LONDON–(BUSINESS WIRE)–Technavio has been monitoring the commercial kitchen ventilation systems market and it is poised to grow by USD 667.91 mn during 2020-2024, progressing at a CAGR of over 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions:
What are the major trends in the market?
Increase in cost savings through energy efficient products is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 5.03% and the incremental growth of the market is anticipated to be $ 667.91 mn.
Who are the top players in the market?
Captive-Aire Systems Inc., Daikin Industries Ltd., Dover Corp., Greenheck Fan Corp., Halton Group, Illinois Tool Works Inc., Melink Corp., Spring Air Systems, Systemair AB, and The Middleby Corp., are some of the major market participants.
What is the key market driver?
The adoption of demand-controlled kitchen ventilation is one of the major factors driving the market.
How big is the APAC market?
The APAC region will contribute 38% of the market share.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Captive-Aire Systems Inc., Daikin Industries Ltd., Dover Corp., Greenheck Fan Corp., Halton Group, Illinois Tool Works Inc., Melink Corp., Spring Air Systems, Systemair AB, and The Middleby Corp. are some of the major market participants. The adoption of demand-controlled kitchen ventilation will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Commercial Kitchen Ventilation Systems Market 2020-2024: Segmentation
Commercial Kitchen Ventilation Systems Market is segmented as below:
- Wall-mounted Canopy Hoods
- Proximity Hoods
- Island Canopy Hoods
- North America
- South America
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Commercial Kitchen Ventilation Systems Market 2020-2024: