The 2023-2028 World Outlook for Food Service Equipment

The 2023-2028 World Outlook for Food Service Equipment

This study covers the world outlook for food service equipment across more than 190 countries. For each year reported, estimates are given for the latent demand, or potential industry earnings (P.I.E.), for the country in question (in millions of U.S. dollars), the percent share the country is of the region, and of the globe. These comparative benchmarks allow the reader to quickly gauge a country vis-à-vis others. Using econometric models which project fundamental economic dynamics within each country and across countries, latent demand estimates are created. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.

In this report we define the sales of food service equipment as including all commonly understood products falling within this broad category, such as refrigerators, ranges and ovens, washing machines, air conditioners, food processors, vacuum cleaners, televisions, telephones, VCRs, audio systems, home theater systems, and all other manufactured products for the home which are built to be used over a long period of time, irrespective of product packaging, formulation, size, or form. Companies participating in this industry include AB Electrolux, Ali Group, Alto-Shaam, Berjaya Steel Product Sdn. Bhd, Bharti Refrigeration Works, Buildit, Cambro Manufacturing, Comstock-Castle Stove Company, Inc., Dover, Duke Manufacturing, Electrolux, Fujimak, Haier, Hobart, Hoshizaki America, Illinois Tool Works (ITW), Inc., ITW (Hobart Corporation), Kitchenrama, Manitowac Company, Manitowoc, Meiko, Middleby, MJD Industries, Inc., Parth Kitchen Equipments, Shreemanek, Smeg, Standex International, The Middleby, Vulcan, and Welbilt. In addition to the sources indicated, additional information available to the public via news and/or press releases published by players in the industry was considered in defining and calibrating this category. All figures are in a common currency (U.S. dollars, millions) and are not adjusted for inflation (i.e., they are current values). Exchange rates used to convert to U.S. dollars are averages for the year in question. Future exchange rates are assumed to be constant in the future at the current level (the average of the year of this publication's release in 2022).