Restaurant Equipment Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth

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How Large Will the Restaurant Equipment Market Size By 2025?
There has been a robust growth in the size of the restaurant equipment market in the recent past. Its size is projected to increase from $3.88 billion in 2024 to $4.2 billion in 2025, indicating a compound annual growth rate (CAGR) of 8.3%. This past expansion can be linked to factors such as the increased need for specialized equipment, a shift toward healthier eating habits, a variety of cuisines, the necessity for faster service, investments made in restaurants, as well as upgrades made to the existing equipment.

How Big Is the Restaurant Equipment Market Size Expected to Grow by 2029?
Expectations are high for considerable growth in the restaurant equipment market size in the forthcoming years. It's anticipated to expand to $5.72 billion by 2029, yielding a compound annual growth rate (CAGR) of 8.0%. Factors contributing to this projected growth within the forecast period include adherence to food safety and hygiene regulations, directives on energy efficiency, urbanization, the impact of international cuisines, and the utilization of dining facilities in universities. Notable trends during the forecast period encompass increasing utilization of smart and linked kitchen devices, the introduction of automated tools and robotics in the kitchen, equipment tailored to facilitate online and mobile orders, demand for modular and customizable tools, and the incorporation of data analytics and IoT (Internet of Things).

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Which Key Market Drivers Powering Restaurant Equipment Market Expansion and Growth?
A surge in the preference for ready-to-eat meals will likely catalyze the expansion of the restaurant equipment market in the future. These are full-fledged, cooked meals that come adequately prepared and packaged, eliminating the need for additional cooking or preparation. Aspects such as easy availability, busy schedules, time-saving process, and urbanization are fueling the demand for ready-to-eat meals. Restaurant equipment plays a crucial role in these meals' efficient preparation, cooking, and packaging, guaranteeing superior quality, user-friendly food products. For instance, the Bank of Ayudhya Public Company Limited, a commercial banking firm based in Thailand, predicted in March 2024 a 3.0-4.0% annual growth in the home market for Thai-produced ready-to-eat food from 2024 to 2026. Furthermore, in 2022, the total domestic and export sales for the ready-to-eat food sector reached 482.4 thousand tons, amounting to USD 2.0 billion. As such, the burgeoning demand for ready-to-eat meals serves as the driving force behind the restaurant equipment market's growth.

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Which Fast-Growing Trends Are Poised to Disrupt the Restaurant Equipment Market?
Prominent businesses in the restaurant equipment market are focusing on the creation of cutting-edge products like next-generation combi ovens to boost the efficiency and versatility of cooking processes. The term 'next-generation combi ovens' encapsulates advanced culinary tools combining steam and convection cooking for improved efficiency, precision, and versatility. For example, in November 2023, UNOX Inc., a company based in the U.S. that manufactures food machinery, introduced its innovative combi ovens called the X-Generation, designed to transform the food service sector. These ovens leverage the latest technology to enhance cooking speed, uniformity and energy efficiency. They also incorporate food-load sensitivity and smart climate regulation features. The X-Generation ovens have a contemporary design that emphasizes verticality and symmetry and are constructed from robust, high-strength materials. They are fitted with the new Digital.ID operating system, facilitating effortless interaction and control.

What Are the Emerging Segments in the Restaurant Equipment Market?
The restaurant equipment market covered in this report is segmented -

1) By Type: Cooking Equipment, Restaurant Work Table, Food Holding And Warming, Food Preparation Equipment
2) By Distribution Channel: Online, Offline
3) By Application: Hotel, Fast Food Chain, Food Truck, Cart Or Stand, Cafe, Other Applications

Subsegments:
1) By Cooking Equipment: Ovens, Ranges and Cooktops, Grills, Fryers, Steamers
2) By Restaurant Work Table: Stainless Steel Work Tables, Prep Tables with Undershelves, Butcher Block Tables, Mobile Work Tables
3) By Food Holding and Warming: Heat Lamps, Warming Drawers, Steam Tables, Insulated Holding Cabinets
4) By Food Preparation Equipment: Mixers, Food Processors, Slicers, Dough Rollers and Sheeters

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Who Are the Global Leaders in the Restaurant Equipment Market?
Major companies operating in the restaurant equipment market are Libbey Incorporated, Cambro Manufacturing Co, The Vollrath Company, Hobart Food Equipment, Provisur Technologies Inc., Broaster Company, Blodgett Oven Company, Falcon Foodservice Equipment ltd, Victory Refrigeration, AMTek Microwaves, Adexa Direct, Riddhi Display Equipments Pvt Ltd, TAG Catering Equipment UK Ltd, Bakers Pride, Roundstone Catering Equipment Ltd, Cater-kwik Ltd, Target Catering Equipment, Canadian Restaurant Supply, Permul Ltd, Babak Food Equipment, Empura Equipment, Thomasnet, Apollo Kitchen Equipments and Services Pvt Ltd

Which are the Top Profitable Regional Markets for the Restaurant Equipment Industry?
North America was the largest region in the restaurant equipment market in 2023. The regions covered in the restaurant equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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