Galley Equipment Market to grow by USD 2.74 billion from 2022 to 2027, Growing demand for lightweight galley equipment to drive the growth- Technavio

NEW YORK, Sept. 12, 2023 /PRNewswire/ -- The galley equipment market is expected to grow by USD 2.74 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 5.12% during the forecast period. The market is segmented by application (marine and aviation), type (single-aisle, twin-aisle, and business general aviation), and geography (North America, APAC, Europe, Middle East and Africa, and South America). The growing demand for lightweight galley equipment is a key factor driving market growth. Commercial aircraft and ship manufacturers are prioritizing lightweight kitchen equipment to reduce stress on board. Companies offer design, construction, and technology customizations to meet user needs. For example, the Bucher group is known for its light kitchen options. This weight reduction not only improves onboard comfort but also helps reduce fuel consumption, thus providing economic and environmental benefits. Hence, these factors are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the galley equipment market: Aerolux Ltd., Air Cabin Engineering Inc., Aluminox S.A., Astronics Corp., AVIC Cabin Systems Ltd., Bucher Leichtbau AG, Diehl Stiftung and Co. KG, Direct Aviation Group, ETI Tech LLC, Euro Composites SA, Geven Spa, GN Espace Galley Solutions Ltd., Goltens Worldwide Management Corp., JAMCO Corp., Kang Li Far East Pte Ltd., Loipart AB, Miele and Cie. KG, Raytheon Technologies Corp., Safran SA, and The Boeing Co.
• The Galley Equipment Market is fragmented in nature.
• Market to observe 5.05% YOY growth in 2023.

Market Dynamics:

Major Trends

• The rising demand for customized galley systems is a major trend in the market.

Significant Challenge

• The growth of LCC airlines is a significant challenge restricting market growth.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments

The market is segmented by application (marine and aviation), type (single-aisle, twin-aisle, and business general aviation), and geography (North America, APAC, Europe, Middle East and Africa, and South America).

• The market share growth by the marine segment will be significant during the forecast period. These end users include commercial ships, cruisers, and yachts. Galley equipment contributes to improving the quality and hygiene of food served on board. Major suppliers include Kang Li Far East, ALMACO Group, Loipart, and GN Espace, which supply appliances such as ovens, mixers, blenders, toasters, deep fryers, refrigerators, and compressors. In addition, partnerships such as National Marine Companies with Vulcan, Hobart, and others help deliver high-quality solutions. Hence, these factors are expected to drive segment growth during the forecast period.

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Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio