAGR of 5.73% during the forecast period (2024-2029).
- The outbreak of the COVID-19 pandemic had a significant impact on the commercial kitchen appliances market. The pandemic resulted in the closure of many restaurants and food service establishments, leading to a decline in demand for commercial kitchen appliances. Additionally, supply chain disruptions and factory shutdowns also affected the production and availability of these appliances.
- However, as restaurants and other food service establishments started to reopen, the demand for commercial kitchen appliances began to recover. Many establishments are investing in new kitchen equipment to comply with new safety and sanitation guidelines, such as touchless technologies and improved air filtration systems.
- Commercial kitchen appliances, like refrigerators, ovens, kitchen utensils, and kitchen utensils used in commercial establishments. Restaurants, hotels, and clubs use commercial kitchen appliances for cooking, cleaning, and storage. Restaurants are gaining popularity among consumers owing to lifestyle changes, an increase in the working population, and a rising preference for outside food.
- Further, the growth in the hospitality industry, rising concerns about food safety, and increasing preference for quick-service restaurants over full-service restaurants are factors that are likely, to propel the market growth. Also, technological innovations in the food service industry, such as the launch of new and advanced products and energy-efficient and cost-effective commercial kitchen appliances, are expected to open numerous opportunities for market growth in the forthcoming years.
Commercial Kitchen Appliances Market Trends
Increasing Demand for Commercial Home Appliances in Quick Service Restaurants
- The demand for commercial kitchen appliances has grown significantly over the years due to the exponential increase in the number of the foodservice providers, such as quick-service and full-service restaurants. Hotels and restaurants require effective and advanced superior kitchen appliances for effective operations in their kitchen. These companies prefer kitchen appliances that offer high-quality services in a minimum time.
- The demand for quick-service restaurants is increasing globally. Due to urbanization, people are more inclined toward fast food, driving the demand for quick-service restaurants. Commercial appliances, such as refrigerators and kitchen hobs, are integral to quick-service restaurants.
- With an increasing demand for quick-service restaurants, the major quick-service chains are moving toward their business expansions. The rising trend of international and local QSR outlets and the opening of new QSR brands are projected to positively impact the commercial cooking appliances market over the forecast period.
North America Is Witnessing Highest Growth Among All Regions
- North America generated the highest revenue in the commercial kitchen appliances market, and it is expected to witness this growth in the forecast period. The growth in this region is mainly attributed, owing to the high spending capacity of the people starting a restaurant business. The new entrants in the restaurant business are purchasing a range of commercial cookware to improve the menu and also raise the kitchen performance, which is fuelling the growth of the market.
- Furthermore, the increasing number of food trucks and fast-food joints in this region is also fuelling the market growth. Other factors supporting market growth in North America include different eating habits, the increasing popularity of different cuisines, and a multicultural environment.
Commercial Kitchen Appliances Industry Overview
The commercial kitchen appliances market is capital-intensive and fragmented, as numerous players compete with one another to uphold their place in the market. The industry is dynamic in nature, with rapid technological advancements. The players are increasingly investing in innovating their product offerings. Some of the major players in the commercial kitchen appliances market include Electrolux, Meiko International, Falcon Professional Kitchen L.L.C, Carrier Corporation, and Rational AG.
Commercial Kitchen Appliances Market Leaders
Falcon Professional Kitchen L.L.C
Duke Manufacturing Company
*Disclaimer: Major Players sorted in no particular order
Commercial Kitchen Appliances Market News
- February 2022: Carrier Corporation announced the launch of a new line of sustainable refrigeration solutions for the commercial kitchen market. The new products are designed to offer energy-efficient and environmentally friendly refrigeration options for businesses.
- January 2022: AB Electrolux announced the launch of a range of new products for the commercial kitchen market, including ovens, refrigerators, and dishwashers. The new products feature innovative designs and advanced features, such as energy-efficient technologies and smart connectivity.
Commercial Kitchen Appliances Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights on Technological Innovations in Commercial Kitchen Appliances
4.7 Insights on Consumer Behavior Analysis
5. MARKET SEGMENTATION
5.1 By Type
5.1.2 Cooking Appliances
5.1.3 Cooktop and Cooking Ranges
5.1.6 Other Types
5.2 By Application (Market Size and Forecast)
5.2.1 Quick Service Restaurant (QSR)
5.2.2 Railway Dining
5.2.3 Institutional Canteen
5.2.4 Resort and Hotel
5.2.6 Full Service Restaurant (FSR)
5.2.7 Other Applications
5.3 By Geography
5.3.1 North America
5.3.2 South Amercia
5.3.5 Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Ali Group
6.2.2 American Range
6.2.3 Carrier Corporation
6.2.5 Fagor Group
6.2.6 Hamilton Beach
6.2.8 Hoshizaki Corporation
6.2.9 Interlevin Refrigeration Ltd
6.2.10 Rational AG
6.2.11 Meiko International
6.2.13 Falcon Group
6.2.14 Duke Manufacturing Company
6.2.16 The Vollrath Company LLC*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Commercial Kitchen Appliances Market Research FAQs
How big is the Commercial Kitchen Appliances Market?
The Commercial Kitchen Appliances Market size is expected to reach USD 42.76 billion in 2024 and grow at a CAGR of 5.73% to reach USD 56.49 billion by 2029.
What is the current Commercial Kitchen Appliances Market size?
In 2024, the Commercial Kitchen Appliances Market size is expected to reach USD 42.76 billion.
Who are the key players in Commercial Kitchen Appliances Market?
AB Electrolux, Carrier Corporation, Meiko International, Falcon Professional Kitchen L.L.C and Duke Manufacturing Company are the major companies operating in the Commercial Kitchen Appliances Market.
Which is the fastest growing region in Commercial Kitchen Appliances Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Commercial Kitchen Appliances Market?
In 2024, the North America accounts for the largest market share in Commercial Kitchen Appliances Market.
What years does this Commercial Kitchen Appliances Market cover, and what was the market size in 2023?
In 2023, the Commercial Kitchen Appliances Market size was estimated at USD 40.31 billion. The report covers the Commercial Kitchen Appliances Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Commercial Kitchen Appliances Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Commercial Kitchen Appliances Industry Report
Statistics for the 2024 Commercial Kitchen Appliances market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Commercial Kitchen Appliances analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.