Food Service Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020
Albany, NY -- (SBWIRE) -- 01/06/2015 -- According to a new market report published by Transparency Market Research "Food Service Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020," the market is expected to reach a value of USD 47.95 billion by 2020; growing at a CAGR of 4.5% from 2014 to 2020.. Growing demand for eco friendly appliances and increase in hygiene concern has led to the growing demand for food service equipment. In 2013, North America held the largest market share globally. The global food service equipment market has been segmented by product types, washware equipment and geography.
Food service equipment market includes various product types such as kitchen purposes, refrigeration, storage, warewashing and food holding & serving among others. Among the various types of food service equipment, kitchen purpose equipment has the largest market share followed by refrigeration in 2013.
Browse the full Food Service Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020 report at http://www.transparencymarketresearch.com/food-service-equipment.html
Based on washware equipment the market has been segmented as booster heaters, dishwashers, disposers, utensil washer and others. Dishwashers segment held the largest market share in 2013 and is expected to show substantial growth during the forecast period. It accounted for approximately 36.27% of the market share in the total washware equipment market.
In 2013, North America held the largest market share in the food service equipment market globally. The demand for food service equipment in North America is primarily driven by the growing food service industry in the region. The other factor contributing to the growing demand of food service industry in the region is the stringent rules and regulation set by the food regulatory bodies in the region. North America is followed by Europe in terms of value whereas Asia Pacific is the fastest growing market. The growth in the region is attributed to growing economies such as China, India, Singapore, Malaysia and Australia among others.
There are large numbers of players present in the food service equipment market. However, the food service equipment market is consolidated in nature. Ali Group, ITW (Hobart Corporation), Dover Corporation, Manitowoc Company Inc., Middleby Corporation, Meiko, Fujimak Corporation, Hoshizaki Electric Co., Ltd., Rational AG and Libbey Inc., among others are some of the key players in the food service equipment market.
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The market has been segmented as follows for better understanding and to formulate winning strategies for the market players.
Global Food Service Equipment Market
Food holding & serving
By washware equipment
Rest of the World (RoW)
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