Food Service Equipment Market to Expand at a CAGR of 5.2%, by 2024
Summary
Valley Cottage, NY, June 24, 2016 --( 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.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.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.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.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.Request Free Report Sample @ http://www.futuremarketinsights.com/reports/sample/rep-gb-1578Full-service restaurants will remain the largest end-users, with total demand expected to reach US$ 19.1 Bn in 2016.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-1578Long-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.