The Global 900 Series Cooking Equipment Market size is estimated to be USD 214.0 million in 2019 and is predicted to reach USD 535.7 million by 2030 with a CAGR of 8.7% from 2020-2030. 900 Series Cooking Equipment are used in commercial kitchens for bulk cooking. These equipments also help in the reduction of operational cost, labor cost and also increase the safety with reduction in time required for cooking. It involves the huge range of equipment which is used in restraunts, luxury hotels kitchens and catering institutions and others.
Market Dynamics and Trends
There have been various technological advancement have taken place in the market coupled with rapid developing infrastructure are expected to accelerate the market growth. Furthermore, increase in tourism and hospitality industry has also fueled the growth of 900 series cooking equipment market over the forecast period.
The other factors include increase in restraunts and chain restraunts on a global level coupled with changing lifestyle and increasing popularity for creative cooking are further expected to augment the market growth. However, high installation cost and high initial investment are expected to impede the market growth. Moreover, increase in energy efficient equipment coupled with innovation, research and strategic collaborations in the market are further expected to create new opportunities for the 900 series cooking equipment market growth in near future.
Market Segmentations and Scope of the Study:
The global 900 series cooking equipment market share is analyzed on the basis of product type, end user, and geography. On the basis of product type, the market is segmented into Ambient Worktops, Base Unit Ovens, Boiling Kettles, Bratt Pans, Fryers, Griddles, Hobs, Pasta Cookers, and Others. On the basis of end user, the market is divided into Full-Service Restaurants, Institutional Canteen, Hotel & Resorts, Quick Service Restaurants, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America represents the increased adoption of 900 series cooking equipment and expected to hold the major market share during the forecast period. This is attributable to the factors including presence of advanced technology coupled with developed infrastructure and increase in popularity about creative cooking, changing lifestyle and others.
Asia Pacific is expected to show rapid growth with gradual increase in market share over the forecast period owing to the increase in tourism and hospitality industry coupled with increase in restraunts and increased demand of energy efficient equipment are expected to enhance the market growth.
The 900 series cooking equipment market, which is highly competitive, consists of various market players. Some of the major market players include Rosinox, Charvet, Ali Group, Capic, ATA Srl, AB Electrolux, Illinois Tool Works Inc., Fagor Industrial, MKN, The Middleby Corporation and Modular Professional Srl among others.
In the past few years there have been various developments taken place in the 900 series cooking equipment market and are also expected to further takes place in near future. For instance, In July 2019 Fagor Industrial has joined the board of the Basque Culinary Center (BCC) to push for development and innovation in the field of equipment for the hotel and restaurant sector. Together they aim for higher education, research, innovation and promotion of gastronomy and nutrition.
- The 900 series cooking equipment market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
- The study comprises a deep dive analysis of the 900 series cooking equipment market trend including the current and future trends for depicting the prevalent investment pockets in the market.
- The information related to key drivers, restraints and opportunities and their impact on the 900 series cooking equipment market is provided in the report.
- The competitive analysis of the market players along with their market share in the global 900 series cooking equipment market.
- The SWOT analysis and Porters Five Forces model is elaborated in the study.
- Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.