
Report ID: UCMIG25H2030
Report ID:
UCMIG25H2030 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The market for commercial kitchen appliances was valued at USD 79.72 billion in 2019, and it is projected to grow at a CAGR of 6.7% from 2020 to 2027. This growth is driven by various factors such as the expansion of the travel and tourist sector and the increasing popularity of Quick Service Restaurants (QSRs) among millennials. The market is expected to witness significant growth in the coming years due to rising demand for fast food, the fast-paced lifestyle in urban areas, an increase in the number of working women and nuclear families, and an overall rise in personal discretionary income.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Household Appliances by segment aggregation, the contribution of the Household Appliances in Consumer Durables & Apparel and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG25H2030