Global Commercial Ventless Cooking Equipment Market | Recent Trends, In-depth Analysis, Research Report And Forecast up to 2027
Commercial Ventless Cooking Equipment Market Overview:
The purpose of this study is to provide an in-depth analysis of the Commercial Ventless Cooking Equipment market by segments, industry, and geography. The study provides detailed information on the major factors influencing the growth of the Commercial Ventless Cooking Equipment industry. The study also provides a thorough examination of the market's value chain.
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Global Commercial Ventless Cooking Equipment Market size was valued at US$11.85 Bn in 2020 and expected to reach US$ 16.67 Bn by 2027 at a CAGR of 5% during the forecast period.
Market Scope:
The research method used to assess and forecast the Commercial Ventless Cooking Equipment market begins with gathering revenue data from key suppliers using secondary research sources. When defining market segmentation, vendor offerings are also considered. Using the bottom-up method, the income of major corporations was utilized to assess the total size of the Commercial Ventless Cooking Equipment market.
Drivers:
The main drivers of market growth for commercial ventless cooking equipment are rising automation in the food and beverage sector and rising demand for highly efficient cooking systems for high-end restaurants that accept large orders. Additional factors that are thought to significantly support market growth include the growing demand for a heat recovery system and a temperature-controlled environment for cooking some of the more delicate cuisines.
The fact that manufacturers and newcomers to the market are heavily investing in offering self-controlled and automated systems for ventless cooking is anticipated to favourably impact the commercial ventless cooking equipment market over the course of the forecast period.
Segmentation:
The commercial ventless cooking equipment market is divided based on equipment type into ventless fryers, ventless ovens, and others. With an estimated 52% market share in 2020, ventless ovens will be the market's dominant segment. Globally rising fast food demand and extensive use of commercial ovens in the mass production of high-grossing foods like burgers, pizzas, and other dishes are contributing factors to the segment's expansion.
KFC, an American fast food restaurant chain, claims that almost all of its locations use ventless ovens. The company also claims to have partnered with Eagle Frizzell for installation and manufacturing, putting the company under contract for about $300 million USD.
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Key Players: the key players are:
• Hatco Corporation
• Motion Technology, Inc.
• Ali Group
• Giles Foodservice Equpment
• Eagle Frizzell
• Welbilt
• Middleby Corporation
• Pasco
• MTI Products
• Target Catering Equipment
• Wells Manufacturing Co. Ltd.
• Zline Kitchen
• Lorman
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Regional Analysis:
Market share information for North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America are available separately. Maximize analysts assess competitive strengths and conduct competitive analysis on each rival separately.
COVID-19 Impact Analysis on Commercial Ventless Cooking Equipment Market: The detailed review of COVID-19 impact on the Commercial Ventless Cooking Equipment market based on import, suppliers, ket players have also been included in the Commercial Ventless Cooking Equipment market report.
Key Questions Answered in the Commercial Ventless Cooking Equipment Market Report are:
- Which segment had the largest share in the Commercial Ventless Cooking Equipment market?
- How is the competitive landscape of the Commercial Ventless Cooking Equipment market?
- Which are the key factors impacting the Commercial Ventless Cooking Equipment market growth?
- Which region has the maximum share in the Commercial Ventless Cooking Equipment market?
- What will be the CAGR of the Commercial Ventless Cooking Equipment market during the forecast period (2021-2027)?
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