Commercial Electric Fryer Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2020-2024

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).

What will the Commercial Electric Fryer Market Size be During the Forecast Period?

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Commercial Electric Fryer Market: Key Drivers, Trends, and Challenges

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. 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 $10,500. However, the market price for a new unit of the same model is around $18,000. However, the market price for a new unit of the same model is around $4,300. 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.

Parent Market Analysis

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.

Who are the Major Commercial Electric Fryer Market Vendors?

The report analyzes the market's competitive landscape and 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.
• Yescom USA, Inc.

 

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.

Product Insights and News

• AB Electrolux - The company offers counter top fryers with a capacity that ranges between 5 litres to 12 litres. This range comes with an overheat protection thermostat as standard on all units

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.

Commercial Electric Fryer Market Value Chain Analysis

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.

Which are the Key Regions for Commercial Electric Fryer Market?

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39% of the market's growth will originate from APAC during the forecast period. China is the key market for the commercial electric fryer market in APAC. Market growth in this region will be slower than the growth of the market in other regions.

The growth opportunities and expansions will provide opportunities for the sales of new units and will facilitate the commercial electric fryer market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, China and India were the most affected countries in the region, owing to the COVID-19 pandemic. The second and third waves of the outbreak were witnessed in the second half of 2020 and early 2021. The total number of cases in India reached 23.3 million as of May 11, 2021. The governments in the region imposed nationwide lockdowns in 2020, which resulted in the closure of manufacturing facilities of commercial electric fryers. It also led to a temporary closure of various foodservice establishments. This resulted in a decline in the sales of commercial electric fryers in this region in 2020. However, the lifting of lockdowns will positively impact the growth of the commercial electric fryer market in APAC during the forecast period

What are the Revenue-generating Type Segments in the Commercial Electric Fryer Market?

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The commercial electric fryer market share growth by the floor standing segment will be significant during the forecast period. The increasing availability of commercial electric floor standing fryers with improved features is anticipated to have an impact on market growth. Commercial floor standing electric fryers with built-in filtration systems help foodservice establishments in ensuring better food quality and oil life. They also help in the easy removal of large sediments. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the commercial electric fryer market size and actionable market insights on post COVID-19 impact on each segment.

 

Commercial Electric Fryer Market Scope
Report Coverage	Details
Page number	120
Base year	2019
Forecast period	2020-2024
Growth momentum & CAGR	Accelerate at a CAGR of 5.61%
Market growth 2020-2024	$ 324.53 million
Market structure	Concentrated
YoY growth (%)	5.22
Regional analysis	APAC, North America, Europe, South America, APAC, North America, Europe, and South America
Performing market contribution	APAC at 39%
Key consumer countries	US, Canada, China, and Australia
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	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.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Commercial Electric Fryer Market Report?

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive commercial electric fryer market growth during the next five years
• Precise estimation of the commercial electric fryer market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the commercial electric fryer industry across APAC, North America, Europe, South America, APAC, North America, Europe, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of commercial electric fryer market vendors

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