Global Commercial Gas Range Market: by Product Type, by End User - Forecast Period
Overview
Global Commercial Gas Range Market size was valued at US$ XX Bn. in 2019 and the total revenue is expected to grow at 4.8 % through 2020 to 2026, reaching nearly US$ XX Bn.
Global Commercial Gas Range Market Overview:
Commercial Gas Range is a type of cooking equipment that is used in commercial kitchens for cooking food products. Commercial Gas Range is used for multiple purposes like frying, steaming, simmering, boiling, braising, and stewing. A wide range of Commercial Gas equipment with different features and facilities is available in the market. Commercial Gas Range is available from 12“to 72“and is observing popularity in domestic kitchens throughout the world.
The Commercial Gas Range is available from 1 burner to 10 burner range and provides manual and automatic control services. The rising demand for a single product that can do multiple cooking procedures has resulted in increased demand for Commercial Gas Range. An increase in the demand for kitchen products that will simplify the cooking procedures in commercial establishments has resulted in growth in the Global Commercial Gas Range Market.
Global Commercial Gas Range Market Dynamics:
Commercial Gas Range is economical as compared to other cooking equipment. Its ability to perform multiple functions and availability of a wide range of products has resulted in increased preference for it by new and established players in the Hospitality Industry.
Commercial Gas Range products are easy to use and reach the heating or boiling point quicker than their electric counterparts. This has resulted in its use by establishments that serve a large number of people on a daily basis. Different fast food joints like McDonald’s and KFC with global presence use Commercial Gas Range which is followed by a lot of new players entering the market.
An increase in the preference for the Commercial Gas range in domestic kitchens has been observed especially in the US, Europe, and the ASEAN countries. The growth in the market segment for Commercial Gas Range has provided an ample amount of opportunities for the growth of the Global Commercial Gas Range Market.
On 14 June 2017, Whirlpool has launched a new range of Commercial Gas Range products with features like Child Lock and dual source options in the European Market.
Growth in the global foodservice industry and rising demand for easy-to-use kitchen appliances are the major driving factor for the growth of the Global Commercial Gas Range Market.
Restraints:
The rising campaigns by the Environment protection groups over the use of non-renewable sources are the major restraining factor here.
Global Commercial Gas Range Market Segment Analysis:
The Global Commercial Gas Range Market is segmented on the basis of
By Type, It is observed that more than 55% of the commercial establishments present in the Asia-Pacific use LPG Range, while the rest of the world uses a Gas Range that works by Coal and Natural Gas. The sale of Gas Range working on Natural Gas has observed a 4% increase in the US and Europe.
By Application, The commercial Gas Range is used for different cooking techniques and performs the majority of the task associated with the use of heat in manufacturing food products. Commercial Gas Range is used as ranges and braising pans, fryers, griddles & hot plates, deck & convection oven, steam equipment, boilers, and others. It is observed that Commercial Gas Range as Convection Oven, Fryers, Hot Plates, and Braising Pan covers more than 45% of the products sold in the commercial kitchen appliances market.
By End User, Different foodservice industry members like hotels and restaurants along with the organized hospitality sector consume more than 70% of the total Commercial Gas Range equipment manufactured. Industries dealing in the processed food and beverage products have observed a 3% increase in demand which is concentrated more in the unorganized sector. Individuals dealing in sales and marketing of Commercial Kitchen Appliances have observed a 1.9% increase in the demand for Commercial Gas Range.
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An increase in demand for easy-to-use kitchen appliances has resulted in a 2.7% increase in demand for Commercial Gas Range from the unorganized Hospitality Sector. The preference for single equipment that does the majority of the work has resulted in a 2% increase in demand for Commercial Gas Range by the Restaurants that come under the Organized Sector. Limitation in the availability of space and limited capital has resulted in a 3.5% increase in the demand for Commercial Gas Range by Hotels that come under Organized Fast-food Chains.
The Food Processing Industries that come under the Organized Sector with production limit less than 150 Kg. per month have observed a 4.6% increase in demand for Commercial Gas Range. Different players dealing in Commercial Kitchen Equipments and small scale food products manufacturers use Commercial Gas Range as per need.
Global Commercial Gas Range Market Regional Insights
An increase in the acceptance of Individualism culture and the presence of a big foodservice industry has resulted in making North America the biggest market for Commercial Gas Range. The rise in the foodservice industry in this region has resulted in a 4.1% increase in demand for Commercial Gas Range.
The ever-rising population, rising preference for processed food products, and growth in the foodservice industry have resulted in a 2.3% increase in demand for Commercial Gas Range in the Asia-Pacific. It is observed that an increase in the number of hotels and restaurants that come under the unorganized sector has resulted in a 2.7% increase in sales of the Commercial Gas Range.
The preference for small in size kitchen equipment has resulted in a 2.7% increase in the sales of Commercial Gas Range in Europe. The Demand for Commercial Gas Range by the Domestic Sector has observed a 3% increase in this region.
South America is showing a 2.5% increase in demand for Commercial Gas Range owing to the rising foodservice industry in this region. The Middle East and Africa’s Market is showing a growth rate of 2% which is concentrated more in countries like Egypt, Israel, Kenya, Nigeria, and Jordan.
The objective of the report is to present a comprehensive analysis of the global Commercial Gas Range 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 Gas Range market dynamics, structure by analyzing the market segments and Project the global Commercial Gas Range market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Commercial Gas Range market make the report investor’s guide.
Global Commercial Gas Range Market Scope: Inquire before buying
Global Commercial Gas Range Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Commercial Gas Range Market Key Players
• GE Appliances
• Middleby Corporation
• ITW Food Equipment Group LLC
• Electrolux AB
• Comstock-Castle Stove Co., Inc.
• Elica SPA
• Whirlpool Corporation
• Elster GmbH
• POWRMATIC Ltd.
• S & S Northern
• Comet Kitchen Company
• ICS Engineering
• Kanteen India Equipments Co.
• Jindal Gas Appliances Pvt. Ltd.
• Shree Ambica Industries
Frequently Asked Questions:
1. Which region has the largest share in Global COMMERCIAL GAS RANGE Market?
Ans: South America region holds the highest share in 2020.
2. What is the growth rate of Global COMMERCIAL GAS RANGE Market?
Ans: The Global COMMERCIAL GAS RANGE Market is growing at a CAGR of 4.8 % during forecasting period 2021-2027.
3. What segments are covered in Global COMMERCIAL GAS RANGE market?
Ans: Global COMMERCIAL GAS RANGE Market is segmented into Type, Application, End User and Region.
4. Who are the key players in Global COMMERCIAL GAS RANGE market?
Ans: The important key players in the Global COMMERCIAL GAS RANGE Market GE Appliances,Middleby Corporation,ITW Food Equipment Group LLC,Electrolux AB,Comstock-Castle Stove Co., Inc.,Elica SPA,Whirlpool Corporation
5. What is the study period of this market?
Ans: The Global COMMERCIAL GAS RANGE Market is studied from 2020 to 2027.