Commercial Cooking Equipment Market by Product Type (Broilers, Grills, Cook-Chill Systems, Refrigerators, Ovens, Dishwashers, and Others), and by End Use (Full-service Restaurants, Quick-Service Restaurants, Catering, Railway, Dining, Institutional Canteen, Resort and Hotel, Hospital) - Global Opportunity Analysis and Industry Forecast 2023-2030

Market Definition

The global Commercial Cooking Equipment Market size was valued at USD 12.04 billion in 2022 and is predicted to reach USD 19.41 billion by 2030 with a CAGR of 7.1% from 2023-2030. Commercial cooking equipment refers to a diverse range of appliances and tools designed for use in professional kitchens and food service establishments. These robust and efficient pieces of equipment are specifically built to handle the high demands and volume of cooking required in commercial settings like restaurants, hotels, and catering businesses. They include essential items such as ranges, griddles, sauté pans, and refrigeration equipment.

The commercial cooking equipment enables chefs and cooks to prepare large quantities of food quickly and consistently, ensuring efficient operations and high-quality dishes. These appliances plays a vital role in the culinary industry by facilitating the production of delicious meals on a commercial scale.

Market Dynamics and Trends

The thriving food industry, driven by the growing number of food establishments including restaurants, hotels, and catering businesses is driving the demand for commercial cooking equipment market. Moreover, technological advancements such as energy-efficient designs, digital controls, and automation, which enhance productivity, reduce cooking times, and improved overall efficiency, is further driving the growth of the market.

Furthermore, the rise in the number of quick-service restaurants that require efficient and specialized equipment to handle high volumes of food production in a fast-paced environment is driving the growth of the commercial cooking equipment market. However, the high initial investment cost of commercial cooking equipment may pose a financial challenge for small businesses restraining the growth of the market.

On the contrary, the introduction of smart and connected features such as touchscreen interfaces, remote monitoring and maintenance along with advanced sensors and built-in recipe libraries or pre-programmed cooking profiles in cooking equipment is further driving the market growth.

Market Segmentations and Scope of the Study

The commercial cooking equipment market is segmented on the basis of product type and end user. On the basis of product type, the market is classified into broilers, grills, cook-chill systems, refrigerators, ovens, dishwashers, and others. On the basis of end user, the market is divided into full-service restaurants, quick-service restaurants, catering, railway dining, institutional canteen, resort and hotel, and hospital. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and Rest of the world (RoW). 

Geographical Analysis

The commercial cooking equipment market across the North America region accounted for the highest market share and is expected to continue dominating the market throughout the forecast period. This is attributed to factors such as the presence of energy-efficient and technologically advanced commercial cooking equipment such as multi-purpose automated ovens, automated dishwashers, and others. For instance, in June 2020, Alto-Shaam launched a new ChefLinc remote oven management application. The cloud-based software allows owners to control the ovens through a PC or smartphone.

Also, the presence of key market players in this region such as Atosa USA, Alto-Shaam Inc., Illinois Tool Works Inc., The Middleby Corporation, and others play a significant role in the development of commercial cooking equipment market. For instance, in February 2021, The Middleby Corporation announced the opening of Middleby Innovation Kitchens (MIK). The 40,000-square-foot fully functional facility features more than 150 latest cooking, beverage, automation, and IoT innovations of cooking equipment. It aims to promote the use of advance cooking equipment to both household and commercial consumers.

On the other hand, Asia Pacific is expected to show a steady rise in the commercial cooking equipment market. This is attributed to the factors such as the rapidly expanding tourism sector, and increasing number of hotel establishments by both regional and global hospitality companies. For instance, in September 2022, Marriott, a renowned hospitality company, announced its plans to add 14 new luxury properties in the Asia Pacific region by the end of 2023, which signifies the increasing demand for high-quality commercial cooking equipment to cater to the diverse culinary offerings of these new hotel establishments.

Moreover, the growing fast food and quick service restaurants industry in this region is further boosting the growth of commercial cooking equipment market in this region. According to international stock market and financial news website, MarketScreener, China's commercial kitchen equipment market is the fastest-growing market in 2022. Commercial cooking equipment such as commercial display fridges, refrigerators, disinfection cabinets, water boilers, and electric convention ovens were the top categories in demand in China.

Competitive Landscape

The commercial cooking equipment market comprises various market players such as Illinois Tool Works (ITW), Inc., Alto-Shaam, Inc., Middleby Corporation, Duke Manufacturing, Atosa USA, Welbilt, Inc., Dover Corporation, Electrolux, Ali Group S.R.L. and Comstock-Castle Stove Co., Inc, and others. These market players are implementing expansion of businesses across various zones, merger & takeovers, and developing innovative products to maintain their foothold in the commercial cooking equipment market.

For instance, in May 2022, in May 2022, Dover Corporation acquired Tyler Refrigeration, a prominent player in the commercial refrigeration industry. This significant move expands Dover's presence in the commercial refrigeration market and enables it to offer a broader range of innovative refrigeration solutions and strengthen its position as a leading player in the industry.

Moreover, in May 2021, Alto-Shaam Inc. launched Vector H Series multi-cook ovens line, built for 16-inch pizzas. The new ovens are specifically designed for food service operations. The ovens include four independently controllable chambers allowing them to simultaneously cook a variety of food with no flavor transfer.

Key Benefits

• The report provides a quantitative analysis and the estimations of the commercial cooking equipment market from 2023 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep dive analysis of the current and future commercial cooking equipment market trends, to depict the prevalent investment pockets in the market.

• Information related to the key drivers, restraints, and opportunities and their impact on the commercial cooking equipment market is provided in the report. 

• Competitive analysis of the key players, along with their market share is provided in the report.

• SWOT analysis and a Porter's Five Forces model is elaborated on in the study.

• Value chain analysis in the market study provides a clear picture of the roles of the stakeholders.

Commercial Equipment Market Key Segments

By Product Type

• Broilers

• Grills

• Cook-Chill Systems

• Refrigerators 

• Ovens

• Dishwashers

• Others

By End User

• Full-service Restaurants

• Quick-Service Restaurants

• Catering

• Railway Dining

• Institutional Canteen

• Resort and Hotel

• Hospital

By Region

• North America

  • U.S

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • Italy

  • Spain

  • United Kingdom

  • Russia

  • Sweden

  • Rest of Europe 

• Asia-Pacific

  • Australia

  • China

  • India

  • Japan

  • South Korea

  • Indonesia

  • Singapore

  • Rest of Asia-Pacific

• Rest of the World (RoW)

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION:

Test