Galley Equipment Market worth $2.6 Bn by 2020
- According to a New Study on ASDReports
The report, now available on ASDReports, “Galley Equipment Market by Galley Type (Single Aisle, Twin Aisle, Custom-Fit), by Galley Inserts (Electric Inserts and Non-Electric Inserts), by Application (Aviation, Marine), by Geography - Forecast 2014 to 2020”, analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. This report studies the global galley equipment market over the forecast period from 2014 to 2020. The total value of global galley equipment market is expected to reach $2.6 Billion by 2020, at CAGR of 4.10% from 2014 to 2020.
The global galley equipment market is classified into two major segments: marine galley equipment and aviation galley equipment. The marine galley equipment market is further categorized into non-electric galley inserts such as hoods and canopies, buffet/bar counters, stainless steel panel system, and trash compactor, and electric galley inserts such as cooking equipment, food processing equipment, wash ware machineries, and refrigeration system. The marine market comprises of defense and commercial marine vessels which include surface ships, submarines, amphibious ships, passenger vessels, recreational boats, and bulk carriers.
Galley Equipment Market - Forecast 2014 to 2020
Likewise, the aviation galley equipment market is further categorized into non-electric galley inserts such as rack/tray, serving pot, trolley, and trash compactor and electric galley inserts such as beverage chiller, beverage maker, coffee maker, water boiler, bun warmer, air chiller, inbuilt-bar, dishwasher, and refrigeration system. The aviation market comprises very-large aircraft, wide-body aircraft, narrow-body aircraft, and business general aviation.
A number of factors such as rising demand for the aircraft, increase in demand for the light-weight galley equipment, and demand for galley customization as per customer’s preferences drive the global galley equipment market. On the other hand, factors such as demand for low-cost carriers and delays in shipment deliveries as part of new programs are restricting the growth of this market. However, increasing investments in emerging economies such as India and China offer new growth opportunities for the market players.
As of 2014, APAC is estimated to hold the largest share of the galley equipment market, followed by North America. Also, the Asia-Pacific market too is expected to grow at the highest CAGR of 4.53% from 2014 to 2020 owing to a rise in the aircraft and marine vessel building order. On the other hand, a number of factors including demand for the improved customer experience and increase in shipments in APAC and the Middle East are expected to accelerate the galley equipment market, globally.
Key players profiled in the report include Zodiac Aerospace (France), B/E Aerospace (U.S.), JAMCO Corporation (Japan), Diehl Aerospace (Germany), Bucher Leichtbau AG (Switzerland), Kangli Far East Pte Ltd (Singapore), ALMACO Group (Finland), LOIPART AB (Sweden), REINHOLD & MAHLA AG ( Germany), and JEITEK (Korea) among others.
Source : ASDReports - Market Research - view original press release