Global Commercial Ventless Cooking Equipment Market size was valued at US$ XX Mn in 2019 and expected to reach US$ XX Mn by 2019 at a CAGR of 5% during the forecast period.
The Global Commercial Ventless Cooking Equipment market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The Global Commercial Ventless Cooking Equipment report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Commercial Ventless Cooking Equipment Market
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Global Commercial Ventless Cooking Equipment Market Overview:
Commercial ventless cooking equipment does not need any kind of vents or hoods for cooking purpose. Instead, they are completely enclosed to make sure that no steam or fumes get outside the cooking unit while in operation. Moreover, ventless cooking equipment consists of an internal venting system that allows passing the steam easily. Owing to the completely enclosed design of the system, it prevents foreign intrusion of particles including dust, air and light entering the cooking equipment and prevents the system from getting damaged.
The intricate design of the system and the high production rate of the equipment are the factors considered to drive the commercial ventless cooking equipment market growth. The system is very convenient for the operators in the commercial cooking areas including hotels and restaurants. Hence, ventless cooking equipment is getting very popular nowadays owing to their growing demand and use in various food establishments across the globe.
Global Commercial Ventless Cooking Equipment Market Dynamics:
Increasing automation in the food and beverages industry and increasing demand for the highly efficient cooking system for high-class restaurants that take orders in bulk are the key factors attributing growth in the commercial ventless cooking equipment market. Furthermore, the rising need for a heat recovery system and temperature-controlled environment for cooking some of the delicate cuisines are the factors considered to support the market growth to a high extent.
Manufacturers and emerging players in the market are highly investing in providing the self-controlled and automated system for ventless cooking is the expected factor considered to create the opportunities for the commercial ventless cooking equipment market during the forecast period.
High cost related to maintenance and initial manufacturing of the ventless cooking equipment and increasing no. of end-users preferring commercial cooking methods instead of investing in the costly ventless cooking equipment installation are the key factors restraining the market growth and expected to pose challenges for the market during the forecast period.
Commercial Ventless Cooking Equipment Market segmentation:
Based on equipment type, the commercial ventless cooking equipment market is segmented into ventless fryers, ventless ovens and others. Ventless ovens is the dominating segment in the market with approximately 52% market share during the year 2019. Factors attributing to the growth of the segment are increasing demand for fast foods across the globe and high use of commercial ovens on large scale in mass production of high grossing food including burgers, pizzas and other dishes.
According to KFC, an American Fast foods restaurant chain, the company used ventless ovens in nearly all of their restaurants and joined a venture with Eagle Frizzell for installation and manufacturing purpose posing an approximately 300 million USD contract with the company. Ventless fryers is the second dominating segment owing to the increasing demand for fried products across the globe.
Global Commercial Ventless Cooking Equipment Market 1
Based on technology, the market is bifurcated into mechanical filtration and electronic filtration. The electronic filtration process is the dominating technology segment in the market with approximately 70% market share owing to no gas liberation in the electronic equipment and smooth flow of the process leaving almost negligible byproducts during the process.
On the other hand, mechanical filtration is the second dominating segment owing to the use of highly calibrated pumps and filters in the system. But, a mechanical filtration system requires more power and poses high maintenance cost making it less popular in restaurant owners and distributors.
Global Commercial Ventless Cooking Equipment Market 2
Based on application, the commercial ventless cooking equipment market is segregated into hotels, restaurants and organizational kitchens. Restaurants are the dominating segment in the market with approximately 42% market share in the year 2019 owing to increasing outdoor activities by the consumers and increasing disposable income of people across emerging economies of the globe.
Although, according to the Institute of Hotel Management (IHM), Covid impact on the restaurants is substantial and expected to cause a loss of approximately 48% market cap during the pandemic period.
Impact of Covid pandemic on the Commercial Ventless Cooking Equipment market:
Covid pandemic is expected to pose a low to moderate impact on the Commercial Ventless Cooking Equipment Market owing to the effects of a pandemic on the research and manufacturing activities across the globe. Strict government norms and increasing cost of transportation owing to supply chain distortion and lowering of manufacturing activities are the factors considered to slightly declining the market growth of Commercial Ventless Cooking Equipment machines. The market is expected to expand during the forecast period owing to increasing demand in the supply chain and various commercial activities pick up the speed.
According to Ali Group, Commercial Ventless Cooking Equipment Market sustained a heavy damage owing to disruption in restaurants and hoteling services across the globe due to stringent lockdown norms imposed by various governments. Moreover, the company stated that the market is expected to reach approximately 12% market growth post-pandemic owing to the reopening of food and beverage service providers in the market.
Global Commercial Ventless Cooking Equipment Market Regional Insights:
North America holds the major share in the Commercial Ventless Cooking Equipment Market with approximately 46% of total revenue share in the Commercial Ventless Cooking Equipment Market registering approximately 8% CAGR in the year 2019 owing to increasing demand for innovation and product development in the market. Moreover, increasing disposable income of the consumers and the well-established healthcare sector are the supporting factors considered to drive the market growth in the region.
The Asia Pacific is the fastest-growing region in the Commercial Ventless Cooking Equipment Market with approximately 34% market share. Factors attributing growth in the market are an abundance of key manufacturers of Commercial Ventless Cooking Equipment in the region and increasing manufacturing of products keeping the changing needs of consumers in mind. China holds the largest market share of approximately 48% owing to the increasing no. of key players in the region related to the manufacturing sector.
Global Commercial Ventless Cooking Equipment Market 3
The objective of the report is to present a comprehensive analysis of the Global Commercial Ventless Cooking Equipment Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Commercial Ventless Cooking Equipment Market dynamics, structure by analyzing the market segments and project the Global Commercial Ventless Cooking Equipment Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the Global Commercial Ventless Cooking Equipment Market make the report investor’s guide
Global Commercial Ventless Cooking Equipment Market Scope: Inquire before buying
Global Commercial Ventless Cooking Equipment Market 4
Global Commercial Ventless Cooking Equipment Market, by Region
• North America
o CIS Countries
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
• Middle East and Africa
o South Africa
o GCC Countries
o Rest of ME&A
• South America
o Rest of South America
Global Commercial Ventless Cooking Equipment Market Key Players
• Hatco Corporation
• Motion Technology, Inc.
• Ali Group
• Giles Foodservice Equpment
• Eagle Frizzell
• Middleby Corporation
• MTI Products
• Target Catering Equipment
• Wells Manufacturing Co. Ltd.
• Zline Kitchen
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