Low crude prices and low unemployment rates will have a positive impact on demand. US will continue to lead global demand.

VALLEY COTTAGE, NEW YORK, UNITED STATES, June 23, 2016 /EINPresswire.com/ -- Food service equipment market revenues will witness another year of stable growth for 2016, increasing by 4.4% in 2016 to reach US$ 28.9 Bn in revenues. The food service equipment market in North America (US and Canada) will continue its upward momentum in 2016, driven by declining unemployment rates and prevailing low crude oil prices. Growing popularity of quick-service restaurants will also create growth opportunities in the region.

Low crude oil prices will also influence demand in Europe and Asia Pacific, with these key regions growing at 3.6% and 7.1% respectively in 2016. Gains from lower shipping costs, combined with higher sales, on account of steadily improving employment rate, will continue to positively influence the market in these two markets.

Request a Sample Report: http://www.futuremarketinsights.com/reports/sample/rep-gb-1578

By product type, cooking and baking equipment will continue to be the leading segments in terms of revenue, whereas food preparation equipment will witness robust growth rate of 6.1% in 2016.

Full-service restaurants will remain the largest end-users, with total demand expected to reach US$ 19.1 Bn in 2016. Mushrooming of quick-service restaurants will have a favourable impact as far as overall demand is concerned, whereas caterers and hotels & club restaurants will provide additional support to sustain favourable growth for another year.

Free Analysis by Regional Outlook: http://www.futuremarketinsights.com/reports/foodservice-equipment-market

Manitowoc Foodservice Inc, Middleby Corporation, and Ali Group are the three prominent players in the global food service equipment market. Collectively, these companies account for 11.2% revenue share of the market. The key strategy of leading players in the food service equipment market is to expand through acquisition of regional players that have strong distribution networks. Furthermore, key players are using online platforms, including websites, apps, and social media to connect with their end-users.

Request for TOC: http://www.futuremarketinsights.com/toc/rep-gb-1578

Long-term Outlook: The global food service equipment market will expand at a steady CAGR of 5.2% through 2024 and reach US$ 42.92 billion in revenues.

Get More Insights on Industrial Automation & Equipment Market Research Report: http://www.futuremarketinsights.com/reports/category/industrial-automation-equipment

About Us

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

Our research services cover global as well as regional emerging markets such as GCC, ASEAN, and BRICS. Our offerings cover a broad spectrum of industries including Chemicals, Materials, Energy, Technology, Healthcare, and Retail. FMI’s operating model blends cross-disciplinary research experience to deploy in-depth, insightful and actionable research.

Contact

616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
T (UK): + 44 (0) 20 7692 8790
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Website: http://www.futuremarketinsights.com/
Press: http://www.futuremarketinsights.com/press-release

Abhishek Budholiya
Future Market Insights
3479183531
email us here