Commercial Kitchen Equipment/Appliances Market Latest Trends, Along With Major Key Players Forecast 2023-2030 in Market Research Community

Commercial Kitchen Equipment/Appliances Market Insights

The commercial kitchen equipment/appliances market is expected to experience a compound annual growth rate (CAGR) of 6.6% during the forecast period from 2023 to 2030, leading to a projected increase in market value from USD 89.45 billion in 2022 to USD 159 billion by 2030.

The foodservice industry's growing need for advanced and efficient tools is fueling rapid growth in the commercial kitchen equipment and appliances market. This sector includes a wide range of appliances, such as ovens, fryers, refrigerators, freezers, dishwashers, food processors, and others.

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The global commercial kitchen equipment and appliances market was valued at USD 92.8 billion in 2020 and is anticipated to reach USD 132.5 billion by 2026, with a CAGR of 6.2% during the forecast period. The growth of this market is being fueled by the increasing need for technologically advanced and energy-efficient equipment, along with the surge in the number of foodservice establishments worldwide and the growing trend of dining out.

One of the major trends in the Commercial Kitchen Equipment/Appliances Market is the adoption of smart kitchen equipment. Smart kitchen equipment is equipped with advanced sensors and software that enable remote monitoring, automation, and control of the equipment, improving the efficiency and reducing operational costs for the foodservice establishments.

Another notable trend in the commercial kitchen equipment and appliances market is the increasing demand for energy-efficient equipment, which is both cost-effective and environmentally friendly for foodservice establishments. This demand is driven by the implementation of strict government regulations and initiatives that encourage sustainable practices and the reduction of carbon emissions in the foodservice industry.

Market Segment
By Type :
Cooking Appliances, Refrigerator, Cooktop and Cooking Ranges, Ovens, Dishwashers, and Other Types

By Distribution Channel:
Direct and Indirect

By Application:
Quick Service Restaurant (QSR), Railway Dining, Institutional Canteen, Resort and Hotel, Hospital, Full-Service Restaurant (FSR), and Other Applications

By Geography: 
North America– (U.S., Canada, Mexico)

Europe- (Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe)

Asia Pacific- (China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific)

Latin America- (Brazil, Argentina, Chile, Rest of Latin America)

Middle East and Africa- (GCC, Turkey, South Africa, and the Rest of MEA)

Geographically, the market is dominated by North America, followed by Europe and Asia Pacific. The growth of the market in North America can be attributed to the high adoption rate of advanced and energy-efficient equipment by the foodservice establishments in the region. Asia Pacific is expected to witness significant growth during the forecast period, driven by the increasing number of foodservice establishments in the region and the rising disposable income of consumers.

In conclusion, the Commercial Kitchen Equipment/Appliances Market Size is a rapidly growing sector, driven by the rising demand for advanced and efficient equipment in the foodservice industry. The market is characterized by the adoption of smart and energy-efficient equipment, with North America and Asia Pacific being the major markets. The market is expected to witness significant growth in the coming years, driven by the increasing number of foodservice establishments globally and the rising trend of eating out.

The study provides answers to the following key questions:                                                                                                                                                          

• What type of customers buying the products and services from companies operating in the Commercial Kitchen Equipment/Appliances Market?
• What will be the roadmap for the product manufacturers operating in the Commercial Kitchen Equipment/Appliances Market for the forecast period, 2023-2030?
• What are the recent developments in the competitive landscape to look out for during the estimated period?
• What are the major trends influencing customers’ lives and their buying behaviour?
• How can brands best communicate with the customers they intend to target?
• When, where and how the customers want to use or consume the products or services?

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