PRN: Europe 900 Series Cooking Equipment Market to Reach $59.15 Mn, by 2025, at 1.7% CAG Allied Market Research

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Europe 900 Series Cooking Equipment Market to Reach $59.15 Mn, by 2025, at 1.7% CAGR: Allied Market Research

Changes in lifestyle & eating habits, rapid growth of the hospitality industry, and increase in adoption among quick-service restaurants propel the growth of the Europe 900 series cooking equipment market

 
[09-July-2019]
 

PORTLAND, Oregon, July 9, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Europe 900 Series Cooking Equipment Market by Product Type (Ambient Worktops, Base Unit Ovens, Boiling Kettles, Bratt Pans, Fryers, Griddles, Hobs, Pasta Cookers, and Others) and End User (Full-Service Restaurants, Institutional Canteen, Hotel & Resorts, Quick Service Restaurants, and Others): Regional Opportunity Analysis and Industry Forecast, 2018-2025." The report provides a detailed analysis of drivers & opportunities, changing market trends, competitive market landscape, and market size & estimates. As per the report, the Europe 900 series cooking equipment market was estimated at $52 .42 million in 2018 and is expected to hit $59.15 million by 2025, registering a CAGR of 1.7% during the study period.

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Changes in lifestyle & eating habits, rapid growth of the hospitality industry, and rise in adoption among quick-service restaurants fuel the growth of the Europe 900 series cooking equipment market. On the other hand, volatile raw material prices and high capital requirement restrain the growth to certain extent. However, several regulatory benefits and surge in demand for energy-efficient & certified products are expected to create multiple opportunities for the key players in the industry.

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The others segment to rule the roost during 2018â€�“2025-

Based on product type, the others segment accounted for nearly one-fourth of the total market revenue in 2018 and is expected to dominate throughout the forecast period. The segment includes gas & electric full/ half modules, chip scuttle, bain-marie, steamers, grills, char broilers, boiling pans, and other cooking equipment. The fact that they are extensively used in restaurants, hotels, and fast-food centers has driven the growth of the segment. The pasta cookers segment, on the other hand, is projected to register the fastest CAGR of 3.5% throughout the forecast period.

The full-service restaurants segment generated the largest share in 2018-

Based on end user, the full-service restaurants segment held the largest share in 2018, generating nearly two-fifths of the total market. Inclination of consumers toward new cuisines at a reasonable cost supplements the adoption of new technologies for preparing quick-served foods among full-service restaurants has fueled the growth of the segment.

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UK to remain lucrative till 2025-

Based on geography, the U.K. region contributed to nearly one-fourth of the total market share in 2018 and is anticipated to retain its top status during the study period. The same segment is also predicted to grow at the fastest CAGR of 2.3% through 2018â€�“2025. This is attributed to UK being a mature market with large numbers of full-service restaurants as well as branded luxury hotels.

Frontrunners in the industry-

The key market players analyzed in the report include Rosinox, Capic, Ali Group, ATA Srl, Fagor Industrial, The Middleby Corporation. Charvet, MKN, Modular Professional Srl, Illinois Tool Works Inc., and AB Electrolux. Adhering to a number of high-end strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others, these market players have become able to heighten their stand in the industry.

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