Food Service Equipment Market Size Worth $62 Billion By 2026 | Industry Participant: Dover Corporation, Haier Electronics Group Co., Ltd., Duke Manufacturing Co. Inc., Illinois Tool Works (ITW) Inc., Fujimak Corporation and others.

The Report “Food Service Equipment Market By Type (Cooking Equipment, Serving Equipment, Refrigeration Equipment, Storage Equipment, Warewashing Equipment, Food & Beverage Preparation Equipment); By End-User (Hotels and Clubs, Full Service Restaurants, Quick Service Restaurants); By Region Segments & Forecast, 2018 - 2026” The Global Food Service Equipment Market is anticipated to reach USD 62 billion by 2026 according to a new research published by Polaris Market Research. In 2017, the cooking and food & beverage preparation equipment segments dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.

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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 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 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.

The leading companies profiled in the Food Service Equipment market report include Dover Corporation, Haier Electronics Group Co., Ltd., Duke Manufacturing Co. Inc., Illinois Tool Works (ITW) Inc., Fujimak Corporation, Duke Manufacturing Co. Inc., Ali Group, Hoshizaki Corporation, Middleby Corporation, Manitowoc Company Inc, and AB Electrolux among others. 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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Key Segments:

Food Service Equipment Market Size and Forecast, 2017-2026 by Type

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

Food Service Equipment Market Size and Forecast, 2017-2026 by End-Users

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

Food Service Equipment Market Size and Forecast, 2017-2026 by Region

• North America [U.S., Canada]
• Europe [Germany, UK, France, Italy, Spain, Belgium, Netherlands, Rest of Europe]
• Asia-Pacific [China, India, Japan, South Korea, Singapore, Malaysia, Rest of Asia-Pacific]
• Latin America [ Brazil, Mexico, Argentina, Rest of Latin America]
• Middle East and Africa [Israel, South Africa, Saudi Arabia, UAE, Rest of MEA]

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

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