Food Service Equipment Market
The Global Food Service Equipment Market size is estimated to be USD 34.98 billion in 2019 and is predicted to reach USD 67.09 billion by 2030 with a CAGR of 6.1% from 2020-2030.
Food Service Equipment is used in the commercial kitchens for the food storage and preparation in large quantities which not only save time and money but also increases the operational cost. This includes different types of equipments such as oven, refrigerators and many more. These equipments also helps in the food processing and handling much easier that too in bulk quantities are in the commercial kitchens and it also includes the after sales service which further adds revenue to the market.
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Top Companies: Cambro Manufacturing Co. Inc., Alto-Shaam, Inc., Duke Manufacturing Co. Inc., Castle Stove, Electrolux, Dover Corporation, Ali S.p.A, Illinois Tool Works Inc., Welbilt, Inc and others.
The global food service equipment market share is analyzed on the basis of product, end use, and geography. On the basis of product, the market is segmented into Cooking Equipment, Storage & Handling Equipment, Warewashing Equipment, Food & Beverage Preparation Equipment, and Serving Equipment. On the basis of end use, the market is divided into Full-service Restaurants & Hotels, Quick-service Restaurants & Pubs, and Caterings. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
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North America is expected to hold the major market share over the forecast period owing to the increased adoption of food service equipment. Furthermore, increase in technological advancements and presence of developed infrastructure coupled with increase in quick service restraunts is further expected to support the growth of food service equipment market in the near future. Asia Pacific is expected to develop rapidly with gradual increase in market share owing to the changing lifestyle and food habits with constant increase in restraunts and hospitality industry. Furthermore, increase in food industry and tourism industry is further expected to accelerate the growth of food service equipment market.
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