ALBANY, N.Y.--(BUSINESS WIRE)--Transparency Market Research announces the release of a report titled “Food Service Equipment Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”. According to the report, the global food service equipment market was worth US$35 billion in 2013 and, registering a CAGR of 4.5% from 2014 to 2020, is projected to be worth US$47.95 billion by 2020.
The research report examines the food service equipment market on three criteria: product type, washware equipment, and geography. By product type, the food service equipment market can be segmented into storage, food holding and serving, warewashing, refrigeration, kitchen purposes, and others. Among these, kitchen purposes dominated the segment in 2013, followed by refrigeration. By washware equipment, the food service equipment market is classified into utensil washer, disposers, dishwasher, booster heater, and others. Of these, dishwashers held 36.27% share of the washware segment in 2013.
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Geographically, the food service equipment market is divided into North America, Europe, Asia-Pacific, and RoW, with North America emerging as the leader of the global market in 2013. While Europe follows after North America, Asia-Pacific is estimated to be the fastest-growing regional segment of the food service equipment market. The overall market is expected to witness moderate growth owing to emerging economies such as India, China, Malaysia, Singapore, and Australia.
The global food service equipment market is highly competitive and the presence of a large number of players makes it consolidated in nature. The leading participants of the global food service equipment market are Libbey Inc., Vollrath Co., Dispensing Dynamics International Inc., Hobart Corporation, Ali Group, Electrolux AB, Duke Manufacturing Co. Inc., Meiko, Cambro Manufacturing Company, Inc., Rational AG, Alto Shaam Inc., Middleby Corporation, Tupperware Brands Corporation, Manitowoc Company Inc., Dover Corporation, Hoshizaki Electric Co., Ltd., and Fujimak Corporation.
TMR is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.