LONDON–(BUSINESS WIRE)–#CapitalGoods–The global commercial kitchen ventilation systems market is expected to post a CAGR close to 6% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing adoption of demand-controlled kitchen ventilation. Factors such as the growing need to reduce energy costs and increasing regulatory pressures to reduce carbon emissions have led to an increase in demand for DCKV systems. Demand controlled kitchen ventilation (DCKV) systems can reduce exhaust costs by up to 50% and are available for new equipment as well as retrofits for existing kitchen range hoods. Moreover, vendors of DCKV systems are coming up with new technology or new modifications to make commercial kitchen ventilation systems more efficient. For instance, CaptiveAire, through its extensive research came up with heat sensors in their DCKV systems. Furthermore, with increasing number of foodservice establishments becoming aware of the need for energy efficiency, the adoption of DCKV is expected to rise, thereby driving the growth of the market, during the forecast period.
As per Technavio, the changing complex operations of commercial kitchens will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global commercial kitchen ventilation systems market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Commercial Kitchen Ventilation Systems Market: Changing Complex Operations of Commercial Kitchens
The design and layout of a commercial kitchen has a significant influence on the functionality, construction, and operation costs. For instance, kitchens can be made more energy efficient by using inductions, which also reduces cooking time. In addition, increasing health consciousness among consumers, has led to higher preference for baked or air fried foods, thereby reducing the use of fryers. Such changes in consumer requirements are expected to impact the demand for appropriate commercial kitchen ventilation systems as each equipment requires a specific set of ventilation systems. This trend is expected to open new avenues for existing vendors in the market. Another new trend in restaurants around the world is the concept of open kitchens, which will further drive the demand for commercial kitchen ventilation systems. Therefore, due to such changes, the demand for commercial kitchen ventilation systems is expected to grow significantly during the forecast period.
“Apart from the changing complex operations of commercial kitchens, increasing investments in R&D for new technology development, and the increasing demand for energy-efficient products, will boost market growth during the forecast period,” says a senior analyst at Technavio.
Global Commercial Kitchen Ventilation Systems Market: Segmentation Analysis
This market research report segments the global commercial kitchen ventilation systems market by product (wall-mounted canopy hoods, proximity hoods, and island canopy hoods) and geographical regions (APAC, Europe, North America, South America, and MEA).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth due to the boom in the food service sector in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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