UK Catering Equipment Market to Reach $1.49 Billion by 2015, According to New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive UK report on Catering Equipment market. The UK market for catering equipment is projected to reach $1.49 billion by the year 2015. Although tempered by the recent economic recession, the market is expected to recover and gain poise in the next few years, ably guided by modernization and replacement needs, and recent innovation within the industry.
San Jose, California (PRWEB) February 22, 2010
The market for catering equipment primarily depends on the health of the total catering industry. Therefore, the recent setback in the UK catering market, courtesy a slump in tourism and curtailed/cancelled business events such as conferences, off-site meetings and parties, has also resulted in a downslide in the growth of catering equipment market during the last two years. Recession induced trends such as lower disposable incomes and changes in the consumer spending habits have increased the popularity of home entertainment and home leisure, which in turn have cut down the demand for catering and catering equipment emerging from social venues such as restaurants and banquet halls. However, industry players are optimistic about a revival in the industry during the next few years. Post recession growth in the UK Catering Equipment (http://www. strategyr. com/Catering_Equipment_Market_Report. asp) market will be driven by revival in the economy, subsequent improvement in number of tourists to the nation, growth in income levels, urbanization, roll out of new catering outlets and expansion of commercial establishments, all of which will enhance the catering service (http://www. strategyr. com/Catering_Equipment_Market_Report. asp) portfolio and therefore, the demand for catering equipment.
Growth will also be driven by modernization & replacement needs, which are generated by natural wear-and-tear of plug-in catering equipment, rapid developments in product design, and increased sales of cold and frozen foods, all of which demand modernization or replacement of existing equipment. With manufacturers focusing on developing innovative and functional products to influence consumers' choice of purchase, several new products across cooking, warming, refrigeration, and beverage categories are emerging of late. For instance, rising power costs has led to the development of energy-efficient and eco friendly equipment.
Key players in the marketplace include Aga Rangemaster Group Plc, AHT Cooling Systems GmbH, Bunzl Lockhart Catering Equipment Ltd, Dawson MMP Ltd, Enodis PLC, Foster Refrigerator, Franke Sissons Ltd, Hobart UK Ltd, Lincat Group PLC, ScoMac Catering Equipment Ltd, Valera Ltd, and Winterhalter Ltd.
The report titled "Catering Equipment: A UK Market Report" announced by Global Industry Analysts, Inc., provides a review of noteworthy market trends, growth drivers and issues. The report also enumerates recent acquisitions, and other strategic industry activities. This study provides market estimates and projections in terms of annual revenue (in US$ million) for the UK market.
For more details about this market research report, please visit - http://www. strategyr. com/Catering_Equipment_Market_Report. asp (http://www. strategyr. com/Catering_Equipment_Market_Report. asp)
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (http://www. strategyR. com/) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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