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The commercial electric fryer market share is expected to increase by USD 324.53 million from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 5.61%. This commercial electric fryer market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The commercial electric fryer market report also offers information on several market vendors, including AB Electrolux, Bayou Classic Fryers, Conair Corp., Gourmia Inc., Hakka Brothers Machinery Co. Ltd., Henny Penny Corp., Illinois Tool Works Inc., The Middleby Corp., Welbilt Inc., and Yescom USA, Inc. among others. Furthermore, this report extensively covers commercial electric fryer market segmentation by type (floor standing and countertop), product placement (commercial floor-standing electric fryer and commercial countertop electric fryer), and geography (APAC, North America, Europe, and South America).
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The increasing adoption of commercial electric fryers with energy star certification is notably driving the commercial electric fryer market growth, although factors such as the growing market for pre-used commercial electric fryers may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the commercial electric fryer industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Commercial Electric Fryer Market Driver
The increasing adoption of commercial electric fryers with energy star certification is notably driving the commercial electric fryer market growth. Foodservice establishments are mainly focused on using commercial electric fryers that help in improving production efficiency with minimal operating costs. This enables manufacturers of commercial electric fryers to offer equipment with energy-saving features to increase the profitability of food service establishments. Manufacturers are focusing on achieving ENERGY STAR certification through advanced burner and heat exchanger designs. Most of the end-users, such as fast food establishments and FSRs, use large volume commercial electric fryers. The use of ENERGY STAR-certified commercial electric fryers provides significant cost advantages to end-users. For instance, standard-sized commercial electric fryers with ENERGY STAR certification are around 14% more energy-efficient than commercial electric fryers without ENERGY STAR certification. Hence, these cost-saving advantages is expected to influence the growth of the market during the forecast period.
Key Commercial Electric Fryer Market Trend
Increasing adoption of commercial electric fryers with safety certifications is the key trend driving the commercial electric fryer market growth. Commercial electric fryer manufacturers are focused on offering equipment that meet all the industry standards. Safety certifications help manufacturers to expand their market presence in various countries where it is highly mandatory to comply with industry standards. Foodservice establishments ensure that food items prepared using the equipment do not cause any harmful effects on consumers. Additionally, the rising popularity of air fryers, known for their healthier cooking options and efficiency, is also anticipated to contribute to market growth.. Hence, the increasing adoption of commercial electric fryers with safety standard certifications is expected to influence the growth of the market during the forecast period
Key Commercial Electric Fryer Market Challenge
The major challenge impeding the commercial electric fryer market growth is the growing market for pre-used commercial electric fryers. Many independent foodservice establishments that plan to invest in commercial electric fryers prefer to purchase pre-used commercial electric fryers that offer good performance as well as enable restaurant owners to save on high equipment purchase costs. Many small and medium foodservice establishments, especially in developing countries, mainly prefer pre-used commercial electric fryers to minimize initial investments when they plan to start or expand fried food offerings. For instance, a pre-used electric floor standing fryer model 2ER50AF offered by Illinois Tool Works under the brand Vulcan can be availed at a price of around USD10,500. However, the market price for a new unit of the same model is around USD18,000. However, the market price for a new unit of the same model is around USD4,300. Such significant price differences are encouraging many end-users to opt for pre-used equipment rather than investing in high-priced new units. The growing market for pre-used commercial electric fryers is expected to affect the potential growth prospects of the global commercial electric fryer market during the forecast period.
This commercial electric fryer market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Technavio categorizes the global commercial electric fryer market as a part of the global household appliances market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the commercial electric fryer market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the commercial electric fryer market encompasses successful business strategies deployed by the key vendors. The commercial electric fryer market is concentrated and the vendors are deploying growth strategies such as M&A and collaborations to expand their business lines and shield themselves from the threat of rivalry to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The commercial electric fryer market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the commercial electric fryer market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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