The global commercial countertop ranges market is expected to be valued at USD 11.4 Billion in 2023. With the increasing demand for compact & portable cooking equipment, the overall scope for commercial countertop ranges market is projected to grow at a CAGR of 3.3% between 2023 and 2033, totaling around USD 15.8 Billion by 2033.
| Data Points | Key Statistics |
|---|---|
| Commercial Countertop Ranges Market Value 2023 | USD 11.4 billion |
| Commercial Countertop Ranges Market Projected Value (2033) | USD 15.8 billion |
| Commercial Countertop Ranges Market CAGR (2023 to 2033) | 3.3% |
According to the analysis of Future Market Insights, advancements in technology is one of the major factors that is playing a crucial role in driving the growth of the commercial countertop ranges market. Many manufacturers have been designing countertop ranges that feature advanced controls, precise temperature management, and other features that help improve cooking efficiency and consistency. Additionally, some models now come equipped with features such as WiFi connectivity, allowing chefs to monitor and control their cooking equipment remotely.
Furthermore, the changing preferences of consumers are also driving the growth of the commercial countertop ranges market. As more consumers opt for healthy and locally sourced food, there is a growing demand for equipment that can accommodate these trends. Countertop ranges that feature energy-efficient cooking methods and the ability to cook multiple dishes simultaneously are particularly attractive to foodservice operators looking to meet these changing consumer preferences.
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The global demand for Commercial Countertop Ranges is projected to increase at a CAGR of 3.3% during the forecast period between 2023 and 2033, reaching a total of USD 15.8 Billion in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, the demand witnessed significant growth, registering a CAGR of 2.4%. According to Future Market Insights, a market research and competitive intelligence provider, the commercial countertop ranges market was valued at USD 11.0 Billion in 2022.
The regulations on greenhouse gas emissions, is a major factor that is projected to escalate the market growth in the forthcoming years. Governments have implemented regulations aimed at reducing greenhouse gas emissions in the commercial kitchen equipment market. For instance, in the European Union, the Ecodesign Directive sets requirements for the energy efficiency and environmental performance of commercial kitchen equipment, including countertop ranges.
Moreover, the governments offer financial incentives, such as tax credits or grants, for businesses that purchase energy-efficient commercial kitchen equipment, including countertop ranges. For instance, in the United States, the federal government offers tax credits for businesses that purchase energy-efficient commercial kitchen equipment.
In addition, the governments have also implemented energy efficiency standards for commercial kitchen equipment, including countertop ranges. In the United States, the Department of Energy has established minimum efficiency standards for commercial cooking equipment, including countertop ranges, which must meet certain energy efficiency levels to be sold in the USA market.
Increasing Demand for Energy-Efficient Equipment to Fuel the Market Growth
Energy efficiency has become a significant concern in the commercial kitchen equipment industry. Commercial kitchen equipment is one of the largest consumers of energy in the foodservice industry, and energy costs are a significant expense for restaurants and other foodservice providers. In addition to being costly, energy consumption contributes to greenhouse gas emissions, which can harm the environment. This has led to an increasing demand for energy-efficient commercial kitchen equipment, including commercial countertop ranges.
Energy-efficient commercial countertop ranges can help foodservice providers save money on utility bills while also reducing their environmental impact. Manufacturers are investing in the development of energy-efficient commercial countertop ranges to meet this growing demand from consumers.
These ranges use advanced technologies such as induction heating, infrared heating, and precision temperature control to provide fast and efficient cooking while using less energy than traditional ranges. Additionally, some manufacturers are incorporating smart features into their commercial countertop ranges, allowing operators to monitor energy usage and adjust settings to optimize energy efficiency.
Surging Foodservice Industry to Accelerate the Market Growth
The foodservice industry is experiencing steady growth globally, driven by several factors such as changing lifestyles, increasing disposable income, and the rise of the gig economy. The busy lifestyles of modern consumers have led to an increase in the number of people who eat out or order food for delivery, creating a demand for commercial kitchens and foodservice equipment. As a result, the demand for commercial countertop ranges is expected to increase as well, as these ranges are a critical piece of equipment in any commercial kitchen.
The expansion of the foodservice industry in emerging markets is creating new opportunities for manufacturers of commercial countertop ranges. As more people in these regions adopt Western-style diets and lifestyles, the demand for commercial kitchens and equipment is likely to increase. Additionally, the trend of eating out or ordering food for delivery is catching up in these markets, further increasing the demand for commercial kitchen equipment.
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High Cost of Commercial Countertop Ranges to Restrain the Market
The high cost of commercial countertop ranges is one of the significant factors limiting the growth of the market. Commercial countertop ranges are designed for professional use and are built to withstand the rigors of a busy commercial kitchen. As a result, they are made from high-quality materials and are designed to be durable and long-lasting.
However, the use of premium materials and advanced technology increases the cost of manufacturing commercial countertop ranges. This translates to higher prices for end-users, which may deter some customers from purchasing commercial countertop ranges.
In addition, the installation and maintenance costs of commercial countertop ranges can be high, especially if they require specialized electrical or gas connections. As a result, some businesses may opt for cheaper alternatives, such as residential ranges, which may not be as durable or efficient as commercial countertop ranges.
Availability of Alternative Cooking Equipment to Limit the Market Growth
Another factor limiting the growth of the commercial countertop ranges market is competition from alternative cooking equipment. There are several types of cooking equipment available in the market, including convection ovens, griddles, and fryers, which can perform similar functions to commercial countertop ranges. These alternatives may be cheaper, more versatile, or easier to operate than commercial countertop ranges, making them attractive to some foodservice providers.
Additionally, advances in technology have led to the development of innovative cooking equipment, such as sous-vide machines and combi ovens, which can provide more precise temperature control and improve cooking consistency. These alternatives are gaining popularity in the foodservice industry and may further hamper the demand for commercial countertop ranges.
Technological Advancements in North America to Fuel the Market Growth
The commercial countertop ranges market in North America is expected to accumulate the highest market share of 43% in 2023. The regional market is highly competitive, and manufacturers are continuously innovating to improve their products' efficiency and functionality. North American manufacturers have been at the forefront of technological advancements in commercial kitchen equipment, including commercial countertop ranges.
For instance, manufacturers in the region are investing in research and development to create energy-efficient countertop ranges that help foodservice establishments save on energy costs. Additionally, manufacturers are incorporating smart features into their products, such as remote monitoring and control, to make them more user-friendly. These technological advancements are likely to sustain North America's dominance in the commercial countertop ranges market.
Furthermore, the demand for energy-efficient commercial kitchen equipment, including commercial countertop ranges, is growing globally. This demand is driven by concerns about environmental sustainability and the need to reduce operating costs.
North American manufacturers have been quick to respond to this trend, developing energy-efficient commercial countertop ranges that are compliant with energy efficiency regulations. This focus on energy efficiency is likely to sustain North America's dominance in the commercial countertop ranges market. The United States is expected to hold the highest share of 31.0% during the forecast period.
Rising Awareness Regarding Food Safety & Hygiene in the Region to Fuel the Market Growth
The commercial countertop ranges market in Asia Pacific is expected to accumulate the highest market share of 42% in 2023. Urbanization is a major factor that is driving the regional market. As more people move to cities and urban areas, the demand for foodservice establishments such as restaurants, cafes, and hotels is increasing. This trend is particularly evident in countries such as India and China, where rapid urbanization is fueling the growth of the foodservice industry. As the demand for foodservice establishments grows, there is an increasing need for modern commercial kitchen equipment such as commercial countertop ranges.
Moreover, the awareness of food safety and hygiene is growing in Asia Pacific, driven by factors such as increasing incidences of foodborne illnesses and a growing concern about food quality. As a result, foodservice establishments are investing in modern commercial kitchen equipment to ensure food safety and hygiene.
Commercial countertop ranges are designed to meet the highest standards of food safety and hygiene, making them an attractive option for foodservice establishments that prioritize food safety and hygiene. This trend is expected to drive the growth of the commercial countertop ranges market in Asia Pacific. China held the largest market share of 6.2% in the region.
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Countertop Electric Ranges with Standard Oven Segment to beat Competition in Untiring Market
On the basis of type, the global Commercial Countertop Ranges market is dominated by countertop electric ranges segment, which is expected to hold a CAGR of 3.2% over the analysis period. The segment is growing as these ranges offer many benefits over other types of countertop ranges, such as gas or induction. For instance, electric countertop ranges are generally more energy-efficient, easier to install and use, and require less maintenance. Additionally, electric ranges are often preferred in environments where there are restrictions on the use of gas.
Additionally, the increasing adoption of energy-efficient kitchen equipment and the growing demand for convenient and easy-to-use cooking appliances are expected to drive the segmental growth in the near future. Moreover, the increasing number of small and medium-sized food service establishments, particularly in emerging economies, is expected to further boost the demand for commercial countertop ranges, including electric countertop ranges. These factors are likely to contribute to the growth of the commercial countertop ranges market in the forthcoming years.
Restaurants Segment to Drive the Commercial Countertop Ranges Market
Based on the end-user, the restaurants segment is expected to expand at rapid rate of 3.1% CAGR over the analysis period. The segment is growing as the restaurants, particularly small and medium-sized establishments, are one of the major end-users of commercial countertop ranges. Countertop ranges are ideal for restaurants as they take up less space and are more cost-effective compared to larger commercial ranges. Additionally, countertop ranges offer flexibility in terms of placement and usage, allowing restaurants to use them for a variety of cooking tasks.
Furthermore, the increasing number of small and medium-sized restaurants, particularly in emerging economies, is expected to drive the demand for commercial countertop ranges during the forecast period. Moreover, the growing trend of "fast casual" dining, which combines the convenience of fast food with the quality and experience of casual dining, is expected to further fuel the demand for commercial countertop ranges in restaurants. These factors are likely to contribute to the growth of the commercial countertop ranges market in the near future.
Who are the Leading Players in the Commercial Countertop Ranges Market?
Prominent players in the commercial countertop ranges market are Garland/US Range, Vulcan, Wolf, Bakers Pride, Star Manufacturing International, Turbo Air, Globe Food Equipment Company, Southbend, Atosa, Avantco Equipment, Toastmaster, Imperial Commercial Cooking Equipment, American Range, Montague Company, Nemco Food Equipment, Lang Manufacturing, Pitco Frialator, Vollrath Company, Globe Chefmate, and CookTek among others.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.3% from 2023 to 2033 |
| Market Value in 2023 | USD 11.4 Billion |
| Market Value in 2033 | USD 15.8 Billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, Power Source, Power Rating, End User, Region |
| Regions Covered | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Key Countries Profiled | United States, Canada, Brazil, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Thailand, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | CookTek; Panasonic Holdings Corporation; The Vollrath Company; Garland Group; Elecpro; APW Wyott; Equipex; True Induction Cookware; Globe Food Equipment Co.; Lincat Limited; Buffalo Cookware; Fisher & Paykel Appliances Limited |
| Report Customization | Available upon Request |
As of 2022, the market for commercial countertop ranges was valued at USD 11.0 billion, as per FMI
By 2023-end, demand for commercial countertop ranges closed at a value of USD 11.4 billion
From 2017 to 2022, commercial countertop ranges demand expanded at a CAGR of 2.4%
From 2023 to 2033, commercial countertop ranges sales are expected to flourish at a CAGR of 3.3%
By 2033, the market value of commercial countertop ranges is expected to reach USD 15.8 billion.
1. Executive Summary | Commercial Countertop Ranges Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Countertop Gas Ranges 5.2. Countertop Electric Ranges 5.3. Countertop Induction Ranges and Induction Cookers 5.4. Heavy Duty Gas Countertop Ranges 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Power Source 6.1. Gas 6.2. Electrical 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Power Rating 7.1. 120V 7.2. 240V 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 8.1. Restaurants 8.2. Hotels 8.3. Canteens 8.4. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Panasonic Corporation 17.2. CookTek 17.3. The Vollrath Company, LLC 17.4. Garland Group 17.5. Elecpro 17.6. APW Wyatt 17.7. Equipex 17.8. True Induction 17.9. Globe Food Equipment Co. 17.10. Lincat Limited 17.11. Buffalo 17.12. Fisher & Paykel Appliances Limited 18. Assumptions & Acronyms Used 19. Research Methodology
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Commercial Countertop Ranges Market
