LONDON--(BUSINESS WIRE)--The commercial foodservice equipment market in us is expected to grow by USD 1.20 billion during 2020-2024, expanding at a CAGR of 1%. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
The report offers a detailed analysis of the impact of COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios. - Request a Free Sample Report on Pandemic Recovery Analysis
Commercial Foodservice Equipment Market in US: Is driven by the usage of energy-efficient equipment
The energy-efficient equipment helps these foodservice people to increase their profit margin, draw customer attention by introducing new energy-efficient CFSE, and meet the growing demand for energy-efficient technologies from end-users. The energy star certification is also a key factor that the manufacturers are striving to get, which will eventually drive the sales volume of CFSE. Energy efficiency is expected to play a huge part in the growth of the foodservice equipment market during the forecast period.
Is there any relief during this COVID-19 pandemic? Click to know
As per Technavio, the growing focus on advanced equipment will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Commercial Foodservice Equipment Market In US: Growing Focus On Advanced Equipment
The increasing focus on the usage of advanced equipment is turning out to be a great prospect for the commercial foodservice equipment market in the US for the next four years. Advanced equipment includes helps reduce the time as it offers better sensors and controls, ensures efficiency, and enhances the user experience by making the cooking experience more interactive.
“Energy-efficient equipment provides an opportunity for manufacturers to increase their profit margins. Owing to the increasing focus of end-users on cutting down energy consumption, many manufacturers are also trying to introduce new commercial food service equipment, which are more efficient than conventional ones," says a senior analyst at Technavio
Register for a free trial today and gain instant access to 17,000+ market research reports
Technavio's SUBSCRIPTION platform
Commercial Foodservice Equipment Market In US: Segmentation Analysis
This market research report segments the commercial foodservice equipment market in us by Product (Refrigeration and ice machine, Foodservice disposables and gloves, Primary cooking equipment, Storage and handling equipment, and Others).
The Commercial refrigerators and ice machines will lead the Commercial Foodservice Equipment Market in US during 2019. The segment includes machines like walk-in coolers, display cases, refrigerators, ice-making machinery, deep freezers, and chest coolers, blast chillers, and standard refrigerators.
The APAC region led the commercial foodservice equipment market in us in 2020, followed by North America, South America, Europe, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth.
Technavio’s sample reports are free of charge and Gain competitive intelligence about market players. Track key industry trends, opportunities, and threats. Inform your marketing, brand, strategy, and market development. Request a free sample report
Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
