Food Service Equipment Market Worth USD 56.0 Billion By 2024
The global food service equipment market is expected to reach USD 56.0 billion by 2024, according to a new report by Grand View Research, Inc. Increasing use of cost-effective and energy-efficient products to reduce the energy consumption is expected to offer lucrative opportunities to the market over the forecast period. Food service equipment plays a key role in the hospitality sector. Increasing demand from restaurants, hotels and food chains is contributing to the industry growth. Moreover, regulations and standards set by the food regulatory authorities are enabling manufacturers to develop equipment compliant with these standards. Increasing sanitation, hygiene and less time-consuming requirements are attributing to the adoption of these equipment among households. Also, the upgraded products not only reduce the energy expenses but also are eco-friendly. Changing consumer lifestyle and rising disposable income are the major factors driving market growth. The increase in labor cost in developing countries is attracting the demand for washware equipment among households. Changing food habits of the working class population has led to increase in demand for ready to eat and processes food. This has resulted in the expansion of hypermarkets and retail outlets leading to rise in demand for refrigeration and storage equipment.
Moreover, continuous advancements in cooling technologies and increased restriction on the use of CFCs has accentuated the demand for frequent upgradation in products. Increasing awareness to save water and electricity has also contributed to growing demand for low-energy consuming products. View summary of this report @ analysis/food-service-equipment-market
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Global food service equipment market by product, 2013 - 2024 (USD Billion)
Table of Contents Chapter 1. Methodology and Scope 1.1. Research Methodology 1.2. Research Scope & Assumption 1.3. List of Data Sources Chapter 2. Executive Summary 2.1. Food service equipment - Industry snapshot and key buying criteria, 2013 - 2024 Chapter 3. Food Service Equipment Industry Outlook 3.1. Market segmentation 3.2. Market size and growth prospects 3.3. Food service equipment - Value chain analysis 3.3.1. Vendor landscape 3.4. Food service equipment market dynamics
3.4.1. Market driver analysis 3.4.1.1. Increasing demand for energy-efficient and cost-effective products 3.4.1.2. Growth in hotel industry 3.4.2. Market restraint analysis 3.4.2.1. Complex technology and complexities associated with usage of equipment 3.4.2.2. Need for high capital investment 3.5. Key opportunities prioritized 3.6. Industry analysis - Porter's 3.7. Food service equipment - Key competitor analysis, 2015 3.8. Food service equipment market PESTEL analysis, 2015 Chapter 4. Food Service Equipment Product Outlook 4.1. Kitchen purposes 4.1.1. Global market estimates and forecasts, 2013 - 2024 4.2. Refrigeration 4.2.1. Global market estimates and forecasts, 2013 - 2024 4.3. Storage 4.3.1. Global market estimates and forecasts, 2013 - 2024 4.4. Ware washing 4.4.1. Global market estimates and forecasts, 2013 - 2024 4.5. Food holding and serving 4.5.1. Global market estimates and forecasts, 2013 - 2024 4.6. Others 4.6.1. Global market estimates and forecasts, 2013 - 2024 Chapter 5. Food Service Equipment Washware Equipment Outlook 5.1. Booster heaters 5.1.1. Global market estimates and forecasts, 2013 - 2024 5.2. Dish washers 5.2.1. Global market estimates and forecasts, 2013 - 2024 5.3. Disposers 5.3.1. Global market estimates and forecasts, 2013 - 2024 5.4. Utensil washer 5.4.1. Global market estimates and forecasts, 2013 - 2024 5.5. Others 5.5.1. Global market estimates and forecasts, 2013 - 2024 Chapter 6. Food service equipment Regional Outlook 6.1. North America 6.1.1. Food service equipment market by equipment, 2013 - 2024 6.2. Europe
6.2.1. Food service equipment market by equipment, 2013 - 2024 6.3. Asia Pacific 6.3.1. Food service equipment market by equipment, 2013 - 2024 6.4. RoW 6.4.1. Food service equipment market by equipment, 2013 - 2024 Chapter 7. Competitive Landscape 7.1. Ali Group 7.1.1. Company Overview 7.1.2. Financial Performance 7.1.3. Product Benchmarking 7.1.4. Strategic Initiatives 7.2. AB Electrolux 7.2.1. Company Overview 7.2.2. Financial Performance 7.2.3. Product Benchmarking 7.2.4. Strategic Initiatives 7.3. Dover Corporation 7.3.1. Company Overview 7.3.2. Financial Performance 7.3.3. Product Benchmarking 7.3.4. Strategic Initiatives 7.4. Duke Manufacturing Co. Inc 7.4.1. Company Overview 7.4.2. Financial Performance 7.4.3. Product Benchmarking 7.4.4. Strategic Initiatives 7.5. Fujimak Corporation 7.5.1. Company Overview 7.5.2. Financial Performance 7.5.3. Product Benchmarking 7.5.4. Strategic Initiatives 7.6. Haier Group Corporation 7.6.1. Company Overview 7.6.2. Financial Performance 7.6.3. Product Benchmarking 7.6.4. Strategic Initiatives 7.7. Hoshizaki Electric Co. Ltd 7.7.1. Company Overview 7.7.2. Financial Performance
7.7.3. Product Benchmarking 7.7.4. Strategic Initiatives 7.8. ITW 7.8.1. Company Overview 7.8.2. Financial Performance 7.8.3. Product Benchmarking 7.8.4. Strategic Initiatives 7.9. Manitowoc Company Inc 7.9.1. Company Overview 7.9.2. Financial Performance 7.9.3. Product Benchmarking 7.9.4. Strategic Initiatives 7.10. Middleby Corporation 7.10.1. Company Overview 7.10.2. Financial Performance 7.10.3. Product Benchmarking 7.10.4. Strategic Initiatives 7.11. SMEG 7.11.1. Company Overview 7.11.2. Financial Performance 7.11.3. Product Benchmarking 7.11.4. Strategic Initiatives 7.12. Vollrath Co 7.12.1. Company Overview 7.12.2. Financial Performance 7.12.3. Product Benchmarking 7.12.4. Strategic Initiatives
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List of Tables 1. Food service equipment - Industry snapshot & key buying criteria, 2013 - 2024 2. Global food service equipment market, 2013 - 2024 (USD Billion) 3. Global food service equipment market by region, 2013 - 2024 (USD Billion) 4. Global food service equipment market by product, 2013 - 2024 (USD Billion) 5. Global food service equipment market by washware equipment, 2013 - 2024 (USD Billion)
6. Global kitchen purposes market, 2013 - 2024 (USD Billion) 7. Global kitchen purposes market by region, 2013 - 2024 (USD Billion) 8. Global refrigeration market, 2013 - 2024 (USD Billion) 9. Global refrigeration market by region, 2013 - 2024 (USD Billion) 10. Global storage market, 2013 - 2024 (USD Billion) 11. Global storage market by region, 2013 - 2024 (USD Billion) 12. Global ware washers market, 2013 - 2024 (USD Billion) 13. Global ware washers market by region, 2013 - 2024 (USD Billion) 14. Global food holding and serving market, 2013 - 2024 (USD Billion) 15. Global food holding and serving market by region, 2013 - 2024 (USD Billion) 16. Global others market, 2013 - 2024 (USD Billion) 17. Global others market by region, 2013 - 2024 (USD Billion) 18. Global booster heaters market, 2013 - 2024 (USD Billion) 19. Global booster heaters market by region, 2013 - 2024 (USD Billion) 20. Global dish washers market, 2013 - 2024 (USD Billion) 21. Global dish washers market by region, 2013 - 2024 (USD Billion) 22. Global disposers market, 2013 - 2024 (USD Billion) 23. Global disposers market by region, 2013 - 2024 (USD Billion) 24. Global utensil washer market, 2013 - 2024 (USD Billion) 25. Global utensil washer market by region, 2013 - 2024 (USD Billion) 26. Global others market, 2013 - 2024 (USD Billion) 27. Global others market by region, 2013 - 2024 (USD Billion) 28. North America market by product, 2013 - 2024 (USD Billion) 29. North America market by washware equipment, 2013 - 2024 (USD Billion) 30. Europe market by product, 2013 - 2024 (USD Billion) 31. Europe market by washware equipment, 2013 - 2024 (USD Billion) 32. Asia Pacific market by product, 2013 - 2024 (USD Billion) 33. Asia Pacific market by washware equipment, 2013 - 2024 (USD Billion) 34. RoW market by product, 2013 - 2024 (USD Billion) 35. RoW market by washware equipment, 2013 - 2024 (USD Billion)
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List of Figures 1. Food service equipment market segmentation 2. Global food service equipment market 2013 - 2024 (USD Billion) 3. Food service equipment - Value chain analysis 4. Food service equipment - Market dynamics 5. Hotel industry growth in the U.S.
6. Key opportunities - Prioritized 7. Food service equipment - Porter’s analysis 8. Food service equipment company market share 9. Food service equipment - PESTEL analysis 10. Food service equipment market share by product, 2015 & 2024 11. Food service equipment market share by washware equipment, 2015 & 2024 12. Food service equipment market share by region, 2015 & 2024
Further key findings from the report suggest:
Kitchen service equipment is estimated to reach over 28% by 2024 and growing at a CAGR of over 4.0% from 2016 to 2024. Rising trend of nuclear families is expected to boost the demand for these products. Moreover, the shift from conventional to smart appliances is anticipated to contribute to the segment growth. Refrigeration segment is expected to grow at a CAGR of over 4.2% from 2016 to 2024. This growth can be attributed to continuous improvements in energy consumption standards for these devices and rising need for processed food in developing countries. The North America food service equipment industry is expected to remain the largest market owing to the widespread adoption of technologically advanced devices. The regional industry is projected to account for over 38% by 2024, growing at a CAGR of over 3.5% from 2016 to 2024. Food service equipment vendors are evolving new business models to meet customer demands by offering cost-effective, energy-efficient and technologically advanced products. Key players in the food service equipment market include Ali Group, ITW, Dover Corporation, Middleby Corporation and Manitowoc Company Inc. Competition for food service equipment providers is particularly intense and increasingly focused on pricing.
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Grand View Research has segmented the food service equipment market on the basis of equipment, and region: Food Service Equipment Product Outlook (Revenue, USD Billion, 2013 - 2024)
Kitchen purposes Refrigeration Storage
Ware washing Food holding and serving Others
Food Service Equipment Washware Equipment Outlook (Revenue, USD Billion, 2013 2024)
Booster Heaters Dish Washers Disposers Utensil Washer Others
Food Service Equipment Regional Outlook (Revenue, USD Billion, 2013 - 2024)
North America Europe Asia Pacific RoW
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