The global Commercial Electric Restaurant Ranges market size is expected to be valued at USD 44.5 Billion in 2023. With the continual economic growth rise in the disposable incomes of people, the overall scope for Commercial Electric Restaurant Ranges Market is projected to grow at a CAGR of 5.6% between 2023 and 2033, totaling around USD 76.8 Billion by 2033.
| Data Points | Key Statistics |
|---|---|
| Commercial Electric Restaurant Ranges Market Value 2023 | USD 44.5 Billion |
| Commercial Electric Restaurant Ranges Market Projected Value (2033) | USD 76.8 Billion |
| Commercial Electric Restaurant Ranges Market CAGR (2023 to 2033) | 5.6% |
According to the analysis of Future Market Insights, with rising energy costs and concerns about the environment, energy efficiency is a significant driver of growth in the Commercial Electric Restaurant Ranges Market. Electric ranges are more energy-efficient than gas ranges, which can lead to cost savings for commercial kitchens in the long term. Additionally, electric ranges emit fewer pollutants than gas ranges, making them a more environmentally friendly option. In addition, electric ranges offer precise temperature control, which is essential for cooking delicate foods like fish or vegetables. This precision and control are highly valued in commercial kitchens, where consistency is critical for producing high-quality dishes. This is another factor that is likely to augment the market growth during the forecast period.
Furthermore, electric ranges are safer than gas ranges as they do not emit flames or fumes. Also, these ranges are easier to clean and maintain, which is essential for maintaining a safe and hygienic kitchen. These ranges are easy to use, making them an ideal option for novice cooks or those who are new to the restaurant industry. Moreover, electric ranges require less ventilation than gas ranges, making them a more flexible option for kitchen layouts and designs. There is a growing demand for healthier food options in the restaurant industry, and electric ranges can help meet this demand. With precise temperature control and a range of cooking surfaces, electric ranges can be used to cook a variety of healthy dishes, such as grilled vegetables and lean proteins. These factors are anticipated to boost the market prospects in the near future.
The growing popularity of cooking shows and celebrity chefs, as well as the rising adoption of cloud-based software & digital tools, are anticipated to propel the growth of the Commercial Electric Restaurant Ranges market in the near future.
Increasing adoption of cloud-based software and digital tools: The restaurant industry is increasingly adopting cloud-based software and digital tools to optimize their operations, reduce waste, and increase profitability. Electric ranges can be integrated with these digital tools, allowing restaurant managers to monitor and control their kitchen appliances remotely and optimize their cooking processes.
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The global demand for Commercial Electric Restaurant Ranges is projected to increase at a CAGR of 5.6% during the forecast period between 2023 and 2033, reaching a total of USD 76.8 Billion in 2033, according to a report from Future Market Insights (FMI). From 2017 to 2022, the demand witnessed significant growth, registering a CAGR of 3.3%.
According to Future Market Insights, a market research and competitive intelligence provider, the Commercial Electric Restaurant Ranges market was valued at USD 42.1 Billion in 2022.
Commercial kitchens are increasingly looking for customizable cooking solutions that can meet the demands of a diverse range of cuisines and menus. Electric ranges offer a range of cooking surfaces and controls, which can be customized to meet the specific needs of a particular recipe or cooking style.
Additionally, the foodservice industry is growing, with increasing demand for food delivery and takeout services. Electric ranges offer quick and efficient cooking, making them an ideal option for restaurants and other foodservice businesses that need to meet tight delivery schedules.
Furthermore, many governments around the world are implementing initiatives to promote energy efficiency and reduce greenhouse gas emissions. This includes incentives for businesses to switch to more energy-efficient appliances, such as electric ranges, which are seen as a more environmentally friendly option than gas ranges. For instance, the United States Environmental Protection Agency's (EPA) ENERGY STAR program provides guidelines and certifications for energy-efficient appliances, including commercial electric ranges. The program encourages the use of energy-efficient appliances by providing businesses with incentives to switch to more energy-efficient models.
Increasing Demand for Energy-Efficient Equipment to Fuel the Market Growth
Energy efficiency is a key concern for restaurants and commercial kitchens, as energy costs can make up a significant portion of their overall operating expenses. Commercial electric restaurant ranges are highly energy-efficient and can help businesses reduce their energy consumption, which can lead to significant cost savings over time. Electric ranges are more energy-efficient than their gas counterparts because they convert almost all of the energy they consume into heat. In contrast, gas ranges lose a significant amount of energy through the exhaust, resulting in higher energy costs. Additionally, electric ranges heat up faster than gas ranges, which can save time and energy during cooking.
Moreover, energy-efficient commercial electric restaurant ranges are designed with features such as induction technology, which generates heat only when a pot or pan is placed on the burner. This reduces energy waste and saves electricity, as heat is not being produced unnecessarily. As businesses become more environmentally conscious and energy prices continue to rise, the demand for energy-efficient commercial electric restaurant ranges is expected to increase. This trend is likely to drive the growth of the commercial electric restaurant ranges market.
Technological Advancements to Accelerate the Market Growth
The foodservice industry is constantly evolving, and technological advancements are a major driver of this change. Commercial electric restaurant ranges are not immune to this trend and are becoming increasingly advanced and sophisticated in their design. Manufacturers are introducing new features in commercial electric restaurant ranges that improve their efficiency and productivity, which can lead to increased demand for these appliances. For example, some commercial electric restaurant ranges now feature touchscreens that allow users to easily control temperature settings, cooking time, and other important parameters. These touchscreens can also display recipe suggestions and cooking tips, making them a valuable tool for chefs and cooks.
Programmable settings are another technological advancement that can increase the efficiency of commercial electric restaurant ranges. These settings allow users to program specific cooking times and temperatures for different dishes, reducing the need for manual adjustments and potentially saving time during busy periods. In addition, advanced temperature control systems are becoming more common in commercial electric restaurant ranges. These systems can maintain precise temperatures throughout the cooking process, ensuring that food is cooked evenly and reducing the risk of overcooking or undercooking.
Principal Consultant
High Initial Cost of Commercial Electric Restaurant Ranges to Restrain the Market
Commercial electric restaurant ranges are generally more expensive than their gas counterparts. The higher cost is due to several factors, including the cost of the technology used to manufacture electric ranges and the higher electricity consumption. The higher initial cost can be a barrier for some businesses, particularly smaller ones with limited budgets, as they may not have the financial resources to make the investment.
In addition to the cost of the range itself, businesses may also need to invest in costly electrical upgrades to ensure that their electrical systems can support the higher electrical load required to operate electric ranges. This additional cost can further limit the appeal of electric ranges for some businesses, particularly those with limited budgets. Moreover, despite the long-term cost savings from energy efficiency, businesses may prioritize cost savings in the short-term, which could limit their willingness to invest in electric ranges.
Limited Versatility to Limit the Market Growth
Another factor that could limit the appeal of electric restaurant ranges is their limited versatility compared to gas ranges. Gas ranges are often preferred by chefs and cooks because they provide more precise temperature control and can quickly heat up and cool down, which is important for certain cooking techniques. Also, in comparison, electric ranges often have slower response times and may not provide the same level of temperature control as gas ranges. This can be a disadvantage for businesses that require a high level of precision and flexibility in their cooking equipment.
Moreover, electric ranges may not be suitable for certain cooking techniques, such as open flame cooking or wok cooking, which rely on the intense heat generated by gas flames. This can limit the appeal of electric ranges for businesses that specialize in these types of cuisine.
Integration of Advanced Technologies in North America to Fuel the Market Growth
The Commercial Electric Restaurant Ranges Market in the United States is expected to accumulate the highest market share of 33.4% in 2023.
With the growing concern for environmental sustainability and rising energy costs in the region, there is a shift towards using energy-efficient and eco-friendly kitchen equipment, including electric restaurant ranges. Moreover, the trend of using electric restaurant ranges is increasing due to their convenience, easy-to-use features, and lower maintenance requirements, making them an attractive option for commercial kitchens. Additionally, with the growth of the foodservice industry, there is an increasing demand for commercial kitchens, which is expected to drive the demand for commercial electric restaurant ranges in the region.
Furthermore, the integration of advanced technologies, such as sensors, automation, and digital displays, into electric restaurant ranges is expected to enhance their performance, efficiency, and accuracy, thereby driving the growth of the regional market. In addition, government initiatives and regulations promoting energy efficiency and eco-friendliness are expected to drive the demand for electric restaurant ranges in North America.
Rising Government Initiatives in the Region to Fuel the Market Growth
The Commercial Electric Restaurant Ranges Market in India is expected to accumulate the highest market share of 6.3% in 2023.
With the rising concerns over energy costs and environmental sustainability in the region, there is a growing demand for energy-efficient kitchen equipment, including electric restaurant ranges. The adoption of energy-efficient equipment in commercial kitchens can help reduce energy costs and minimize carbon footprint. Also, the foodservice industry in Asia Pacific is growing rapidly, driven by factors such as urbanization, changing consumer preferences, and increasing disposable incomes. This is expected to drive the demand for commercial kitchen equipment in the region, including electric restaurant ranges.
Additionally, the convenience, ease of use, and lower maintenance requirements of electric restaurant ranges are making them an attractive option for commercial kitchens in Asia Pacific. Additionally, the cost of electricity is often lower than that of gas in many parts of Asia Pacific, further driving the adoption of electric ranges. Moreover, several governments in Asia Pacific are promoting the adoption of energy-efficient equipment in commercial kitchens through various initiatives and regulations. For instance, in India, the Bureau of Energy Efficiency (BEE) has launched a program to promote energy-efficient equipment in the hospitality sector, including electric restaurant ranges.
Commercial Electric Ranges with Standard Oven Segment to beat Competition in Untiring Market
On the basis of type, the global Commercial Electric Restaurant Ranges market is dominated by Commercial Electric Ranges with Standard Oven segment, which is expected to hold a CAGR of 5.4% over the analysis period.
The segment is growing as the standard ovens are a crucial component of commercial electric restaurant ranges and are used for a wide range of cooking tasks such as baking, roasting, and broiling. Moreover, factors such as the increasing number of foodservice establishments, rising consumer demand for a variety of cuisines, and growing adoption of energy-efficient kitchen equipment are also anticipated to boost the segmental growth during the forecast period.
In addition, the segment of commercial electric ranges with standard ovens typically offers a wider range of cooking options and features than those without ovens, making them more versatile and attractive to foodservice operators. These factors are likely to contribute to the growth of the commercial electric restaurant ranges market in the coming years.
Full-Service Restaurants Segment to Drive the Commercial Electric Restaurant Ranges Market
Based on the Application, the full-service restaurants segment is expected to expand at rapid rate of 5.3% CAGR over the analysis period. The segment is growing as full-service restaurants typically require a wider range of cooking equipment than quick service restaurants and other food service establishments. Commercial electric restaurant ranges are a crucial component of the cooking equipment used in full-service restaurants and are used for a variety of cooking tasks such as grilling, sautéing, and baking. The increasing number of full-service restaurants, particularly in emerging economies, is expected to drive the demand for commercial electric restaurant ranges in this segment.
Moreover, the rising trend of "fast casual" dining, which combines the speed and convenience of quick service restaurants with the quality and experience of full-service restaurants, is expected to further boost the demand for commercial electric restaurant ranges in the full-service restaurants segment. These factors are likely to contribute to the growth of the commercial electric restaurant ranges market in the forthcoming years.
Prominent players in the Commercial Electric Restaurant Ranges market are Middleby Corporation, Illinois Tool Works Inc., Henny Penny, 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, and Montague Company, among others.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.6% from 2023 to 2033 |
| Market Value in 2023 | USD 44.5 Billion |
| Market Value in 2033 | USD 76.8 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 Rating, Application |
| Regions Covered | North America; Europe; Europe; Latin America; Middle East & Africa |
| Key Countries Profiled | Germany, United kingdom, France, Spain, Italy, Rest of Europe, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, Rest of Asia Pacific |
| Key Companies Profiled | 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 |
The market is valued at USD 44.5 billion in 2023.
The market is projected to register a CAGR of 5.6% through 2033.
North America monopolizes the global market.
Alto-Shaam, Inc., Vulcan, and Garland Group are the top players.
Key players are fortifying their product portfolio.
1. Executive Summary 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. Commercial Electric Ranges With Standard Oven 5.2. Commercial Electric Ranges Without Oven 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Power Rating 6.1. 208V 6.2. 240V 6.3. 480V 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Quick Service Restaurants 7.2. Full-Service Restaurants 7.3. Hotels 7.4. Other Food Services 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Garland Commercial Industries 16.2. VULCAN 16.3. Wolf Range Company 16.4. Imperial Range 16.5. Southbend 16.6. CookTek, LLC 16.7. Lang Manufacturing 16.8. Hatco Corporation 16.9. Turbo Air 16.10. Moffat 17. Assumptions & Acronyms Used 18. Research Methodology
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Commercial Electric Restaurant Ranges Market
