Global Ship Galley Equipment Market to Exhibit a CAGR of 2.6% from 2019 to 2025


 Published Date : 15 Jan 20   |   Views: 125   |  Industry : Machinery & Equipment

QYR Consulting has published a new report titled, “Ship Galley Equipment Market Report: Company Analysis, History and Future Overview, Global Sales Trends by 2025” that identifies key areas to explore the market. As per the report, the global Ship Galley Equipment market was valued worth US$ 4.7 Bn in 2018 and is projected to obtain US$ 5.6 Bn by the end of 2025. The global Ship Galley Equipment market is likely to exhibit a sluggish CAGR of 2.6% from 2019 to 2025.

Segmental Analysis

Cooking Segment is Expected to be a Prominent Segment During the Projected Period

The type segment of the market is divided into Beverages & Refrigeration, Baking, Dishwasher, Cooking, and Miscellaneous furniture. The cooking equipment is needed on ships for feeding the crew. This equipment is designed for limited space and is resistant to the movement of the ship. This is likely to fuel the growth of the cooking segment over the next few years. 

The application segment of the market is bifurcated into ship repair & conversion and shipbuilding while the vessel type segment is segregated into Passenger vessels, Offshore and special vessel, bulk containers and oil tankers, yacht and other ships, general cargo and container ships, and naval ships. 

North America

Regional Analysis

Large U.S. navy fleet to Foster the Growth of the Regional Market

The major market for the ship galley equipment in North America is the U.S. due to the presence of a large fleet. Europe has a considerable amount of tourism, which is likely to boost the growth of the market. South Korea along with Japan are expected to be at the forefront of the shipbuilding industry in the Asia-Pacific, which is likely to foster the growth of the Ship Galley Equipment market.

Key Players

Market Player are Inclined to offer Advanced Equipment

Some of the key players operating in the Ship Galley Equipment market are GN-Espace, Metos Oy Ab, Miele & Cie. KG, Electrolux, WESCO Navy, MKN Maschinenfabrik Kurt Neubauer GmbH & Co. KG, Goltens Worldwide Management Corp, Hobart UK, and Loipart AB.

Market players are keen to launch new products and are inclined to offer advanced technical equipment for maritime.

WESCO Navy, a major company has launched Oven BOB1, a baking oven with stainless steel stand. The equipment can be mounted against the wall and it has built-in switches, lamps, and thermostats.

Global CAGR During 2020-2026


Market Dynamics

Growing Tourism to Foster the Growth of the Global Ship Galley Equipment Market

The rapidly growing tourism industry is likely to result in high demand for sea vessels like ferries and luxury cruise ships, which are popular with the tourists. This is likely to foster the growth of the Ship Galley Equipment market. Luxury Cruise ships, ferries, cargo, and other ships require cooking equipment such as refrigerators, dishwashers, and others. The galley ship equipment is used for cooking, food processing, storage, and also used as disposable units, and plating counters, which is driving the growth of the market.

For further information, check :https://www.qyrconsulting.com/reports/ship-galley-equipment-market

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