Global Food Service Equipment Market Report, published by Variant Market Research, forecast that the global market is expected to reach $63 billion by 2024 from $41 billion in 2016; growing at a CAGR of 5.6% from 2016 to 2024. By geography, Asia Pacific and rest of the world (RoW) are expected to grow at a CAGR of 7.7% and 6.4%, respectively, during the forecast period.

BrowseCompleteReport@https://www.variantmarketresearch.com/report-categories/consumer-electronics/food-service-equipment-market

Major drivers of food service equipment market include high penetration of digitalization and development of advanced products with internet connectivity. Moreover, increase in number of restaurants, hotels, food joints and increasing awareness of energy consumption is also anticipated to support the growth of the market.

Get Sample Report @https://www.variantmarketresearch.com/report-categories/consumer-electronics/food-service-equipment-market/sample-request

The food service equipment market is segmented based on the type, washware equipment and geography. By type, kitchen purposes and refrigeration accounted for 28.9% and 21.3% of market share respectively, in the year 2016. In the same year, washware equipment segment, and dish washers and disposers accounted 35.5% and 19.6% shares respectively.
Geographically, food service equipment market has been segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). Asia Pacific is the fastest growing region in the global food service equipment market, and is projected to continue this trend, driven by the rapid urbanization and growing trend for consumption of ready to eat and processed food. In the year 2016, North America accounted the largest share of the market with 38.6% followed by Europe with 24.6%.
Major companies operating in the food service equipment market include Middleby Corporation, Tupperware Brands Corporation, Dover Corporation, Welbilt Inc., Ali S.p.A, Hoshizaki Electric Co. Ltd., Libbey Inc., Ali Group and Cambro Manufacturing Company, Inc. In 2017, Welbilt, Inc. and Halton Group Americas have entered into strategic alliance to facilitate the incorporation of Halton ventilation solutions into wide range of Welbilt’s equipment to better meet the needs of their customers.

About Us:
Variant Market Research is founded by experts from market research industry. We have dedicated team of analysts and consultants, who provide precise and accurate research findings to support client’s next strategic expansion and future growth. We cater industry reports from various industries, namely- Consumer Goods, Information and Communication Technology, Semiconductor & Electronics, Defense & Aerospace, Food & Beverages, and mining, among others.

Contact Us:
VARIANT MARKET RESEARCH LLP
Web: https://www.variantmarketresearch.com/
USA Office:
649 Mission St.,
5th Floor, San Francisco,
CA 94105, United States.
Tel: +1-415-680-2785
Fax: +1-415-680-2786
Email: [email protected]