New York 8 April 2019: The Report “Commercial Kitchen Appliances Market [By Product (Cooking Appliances,
Dishwasher, Refrigerator, Others); By Fuel Type (Cooking Gas, Electricity,
Others); By End-User (Full Service Restaurants, Quick Service Restaurants,
Hotels and Resorts, Commercial Kitchens, College and University Kitchens,
Others); By Structure (Built-in, Free Stand); By Region]: Market size &
Forecast, 2017 – 2026” The global commercial kitchen appliances market
is anticipated to reach USD 138.5 billion by 2026. In 2017, the refrigerator
segment dominated the global market, in terms of revenue. North America is
expected to be the leading contributor to the global market revenue during the
forecast period.
Browse Research Report On Commercial Kitchen
Appliances Market Analysis: https://www.polarismarketresearch.com/industry-analysis/commercial-kitchen-appliances-market
The significant
increase in food establishments, and the growing tourism industry are the major
factors driving the growth of this market. The changing lifestyles and hectic
schedules of the working professionals are leading to higher instances of
dining at restaurants and other food establishments. Rising disposable income is one of the
factors responsible for the growth of the market.
Restaurants are
increasingly adopting technologically advanced kitchen appliances to simplify
kitchen activities and offer enhanced services to consumers. Restaurant
businesses prefer compact and space efficient appliances, which encourages
market players to launch new products in the global market. Increasing spending
on the hospitality sector, and tourism activities encourage restaurant owners
to improve their infrastructure and offer enhanced services.
The market is
also driven by increasing need to use kitchen appliances that consume less
energy and provide faster kitchen services. Growing concerns regarding
environment and increasing adoption of energy efficient kitchen appliances are
expected to offer numerous growth opportunities in the future. However, high
costs associated with commercial kitchen appliances, high installation prices,
and strict regulations on production of commercial cooking appliances restrict
the growth of the market.
Increasing
disposable income coupled with rise in number of working-class populations has
changed the lifestyle pattern of consumers. The commercial kitchen appliances
market has witnessed considerable growth in the recent years due to improved
lifestyle, changing consumption patterns of people and rising number of social
events. The disposable income of people in the developing countries has
increased owing to the improving economic conditions in these regions. High
disposable income increases the spending capacity of consumers encouraging them
to dine at restaurants and attend social events. These factors support the growth of the
global commercial kitchen appliances market.
North America
generated the highest revenue in the market in 2017, and is expected to lead
the global market throughout the forecast period. The high living standards
along with high disposable income in the region drive the market growth. Other
factors supporting market growth in North America include different eating
habits, increasing popularity of different cuisines, and a multi-cultural
environment. Asia-Pacific is expected to grow at a significant rate during the
forecast period owing to the increasing population and improving living
standards.
Access press release of Commercial
Kitchen Appliances Market: https://www.polarismarketresearch.com/press-releases/global-commercial-kitchen-appliances-market
The different
types of commercial kitchen appliances include cooking appliances,
refrigerators, dishwashers, and others. In 2017, refrigerators accounted for
the highest market share owing to increasing need to conserve edible items at a
range of different temperatures. Restaurants are increasingly adopting
technologically advanced refrigerators to meet high storage demands and to
offer fresh & high-quality food. Food establishments are also inclined
towards using energy efficient refrigerators owing to growing environmental
concerns.
The well-known
companies profiled in the report include Meiko International, AB Electrolux,
Hobart Corporation, Fujimak Corporation, Duke Manufacturing Co. Inc., Ali Group
Company, Hoshizaki Corporation, Fagor Industrial, Rational AG, Carrier
Corporation among others. These companies launch new products and collaborate
with other market leaders to innovate and launch new products to meet the
increasing needs and requirements of consumers.
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Market Research
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