Demand for Global Galley Equipment Market Size & Share Worth USD 7915.1 Million by 2028, Exhibit a CAGR of 4.1% Growth | Industry Trends, Value, Analysis & Forecast Report by Facts & Factors
[227+ Pages Report] According to a market research study published by Facts and Factors, the demand analysis of Global Galley Equipment Market size & share revenue was valued at around USD 6219.5 million in 2021 and is estimated to grow to about USD 7915.1 million by 2028, at a CAGR of approximately 4.1% between 2022 and 2028. The key market players are listed in the report with their sales, revenues and strategies are B/E Aerospace (U.S.), Zodiac Aerospace (France), JAMCO Corporation (Japan), Diehl Stiftung & Co. KG (Germany), Meili Marine (U.S.), and others.
NEW YORK, United States, April 28, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Galley Equipment Market By Application (Aviation, Marine, Defense, and Commercial), By Aircraft Type (Single-aisle, Twin-aisle, and Business General Aviation), By Ship Type (Surface Ships, Amphibious Ships, Passenger Vessels, Recreational Boats, and Bulk Carriers), By Insert Type (Aviation Galleys, Electric Insert, Non-Electric Insert, Ship Galleys, Electric Insert, and Non-Electric Insert), By Fit (Line Fit and Retro Fit), and By Region - Global and Regional Industry Trends, Market Insights, Data analysis, Historical Information, and Forecast 2022–2028” in its research database.
“According to the latest research study, the demand of global Galley Equipment Market size & share was witnessed USD 6219.5 million in 2021and it is expected to surpass around USD 7915.1 million Mark, by 2028, at a compound annual growth rate (CAGR) of about 4.1% during the forecast period 2022 to 2028.”
What is Galley Equipment? How big is the Galley Equipment Market?
Market Overview:
Galley equipment refers to a variety of onboard kitchen appliances used for cooking and storing food materials on land, sea, and airborne vessels. They consist of both non-electric and electric additives, such as serving pots, trays, racks, trolleys, and trash compartments, as well as food processing equipment, chillers, and washing machinery. The expanding travel and tourism industry represents one of the key factors driving the growth of the market in the forecast period.
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Report Scope
Report Attribute | Details |
Market Size in 2021 | USD 6219.5 Million |
Projected Market Size in 2028 | USD 7915.1 Million |
CAGR Growth Rate | 4.1% CAGR |
Base Year | 2021 |
Forecast Years | 2022-2028 |
Key Market Players | B/E Aerospace (U.S.), Zodiac Aerospace (France), JAMCO Corporation (Japan), Diehl Stiftung & Co. KG (Germany), and Meili Marine (U.S.), among others |
Key Segment | By Application, Aircraft Type, Ship Type, Insert Type, Fit, and Region |
Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
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Global Galley Equipment Market: Dynamics
Rising Demand for Aircraft
A significant increase in the sales of modern aircraft and the rising number of fleet deployments across the globe is also providing a boost to the market growth. There is also widespread adoption of lightweight galley equipment in various ships and aircraft that aid in enhancing the operational efficiency of the vessel, along with providing comfort and convenience for the passengers, driving the growth of the market in the coming years. If airlines used better galleries, they would be able to serve nicer food and beverages. These aspects may have a major impact on global market performance. The increasing demand for modular galleys is also creating a positive impact on market growth. Manufacturers are developing innovative and aesthetically appealing product variants that can be customized according to the requirements of the customers, propelling the growth of the market in the upcoming years.
Moreover, factors, like rapid urbanization and extensive research and development (R&D) activities in the aviation industry, are estimated to drive the market in the approaching years. Despite its numerous applications, the expansion of the galley equipment market is hampered by a few factors. The growing popularity of low-cost carriers for a variety of commercial and personal uses has stifled the growth of galley equipment. Furthermore, enterprises in this industry are always challenged by the need to reduce the weight and size of galley equipment.
Browse the full “Galley Equipment Market By Application (Aviation, Marine, Defense, and Commercial), By Aircraft Type (Single-aisle, Twin-aisle, and Business General Aviation), By Ship Type (Surface Ships, Amphibious Ships, Passenger Vessels, Recreational Boats, and Bulk Carriers), By Insert Type (Aviation Galleys, Electric Insert, Non-Electric Insert, Ship Galleys, Electric Insert, and Non-Electric Insert), By Fit (Line Fit and Retro Fit), and By Region - Global and Regional Industry Trends, Market Insights, Data analysis, Historical Information, and Forecast 2022–2028” Report at https://www.fnfresearch.com/galley-equipment-market
Galley Equipment Market: COVID-19 Impact Analysis
The Covid-19 pandemics have had a negative impact on most businesses around the world. This is due to significant disruptions in their respective manufacturing and supply-chain operations as a result of multiple precautionary lockdowns and other restrictions imposed by governments around the world. Moreover, consumer demand has reduced as individuals are now more focused on reducing non-essential spending from their personal budgets since the overall economic position of most people has been negatively impacted by this epidemic.
The aforementioned factors are expected to have a negative impact on the global Galley Equipment market's revenue trajectory over the forecast period. The global Galley Equipment market is expected to rebound once regional regulatory authorities begin to ease these imposed lockdowns.
Galley Equipment Market: Segmentation Analysis
The Galley Equipment Market is segregated based on Application, Aircraft Type, Ship Type, Insert Type, and Fit. Based on Application, the global market is distinguished into Aviation, Marine, Defense, and Commercial. Based on Aircraft Type, the global market is distinguished into Single-aisle, Twin-aisle, and Business general aviation.
Based on Ship Type, the global market is distinguished into Surface Ships, Amphibious Ships, Passenger Vessels, Recreational Boats, and Bulk Carriers. Based on Insert Type, the global market is distinguished into Aviation Galleys, Electric Insert, Non-Electric Insert, Ship Galleys, Electric Insert, and Non-Electric Insert. Based on Fit, the global market is distinguished into Line Fit and Retro Fit.
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Competitive Landscape
Some of the main competitors dominating the global galley equipment market include -
B/E Aerospace (U.S.)
Zodiac Aerospace (France)
JAMCO Corporation (Japan)
Diehl Stiftung & Co. KG (Germany)
Meili Marine (U.S.)
Key Insights from Primary Research:
As per the analysis shared by our research analyst, the Galley Equipment market is anticipated to grow at a CAGR of around 4.1%.
The Galley Equipment market was valued at around USD 6219.5 million in 2021 and is projected to reach USD 7915.1 million, by 2028.
Based on application segment, the marine segment dominates the market and is likely to do so during the forecast period, owing to rising global marine shipments.
By Aircraft Type, the single-aisle segment is expected to increase rapidly due to increasing global demand for single-aisle aircraft.
On the basis of region, the Asia Pacific has grown rapidly. The surge in demand for new aircraft deliveries is a major factor in its rapid expansion.
Key questions answered in this report:
What is the market size and growth rate forecast for Galley Equipment industry?
What are the main driving factors propelling the Galley Equipment Market forward?
What are the leading companies in the Galley Equipment Industry?
What segments does the Galley Equipment Market cover?
How can I receive a free copy of the Galley Equipment Market sample report and company profiles?
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Regional Dominance:
During the forecast period, the APAC region is predicted to have the greatest growth rate in the galley equipment market. Over the last several years, the region has seen considerable expansion in the aviation and marine industries, mostly due to increased demand for new aircraft deliveries and an increase in the region's marine fleet, which is likely to enhance the galley equipment market. This growth can also be attributed to the increase in government spending on developing naval forces, increasing the disposable of the population in emerging countries, such as India and China.
North American Galley Equipment Market is expected to witness tremendous growth due to the growing number of commercial aircraft and the demand for new commercial aircraft and business jets in the region. In addition, the cruise industry in North America is on the rise due to more passengers opting for cruise travel in the region, new cruise ships with increased capacities are expected to be delivered in the future, driving the market growth in the future.
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The global galley equipment market is segmented as follows:
By Application
Aviation
Marine
Defense
Commercial
By Aircraft Type
Single-aisle
Twin-aisle
Business General Aviation
By Ship Type
Surface Ships
Amphibious Ships
Passenger Vessels
Recreational Boats
Bulk Carriers
By Insert Type
Aviation Galleys
Electric Insert
Non-Electric Insert
Ship Galleys
Electric Insert
Non-Electric Insert
By Region
North America
U.S.
Canada
Rest of North America
Europe
France
UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Rest of Asia Pacific
The Middle East & Africa
Saudi Arabia
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
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