As of 2023, the global galley equipment market has successfully attained a significant valuation of US$ 10.1 billion, reflecting its robust growth trajectory.
Projections suggest that the market is poised to maintain a steady pace of expansion, with an estimated CAGR of 5.3% from 2023 to 2033. Such consistent growth is expected to propel the market to remarkable heights, culminating in an impressive value of US$ 16.8 billion by the end of 2033.
The market is witnessing growth primarily due to the expanding travel and tourism industry, which serves as a key driving factor. In addition, the substantial rise in modern aircraft sales and the global deployment of fleets are contributing to market growth.
The widespread adoption of lightweight galley equipment in ships and aircraft is further enhancing operational efficiency while ensuring passenger comfort and convenience.
These factors collectively propel the market forward and promise a prosperous future for galley equipment solutions in the travel and transportation sectors.
Attribute | Details |
---|---|
Galley Equipment Market Size Value in 2023 | US$ 10.1 billion |
Galley Equipment Market Forecast Value in 2033 | US$ 16.8 billion |
Galley Equipment Market Growth Rate (2023 to 2033) | 5.3% |
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The galley equipment market witnessed steady growth of 6.8% from 2018 to 2022, driven by advancements in technology and increasing demand from the aviation and maritime industries.
The forecast for 2023 to 2033 showcases a more promising outlook with a CAGR of 5.3%, reaching US$ 16.8 billion by the end of the forecast period, fueled by a growing emphasis on electric-based technologies and innovative solutions to enhance efficiency and performance.
The rising air travel and cruise tourism, in addition, coupled with the adoption of eco-friendly and sustainable galley equipment, are expected to further propel the market's expansion in the coming decade.
During the forecast period, the galley equipment industry in China is projected to experience a growth rate of 5.2% and touch US$ 3.9 billion by 2033.
The country's thriving aviation and maritime industries, fueled by rising demands for new aircraft deliveries and expanding marine fleets, are expected to drive the market. Additionally, increased government spending on naval development and the growing disposable income of the population further contribute to this upward trajectory.
The shift towards domestic tourism and the growth of the hospitality sector in China is also expected to contribute to the increased demand for galley equipment.
As more Chinese travelers explore their own country, airlines, and cruise operators are investing in upgrading their fleets to provide top-notch services, including advanced galley equipment, to cater to the rising number of domestic travelers.
This burgeoning trend presents a significant opportunity for galley equipment manufacturers to expand their presence in the Chinese market and capitalize on the country's evolving travel landscape.
The galley equipment market in the United States is poised for a CAGR of 5.2%, primarily driven by the increasing fleet of commercial aircraft and rising demand for both new commercial aircraft and business jets in the country.
The country's cruise industry is experiencing an upsurge, with a growing number of passengers opting for cruise travel. This trend has led to the construction of new cruise ships with larger capacities, further propelling the market's future growth prospects.
The focus on passenger experience and amenities has led to airlines and cruise operators investing in modernizing their galley equipment to offer a wide range of food and beverage options, meeting diverse customer preferences.
With the increasing emphasis on sustainable practices, galley equipment manufacturers in the US are exploring eco-friendly materials and energy-efficient solutions to align with the aviation and maritime industries' green initiatives.
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According to FMI analysis, the anticipated top fit in the market for galley equipment is retrofit with a CAGR of 5.1% from 2023 to 2033.
With airlines and cruise operators seeking to upgrade their existing fleets to meet evolving passenger demands and industry standards, retrofitting offers a cost-effective solution to enhance the galley equipment with modern features, ensuring a seamless and comfortable travel experience.
Retrofit solutions enable airlines and cruise operators in the market to stay competitive by upgrading their galley equipment to incorporate the latest technologies, such as touchless controls, energy-efficient appliances, and innovative storage solutions.
This not only improves the overall passenger experience but also reduces maintenance costs and downtime, optimizing fleet performance.
The marine application is anticipated to be the prominent one in the galley equipment industry due to several key factors that are fostering the sub-segment's anticipated CAGR of 5.0% over the forecast period.
The rise in maritime tourism and the growing demand for cruise travel have fueled the need for modern and efficient galley equipment to cater to larger passenger capacities. Additionally, the marine industry's focus on providing enhanced onboard dining experiences to attract travelers has driven investments in advanced galley solutions.
The expansion of commercial and cargo fleets has bolstered the demand for functional and space-efficient galley equipment. These factors combined make the marine application a significant driver of market growth and innovation.
The competitive landscape in the galley equipment industry is characterized by a diverse array of players vying for market share. Established galley equipment manufacturers, as well as specialized companies offering customized solutions, compete to meet the evolving demands of airlines, cruise lines, and maritime operators.
Key factors influencing competition include product quality, technological advancements, cost-effectiveness, and the ability to provide tailored solutions to enhance passenger experience and operational efficiency.
The industry's dynamic nature and the rising focus on sustainability and innovation drive continuous research and development efforts, fostering a competitive environment that encourages companies to stay at the forefront of the market's evolution.
Key Players:
Recent Developments in the Market are:
The galley equipment market size reaches US$ 10.1 billion in 2023.
The galley equipment market is set to surge at a robust 5.3% CAGR, reaching a noteworthy valuation of US$ 16.8 billion by 2033.
The galley equipment market demonstrated a 6.8% CAGR from 2018 to 2022.
China indicates profit potential in the galley equipment market, with an estimated US$ 3.9 billion market by 2033.
The retrofit segment is likely to demonstrate significant expansion, registering a CAGR of 5.1% through 2033.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Fit 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Fit, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Fit, 2023 to 2033 5.3.1. Retrofit 5.3.2. Line Fit 5.4. Y-o-Y Growth Trend Analysis By Fit, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Fit, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2023 to 2033 6.3.1. Marine 6.3.2. Aviation 6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033 7.3.1. North America 7.3.2. Latin America 7.3.3. Western Europe 7.3.4. Eastern Europe 7.3.5. South Asia and Pacific 7.3.6. East Asia 7.3.7. Middle East and Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Country 8.2.1.1. U.S. 8.2.1.2. Canada 8.2.2. By Fit 8.2.3. By Application 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Fit 8.3.3. By Application 8.4. Key Takeaways 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Fit 9.2.3. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Fit 9.3.3. By Application 9.4. Key Takeaways 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. U.K. 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Western Europe 10.2.2. By Fit 10.2.3. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Fit 10.3.3. By Application 10.4. Key Takeaways 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Poland 11.2.1.2. Russia 11.2.1.3. Czech Republic 11.2.1.4. Romania 11.2.1.5. Rest of Eastern Europe 11.2.2. By Fit 11.2.3. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Fit 11.3.3. By Application 11.4. Key Takeaways 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Bangladesh 12.2.1.3. Australia 12.2.1.4. New Zealand 12.2.1.5. Rest of South Asia and Pacific 12.2.2. By Fit 12.2.3. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Fit 12.3.3. By Application 12.4. Key Takeaways 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Fit 13.2.3. By Application 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Fit 13.3.3. By Application 13.4. Key Takeaways 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of MEA 14.2.2. By Fit 14.2.3. By Application 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Fit 14.3.3. By Application 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. U.S. 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2022 15.1.2.1. By Fit 15.1.2.2. By Application 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2022 15.2.2.1. By Fit 15.2.2.2. By Application 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2022 15.3.2.1. By Fit 15.3.2.2. By Application 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2022 15.4.2.1. By Fit 15.4.2.2. By Application 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2022 15.5.2.1. By Fit 15.5.2.2. By Application 15.6. U.K. 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2022 15.6.2.1. By Fit 15.6.2.2. By Application 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2022 15.7.2.1. By Fit 15.7.2.2. By Application 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2022 15.8.2.1. By Fit 15.8.2.2. By Application 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2022 15.9.2.1. By Fit 15.9.2.2. By Application 15.10. Poland 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2022 15.10.2.1. By Fit 15.10.2.2. By Application 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2022 15.11.2.1. By Fit 15.11.2.2. By Application 15.12. Czech Republic 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2022 15.12.2.1. By Fit 15.12.2.2. By Application 15.13. Romania 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2022 15.13.2.1. By Fit 15.13.2.2. By Application 15.14. India 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2022 15.14.2.1. By Fit 15.14.2.2. By Application 15.15. Bangladesh 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2022 15.15.2.1. By Fit 15.15.2.2. By Application 15.16. Australia 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2022 15.16.2.1. By Fit 15.16.2.2. By Application 15.17. New Zealand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2022 15.17.2.1. By Fit 15.17.2.2. By Application 15.18. China 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2022 15.18.2.1. By Fit 15.18.2.2. By Application 15.19. Japan 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2022 15.19.2.1. By Fit 15.19.2.2. By Application 15.20. South Korea 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2022 15.20.2.1. By Fit 15.20.2.2. By Application 15.21. GCC Countries 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2022 15.21.2.1. By Fit 15.21.2.2. By Application 15.22. South Africa 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2022 15.22.2.1. By Fit 15.22.2.2. By Application 15.23. Israel 15.23.1. Pricing Analysis 15.23.2. Market Share Analysis, 2022 15.23.2.1. By Fit 15.23.2.2. By Application 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Fit 16.3.3. By Application 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Aerolux Ltd. 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.1.5.2. Product Strategy 17.1.1.5.3. Channel Strategy 17.1.2. Air Cabin Engineering Inc 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.2.5.2. Product Strategy 17.1.2.5.3. Channel Strategy 17.1.3. Aluminox S.A 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.3.5.2. Product Strategy 17.1.3.5.3. Channel Strategy 17.1.4. B/E Aerospace, Inc 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.4.5.2. Product Strategy 17.1.4.5.3. Channel Strategy 17.1.5. Bucher Leichtbau AG 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.5.5.2. Product Strategy 17.1.5.5.3. Channel Strategy 17.1.6. Diehl Stiftung & Co. KG 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.6.5.2. Product Strategy 17.1.6.5.3. Channel Strategy 17.1.7. Diethelm Keller Aviation Pte Ltd. 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.7.5.2. Product Strategy 17.1.7.5.3. Channel Strategy 17.1.8. JAMCO CORP. 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.8.5.2. Product Strategy 17.1.8.5.3. Channel Strategy 17.1.9. Jeitek 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.9.5.2. Product Strategy 17.1.9.5.3. Channel Strategy 17.1.10. Loipart AB 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.10.5.2. Product Strategy 17.1.10.5.3. Channel Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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