Kitchen equipment are designed and manufactured for cooking, baking, cleaning, storing. Most of the kitchen equipment function on electricity, while others operate on gas or solar energy such as stove, chimney, and cooker. Kitchen equipment available in the market can be employed for activities such as cooking, cutting, baking, and cleaning of various cutleries and glasses. Many large international and small suppliers operate in the market. The choice of investing in kitchen equipment depends on the need and budget of the consumer and the type, size, shape, model, brand, and potential of the product such as ecofriendly and less consumption of electricity feature.
Commercial equipment is primarily used to prepare food for large number of consumers. Therefore, players in market are manufacturing products that are durable, easy to operate, and robust. Additionally, kitchen equipment can be categorized into receive & store food, fabricate & prepare food, prepare & process food, assemble & serve food and cleaning up & sanitize kitchen & kitchen ware.
The kitchen equipment market is primarily driven by the rise quality concerns of the hospitality industry, need for modular & advanced kitchen equipment, and increase in spending power of the population. Other factors such as smart appliances and cost effective & eco-friendly equipment are influencing the market. Rising concerns toward health and hygiene, growing penetration of restaurants and food junctions, need for smart & compact kitchen appliances, and increasing number of working population are boosting the demand for smart kitchen appliances. This, in turn, is propelling the kitchen equipment market. Moreover, rise in adoption of ease of handling equipment having energy efficient and time saving feature are factors that are expected to fuel the market. Additionally, the hospitality sector is growing in emerging economies, especially in Asia Pacific.
This is expected to boost the kitchen equipment market during the forecast period. However, high cost of smart & advance equipment, lack of awareness in underdeveloped nations, poor quality of kitchen equipment and local players are expected to restrain the market. However, rise in demand for modular, compatible, and smart & advance kitchen equipment is expected to create significant opportunities for the global market.
The global kitchen equipment market can be classified based on product type, end-user, and region. In terms of product type, the kitchen equipment market can be segmented into electronic kitchen equipment, such as induction cooktops, coffee makers, grinders, microwave, baking ovens, refrigerators, induction steamers & cookers, toaster, mixers & juicers, and dishwashers; non electronic kitchen equipment, such as griller, barbecue, stockpots, saucepans & frying pans, peelers, cores & slicers, cutlery equipment; and others, such as kitchen utensils. Based on end-user, the kitchen equipment market can be divided into household, hotels & restaurants, food junctions & stalls, and others, which includes caterers, clubs, resorts, railway dining, cruises, and hospitals. In terms of region, the global kitchen equipment market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Major players operating in global kitchen equipment market include Electrolux, Oneida, Pyrex Cook ware, Illinois Tool Works Inc., Whirlpool, Samsung, Morphy Richards, MiddleBy, True Manufacturing, AIHO, Hamilton Beach, Hobart Corporation, Fujimak Corporation, Manitowac Company Inc., and Duke Manufacturing Co. Inc. Key companies focus on increasing their R&D capabilities to diversify their product range. They are also enhancing distribution channels and quality of the product with the introduction of new designs to increase their market share. Players in the kitchen equipment market are likely to face competition due to the presence of local manufacturer. This is likely to lead to the introduction of several products in the market during the forecast period.
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The following regional segments are covered comprehensively:
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1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
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