Technavio, a tech-focused market research firm, has published a new report on the global galley equipment market, which is expected to grow at a CAGR of more than 4% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global galley equipment market for 2017-2021, considering 2016 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global galley equipment market into the following key regions: APAC, Europe, North America, and ROW.
Geographical segmentation of the global galley equipment market for 2016 (market share %)
|
North America |
32.41% |
|
Europe |
24.31% |
|
APAC |
28.73% |
|
ROW |
14.55% |
Source: Technavio
North America: largest revenue generating region for galley equipment
The global galley equipment market in the Americas generated revenues of almost USD2 billion in 2016 and will grow at a CAGR of around 4% by 2021. The increasing large order queue from commercial airlines and cruise ship companies to the manufacturers will make the Americas the largest region in the market. The galley equipment vendors in the region are partnering with commercial kitchen equipment manufacturers to provide high-end cooking equipment and countertop food preparation equipment. Some of the leading galley equipment providers in North America are Zodiac Aerospace, B/E Aerospace, and National Marine Suppliers.
“The vendors in the market are entering into collaborations and partnerships to provide high-end galley equipment for higher market shares. The high number of large-scale orders from commercial airlines are encouraging aircraft galley equipment providers to enhance and expand their product portfolio. These large orders are encouraging vendors to introduce modular and lightweight galleys for commercial airlines and cruise ships,” says Manu Gupta, a lead analyst at Technavio.
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Galley equipment market in Europe
The global galley equipment market in Europe generated revenues of more than USD1 billion in 2016 and will grow at a CAGR of over 3% by 2021. The increasing demand for customized galley systems is boosting the sales of this equipment in the European market. The market in this region is also driven by the growth in the manufacturing of new units of cruise ships and yachts. The vendors are using stainless steel structures in the galley systems in cruise ships to reduce the load on board and enhance the sailing performance of the vessel. Some of the companies are partnering with commercial kitchen equipment providers to offer built-in ovens and microwaves to be installed in marine galley systems. Such innovations will contribute to the further growth of the market in Europe.
Galley equipment market in APAC
The global galley equipment market in APAC generated revenues of close to USD2 billion in 2016 and will grow at a CAGR of almost 5% by 2021. The intense rivalry among the airlines in the region to increase their fleet is driving the growth in the APAC market. The vendors in the market are introducing customized bar counters that are energy-efficient, lightweight galley equipment such as steam ovens and microwave ovens to airlines. The companies are offering lightweight galley inserts, which are easy-to-use equipment made of stainless steel that can enhance the performance of the ship. Some of the systems offered include countertop and floor models that are energy-efficient and can minimize the on board energy consumption.
Galley equipment market in ROW
The global galley equipment market in ROW generated revenues of around USD790 million in 2016 and will grow at a CAGR of more than 3% by 2021. The increasing number of narrow-body aircraft fleets in the Middle Eastern market will drive the market growth in this region. Moreover, the large-scale orders from airlines in Latin American countries will help the vendor introduce innovative products and systems in the market of this region.
The top leading vendors operating in the global galley equipment market are:
- B/E Aerospace
- JAMCO
- Kang Li Far East
- Loipart
- Zodiac Aerospace
Other prominent vendors in the market include GN Espace, Bucher, JEITEK, Diehl Aerosystem, Aerolux, and National Marine Suppliers.
A more detailed analysis is available in the Technavio report titled, ‘Global Galley Equipment Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Aircraft Galley Equipment Market 2016-2020
- Global Transmission Systems for Marine Applications 2016-2020
- Global Commercial Aircraft Windows and Windshields Market 2016-2020
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