Market Highlights: Food Service Equipment market comprises of any and all products that assist in preparation, ordering, storage, and delivery of food across restaurants, households, and other places. These culinary equipment are expected to witness lucrative growth over the forecast period, owing to rapidly growing food industry, rising adoption of IT within the industry and shifting lifestyle of consumers leading to increase in outside culinary experiences. The market study is being classified by Type (Food Preparation Equipment, Drink Preparation Equipment, Cooking Equipment, Heating and Holding Equipment, Storage Equipment and Others), by Application (Hotels, Restaurants & Bars, Household, Catering and Institutional) and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Sweden, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Key Players: The prominent players in the Food Service Equipment are Haier (China), Electrolux AB (Sweden), Hoshizaki America, Inc. (United States), Ali Group (Italy), Welbilt, Inc. (United States), Dover Corporation (United States), Middleby Corporation (United States), RATIONAL (Germany), Standex International Corporation (United States), The Vollrath Company, LLC (United States), Duke Manufacturing (United States), Alto-Shaam, Inc. (United States) and Boelter (United States).
Major Market Development Highlights In 2022, Welbilt, Inc. has announced that it has entered into an agreement to sell its Manitowoc Ice business to Pentair plc, an Ali Group company, for approximately USD 1.6 billion in cash, cashless and debt-free. Manitowoc Ice manufactures and markets a full line of ice machines and related equipment. Manitowoc Ice will benefit from Pentair's focus on water solutions as well as the company's diverse customer base and product line., In December 2018, EVO America, Inc. was acquired by Middleby Corporation, owing to their specialized range of ventless cooking equipment. and In the same month, Middleby Corporation also acquired, Crown Food Service Equipment, Ltd. a company located in Canada catering to manufacturing of steam cooking equipment. Such acquisition is expected to expand the companies product portfolio, thereby bolstering their market presence. In 2020, Hydro Systems, a brand of dishwashing equipment under PSG Dover (Pump Solutions Group acquired by Dover Corporation), has introduced two new integrated rinse pumps, EvoWash and EvoRinse. The instrument is integrated with an optional powder or solid detergent dissolver, ideal for commercial and non-commercial food service operations., In April 2018, Welbelt, Inc., Hoshizaki America, True Manufacturing Co., Inc. and ITW Food Equipment Group were awarded the Energy Star Award owing to their initiatives to manufacture energy efficient food service equipment. and In anticipation of the rising demand for these products, it may also be concluded that expansion of existing players and penetration of new market entrants are expected to be seen over the forecast period. For instance, in July 2018, Welbilt, Inc. inaugurated a new facility in Russia to expand its foothold within the region. The facility also incorporates a demonstration kitchen.
Key Questions Answered in the Report What will the Food Service Equipment Market size and the growth rate be in Future? What are the key factors driving the Food Service Equipment Market? What are the key market trends and macro-economic impacting the growth of the Food Service Equipment Market? What are the challenges to market growth? Who are the key vendors in the Food Service Equipment Market? What are the market opportunities and threats faced by the vendors in the Food Service Equipment Market? Trending factors influencing the market shares of the Vendors. What are the key outcomes of the five forces analysis of the Food Service Equipment Market?
Research Methodology: The top-down and bottom-up approaches are used to estimate and validate the size of the Global Food Service Equipment market. In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Food Service Equipment market. In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc. Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Food Equipment Manufactures, Potential Investors, Restaurant owners and Regulatory bodies. This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth etc. Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.