Food Service Equipment Market Growth by Top Industry Players: Dover Corporation, Middleby Corporation, Duke Manufacturing Co. Inc., Illinois Tool Works (ITW) Inc., Fujimak Corporation and other

The North America Food Service Equipment market generated the highest revenue in the market in 2017, and is expected to lead the global market during the forecast period. The high living standards along with high disposable income in the region drive the market growth. Other factors supporting market growth in North America include growth in tourism industry, increasing awareness regarding energy efficient equipment, and growing adoption of smart technologies. The Asia-Pacific Food Service Equipment market is expected to grow at a significant rate during the forecast period owing to the increasing population and improving living standards.

The Global Food Service Equipment Market is anticipated to reach USD 62 billion by 2026 according to a new research report.

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The significant increase in food establishments, and the growing hospitality industry are the major factors driving the growth of the Food Service Equipment market. The changing lifestyles and increasing disposable incomes are leading to higher instances of dining at restaurants and living at hotels and resorts. The growing demand for affordable and energy efficient equipment supports the growth of the market.

Hotels and restaurants are increasingly adopting technologically advanced food service equipment for performing kitchen activities efficiently and offering enhanced services to consumers. Restaurant businesses prefer compact and space efficient equipment, which encourages market players to launch new products in the global market. Increasing spending on the hospitality sector, and tourism activities encourage restaurant owners to improve their infrastructure and offer enhanced services. Moreover, the Food Service Equipment market is also driven by increasing need to use food service equipment that consume less energy and provide faster kitchen services. Growing concerns regarding environment and increasing adoption of energy efficient food service equipment are expected to offer numerous growth opportunities in the future. However, high costs associated with food service equipment, and high installation prices restrict the growth of the Food Service Equipment market.

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The different end-users of food service equipment include hotels and clubs, full service restaurants, quick service restaurants, and others. In 2017, hotels and clubs accounted for the highest market share owing to increasing need to offer enhanced services to consumers. Hotels and clubs are increasingly adopting technologically advanced food service equipment to meet high storage demands and to offer fresh & high quality food. Food establishments are also inclined towards using energy efficient service equipment owing to growing environmental concerns.

By Segment:

Food Service Equipment by Type:

• Cooking Equipment
• Serving Equipment
• Refrigeration Equipment
• Storage Equipment
• Warewashing Equipment
• Food & Beverage Preparation Equipment
• Others

Food Service Equipment by End-Users:

• Full Service Restaurants
• Quick Service Restaurants
• Hotels and Clubs
• Others

Food Service Equipment by region:

• North America - (US., Canada, Mexico)
• Europe - (Germany, UK, France, Italy, Rest of Europe)
• Asia-Pacific - (China, India, Japan, Rest of Asia-Pacific)
• Latin America - (Brazil, Middle East & Africa)

Top Industry Player:

• Dover Corporation
• Haier Electronics Group Co., Ltd.
• Illinois Tool Works (ITW) Inc.
• Fujimak Corporation
• Duke Manufacturing Co. Inc.
• Ali Group
• Hoshizaki Corporation
• Middleby Corporation
• Manitowoc Company Inc
• AB Electrolux

These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

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