The global commercial electric restaurant ranges market is poised for a sizzling transformation, with a projected valuation of US$ 44.5 billion in 2023 and an exhilarating forecast that anticipates reaching a remarkable US$ 76.8 billion by 2033. This impressive growth trajectory, estimated at a compelling CAGR of 5.6% between 2023 and 2033, reflects a dynamic industry propelled by multiple factors.
In-depth analysis by Future Market Insights underscores the pivotal role of economic prosperity, as the steady rise in disposable incomes fuels the demand for Commercial Electric Restaurant Ranges. As consumers increasingly indulge in dining out experiences, the restaurant industry is primed for expansion, driving the need for efficient and eco-friendly cooking equipment.
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The increasing demand for energy-efficient and eco-friendly kitchen appliances is one of the primary factors driving the growth of the commercial electric restaurant ranges market. Commercial kitchens are looking for appliances that can help them reduce their energy consumption and environmental footprint as energy costs rise and there is a growing awareness of the need to reduce carbon emissions. Electric ranges are an excellent choice because they use less energy than gas ranges and do not emit harmful pollutants.
Another factor driving market growth is the growing popularity of electric cooking. As more people adopt plant-based and healthier diets, they are looking for cooking methods that are both healthy and sustainable. Cooking vegetables and other plant-based foods requires precise temperature control, which electric cooking provides. Furthermore, electric ranges do not emit the same amount of heat and smoke as gas ranges, making them a safer and more comfortable option for the kitchen.
Additionally, the rise of the foodservice industry is also driving the growth of the commercial electric restaurant ranges market. As more restaurants, cafes, and other foodservice businesses open up, the demand for commercial kitchen appliances is increasing. Commercial electric ranges are becoming more popular as they offer better control over temperature and provide consistent cooking results. Additionally, electric ranges are easier to clean and maintain, which is essential in a busy commercial kitchen.
Key Takeaways from the Market Study:
- Global commercial electric restaurant ranges market was valued at US$ 42.1 Billion by 2022-end
- From 2017 to 2022, the market demand expanded at a CAGR of 3.3%
- The United States is expected to hold the highest market share of 33.4% during the forecast period.
- The Indian market is anticipated to witness a market share of 6.3%
- From 2023 to 2033, commercial electric restaurant ranges services are expected to flourish at a CAGR of 5.6%.
- By 2033, the market value of commercial electric restaurant ranges is expected to reach US$ 76.8 Bn.
- By Type, the Commercial Electric Ranges with Standard Oven segment is expected to constitute a CAGR of 5.4% in 2033.
- On the basis of Application, the Full-Service Restaurants segment is expected to dominate the market with a CAGR of 5.3% in 2033.
“The increasing focus on food safety & hygiene, as well as surging technological advancements in the commercial electric restaurant ranges are the major factors that are anticipated to boost the market growth in the near future,” remarks an FMI analyst.
Key Players:
- Alto-Shaam, Inc.
- Vulcan
- Garland Group
- Blue Seal Limited
- Lang World
- Rational AG
- Blodgett
- Electrolux AB
- MKN Maschinenfabrik Kurt Neubauer GmbH & Co. KG
- Falcon Foodservice Equipment
- Stove Systems Pty Ltd
- G.S. BLODGETT CORPORATION
- Moffat Group Pty Ltd
- American Range Corporation
- Garland Commercial Industries LLC
- Southbend
- Montague Company
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Key Segments Covered:
Commercial Electric Restaurant Ranges Market by Type:
- Commercial Electric Ranges with Standard Oven
- Commercial Electric Ranges without Standard Oven
Commercial Electric Restaurant Ranges Market by Power Rating:
- 208V
- 240V
- 480V
Commercial Electric Restaurant Ranges Market by Application:
- Quick Service Restaurants
- Full-Service Restaurants
- Hotels
- Other Food Services
Commercial Electric Restaurant Ranges Market by Region:
- North America
- Europe
- Europe
- Latin America
- Middle East & Africa
Author:
Ronak Shah (Associate Vice President at Future Market Insights) is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.
What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers’ shifting preferences.
She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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